Metallurgy news
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Steel price in China falls to new low level - CISAAccording to the CISA, China produced 618 million tonnes of steel, 542 million tonnes of pig iron, 839 million tonnes of steel products during the first three quarters of this year, representing an annualized increase of 2.34 percent, 0.38 percent and 5.02 percent, respectively. In October, China's…
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Severstal plans to build a new coating workshop in CherepovetsOJSC Severstal, one of the world's leading steel and mining companies, has launched a project to build a new coating workshop at the Cherepovets Metallurgical Plant. The total investment in the project will exceed 6 billion rubles. The complex of metal coatings will consist of a hot-dip galvanizing…
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Stronger steel demand is still foreseen in 2015 - EUROFEREconomic growth in the EU remains weak in 2014, with particularly disappointing performance in the eurozone in recent months. This is because exports are the main driver of growth, not domestic demand. In the third quarter, the numbers are weakening, but show that the EU economy will continue to…
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Iron ore could drop to $ 70 a tonne - MorningstarAnalysts at Research House Morningstar have significantly lowered their forecasts for the price of iron ore, predicting even greater problems for miners. While the previous long-term forecast was $ 90 per tonne of iron ore, Morningstar now envisions a decline to $ 75 per tonne. The firm's analysts…
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Dubai pays its citizens in gold for weight loss7,350 Dubai residents who participated in the Municipal Weight Loss Program will be rewarded with gold coins. According to media reports, Dubai municipal authorities are giving away nearly 40 kilograms of gold this week, worth more than $ 1.5 million, to citizens who have lost at least two…
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ArcelorMittal opposes Chinese imports of steel productsSouth Africa's largest steelmaker, ArcelorMittal South Africa, said the government should impose tariffs on cheap steel imports from China as the company seeks to achieve profit margins. Paul O'Flaherty, the company's chief executive officer, said in an interview in Johannesburg that…
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NLMK Group modernizes production of hot and cold rolled steelNLMK Group, a leading Russian manufacturer of rolled steel and high value-added products, has completed the modernization of its 2000 hot strip mill with a capacity of 5.7 million tonnes of rolled steel per year. The project involved the modernization of the take-off roller table, the equipment…
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Ukraine has reduced the production of iron oreThe Cabinet of Ministers of Ukraine said that the production of iron ore and iron ore concentrate in the country in total decreased slightly during the period from January to September compared to production in the previous year. At the same time, production of iron ore in the country decreased by…
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The world gold market did not ignore the increase in gold reserves of RussiaGold bullion prices in the London wholesale market fell to 3-week lows as global stock markets and commodities rallied ahead of the Fed's decision. With an increase in interest rates in 2015, gold will win, and vice versa, says Swiss financial group MKS. although gold is expected to strengthen in…
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The largest copper producer in the world reduced production in SeptemberCopper production in the country fell 5 percent on an annualized basis, according to data released by Chile's National Institute of Statistics (INE). Chile's copper production during September this year was 464,572 tons, down from 489,170 tons in the same month last year. The drop in output from…
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