Metallurgy news
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TimkenSteel stops paying quarterly dividendsThe world's largest producer of high-quality round steel SBQ, the American company TimkenSteel, is suspending its quarterly dividend program for the first time since 2014. The decision of the Board of Directors is based on a sharp deterioration in the market situation. The last dividend was paid on…
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Posco will be delisted from the Tokyo Stock Exchange on December 14South Korean metallurgical company Posco has secured a ban on trading its securities in Japan. Posco shares will be delisted from the Tokyo Stock Exchange on December 14, 2015, the company said on Friday. Earlier it was reported that the largest metallurgical company in South Korea appealed to the…
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PJSC "Zaporizhstal" celebrates the 82nd anniversary of the founding of the plantAt PJSC "Zaporizhstal", within the framework of the solemn celebration of the 82nd anniversary of the founding of the plant, 57 best employees will be awarded certificates of honor, valuable gifts and a cash prize. The total amount of funds allocated for bonuses to employees amounted to more than…
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Rusal: more than half of all aluminum production in the world became unprofitableRusal estimates that at current premium aluminum prices, about 53 percent of the world's total aluminum production capacity (14 million tonnes per year) outside China is unprofitable. In China itself, about 50 percent (more than 70 percent at end-October prices), or 15.7 million tons, of capacity…
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Interpipe raised wages at its factories by 10 percentAccording to Victor Pinchuk's company, this is the second increase in salaries at Interpipe since the beginning of the year. The total monthly income of the company's workers increased by 20 percent and amounted to an average of 6400 hryvnia (approximately $ 280). Interpipe noted that wages at the…
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Chronicle of the apocalypse in the global steel marketOver the past two to three weeks, the news of the global steel market most of all resembles the chronicle of the apocalypse of the global steel industry Here's a look: Essar Steel Algoma, a Canadian flat products manufacturer, has filed for lender protection for the second time in 18 months. Scrap…
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Metallurgprom predicts a 15 percent reduction in steel production in UkraineThe branch association of enterprises "Metallurgprom" expects that by the end of 2015 the production of the main types of products will be: • pig iron - 22 million tons (89 percent of production in 2014); • steel - 23 million tons (85 percent of production in 2014); • rolled products - 21 million…
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China's monthly steel production stabilizes at 66 million tonnesIn October, China smelted 66.12 million tons of steel, which is in line with production in September, but 3.1 percent lower than in October 2014. Nevertheless, taking into account the fact that there are more days in October for a day, and the average daily steel production in China is 2.2 million…
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Azovstal stops pig iron productionThe Mariupol metallurgical plant Azovstal of Rinat Akhmetov's Metinvest group sharply reduced the output of the main types of metal products and stopped the production of pig iron due to the fall in demand and the collapse of prices in the world market. This was reported by the press service of…
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Bloomberg: Kremlin wants to block Kiev's next IMF paymentNovember 11, Kiev. At stake is the question of Kiev receiving the next payment of $ 1.7 billion from the International Monetary Fund (IMF), Bloomberg correspondent Andrei Mayeda reports. The Kremlin is exploring the possibility of blocking further lending by the fund to Ukraine if the latter…
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