Metallurgy news
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POSCO Decides Not to Buy Dongdu Power & Steel FacilitiesPOSCO, the largest South Korean steelmaker, said it is postponing its decision to buy two units of the Dongbu Group due to its financial difficulties, despite pressure from the government to keep the facilities in South Korea. The world's sixth largest steelmaker is currently struggling with high…
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Chinese steel prices stabilize amid good economic newsFinally, there was a glimmer of hope in the steel and iron ore market with the appearance of instructions to local authorities about the possible state stimulation of the economy, which will inevitably affect the world price level. Some stimulus measures have already begun to be implemented to…
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Emirates received permission to build an alumina refinery in GuineaEmirates Global Aluminum (EGA) has received approval from the Guinean Parliament to amend the contract for the construction of a new alumina refinery with a capacity of 2 million tonnes in 2018. Guinea's legal adviser said the National Assembly unanimously approved the amendments to the EGA…
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In the CIS, steel production increased by 1.9 percentAccording to the latest figures released by the World Steel Association, steel production in the Commonwealth of Independent States (CIS) increased 1.9 percent year on year during the month of May 2014. The total volume of crude steel production in Belarus slightly decreased by 0.8 percent in May…
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NLMK supplies 1 million tonnes of OMK slabs for large-diameter pipesAs part of a long-term contract, NLMK Group, one of the main steel producers in Russia, supplied OMK Group, the leader in the Russian large-diameter pipe market, with more than 1 million tonnes of slabs for the production of large-diameter pipes. These figures were announced during a working…
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Steel production in Europe climbed 2.7 percent in May this yearAccording to the latest data released by the World Steel Association, crude steel production in the EU-28 countries rose 2.7 percent during the month of May on an annualized basis. The highest steel output in May was achieved by Germany. Germany produced 3.922 million tonnes this month, up 7.3…
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BHP Billiton plans to increase mining efficiency through job cuts and other costsBHP Billiton, the largest miner in the world, employs approximately 16,000 people in its iron ore division. BHP sees job cuts at its flagship Australian Iron Ore division as a way to keep costs down as ore prices have fallen and costs need to be curbed. This was reported in www.provod-cabel.com…
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Steelmakers' profits rise amid cheap coalSpot coking coal prices are down 17 percent this year, and contract prices are expected to fall 7 percent over the next three months. China's efforts to reduce pollution, coupled with surplus shipping coking coal, will help lower the price of the commodity, according to Hong Kong analysts at UOB…
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The Supreme Arbitration Court of the Russian Federation supports NLMK's actionsThe Supreme Arbitration Court of the Russian Federation upheld previous court decisions to cancel the decision of the Federal Antimonopoly Service, which confirmed the involvement of Novolipetsk Metallurgical Plant in the application of unreasonable prices for transformer steel for Russian buyers…
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Russia reduced imports of seamless stainless steel pipesAccording to the data of the Association "Spetsstal" in the first quarter of 2014, the volume of imports of seamless stainless pipes decreased by 47.5 percent and amounted to only 2,128 tons, compared to the same period last year. The main imported goods were cold rolled seamless pipes. Such metal…
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