Metallurgy news
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Italy resists extension of sanctions against RussiaEU sanctions against Russia are likely to be extended, according to EUobserver. The magazine gives its assessment based on three unnamed sources from the EU. At the same time, it is considered likely that the extension of the sanctions will be made by an unofficial decision before the meeting of…
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Has the rise in steel prices already ended?May was the fifth consecutive month of rising steel prices. However, along with this, steel production in China continued to grow again. According to the MEPS data, world steel prices reached a record increase in May. MEPS reports that steel prices rose 13.8 percent in May. In the EU, growth was up…
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Ukraine wants to resume gas imports from RussiaGazprom CEO Alexei Miller said: “... we have received an official letter from the management of Naftogaz of Ukraine with a request to resume Russian gas supplies. In the second half of 2016 and in the first quarter of 2017, it is necessary to increase supplies in the winter period and during…
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EIA raised forecasts for oil pricesAccording to forecasts by the US Energy Information Administration (EIA), in 2016 the average price for North Sea Brent will be $ 43 per barrel, and in 2017 it will reach $ 52 per barrel. The latest data is higher than last month's EIA forecasts by three and one dollar per barrel, respectively. It…
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Commodities are expected to rise after a four-year dropThe four-year bear market that pushed commodities to its lowest level in a quarter century is coming to an end as supply constraints have occurred. Recovery began in everything from soybeans to zinc. The Bloomberg Commodity Index, which tracks 22 commodities, is up more than 20 percent from its…
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US warns China of steel overproductionThe US Treasury Secretary has called on China to cut excess steel production capacity as it distorts global markets. Jack Liu addressed Beijing ahead of the annual meeting between the United States and China to discuss trade and security issues. China is the world's largest steel producer and has…
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Fed expects further interest rate hikeThe head of the Federal Reserve System, which performs the functions of the US central bank, considers it expedient to further increase the bank discount rate. Janet Yellen announced this in Philadelphia at the Council on Foreign Relations, saying: "Further gradual rate hikes are likely to be…
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Posco signs billion dollar deal with IranThe Organization for Industrial Development and Reconstruction of Mines and Minerals of Iran, represented by the holding company IMIDRO, which acts as a government partner for investors and may enter into a joint venture, signed a letter of intent to cooperate for two years with the Korean company…
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Vallourec supplied steel for the construction of infrastructure for the FIFA World CupThe FIFA World Cup will take place in Qatar in 2022, but the construction of the necessary infrastructure has begun a long time ago. Vallourec provided profiles for the construction of the stadium infrastructure in Doha. The Qataris decided to build not only the stadium, but the entire area, which…
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Moscow agrees to arm OSCE monitors in eastern UkraineFor the first time, the Russian government accepts that observers from the Organization for Security and Cooperation in Europe (OSCE) can conduct their operations in eastern Ukraine, provided that some OSCE monitors could be armed, as Russian Foreign Minister Sergei Lavrov said on Saturday. "With a…
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