A 3 member bench of National Company Law Appellate Tribunal directed that it will hear Central Bureau of Investigation, Enforcement Directorate and Ministry of Corporate Affairs Serious Fraud Investigating Office regarding JSW Steel’s plea seeking immunity from prosecution after buyout of Bhushan Power and Steel, which is facing money-laundering allegations on 14 October. It said…Details
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Magnitogorsk Iron and Steel Works’ (MMK) representatives took part in the Second Congress of the Russian Steel Association on labour protection, industrial and environment safety held in Stary Oskol. MMK invests around RUB 2.5 billion in occupational safety every year. The event was held on 10-11 September on the site of the Oskol Electrometallurgical Plant…Details
China’s domestic rebar prices held steady on Tuesday September 17 amid falling futures and an inactive market. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($526-530) per tonne, unchanged Northern China (Beijing): 3,640-3,670 yuan per tonne, unchanged Sellers kept their prices flat to wait for more changes in the futures market, sources said. Market participants did not…Details
Metinvest B.V. has purchased 49.37% of Dneprovsky By-Product Coke Plant shares for $11 million. The official purchase took place in August. The coke output capacity of the plant is some 700 thousand tons per year. In January Metinvest bought 23.71% of Yzhkoks for $30 million. Dneprovsky By-Product Coke Plant received 373.62 thousand UAH of net…Details
In January-August Ukrainian seaports exported 16.3 million tons of iron ore raw materials, up by 36.9% YoY. In particular, the port Pivdenniy increased exports by 46.3%, to 16.1 million tons, and port Chernomorsk – 10-fold, to 181.2 thousand tons. In August export prices dropped by 20-25%, to $88-93 per ton, and exports – by 20.8%…Details
In January-June wholesale of metal grew by 17.3% YoY, to 2.7 million tons, valued at 48.9 billion UAH, up by 10.3%. The growth is due to the changes in the trade, including exports, as the domestic market does not show such rates. Rolled metal consumption dropped by 5.17%, to 1.97 million tons. (Ukrainian metal)Details
Property of a major non-ferrous metals scrap processor Vtormet Industrial Company LLC has been put up for sale with the initial price of 2.5 billion rubles. All the property (11 automobiles, manufacturing machinery, secondary raw materials, scrap and wastes) are auctioned as a single lot. The debt of 387 million rubles is also included in…Details
Cherepovets Iron and Steel Works has commissioned new laboratory equipment to study the segregation of the furnace charge when it is loaded into the sintering machines. The equipment allows studying the processes by the height of the layer in detail. The machine was designed and produced by the specialists of the coke-sinter-blast furnace manufacture. It…Details
In July Russia imported 116 thousand tons of manganese ore, down by 11% MoM, but up by 19.3% YoY. Deliveries from South Africa and Kazakhstan decreased by 16% and by 18%, to 84.1 thousand tons and 13.8 thousand tons respectively. Gabon supplied 17.9 thousand tons, up by 40%. In 7 months imports totaled 636 thousand…Details
In July Russia exported 305 thousand tons of raw aluminum, up by 21.8% MoM and by 40.5% YoY. In 7 months exports totaled 1.9 million tons, up by 20.6% YoY. In monetary terms since the start of the year the exports have grown by 18.3%. Export prices in July dropped from $1680 to $1670 per…Details
Severniy Mining and Processing Works has spent over 1 billion UAH on modernization of its quarry machines. In particular, the Pervomaisky quarry received 2 BelAZ dump trucks and 1 Liebherr bulldozer. The latter will be used in the construction of new roads. In June 2 more BelAZs were added to the company fleet. Together they…Details
In July Russia exported 8.5 thousand tons of copper wire rod, up by 154% MoM, but down by 40% YoY. The increase is due to the growth of deliveries to Egypt to 3.1 thousand tons, and to Kuwait to 1.3 thousand tons. In 7 months exports totaled 74.6 thousand tons, down by 10.6% YoY. In…Details