Metallurgy news
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ThyssenKrupp Raises Full Yearly Sales ForecastThe German steel giant has released a performance update for 2014. Heinrich Hisinger, CEO of the company, said: “We have achieved positive net income for the first time in seven quarters. This shows that our performance program is working and our changes in operations have resulted in stronger…
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Metallurgy of Greece has reached a point of no returnThe local metallurgy of Greece has reached a point that market experts believe led to the closure of companies and is an irreversible milestone, despite efforts to stay alive. The government measures, as it seems to experts, are too small, too late, so employees expect the worst possible scenario…
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BHP Billiton Close To Sell Shares In Guinea MineArcelorMittal is in talks with Australian mining company BHP Billiton to acquire a stake in a major Guinean iron ore deposit. The deal is valued at $ 500 million and will be completed within a month. BHP has long sought a buyer for its 41.3 percent stake in Mount Nimba, a rich mine on the border…
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Japanese metallurgists took a course to intensify foreign expansionJapanese steelmakers, amid a rebound in the domestic market following massive government stimulus, are looking to boost expansion overseas and are now taking over Asia despite an oversupply in the region. The new overseas moves mean major Japanese steelmakers will produce more than half of their…
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US KMT recalls duties on welded stainless steel pipes from ChinaThe United States International Trade Commission voted to expedite the lifting of its five-year countervailing and anti-dumping duties on China's stainless steel welded pressure pipes. As a result, the Commission wants to determine whether the cancellation of these fees will actually lead to…
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ArcelorMittal Europe reports € 58 million in operating profit for Q1 2014ArcelorMittal Europe generated an operating profit of € 58 million in the first three months of 2014. In the 4th quarter of 2013, operating losses amounted to € 396 million. The restructuring of expenditures, totaling € 302 million, had a positive impact. The improvement was mainly due to higher…
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World iron ore prices may fall below $ 100Iron ore prices continue to slide lower this week as the Chinese steel market remains sluggish and iron ore miners' inventories have increased worldwide. Steel Index Ltd of 62 percent ore delivered to the Chinese port of Tianjin fell 1 percent over the past week to $ 102.70 per tonne, reaching its…
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Severstal may sell Dearborn and Columbus steel mills to exit the United StatesSeverstal, the second largest steel producer in Russia, is considering selling its North American facilities. Severstal received offers from two potential buyers, US Steel Corp and Brazilian Companhia Siderurgica Nacional SA. Severstal's operations in the United States are conducted at two steel…
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Russia and Serbia will build a gas pipeline to EuropeThe foreign ministers of Russia and Serbia announced that their countries were ready to build the largest gas pipeline to Europe and confirmed that representatives from Moscow and Belgrade had discussed the Ukrainian crisis face to face. The meeting between Sergei Lavrov and his Serbian counterpart…
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Iron ore reserves at a mine in Karnataka have been significantly increasedThe National Mining Development Corporation has revised its upper estimate for iron ore reserves at its Donimalai mine in Karnataka, owned by state-owned NMDC. It was found that the mine's potential reserves are almost seven times higher than previous figures. The estimated reserves have been…
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