Metallurgy news
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Rio Tinto Increases Iron Ore Production As Commodity Prices FallRio Tinto, the Anglo-Australian mining giant, continues to increase its iron ore output even as the commodity's price has dropped substantially. The company's iron ore production increased 13 percent in the month of December, and 17 percent for the whole of 2014, compared to 2013. The company is…
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Odisha supports POSCO in obtaining a licenseThe Odisha state government wants the central government to grant South Korean POSCO a license to explore for iron ore and develop steel capacity in Odisha, which is being hindered by a new law that provides for an auction for all mines that open. The law, passed by Indian Prime Minister Narendra…
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The global zinc market is in short supplyThe latest statistics published by the International Lead and Zinc Research Group (IGISC) indicate that the global zinc market was in short supply throughout 2014, with zinc stocks declining by 326,000 tonnes in eleven months. Miners in Australia, Canada, India, Ireland and Namibia reported…
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ArcelorMittal sells the only asset in RussiaArcelorMittal, the world's largest steel producer, is selling its only asset in Russia, a Siberian coal company, according to documents from the Federal Antimonopoly Service (FAS). The steel giant sells Severny Kuzbass, which owns two coal mines in southwestern Siberia. Northern Kuzbass goes to a…
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Copper escapes lossesThe price of one of the most important non-precious metals at the end of 2014 fell to its lowest level since July 2009 at $ 2.50 per pound. This was reported by the supplier of electrical equipment UKRM Elcom-Energo. This metal is economically sensitive. Copper was down 14 percent late last year…
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German metallurgists predict slow growth in 2015Growth in Germany's iron and steel industry will remain slow this year as China and Russia push cheap products into the European market, the head of the German Steel Federation said. German metallurgy groups such as ThyssenKrupp and Salzgitter estimate steel production in Europe's largest economy…
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Steel exports from China fall in January due to export policy adjustmentsOutbound shipments of Chinese steel products are expected to fall in January 2015, as predicted by experts in the Shanghai Metals Market. Removal of export tax rebates for some boron-added steel products starting in 2015 will negatively impact exports.
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Brazilian steel mills raise flat steel pricesBrazilian steelmakers have announced increases in flat steel prices for order and delivery starting this week, local distributors said. According to the new price list, the price of hot rolled coils will rise by nearly 5 percent, cold rolled coils by about 6 percent and galvanized coils by 8…
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Steel will continue to dominate the automotive industryA division of the American Iron and Steel Institute (SMDI), expresses confidence that a constant influx of new steels will be able to maintain 60 percent of steel in the materials used in the automotive industry in the future. The SMDI president predicts that steels currently being developed for…
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Turkey's gold imports fell 57 percent in 2014Turkish gold imports throughout 2014 fell sharply compared to 2013 and amounted to 130.9 tons, a decrease of 57 percent. Turkey imported 302.3 tons of gold worth about $ 16 billion in 2013. However, in November 2014, the country's gold imports reached their highest level in 18 months. Imports…
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