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Mechel reports that the Supervisory Board of Russia’s Industry and Trade Ministry’s Industrial Development Fund approved a low-interest loan to Mechel Group’s Beloretsk Metallurgical Plant for upgrading its wire and rope production facilities. The project’s cost will total 1.5 billion rubles, with the Industrial Development Fund footing the bill for 50% of this sum, or…
DetailsImports of Iron & Steel in the United Kingdom increased to 446.95 GBP Million in October from 406.23 GBP Million in September of 2017. Imports of Iron & Steel in the United Kingdom averaged 337.83 GBP Million from 2000 until 2017, reaching an all time high of 631.75 GBP Million in March of 2011 and…
DetailsMontenegro’s transport firm Montecargo has struck a deal with HBIS Group Serbia the owner of the Smederevo steel mill that will see it ship 30,000 tonne of iron ore for the Chinese-owned company. Montecargo CEO Muradif Grbovic has said that “Transport of 120,000 t of ore for the company, which is backed by Chinese capital,…
DetailsMajor Chinese steelmakers’ daily crude steel output rates were largely flat in mid-July compared with the previous period. Member mills of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 2.02 million tpd during the second 10 days of July, up a mere 0.2 %… (Ukrainian metal)
DetailsPAO Severstal (the “Company”) one of the world’s leading vertically integrated steel and steel-related mining companies, announces that it has entered into a definitive agreement with Abinsk Electric Steel Works LTD for the sale of Mini-Mill Balakovo. The consideration of the transaction will be $215 million. The transaction is expected to complete in first half…
Details"The eastern region of the country holds immense potential and a large part of steel production target as envisioned in National Steel Policy (NSP) 2017 will come from states like Jharkhand, Odisha, West Bengal," a statement issued by Steel Authority of India Ltd (SAIL) quoted the steel minister as saying. Jharkhand, Odisha and West Bengal…
DetailsTanzania’s steel and plastics firm Lodhia Group is putting up the country’s first billets plant. According to Lodhia Group managing director Mr Sailesh Pandit, the plant will help meet the high demand for billets in Tanzania and neighbouring countries besides helping fight off under valued, under declared and substandard steel imports from South Africa that…
DetailsReduced volumes of Chinese-produced steel have been going into the country’s export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets? According to China’s General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished…
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