Metallurgy news

• ThyssenKrupp cuts costs by 1 billion euros German industrial group ThyssenKrupp has cut costs by more than € 1 billion ($ 1.12 billion) this year, surpassing its target, and plans to move in that direction, its CFO said. The company's efficiency improvement program was aimed at achieving € 850 million in savings in the current fiscal yea... 07.09.2015  10:27

• MMK Group allocated 5.1 billion rubles for production development In the first half of 2015, MMK Group companies invested 5.1 billion rubles, including investments by OJSC MMK, which amounted to 4.6 billion rubles. The bulk of these investments went to the modernization of the blast furnace (No. 8), which is estimated at 1.2 billion rubles. The total cost of this... 07.09.2015  09:40

• Steel production in China continues to fall China's steel production has been declining after recording its first drop in two decades, as evidenced by the country's latest economic data. Steel production plunged 1.8 percent year on year to 476 million tonnes in the first seven months of 2015, up from a 2.7 percent increase in the same... 06.09.2015  11:25

• US officials re-consider complaint about unfair import of steel pipes US officials have found ample evidence accepting complaints from US steel pipe manufacturers that they are being pressured by exporters from South Korea, Mexico and Turkey, moving them one step closer to imposing import duties. The US International Trade Commission said all six commissioners... 06.09.2015  11:05

• MMK cooperates with Russian metal centers Magnitogorsk Iron and Steel Works (MMK) delivered 565,000 tons of rolled metal to service metal centers in Russia over the seven months of this year. This was noted at the 6th all-Russian conference "Service metal centers: equipment, technologies, market", held in Samara. The MMK spokesman said... 05.09.2015  12:30

• Precious Metals Report GOLD: Gold prices fell after the ECB left rates at an all-time low, fueling the dollar against the euro. Prices recorded their second negative weekly close. Prices fell after the ECB cut its GDP forecast and inflation targets in response to falling commodity prices. Analysts expect an increase in... 05.09.2015  11:49

• Severstal placed an order for the installation of galvanizing and polymer coating lines PAO Severstal has selected the CMI Group as a supplier of a new highly efficient hot-dip galvanizing line and polymer coating line to be installed at its Cherepovets plant in Russia. Severstal has contracted with CMI Industry Metals to provide design and construction services for process equipment... 05.09.2015  10:47

• Italian rebar market expects further decline Market sources indicate that Italian rebar prices are showing further declines throughout September this year. It should be noted that the price remained stable throughout August. The plunging scrap prices in the country, coupled with extremely poor demand for rebar, are cited by experts as the... 04.09.2015  11:52

• Rio Tinto predicts modest growth in global steel and iron ore demand through 2030 Rio Tinto announced that it expects a slight rebound in global demand for iron ore and steel over the next fifteen years. The miner predicts that global demand for iron ore will grow by 2 percent, bringing the annual growth rate (CAGR) to 3 billion tons by 2030. In addition, global steel demand is... 04.09.2015  11:34

• US plans to develop Arctic natural resources During a visit to Alaska, President Obama announced the expansion of the US Navy. The US government wants to increase the number of icebreakers as much as possible to close the gap with Russia. The United States currently has only three icebreakers, while Russia has 40 icebreakers. Eleven more... 04.09.2015  11:13