Metallurgy news

• POSCO achieves capex cuts in 2014 POSCO, South Korea's leading steelmaker, has cut its investment this year by more than 10 percent from its original plan to improve the company's financial position. According to information provided by the steel company, it reduced capital expenditures in 2014 to 5.7 trillion. KRW with 6.5... 20.05.2014  09:02

• Norilsk Nickel will invest $ 9.5 billion in itself May 19, London. The world's largest producer of nickel and palladium, MMC Norilsk Nickel, plans to invest about US $ 9.5 billion in its own development over the next three years. This was announced by the first deputy general director of Norilsk Nickel Pavel Fedorov during a conference call on... 19.05.2014  16:23

• Denis Pushilin elected head of the DPR May 19. Donetsk. According to the recently adopted constitution of the Donetsk People's Republic (DPR), the deputies of the DPR Supreme Council elected the speaker of the People's Council Denis Pushilin as the head of the presidium. This was announced by the co-chairman of the DPR government,... 19.05.2014  16:03

• Metalloinvest continues to expand its fleet of heavy machines Heavy excavators of the Japanese company Hitachi with a lifting capacity of 23 cubic meters were put into operation at the open mines of Lebedinsky and Mikhailovsky GOKs (both Metalloinvest). The equipment was acquired as part of Metalloinvest's investment program. This type of machine was first... 19.05.2014  11:27

• TMK supplied large-diameter pipes for large customers Pipe Metallurgical Company, one of the world's leading suppliers of pipe products to the oil and gas industry, has shipped large-diameter pipes made at its Volzhsky Pipe Plant for Gazprom, which is building the Bovanenkovo-Ukhta pipeline. Within the framework of the project, from March to April... 19.05.2014  09:52

• A photo exhibition of MMK "Steel Heart of Russia" was held in Malta The opening ceremony of a photo exhibition dedicated to the Magnitogorsk Iron and Steel Works, one of the world's largest steel producers, took place in Valletta at the Russian Center for Science and Culture in Malta. Today MMK is a modern metallurgical complex that meets the highest... 18.05.2014  12:00

• POSCO plans to close 10 non-core branches At the first meeting of the POSCO Board of Directors after the inauguration, Chairman Kwon Oh Zhong decided to close some of the underperforming subsidiaries within the next three years. Of the 46 existing subsidiaries, more than 10 are losing money in non-core areas and are subject to scrapping... 18.05.2014  11:32

• EMZ repaired oxygen converter Yenakiyevo Metallurgical Plant of Metinvest Group carried out a major overhaul of its 160-ton oxygen converter with a partial reconstruction of the gas outlet. The overhaul has improved the efficiency and reliability of the equipment while reducing the environmental impact at the same time. A... 17.05.2014  13:59

• Russia held talks with Voestalpine on the supply of steel for the gas pipeline Austrian steel and technology group Voestalpine says it is in talks with Moscow to supply steel for the previously planned South Stream gas pipeline. The talks were successful despite escalating tensions between Russia and the West over Russia's annexation of the Crimean peninsula earlier this... 17.05.2014  13:31

• Shanghai Steel Rebar Futures Hit Record Low Chinese steel futures hit an all-time low and iron ore contracts fell 3 percent, while fragile global demand for finished goods swayed amid slow economic growth. Rebar for October delivery on the Shanghai Futures Exchange fell to $ 490 per tonne, the lowest level of most active contracts since... 17.05.2014  12:32