Metallurgy news
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Russia is going to increase its foreign exchange reservesOver the past year, the Central Bank of Russia has been the main buyer of gold bullion, and this trend will continue for the near future. According to media reports, Elvira Nabiullina, the chairman of the central bank, said there are plans to increase foreign exchange reserves to $ 500 billion over…
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Evraz temporarily suspends production at a plant in the USARussian steel company Evraz is temporarily suspending operations at its North American production base in Pueblo due to weak demand. A company spokesman said we have temporarily scaled down steel production at our Pueblo site for one week to keep up with falling demand. About 100 employees will be…
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NLMK may redirect EU transformer steel exports to IndiaThe Russian steel producer NLMK may redirect part of the export volumes of transformer steel from the European Union to India due to the duties imposed by the European Union on the supply of these Russian products, as stated by NLMK President Oleg Bagrin. He added: “There is also potential to…
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Gold mining is vital to the global economyAccording to a report from the World Gold Council (WGC), the global community should be interested in a strong and reliable gold mining industry. Gold mining had a direct contribution of $ 83.1 billion to the global economy last year, and given the indirect impact, that figure reached $ 171.6…
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Iran can use the Turkish Stream to supply gas to the EUIran is considering using the Turkish Stream pipeline, which is being developed by Russia, to supply gas to Europe, Azizollah Ramezani, director of communications for the National Iranian Gas Company, said on the sidelines of a gas congress held in Paris. He said that "This could be a common field…
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Interpipe speaks of a deficit of scrap metal in the domestic marketDuring the past period of 2015, Ukrainian metallurgical enterprises continue to experience a shortage of ferrous scrap. Thus, the deficit in the supply of this raw material for steel producers amounted to 67,000 tons in April alone, which indicates that supplies are 17 percent lower than needs. At…
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The service sector began to expand in RussiaThe activity of services in Russia, including metalworking, has been increasing for the second month in a row since April this year. The sector is growing at the fastest pace in 17 months thanks to stronger demand and higher orders, in line with the Purchasing Managers Index (PMI). The main…
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International Symposium on the Development of the Iron Ore Market HeldThe 21st International Iron Ore Symposium was held from 1 to 3 June in Vienna and was an ideal meeting place for delegates from key European shopping centers. This was reported in the Kiev training center "Danko" www.danco.com.ua/upravlenchesiyoblikrus.html . Over the last period, the uncertainty…
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Jinchuan Calls for Approval of Norilsk Nickel Supply to SHFEThe Jinchuan Group has called on the Shanghai Futures Exchange (SHFE) to accept foreign brands of nickel for delivery against its nickel futures contracts, and to set appropriate discounts or premiums. Simon Bao, Deputy General Manager of Marketing, Jinchuan Group, announced this at the 12th Market…
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Significant Growth in Scrap and DRI Use ForecastedScrap metal and DRI (spongy iron) demand is forecast to be on the rise until 2019. On the other hand, the pig iron market is likely to remain dormant during this period. The growth in demand for steel products is likely to lead to a significant increase in global demand for scrap metal and DRI over…
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