Metallurgy news
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Gold demand reveals important changes in the global economyGlobal gold demand in the first quarter of 2015 fell 1 percent to 1,079 tons, compared to the first quarter of 2014, when total demand was at 1,089 tons. However, the World Gold Council (WGC) still sees some improvement in the gold market despite an overall decline in demand in the first three…
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Chinese metallurgists may avoid South Korean duties on I-beamsSeven Chinese metallurgists will be able to avoid anti-dumping duties from South Korea after the official Seoul accepted their proposal to increase the price of I-beams shipped to that country. Similar actions in Asia and Europe are intended to curb the rise in exports of cheaper steel products…
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Arcelor Mittal announces closure of Georgetown wire rod plantArcelor Mittal North America has decided to close its Georgetown, South Carolina wire production in the third quarter of this year. The company said “difficult market conditions” were the main reason for the closure. According to the company, high transportation costs, unfair and cheap imports from…
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Steel consumption in China may fall by 6 percent this year - CISAChinese industry representatives stressed that the slowdown in economic growth in the world's 2nd economy will continue to negatively affect industrial demand for steel. In this connection, the Association of Chinese Steel Producers CISA believes that steel consumption in China may decrease by 6…
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EU fixes import duties for electrical steelThe European Union plans to impose anti-dumping duties on electrical steel imports from Russia, China, South Korea, Japan and the United States to protect European steelmakers from cheap imports entering the EU market. This decision was taken following the consideration of a complaint filed by…
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US scrap metal exports rise in MarchExports of scrap metal in this country since the beginning of 2015 have tended to decline. However, exports rose sharply during March this year, as evidenced by the latest data released in the US by the International Trade Commission. According to these data, the export of scrap metal from the…
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Steel production in Ukraine fell by 30 percent in January-AprilAccording to the data of the METALLURGPROM business association, steel production in Ukraine decreased by 30 percent to 7.08 million tonnes in the first four months of 2015 compared to the same period last year. The merger said pig iron production fell 32 percent to 6.43 million tonnes, while…
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Rusal reported profit in Q1Rusal made a net profit of $ 228 million in Q1 2015, up from a loss of $ 246 million in the same period last year, according to a report on the Hong Kong Stock Exchange. Rusal's profit was driven by higher LME aluminum prices, ruble depreciation and cost control, although the largest aluminum…
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Belarus and Turkey are going to significantly increase the production of tinThe commissioning of new factories in Belarus and Turkey will significantly increase the production of electrolytic tin. The new lines will ensure the growth of exports from these countries to the CIS and the European Union. The two facilities together are expected to add 495,000 tonnes of tinplate…
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Severstal knocks out equipment from CMI IndustryThe new complex of metal coatings will be built at the site of the Cherepovets Metallurgical Plant, the largest integrated steel plant in the Severstal division. The Belgian company CMI Industry was selected as a supplier of technological equipment. The complex consists of a continuous hot-dip…
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