Metallurgy news
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ThyssenKrupp is the victim of a cyber attackProfessional hackers attacked the industrial group ThyssenKrupp. According to the company: “This was a professional attack that may have come from Southeast Asia. According to our analysis, the attack procedure was mainly aimed at stealing technological know-how and research results in the field of…
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Europe continues anti-dumping investigation on Chinese steel importsThe European government has launched an anti-dumping investigation against some corrosion-resistant steels from China to determine if these manufacturers were supplying products at unreasonably low prices to the European domestic market. The EU said it would also launch an anti-dumping…
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Moody's announces negative outlook for the Asian steel sector for 2017Moody's Investors Service predicts weaker earnings for steelmakers for 2017, mainly driven by declining production and margins. However, India stands out as the only strong country in the region. Steel demand in India is expected to rise in 2017. In addition, protectionist measures on the part of…
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How Historic OPEC Agreement Will Affect Oil PriceOPEC's efforts are likely to balance the oil market by mid-2017, but production cuts fall short of the stated target of depleting oil reserves, which are weighing on prices. The oil market should rebalance "by the middle of next year," according to the Nigerian minister. However, calculations based…
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Thyssenkrupp to build China's largest steering plantThyssenKrupp intends to invest at least 200 million euros in a plant for the production of electrical control systems in China. It will be a modern and highly automated plant with an area of 150 thousand. sq. m. The plant is expected to employ 800 people. And this is only the first phase of…
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Scrap steel wins prestigious LME awardScrap steel contracts on the London Metal Exchange won the prestigious industry award one year after their launch. Scrap Steel won the Futures and Options World (FOW) nomination as the most innovative new contract in the commodity and energy industries, reflecting a successful year with over…
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India raises customs duties on stainless steelIn response to demands from Indian stainless steel producers, the Ministry of Steel has proposed an increase in the core product customs duty from 7.5% currently to at least 10%. The move aims to protect domestic firms from rising imports from China, Japan and South Korea at "extortionate prices."…
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Avdiivka Coke Plant is fighting for survivalOn the night of December 7, the Avdiivka Coke Plant of Metinvest Group lost its power supply. Both inputs supplying the enterprise were disconnected. For more than a day, AKHZ specialists have been fighting to maintain production capacities. As of 13-30 December 8, the plant suspended coke…
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What does Trump's victory mean for American steelmakers?One of the points of Trump's strategy to revive the metallurgy is to cut corporate taxes. While this will not directly help major steel producers such as US Steel and AK Steel, which have not paid income tax at the expense of losses, it will help stimulate economic growth and may indirectly have…
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Largest iron ore mine needs additional manpowerIron ore prices climbed back to $ 80 /t as optimism emerged about demand from the main consumer, China. Steel prices are up 83% this year, according to the Steel Index, and have doubled from decade lows in December 2015. Launched in 2014, the largest mining project, Roy Hill, by Hancock…
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