Metallurgy news

• Fitch Downgrades 2019 Global Steel Price Outlook Fitch Solutions Macro Research has revised its 2019 outlook for global steel prices downward as global prices continue to suffer from weak sentiment amid continuing U.S.-China trade tensions and growing risks to the global economy. Over the long term, Fitch Solutions is of the opinion that... 05.09.2019  10:19

• Tata Steel closes 2 divisions in Europe Tata Steel Europe has announced plans to close its subsidiary Orb Electrical Steels in Newport, South Wales, as well as the Wolverhampton Engineering Steels Service Center in the UK, resulting in a potential loss of 406 jobs. Tata Steel shares fell 4% on Tuesday. Orb Electrical Steels has... 05.09.2019  10:06

• Steel production in Europe declined The EU-28 countries recorded a slight decrease in crude steel production in July 2019 compared to the previous year. Since the beginning of the year, production has also seen a decline over the course of the month. According to recent production statistics published by the World Steel... 04.09.2019  13:32

• Metalloinvest improves energy efficiency at Ural Steel Metalloinvest has implemented a large-scale project to modernize the thermal power plant at Ural Steel. Andrey Varichev, CEO of the management company Metalloinvest, said that “The modernization of an independent generator using modern technologies is an important part of a comprehensive program f... 04.09.2019  13:27

• ArcelorMittal Kryvyi Rih accused of tax evasion in the amount of 9 billion hryvnia The office of large taxpayers completed the audit of ArcelorMittal Kryvyi Rih, which began on May 14, 2019, the head of the Office Yevgeny Bambizov said at a meeting with journalists in Kiev, and added that the amount of claims against the largest investor in Ukraine is 9 billion hryvnia. “As of ... 04.09.2019  13:12

• Metinvest recognized as the most successful Ukrainian brand Metinvest Group entered the top 20 most successful Ukrainian brands that have become known throughout Ukraine and are among the leaders in their industries. This is reported by RBC-Ukraine with reference to the corresponding rating, prepared taking into account information from various open... 04.09.2019  11:18

• Production results of MMC of Ukraine in August and for 8 months of 2019 In August 2019, metallurgical enterprises of Ukraine produced: cast iron 1,820 thousand tons (an increase of 10.5% compared to July 2019), steel 1940 thousand tons (an increase of 8.5%), rolled metal 1,570 thousand tons (an increase of 3.6%). For 8 months of 2019, it was produced: pig iron... 03.09.2019  12:03

• Rising raw material costs lower profits for Chinese steelmakers Chinese steel mills reported lower profits in the first seven months of this year due to higher raw material prices. Enterprises that are members of the China Iron and Steel Industry Association generated about $ 339 billion in sales revenue during this period, an increase of 9.75%, while... 03.09.2019  11:35

• Tata Steel Europe announces the results of the non-core sales process Tata Steel Europe announced the results of its non-core business unit sales process. Tata Steel has signed a Cogent Power Inc sale and purchase agreement with Japanese steel giant JFE Shoji Trade Corporation. CPI manufactures cores for electrical distribution transformers and employs about 300... 03.09.2019  11:01

• MOL targets Turkey's steel sector The largest Japanese ship owner Mitsui OSK Lines (MOL) is seeking to penetrate Turkey with bulk materials. MOL has signed an agreement with the Turkish steel mill Tosyali Holding, which aims to develop transport agreements for both raw materials and steel products, as well as to develop a joint... 02.09.2019  11:12