Metallurgy news
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Italian factory modernization threatens 4,000 jobsThe blast furnace at the Italian ironworks Lucchini was shut down this week, threatening to cut 4,000 jobs, despite Pope Francis calling on officials to do whatever it takes "to rekindle hope." The authorities are "determined to rebuild the furnace, which will use advanced technology, and to ensure…
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POSCO cuts 2014 sales and investment forecasts on weak steel demandSouth Korean steelmaker POSCO cut its sales and investment guidance for this year after its first-quarter profit fell short of preliminary estimates, as the Chinese economy slows down, which is holding back steel demand. The world's fifth-largest steelmaker, like its competitors, is struggling for…
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Mechel signed a transportation agreement with OJSC TransContainerMechel OJSC, one of the leading Russian companies in the mining and metallurgical industry, reports that it has signed agreements on the creation of a system for the transportation of goods with the leading container operator in Russia, OJSC TransContainer. The agreement was signed on the sidelines…
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Bulgaria will build South Stream against the will of the EUBulgarian Energy Minister Dragomir Stoinev met with EU Energy Commissioner Gunter Oettinger to discuss the future of the Gazprom-sponsored South Stream gas pipeline. But both sides offered widely diverging interpretations of further cooperation with Russia. Speaking to reporters after the meeting…
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NLMK threatens EU with job losses when imposing sanctions against RussiaThe Russian steel company NLMK is threatening to halt production in Western Europe if the EU decides to impose economic sanctions on Moscow. La Libre Belgique showed a letter from NLMK management to the European governments of the countries in which the company is located, namely Belgium, Italy…
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Bosnian miner ArcelorMittal Prijedor invests in uranium enrichmentSarajevo, Bosnia and Herzegovina - Bosnian iron ore miner ArcelorMittal Prijedor plans to maintain concentrate production in 2014 after receiving 2.1 million tonnes of production last year, says CEO Mladen Jelaka. He said in an interview: "The economic conditions have been very tough last year and…
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China aims for the death of the dollarUS Treasury Secretary Jack Liu said in an interview that China's leaders were lobbying for the opposite rate for the devaluation of the Chinese currency, which, in his opinion, serves as a reminder of the continuation of currency squabbles between the countries. Jack Liu says he wants China to…
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China may finance part of Mechel's coal project in RussiaChina has expressed a desire to help Mechel Group finance the costly Elga coal project in Russia. In addition, China wants to supply equipment in exchange for coal. The fact is that the grades of coal from the Elga deposit are scarce for metallurgy in terms of their composition and properties. The…
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Steel Technologies decided to acquire a competitorSteel Technologies LL, a leading manufacturer of steel products in North America, has announced its decision to acquire Stripco. The deal has received government approval and is expected to be completed in May. Stripco, formed in 1984, continues to expand its processes to include pickling…
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It's not time for the United States to provide real assistance to UkraineUS Vice President Joe Biden assured Ukrainian leaders that the US will provide assistance to ensure that "Russia can no longer use energy as a weapon." Biden announced mid- to long-term initiatives to support Ukraine's energy sector and announced $ 50 million in aid, an unspecified portion of which…
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