Metallurgy news
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Global steel prices are under pressureIn its latest quarterly review, Global Metals & Mining assesses the position of steel products in the market and draws some encouraging conclusions for consumers in terms of pricing over the next 18 months. Currently, global capacity has kept utilization below 80 percent, resulting in limited…
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ThyssenKrupp Announces Quarterly Profit After Selling US BlockAdjusted earnings before interest and taxes from continuing operations nearly tripled to € 398 million ($ 532 million) in the fiscal quarter ended June 30. The result exceeded the average forecasts of 363.6 million euros from German analysts. Sales were up 8.3 percent to € 10.7 billion. "The times…
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At least 21 miners were injured after a mine explosion in Donetsk region - State ServiceThe State Service for Mining and Industrial Safety said at least 21 Ukrainian miners were injured after a methane explosion at a coal mine in Donetsk region. The government service said the explosion occurred at about 10:30 am local time at a depth of about 815 meters inside the Pokrovskaya mine.
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Transnet will increase railway capacity to increase supply of raw materialsTransnet SOC Ltd plans to nearly double the capacity of its South African railroad line for transporting iron ore, as the state-owned operator is betting on higher output amid falling prices for steelmaking ingredients, just like the rest of the major miners. As a result, it is planned to increase…
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Middle East region will be the fastest growing in the aluminum marketInvestment in the Middle East aluminum industry is expected to surpass $ 55 billion by 2020, nearly double the $ 30 billion in 2011. The fact is that this region is not only a leading producer of metal, but one of the best consumers of this metal. The emergence of new additional smelting facilities…
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34% EVRAZ Highveld Steel and Vanadium to be soldAccording to representatives of Evraz (an international metallurgical and mining company, which is one of the twenty largest steel producers in the world, whose assets are located in the United States, the Russian Federation, Ukraine, the Czech Republic, Canada, Kazakhstan, Italy, and South…
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The US is running out of gold reservesThe high price of gold allows US mining companies to spend more money on the precious metal. But despite their powerful implementations, the volume of fossils is not increasing, but rather decreasing. In no month of 2014, more than 18 tons of the precious metal have been mined from American mines…
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Alisher Usmanov sells 10 percent of shares of the holding companyThe richest Russian, Alisher Usmanov, sold a 10 percent stake to his holding company partners, fulfilling his promise to reward management. In addition, the sale of shares will provide a new inflow of capital for use in areas that Usmanov considers more promising in the future. Usmanov will retain…
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High nickel prices have triggered a restart of frozen minesThe huge rise in nickel prices prompted many companies to restart operations at their mines. In Australia, three companies Avebury Nickel, Poseidon Nickel and Panoramic Resource announced the reopening of their nickel mines, hoping to profit well from the rapid rise in nickel prices. In addition…
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Nippon Steel and Krakatau Steel to Build Automotive Sheet PlantThe world's second largest steel producer, Nippon Steel & Sumitomo Metal Corp, announces that it has signed a definitive joint venture agreement with Indonesia's largest steel producer, Krakatau Steel, to produce and sell automotive flat products in Indonesia. The Krakatau Nippon Steel Sumikin…
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