Metallurgy news
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Renault made a profit even amid losses AvtoVAZDespite great difficulties in the Russian market, French carmaker Renault made its profit last year, which could increase significantly this year. Net income in 2015 rose 48 percent to 2.96 billion euros, the company announced. The company's revenues increased by about ten percent compared to 2014…
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Evraz announces the closure of its Portland steel pipe plantEvraz North America has decided to close its Portland steel pipe plant indefinitely. The company attributes the closure to regulatory issues and unfavorable market conditions. Evraz decided to shut down the plant on April 9, thereby leaving 230 employees unemployed. According to a statement from a…
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Russia, Iran and Azerbaijan create an energy corridorRussia, Iran and Azerbaijan are working on the creation of a joint North-South energy corridor. The lifting of sanctions on Iran should play an important role in the development of ties with this country. The creation of the North-South corridor is especially important for Azerbaijan. For this…
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US steel exports fell 17.2 percent in 2015Steel exports from the United States fell 17.2 percent in 2015 to a total annual volume of 9.97 million tonnes. The strong US dollar and the recession in Canada have contributed to a significant decline in US exports, according to the American International Steel Institute. More than half of US…
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Aluminum troublesThe continuous drop in global aluminum prices, which was 40 percent from $ 2,474 per tonne in November 2014 to $ 1,479 per tonne in January 2016, affected the profitability of the companies. Huge overcapacity products in China's aluminum sector are spilling over into the market, causing many…
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Minibus exploded near Maryinka - 3 people diedIn the Maryinsky district of the Donetsk region, a minibus, which was heading from Donetsk to Kurakhovo, was blown up by an unidentified explosive device, two people died immediately. A bus carrying five civilians was blown up by a mine near the Novomikhaylovka checkpoint. One person died on the…
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Nickel production will continue to decline in 2016The sharp decline in demand from China continues to keep nickel prices under pressure. The metal fell to nearly 13-year lows of $ 7,900 a tonne on the London Metal Exchange (LME). This price level was in April 2003. The fall in nickel prices was mainly due to the decline in steel production in…
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Gold rises to 8-month highGold prices rose sharply this week, reaching an eight-month high and hitting $ 1,200.00 an ounce. Strong demand for gold as a safe haven was shown when global stock markets came under selling pressure again, starting the trading week. The chart based on US consumer demand is as sharp as the current…
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ArcelorMittal plans to cut spending on US assetsArcelorMittal, the world's largest steelmaker, has announced cutbacks at its US steelmaking facilities. The company reported a $ 8 billion loss in 2015, citing low iron ore prices as one of several reasons that led to huge losses throughout the year. Several cost-cutting measures have already been…
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Global currency wars are spiraling out of controlThe devaluation of the Chinese yuan could trigger a global banking and debt crisis. China could be seriously damaged in this global currency war. The winner will be the US hedge funds, whose speculation could be the deal of the century. The risk of a rapid devaluation of the yuan is real, the…
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