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Severstal-Metiz at its Cherepovets site has started marking rods with color. Variants of marking depend on steel grade. For each customer a separate color marking has been chosen. At present the company uses 11 base colors and 19 combinations of 2 colors. The marking simplifies and speeds up the process of identification of metal at…
DetailsThe Commercial Court of Lugansk region has resumed the proceedings on the bankruptcy case against Alchevsk Iron and Steel Works. Earlier the court has received claims to the company amounting to 125 billion UAH. In particular, Margit Holdings Limited (connected with Russian VEB) claims 75.8 billion UAH, Indumet Limited – 28.9 billion UAH, Landmont Limited…
DetailsKuzbassrazrezugol, a part of Ural Mining and Metallurgical Company (UMMC), has reduced the coal production guidance for 2019 to 47 million tons from 50 million tons, the company said citing CEO Sergei Paramonov. “The company continues to pursue an upgrade of facilities, raising investment every year. The annual coal production plan was adjusted due to…
DetailsThe state enterprise Lvivugol has ordered OSK-Technology LLC the delivery of mining equipment valued at 30.87 million UAH. This year the Stepnaya mine will receive two 2L1000 conveyers with the length of 760 meters and the capacity of 719 tons per hour valued at 15.43 million UAH each. The company is the manufacturer of the…
DetailsThe three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses…
DetailsThe price of steel hollow sections in the European domestic market has been reduced, with mills looking to stimulate demand by making lower offers, sources told Fastmarkets on Wednesday August 28. Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was €585-630 ($649-699) per tonne on Wednesday, widening downward by €30 per…
DetailsAccording to economists polled by Reuters, Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand. While poll median showed the economy is expected to have grown at a year on year pace of 5.7% in the June quarter, a…
DetailsThe three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday August 28, breaching the $16,000 per tonne resistance level in a bout of short covering, while tightness in the metal’s forward curve meant that it continued to trade at record levels. Some 8,000 lots of nickel changed…
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