Metallurgy news
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Silver demand hits record highSilver demand hit record highs last year with jewelry, coins and photovoltaic sectors, helping to boost sales of the precious metal Experts also predict rosy silver prices. Last week, analysts attributed the growth to the strongest decline in mine productivity in recent years and an increase in…
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Seven applicants for British Tata Steel designatedTata Steel's board announced that a number of companies have expressed interest in acquiring the British company. For further discussion, seven of them were selected, which are ready for the adoption of the entire concern in this country. Tata Steel Europe plans to sell its entire business in the…
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Oil prices rise amid news of fires in Canada and NigeriaSerious fires in Canada in the oil sands region of Albert province have led to a reduction in the production of oil companies in that country. The fires that began in May caused a decrease in oil production in Canada, by about 2.5 million barrels per day. Reports of supply problems overshadowed…
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Iran has no plans to freeze oil productionIranian Oil Minister Bijan Zangane said that Iran is not currently considering the possibility of freezing the level of oil production offered by Saudi Arabia. IRINN TV channel quoted the minister: “I had a conversation with the Minister of Oil of Saudi Arabia at that meeting (in Doha - ed.)…
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Goldman predicts iron ore price at $ 40 by the end of 2016In the report, the influential investment bank raised its quarterly forecast for iron ore from 47 percent to $ 55 per tonne. Further, iron ore will fall steadily from July to September to $ 45 and will drop to $ 40 in the fourth quarter. Goldman Sachs expects iron ore to decline throughout 2016…
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Luxembourg strives to become a leader in asteroid miningThe Luxembourg government has ambitious plans to profit from asteroid mining by signing a contract with two US space exploration companies that will eventually conduct missions to extract water and minerals in outer space. The tiny European country has been exploring the sector since 2013, and…
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China with the World Bank to build a new Silk RoadChina Investment Bank AIIB will promote the World Bank's three major transport projects in Central Asia. The collaboration shows that Western financial institutions are beginning to accommodate China's new role - much to the chagrin of the US government. The Asian Infrastructure Investment Bank…
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IMF expects resumption of economic growth in RussiaIMF Head Christine Lagarde sees positive trends in the development of Russia and expresses concerns about the eurozone. Russia may soon come out of the recession and return to growth. However, this year, the economy is still expected to weaken, as the IMF said in its semi-annual report on Central…
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ArcelorMittal cuts lossesArcelorMittal sold more steel in the first quarter of this year than in the last quarter of last year, but earned less in monetary terms due to steadily falling prices. The net loss is less than the year before. In the first quarter, ArcelorMittal steel shipments totaled 21.5 million tonnes, up 8.8…
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MMK returns to profit after selling Fortescue stakeMagnitogorsk Iron and Steel Works confirmed that it sold part of its stake in Australian iron ore company Fortescue Metals Group Ltd., which helped the third largest steelmaker in Russia to profit and reduce debt. MMK sold shares of Fortescue in the first quarter for $ 68 million, it said in a…
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