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China’s monthly crude steel output fell for a second straight month in July, official data showed on Wednesday, as steel mills trimmed output amid heightened environmental measures and record raw material prices. The world’s top steelmaker produced 85.22 million tonnes of crude steel last month, data from the National Bureau of Statistics (NBS) showed, down…
DetailsSteel & Tube Holdings Limited made good progress on its business turnaround programme in FY19, although positive gains were offset by lower than expected gross margin performance due to market contraction in some high value categories and a highly competitive market. Revenues were $498.1 million, earnings before interest and tax was $16.8 million and net…
DetailsChinese output of hot metal, crude steel and finished steel all fell on a month-on-month basis in July amid weakening demand and steelmaking restrictions in the country’s production hub in northern China. Demand in China’s domestic market weakened last month amid bad weather – heavy rain in some regions and sweltering heat in most of…
DetailsWorldwide crude stainless steel production, in 2018, reached an all-time high total of more than 50.7 million tonnes. This represents an increase of 5.5 percent, compared with the year earlier figure. MEPS predicts that global output will grow by approximately 4 percent, in 2019, to achieve a new record high mark of around 52.7 million…
DetailsDeliveries of MMK’s rolled steel to pipe companies in the Siberian Federal region have doubled since the beginning of the year. The region accounts for about 10% of the plant’s sales of the relevant products. The Company plans to further expand its presence in the domestic market. Deputy General Director of Sales at PJSC MMK…
DetailsLast summer, it looked like things were finally about to change for Ashland, Ky. For two decades, the jobs that once supported this Appalachian outpost of 20,000 people on a bend in the Ohio River have been disappearing: 100 laid off from the freight-rail maintenance shop; dozens pink-slipped at the oil refinery; 1,100 axed at…
DetailsThe week gone by witnessed another bloodbath on Dalal Street taking along with it all the heavyweights like Reliance Industries, whose AGM effect withered away in no time. Strong bastions such as ICICI Bank, Bajaj Finance and the like also witnessed heavy selling, but by the close of the week, a smart recovery in broader…
DetailsParts additively manufactured with AF-9628, an Air Force steel, are about 20% stronger than conventional AM alloys, in terms of ultimate tensile strength, according to research conducted by Capt. Erin Hager, an Air Force Research Laboratory employee and recent graduate of the Air Force Institute of Technology’s Aerospace Engineering Program. AF-9628 is a steel alloy…
DetailsExport prices for Chinese cold-rolled coil and hot-dipped galvanized coil dropped over the past week, largely due to limited buying interest arising from heightened trade tensions between China and the United States, market sources told Fastmarkets. The Chinese currency passed the 7-yuan per $1 threshold earlier this month after US president Donald Trump announced plans to…
DetailsStoilensky, part of NLMK Group, has produced its fifteen-millionth tonne of pellets since the launch of its pelletizing plant. Launched in November 2016, the pelletizing plant has a design capacity of 6 million tonnes of pellets per year. In 2018, the plant reached the production capacity of 6.7 million tonnes of pellets (+12% yoy). In…
DetailsPresident Trump expressed his support of fracking and tariffs and his admiration of Western Pennsylvania’s steel legacy during a visit Tuesday to the ethane-cracking facility being built in Beaver County. In an hour-long speech to more than 2,000 workers at the Royal Dutch Shell plant in Potter Township — miles away from about 200 protesters…
DetailsMumbai|New Delhi: Automobile industry captains have welcomed the sops announced by finance minister Nirmala Sitharaman on Friday to revive the sector that is going through its worst sales decline in almost two decades. “The government has done the maximum it could have to revive demand,” said RC Bhargava, chairman of Maruti Suzuki, the country’s largest…
DetailsMagnitogorsk Iron and Steel Works was awarded a certificate by the United Nations Industrial Development Organisation for its contribution to sustainable development and environmental initiatives in the Chelyabinsk region, as well as for the successful implementation of its ‘Energy Management of Industrial Enterprises’ program. The UN experts praised MMK’s efforts to reduce and prevent anthropogenic…
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