Metallurgy news
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UK SSI may stop productionUK steel company SSI UK, which made headlines over concerns over debt repayment, announced that its iron and steel operations at Teesside would be on hold. SSI UK is Thai owned. The announcement was met with disappointment in the ranks of the UK steel organization. Director Gareth Stays called the…
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JFE Steel acquires a stake in a steel complex project in VietnamTokyo: JFE Steel Corporation has signed a $ 225 million contract to acquire a five percent stake in Formosa Ha Tinh (FHS), a joint venture that is currently building integrated steel plants in Vietnam. The project was spearheaded by the founder of Formosa Plastics Group, a Taiwanese integrated…
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Russia is considering the possibility of reducing oil productionFor the first time, Russia is raising the issue of cutting oil production if the price of oil falls below $ 40 per barrel. Deputy Energy Minister Alexei Teksler said that at less than $ 40 a barrel, oil production is likely to be reduced, although the price only slipped below $ 49. Russia has never…
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ThyssenKrupp promotes smart citiesDiversified industry group ThyssenKrupp is calling for more energy efficient urban infrastructure, analyzing that an energy saving program for existing buildings needs to be implemented within 15 years. Building elements such as elevators, heating, ventilation and cooling systems still do not…
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NLMK has reduced its environmental impactNLMK Group, one of the most efficient steel companies in the world, announced improvements in the environmental performance of its facilities in Russia during the first half of 2015 amid increased production. Steel production in 1H 2015 increased by 3 percent year on year, and the environmental…
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Fed leaves key interest rate unchangedThe US Federal Reserve System kept the key interest rate at a record low, from 0.0 to 0.25 percent per annum. At the same time, the Federal Open Markets Committee does not exclude that the key rate will be raised by the end of the year to 0.4 percent per annum. The Fed raised the interest rate on…
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Exports of Russian steel scrap are growingIn the first six months of this year, Russian exports of scrap metal increased slightly. The average monthly export volume of ferrous metal scrap from the country amounted to 460 thousand tons. Throughout 2015, Russian exports of scrap metal are expected to amount to 5.17 million tonnes. According…
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Russian metallurgical companies may report solid profits in 2 half of the yearRussian steel companies should earn solid earnings in the second half of 2015, despite slowing global and domestic demand and weak prices. Ratings agency Fitch said in its report that Russian steel companies are well positioned to report solid profits in the second half of this year. Even a decline…
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Steel production in Ukraine may continue to fall in the second half of the yearAccording to the Ukrainian Association Metallurgprom, steel production in Ukraine is expected to reach 1.9 million tons in October this year. At the same time, Ukraine plans to produce 1.9 million tons of pig iron and 1.8 million tons of general rolled steel. However, in September Ukraine's targets…
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US lowered weekly output of crude steelAccording to statistics from the American Iron and Steel Institute (AISI), crude steel production in the country fell sharply during the week ending September 12, 2015. Total domestic crude steel production last week was 1.694 million tonnes. AISI data show that crude steel production in the United…
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