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Magnitogorsk Iron and Steel Works (MMK) commissioned sinter plant No. 5, the only one of its kind in Russia, in the presence of Russian President Vladimir Putin. The facility has a capacity of up to 5.5 million tonnes of sinter per year. MMK’s new sinter plant is equipped with state-of-the-art equipment, allowing it…
DetailsMechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian mining and metals company, reports signing an agreement with CTP BELAZ-24 OOO for 15 dump trucks with a total value of approximately two billion rubles. The deal was signed on the sidelines of the international specialized mining technologies exposition “Russian Coal and Mining” held in Novokuznetsk.…
DetailsKWEKWE-BASED wire-making company, Lancashire Steel says it needs an additional ZWL$19 million to ensure it smoothly emerges from the woods after closing down in 2010 due to operational constraints. The firm, which is about to resume operations recently received ZWL$2 million from Government through the Zimbabwe Asset Management Company (Zamco). In an interview, Lancashire Steel…
DetailsFinance Minister Nirmala Sitharaman said that to boost demand in the automobile sector several temporary relief measures will be introduced including an increased depreciation cost for automobiles for corporates and businesses, however, she stopped short of giving a GST cut for automobiles, something the industry has been lobbying for. All BS-IV vehicles purchased upto March…
DetailsXining Special Steel said that its revenue in the first half of the year was 4.388 billion yuan, up 29.6% from a year earlier, and net profit was 58.4685 million yuan, up 365.05% from a year earlier, according to a semi-annual report released by Xining Special Steel on the evening of Aug. 20. According to…
DetailsTurkey’s military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey’s largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said. British Steel…
DetailsIn many parts of the world, the outlook for growth in steel demand is quite modest. However, the region that continues to buck the trend is Southeast Asia. This area is a steadily developing market. All ASEAN countries recorded positive growth in 2018 – with similar projections expected, this year. Increased activity from the construction…
Details24 July marked ten years since the launch of the unique Magnitogorsk Iron and Steel Works (MMK) plate Mill 5000. Over its 10-year history, the unit has produced more than 10 million tonnes of hot rolled steel. Russian President Vladimir Putin attended the ceremony celebrating the unit being commissioned. He praised the work of the…
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