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President Shavkat Mirzieyev has reviewed the construction project of a metal plant on the basis of the Tebinbulak deposit in Karakapakstan. The reserves of the deposit are estimated at 1.1 billion tons. It is planned to mine 33 million tons of ore there and produce 1.5 million tons of iron per year. The capacity of…
DetailsIn January-June the net profit of Rusal totaled $625 million, not $558 million as reported previously. The company has recalculated the H1 financial figures. Thus, profit decreased by 34% YoY. In Q2 net profit totaled $352 million, not $285 million, up by 28.9% QoQ. (Ukrainian metal)
DetailsThe Mine named after Tikhov has shipped the first train of coal via the new railroad. Investments in the infrastructure creation totaled some 1 billion rubles. In particular, Proektnaya station and the Tikhov station have been built, as well as 8.8 km of railroad. With the new infrastructure the mine will be able to annually…
DetailsIn June Russia imported 48.5 thousand tons of flat galvanized rolled metal, down by 35% MoM and by 32% YoY. In 6 months imports totaled 339 thousand tons, down by 0.4% YoY. China supplied 31% of metal, up 2-fold. Average price on the Russian border was $717 per ton without VAT. It is followed by…
DetailsIn June Russia imported 40 thousand tons of galvanized metal with polymer coating, up by 17.9% MoM, but down by 17.2% YoY. According to the customs statistics, in 6 months imports totaled 182.7 thousand tons, up by 1.5% YoY. China supplied the most products – 43%, up by 9.5%. Average price on the Russian border…
DetailsBeing one of the leading sectors in the economy of Azerbaijan, mining industry holds the largest share in the industrial production. Enjoying an increase in the production of precious metals, such as gold and silver, Azerbaijan also sees growth in the mining products exports. The country exported 2,302 kg of gold worth $70.4 million to…
DetailsAzovstal Iron and Steel Works has finished reconstruction of the dust-exhaust system in the crushing division of its converter shop. Under the project valued at 8.1 million UAH, Lamellen-Jet purifying equipment has been installed. The trial operation has confirmed the purification system corresponds to the best European practices. Azovstal started repairing the converter shop in…
DetailsBloomberg reported that demand for steel in India could grow at the slowest pace in three years as an economic slowdown in the global industry’s bright spot deepens. Moody’s Investors Service’ Icra Ltd said that steel consumption in India is likely to increase by less than 6% this fiscal year, slowest pace since a 3.1%…
DetailsBase metals prices on the Shanghai Futures Exchange edged up during morning trading on Tuesday August 27 after tensions between China and the United States appeared to ease a day earlier after both sides announced fresh tariffs against each other last Friday. Leaders of both countries expressed willingness to return to the negotiations table to…
DetailsBased on preliminary Census Bureau data, the American Iron and Steel Institute reported today that the US imported a total of 3,028,000 net tons of steel in July 2019, including 1,843,000 net tons of finished steel (up 48.3% and 6.6%, respectively, vs. June final data). Through the first seven months of 2019, total and finished…
DetailsKey data from the pricing sessions in Asia and Europe during the week ended Friday August 23. Europe Key drivers Prices for both grades of antimony in Europe weakened on August 23 due to slow demand and few tonnages being exchanged. The price for antimony MMTA standard grade II, in-whs Rotterdam, has fallen by 0.4% while that for antimony max…
DetailsAfter revealing plans to let go of up to 200 workers at its Great Lakes facility in Michigan, US Steel announced on Friday that it will idle a plant in East Chicago in Indiana by mid-November as part of the consolidation of its till mill operations in the United States, a move which could result…
DetailsThe price for ammonium paratugnstate (APT) in Europe moved lower in the week ended Friday August 23, weighed down by bearish sentiment ahead of the late-August auction for the entire antimony stock held in the defunct Fanya Metal Exchange. Meanwhile, the Chinese APT export price was stable amid market uncertainty. Tungsten concentrate prices again stable…
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