Metallurgy news

• Chinese steelmakers ask government to stop illegal deals Local steelworkers from China are seeking help from the government to impose strict regulations on illegal steel trading practices in the country. Some steelmakers illegally exploit the loopholes in the Chinese tax structure. They took advantage of an export discount of 9-13 percent by declaring... 10.06.2014  11:58

• NSSC Raises Prices for Stainless CRCs for June Delivery Japan's largest stainless steel maker Nippon Steel & Sumikin (NSSC) has announced an increase in its domestic prices for cold rolled coils and austenitic-grade slabs at JPY 15,000 per tonne under June contracts, according to industry sources. (1 US dollar = 102.480016 JPY) The NSSC indicated... 09.06.2014  13:29

• Ukraine at the request of the IMF is going to sell coal mines and reduce subsidies The Cabinet of Ministers of Ukraine ordered the State Property Fund to prepare documents for 38 state coal mines, which will be sold at an auction. The move is one of the austerity measures put forward by the International Monetary Fund in exchange for loans. Most mines have received support in the... 09.06.2014  12:52

• Iron ore market stabilizes Iron ore futures contracts in China rallied in June as the market stabilized after the recent steep drop in prices that spurred interest from buyers. Oversupply, however, could limit further price recovery. Despite a 13 percent decline in iron ore prices in May, Chinese imports of raw materials... 09.06.2014  12:13

• The world needs 48 trillion. dollars of investment to meet energy demand Business Recorder reported that further development of the global economy will require 48 trillion. dollars of investment in the period up to 2035 in order to meet the growing demand for energy. Countries must invest $ 40 trillion, according to a report released by the Paris-based energy policy... 08.06.2014  13:32

• Former Minister Appointed Administrator of ILVA Former minister Mario Monti has been selected as commissioner for the ill-fated ILVA steel mill in southern Italy, which is at the center of the debate on health and the environment. Piero Gnudi, who headed the Ministry of Sports and Tourism from November 2011 to April 2013, said that Enrico... 08.06.2014  12:02

• Steel production decreased in Ukraine in the first 5 months Crude steel production in Ukraine decreased by 7 percent in the first five months compared to the same period last year to 11.38 million tonnes, according to data published by the Ukrainian Association of Producers Metallurgprom. During this period, the output of pig iron in the country was set... 08.06.2014  11:33

• EVRAZ delivered the first delivery of 100 meter Russian-made rails to Russian Railways The first batch of 100 meter rails with hardened head R65 DT-350 manufactured by EVRAZ ZSMK was sent to the Russian Railways (RZD). EVRAZ is the only company in Russia and the CIS, and only the third in the world, to launch the production and supply of this innovative product. EVRAZ also produces... 07.06.2014  14:21

• U.S. Trade Deficit Reaches Two-Year High The US trade deficit rose to a two-year high in recent months as exports fell and imports rose to a record high. The Commerce Department says the deficit rose to $ 47.2 billion in April, up 6.9 percent from the revised March deficit of $ 44.2 billion. Exports fell for the fourth straight month... 06.06.2014  15:35

• G-7 heads warn Moscow in the face of Putin Leaders of the world's leading economies in seven countries have threatened to impose tougher sanctions on the Russian economy if Russia's actions do not meet the new requirements proposed by leaders on easing tensions in Ukraine, whose new president says there is evidence that Russia is... 06.06.2014  11:58