Metallurgy news
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NLMK plans to close a plant in FranceNLMK Group intends to close an unprofitable coated steel plant in Botor. The plant is part of the European division of the group - NLMK Coating. The annual production capacity of the plant is 350 thousand tons of cold-rolled steel and 240 thousand tons of galvanized steel. The main consumers of…
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What Affects Commodity PricesThe US dollar determines the pricing mechanism for most commodities such as iron ore, pig iron, scrap metal, coking coal and zinc. This is because the dollar is the world's reserve currency. Essentially, there is an inverse relationship between the US currency and commodity prices. The rise in the…
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Gold is recovering from the collapse of global marketsGold prices rallied on Wednesday after global markets began to crash, prompting investors to buy the precious metal, which appears to be finally recovering to a safe haven. Gold futures for the most actively traded February contract rose 1.2 percent to $ 1.102 an ounce on the New York Mercantile…
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Dneprospetsstal summed up production results for 2015Dneprospetsstal summed up production results for 2015 Electrometallurgical plant "Dneprospetsstal" during December 2015 produced 20,997 tons of steel, which is 20.6 percent higher compared to the previous month. In December, the plant produced 11,560 tons of rolled steel, which is 1.3 percent more…
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Ruble falls to record low against dollarThe fall in oil prices is pushing the Russian currency to a record low against the dollar. Economic forecasts for the country are also lowered. On Wednesday, the dollar was more than 80 rubles and the euro was 88.14 rubles, the highest level since December 2014. True, at that time one had to pay…
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Copper price outlook downgraded even amid rising consumptionChile's Copper Market Health Commission, Cochilco, has announced new copper price projections and estimated metal demand and supply in 2016 and 2017. Cochilco lowered its 2016 copper price forecast to $ 2.15 per pound. The new forecast is significantly lower compared to an early $ 2.53 a pound…
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Oil price in Asia falls to new lowsIn Asia, oil prices have dropped significantly again. If this trend continues, the crisis in emerging markets and in oil-producing countries will accelerate. Oil prices fell to new lows. In Asia, a barrel (159 liters) of crude oil is trading at $ 27.55 on Wednesday. This was the lowest level in…
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Poland is not going to introduce the euroThe new Polish government has no plans to adopt the euro in the foreseeable future, citing current turbulent economic conditions as an argument. The Polish finance minister, at a meeting with his colleagues from France and Germany in Berlin, said that accession to the euro is not a priority for a…
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Zaporizhstal increases tax payments by 73 percentDuring 2015, PJSC Zaporizhstal significantly increased tax transfers to the state budget, by 73 percent, which amounts to UAH 1.05 billion. At the same time, Zaporizhstal paid UAH 2.5 billion. taxes to the state. While in the previous year tax transfers amounted to UAH 1.4 billion. The amount of…
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Why the rich get richer - Oxfam reportThe combined assets of the poor half of the world's population have declined by more than 41 percent over the past five years, despite a population increase of 400 million. At the same time, the wealth of the richest 62 individuals grew by more than half a trillion dollars. The rate at which the…
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