Metallurgy news
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Russia will increase production of rare earth metalsRussia possesses significant reserves of rare earth elements, but still produces quite a bit. China controls the rare earth market. The demand for these products is growing rapidly, and Russia can take advantage of it, according to industry experts. Often, when talking about the largest producers…
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POSCO identifies key steps to increase profits in 2015POSCO is a large steel manufacturer headquartered in South Korea. In contrast to the weak forecasts for US GDP, the estimate for the South Korean economy predicts 3.8-4.0 percent growth for both 2015 and 2016. Under these conditions, POSCO is well positioned given its deep-rooted position in the…
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Turkish rebar exports rose sharply in MarchThe monthly import and export statistics published by the Turkish Statistical Institute (TUIK) show that the export of rebar from the country increased significantly during March and the first quarter of this year. Imports of billets and slabs also showed growth over the reporting period. Turkey's…
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Norilsk Nickel presented an update to its annual strategyNorilsk Nickel, the world's largest producer of nickel and palladium, presented to the investment community a corporate strategy aimed at increasing the company's shares and strengthening its leadership in the industry. The main directions of the strategic initiatives will be the modernization and…
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Steel price fell to 12-year low in ChinaChinese prices for steel products, used primarily for home and building construction, fell to a 12-year low as demand from the world's largest steel consumer is peaking in the construction season. This trend will inevitably affect world steel prices. The average rebar price fell to 2,458 yuan ($…
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Military scrap metal in the USAAll nuclear powered ships in the US Navy sooner or later go to the Puget Sound Naval Dockyard in Bremerton, Washington, where they reach the end of their lives. Since the early 1990s, the shipyard has developed a reprocessing plan and has independently disposed of old submarines and cruisers that…
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Kobe Steel plans to start merger of construction equipment companiesKobe Steel Ltd, the 5th largest steel producer in Japan and 15th in the world, announces the reorganization of its subsidiaries. Kobelco Construction Machinery Co., Ltd. and Kobelco Cranes, Ltd. agreed to begin consideration of a business combination with the aim of integrating the two companies…
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EVRAZ dismisses 50 employees at Regina steel plant and continues expansionThe layoffs were announced at the Evraz steel plant in Regina. The company says it will lay off 40 to 50 employees in its steel operations starting May 17. In a statement, the company said the layoffs are necessary "to align the level of personnel with operations, which are currently lower due to…
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Environmental activists oppose Shell oil drilling in the Arctic OceanIn Northern California, activists protested Shell's plans to explore for fossil fuels in the Arctic Ocean. In opposition to a rig in Seattle, several dozen activists boarded and kayak and rowed towards the middle of Elliott Bay, deploying a banner. Seattle's water protests came after environmental…
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China's steel output fell 0.8 percent in AprilChina's crude steel production totaled 68.91 million tonnes in April 2015, down 0.8 percent from the previous month and 0.1 percent year on year. Pig iron production in April this year was 59.49 million tons, down 1.3 percent on a monthly basis and 3.3 percent on an annualized basis.
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