Kuzbassrazrezugol has finished the scheduled replenishment of technological automobiles for 2019. The company subsidiaries have received and put into operation 87 new BelAZ quarry dump trucks with the lifting capacity of 90 to 360 tons. This year the company has purchased 49 units of 220-ton BelAZ-75306 trucks and 24 BelAZ-75131 with the lifting capacity of…Details
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In January-June Metinvest decreased net profit by 39% YoY, to $408 million. The company revenue dropped by 6%, to $5.818 billion, and EBITDA – by 33%, to $890 million. At the same time the total and net debts remained unchanged – $2.753 billion and $2.474 billion respectively. (Ukrainian metal)Details
Base metals prices on the Shanghai Futures Exchange were down during the morning trading session on Tuesday September 17, with risk aversion still heightened following an attack on Saudi Arabian oil facilities over the weekend. “It was a textbook risk-off response in global financial markets following the strike on Saudi Arabia’s oil facilities over the…Details
Despite the fourth quarter of the year being well under way, it has been surprising to see the Indian subcontinent markets still stuck in the ongoing doldrums. As we reach the middle of September, markets have not been this depressed for several years (at least) and the pervading negativity seems to show few signs of…Details
The Turkish steel producers went quiet in the deep-sea scrap markets at the beginning of the current week, digesting the latest cargo transacted from the United States, sources said on Monday September 16. A steel mill in the Izmir region booked a US cargo at the end of last week, comprising 15,000 tonnes of HMS…Details
From the editor’s Desk – India’s Sustainability Leader Mr YPS Suri all set to Start Next Inning of life from October
With a missionary zeal to advocate and promote sustainability for protecting the planet with an appeal to consume less in every walk of life in alignment with National Mission to mitigate corrosion through sustainable solutions, Mr Yatinder Suri established, led and guided the chosen team for the Indian subsidiary of Finnish stainless steel global leader…Details
Key data from the pricing sessions in New York, London and Shanghai in the week ending Friday September 13. United States Key drivers Spot silicon fell below $1 per lb on the low end for the first time in three years in the United States, on excess supply and the undercutting of domestic material by overseas suppliers.…Details
JSW Steel on September 13th 2019 challenged an order of the National Company Law Tribunal that approved its INR 19,700 crore bid for Bhushan Power and Steel, but did not provide immunity from attaching the insolvent firm’s assets, post-take over, by investigating agencies for recovering INR 5,580 crore fund digression by erstwhile promoters. Mentioning JSW…Details
Stocks of the five major finished steel items at Chinese traders and steel mills declined further during the week of September 5-11, mainly due to the fact that actual demand witnessed increases as downstream consumers showed stronger intention for making procurement, Mysteel Global learned from the market. Total inventories of the five major steel items…Details
LIVE FUTURES REPORT 16/09: LME copper price sinks below $5,900 in afternoon downturn; nickel sell-off continues
The three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity’s outright price fall by 2.6%. Volumes traded in copper over the afternoon were moderate, with some 17,000 lots exchanged by the…Details
IANS reported that in a setback for the mining industry, the government is set to reject a proposal to extend non-captive mining leases of companies that are expiring after completing 50 year period in March, 2020. Source of informationDetails
MANILA, Sept 16 (Reuters) – Chinese steel futures hit a 1-1/2-month high on Monday on hopes that Beijing will roll out more stimulus measures after latest economic indicators showed deepening slowdown in the world’s second largest economy. China’s industrial production grew at the weakest pace in 17-1/2 years in August, a sign of increasing weakness…Details
Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) continued to fall last week on low demand and soft scrap prices, sources told Fastmarkets on Monday September 16. HRC exports Fastmarkets’ weekly price assessment for steel HRC, export, fob main port Turkey, was $455-465 per tonne on September 13, down by $5 per tonne…Details