Metallurgy news
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Posco's operating profit increased 0.5 percentSouth Korean steel company POSCO said its third-quarter operating profit increased 0.5 percent to 638 billion won (approximately $ 566 million). Analysts had expected Posco's profits to fall to 608 billion won. According to the company, it was able to increase profits thanks to the consistently low…
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More than 5,000 metallurgists lost their jobs in the UK in three weeksThe scale of the crisis in the UK metallurgical industry was estimated by the Independent, calculating that 5,100 people have been laid off in the industry since the beginning of the month. At the same time, David Cameron's cabinet has completely withdrawn from the solution of this problem, British…
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S&P upgraded Ukraine's credit rating to B- /BThe international rating agency S&P has upgraded the rating on long-term and short-term liabilities of Ukraine in foreign currency from SD /D (selective default) to B- /B. The sovereign rating of Ukraine on long-term and short-term liabilities in the national currency was raised from the…
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Leaders of 75 steel companies worldwide sign Sustainable Development Charter WorldsteelWorld Steel Association Worldsteel announced that the Charter for Sustainable Development, developed by it, was signed by the heads of 75 steel companies of the world. The charter includes seven main principles for the sustainability of the steel industry, including: an effective financial…
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Metallurgists of Great Britain have announced three demands for the governmentAt a summit held on Saturday with the participation of heads of metallurgical companies and the British government, businessmen voiced three main requirements, the fulfillment of which could save the dying steel industry of Foggy Albion. First, the metallurgists have demanded to immediately reduce…
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AK Steel Shares Down 6.54%AK Steel Holding Corporation shares lost 6.54% last week. Since the beginning of the year, the shares of the metallurgical company have plunged 55.38 percent. Low steel prices and a high level of competition with imported rolled metal products forced the company to begin mass layoffs and shutdown…
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Metallurgists in China reduced purchase prices for scrap metalSteel mills in China have announced that the purchase price of scrap metal has been reduced to RMB 1,200 (approximately US $ 190) per tonne. The reason for the decline in purchase prices was a record drop in prices for steel reinforcement in the domestic market of the PRC. Traders anticipate…
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Donetskgormash restores foundryThe largest mining engineering enterprise in Donbass and Ukraine, Donetskgormash State Enterprise, has launched its own foundry production of parts for mining equipment for the first time in 6 years. The Donetsk News Agency (DAN) was informed about this by its director Vasily Mudretsov. “We have…
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Merkel: German investments will not come to Ukraine as long as the country is ruled by oligarchsThe dominant role of oligarchs in Ukraine must be abolished if the country wants to receive German investment. This was stated by German Federal Chancellor Angela Merkel in her weekly video message, dpa agency reports. “People need to be provided with transparency, corruption must be fought,” the…
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British Minister supported the idea of reducing electricity tariffs for metallurgistsEdwina Kharg, the Minister of Economy of the Welsh Government, supported the urgent need for government action to address the high energy costs of metallurgical companies. This opinion was expressed by Kharg during a summit held on Friday with the participation of members of the British Cabinet…
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