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UMMC has started developing one of the largest copper deposits in Russia – Podolskoye, which will cover some 20% of the group raw materials base. The deposit is situated in Bashkortostan and was discovered in 1971. The reserves of copper, copper-zinc and pyrite ores amount to 88.6 million tons. In addition to copper, there is…
DetailsSouthwestern China’s Kunming Intermediate People’s court will auction all of the 28,336 tonnes of ammonium paratunsgate (APT) held by the collapsed Fanya Metal Exchange in mid September, according to an official notice seen by Fastmarkets on Friday August 30. The volume of APT ingots is equivalent to about three months of Chinese output and will…
DetailsAccording to statistics, metal workers in April-June earned more than in the industry as a whole. Thus, over 36% of employees received 15 thousand UAH, while the average level in the industry was 22.1%. At the same time a large number of metal workers receive less than 8 thousand UAH (28.6%) and 8-10 thousand UAH…
DetailsNikkei reported that Nippon Steel plans a 10% cut in its planned capital spending of JPY 1.7 trillion (USD 16 billion) for three years through fiscal 2020, as the global steel market slumps due to increased Chinese production and the global economic downturn induced by the US China trade war. The current 3 year capital…
DetailsBase metals on the Shanghai Futures Exchange mostly traded higher during morning trading on Friday August 30 following improved sentiment attributed to positive comments from the Chinese Commerce Ministry late on Thursday amid China’s trade war with the United States. “China has ample means for retaliation, but thinks the question that should be discussed now…
DetailsThe Danieli C-Stock Consignment Stock System represents a unique opportunity for metals producers to select Danieli as preferred provider for the supply of high-turnover items, including high-wear parts. The system allows customers to avoid costly procurement, to exploit dilution of parts expenses, and to enjoy from rapid and continuous availability, granting continuity of operation and…
DetailsDue to a technical issue, Fastmarkets MB’s 65% Fe Brazil-origin iron ore fines index data series found in the Fastmarkets Excel Add-in had some missing data. The missing data was scattered from November 2014 to March 2015. The missing data was from November 26, 2014 to December 5, 2014; December 16, 2014; from December 22,…
DetailsIndian government has sought inputs from the steel industry for usage of LD slag in the next two weeks as it has been accumulating over the years and posing a problem. LD slag a by product of a steel making process, is not used in India unlike the blast furnace slag which is being commercially…
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