Metallurgy news
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National Assembly of People's Deputies openedThe annual session of the Chinese Parliament is being held in Beijing, at which MPs discuss their vision of the development of the Chinese economy and metallurgy, in particular, for the next year. The Great Hall of the People's Assembly in Beijing gathered thousands of delegates for the nine-day…
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Global stainless steel consumption grew 4.5 percent last yearAccording to the Bureau of International Recycling (BIR) global stainless steels and special alloys market research survey, global stainless steel consumption in 2013 increased by 4.5 percent compared to 2012. At the same time, a similar increase in demand for stainless steel is expected this year…
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Taiwanese steel giant CSC plans to increase production in the second quarterChina Steel Corporation (CSC) predicts its second-quarter production will grow about 2.5 percent from the previous quarter, driven by higher orders. Analysts believe the increase in orders is being driven by China Steel's decision to raise its domestic wholesale prices for future contracts. At the…
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Voestalpine built a new plant in South AfricaVoestalpine, an international steel company based in Linz, Austria, continues its internationalization strategy and opens a new pressure metals plant in East London, South Africa. The factory producing high quality automotive components is an important step in a comprehensive globalization strategy…
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For two months of 2014, Zaporizhstal increased the production of rolled metal by 5 percentIn January - February 2014, the Zaporizhstal metallurgical plant of Rinat Akhmetov's Metinvest Group increased its production of pig iron by 0.3%, steel - by 0.2%, rolled products - by 4.9% compared to the same period in 2013. Production indicators of Zaporizhstal Iron and Steel Works for January -…
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Downturn in iron ore consumption will hurt BHP Billiton and Rio Tinto's bottom lineFalling iron ore prices prompted Australian miners BHP Billiton and Rio Tinto to lower their expected earnings this year. Investment bank Goldman Sachs has joined in pushing the price of Australia's most lucrative iron ore export to $ 80 /t over the next 2 years. Rio's forecast for a 9 percent…
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Gazprom: Ukraine may lose gas discountRussia has warned Ukraine that it could lose its gas price discount due to Kiev's outstanding gas debt. The Russian state gas company Gazprom estimates Ukraine's debt at $ 1,550 million for gas supplies in 2013 and still this year. Sergei Kupriyanov, a spokesman for Gazprom, said: “It seems that in…
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Egyptian steelmakers cut rebar prices in MarchEgyptian steel companies reported lower prices for steel rebar in March. Including Beshay Steel cut its rebar prices by 110 Egyptian pounds to 4,850 pounds per tonne, and Suez Steel adjusted its prices by 130 Egyptian pounds to 4,800 pounds per tonne in March. Ezz Steel followed suit by also…
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Global steel consumption to grow by 4 percent in 2014 - Lakshmi MittalThe largest steel producer ArcelorMittal predicts steel consumption growth in 2014 by 3.5 - 4 percent and worldwide steel production growth by 3 percent. Steel demand in the US and China will rise 4.5 percent, while demand in the EU will rise 2.5 percent over the previous year. ArcelorMittal CEO…
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Steel production in Ukraine decreased by 10 percentIn the first 2 months of 2014, steel production in Ukraine decreased compared to the APPG-2013 to 4 million 890 thousand tons. This is reported by the Metallurgprom Association of Enterprises. In January - February 2014, the production of ferrous metal products decreased compared to the same period…
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