Metallurgy news
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Change of power in Rio TintoSam Walsh, the current director of Rio Tinto for the past seven years, is retiring. He will be replaced by Jean-Sbastien Jacques, who is currently in charge of the copper and coal segment. Sam Walsh will retire on July 1, 2016. Jean du Plessis, chairman of the board, said that Walsh led the…
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China announces massive reduction in zinc smelting capacityThe latest report released by the Shanghai Metal Exchange suggests that the country could eliminate nearly 500,000 tons of zinc smelting capacity during this year. The move is seen as part of the government's efforts to cut production capacity and inventory. The Chinese government has announced a…
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Zaporizhstal will allocate 1.5 million hryvnia for the development of children's sportsAs part of the social program in 2016, Zaporizhstal will allocate over UAH 1.5 million for the development of children's and youth sports in Zaporozhye. The sports complex of the plant is a convenient training base for 600 pupils of sports schools in Zaporozhye. Traditionally, the sports complex…
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Elections in Kazakhstan preserve the old parliamentParliamentary elections were held in Kazakhstan last Sunday. The events in Ukraine seriously scared the Kazakhs, and, in the opinion of the majority, it is Nazarbayev and his team who can rule out the possibility of such events in Kazakhstan. According to the exit poll, the results did not bring…
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Is the end of the US coal industry nearing?Price pressures and fierce competition from the gas industry have put the US coal industry on a collapse path. Peabody Energy, the largest coal mining operator in America, announces that the company will have to resort to bankruptcy. The company's shares lost after nearly half of their value…
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Cameron fears possible UK exit from EUDavid Cameron, British Prime Minister, allows his country to leave the EU if during the upcoming summer referendum supporters of EU membership are not very active, as he said in an interview with The Independent. The prime minister admitted: “What I am afraid of is the low turnout in the referendum…
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Exports of Russian wheat undermine the strengthening of the rubleRussia is expected to become the largest wheat exporter this season, dominating the Egyptian market for much of the past eight months. Egypt imports more wheat than any other country and its tenders are seen as the backbone of international demand. But Russia is losing its competitiveness in the…
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Korean steel makers began to raise pricesLeading steelmakers in South Korea are considering plans to raise prices after years of falling and declining revenues. The country's largest steelmaker, POSCO, has already raised hot rolled steel prices by as much as 30,000 won, or nearly $ 26 per tonne, in January. Pohang is also considering…
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Second black box found at Boeing crash site in RostovFlydubai CEO Gheit al-Gheit said he ruled out the possibility of a bomb explosion on board passenger Boeing 737-800, en route from Dubai. The liner crashed in Rostov-on-Don on Saturday morning. In conditions of poor visibility and gusty winds, the plane crashed while landing to the left of the…
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The U.S. Embassy warns its citizens of the terrorist threat in Russia and EuropeThe US Embassy in Moscow warns American citizens about the existing terrorist threat in Russia and Europe. William Stephens, spokesman for the US diplomatic mission, said: "Our embassies around the world share security information with American citizens on a regular basis." Stevens clarified…
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