Metallurgy news

• South Korea encourages metallurgical and petrochemical firms to cut production The South Korean government has said it will encourage local steel and petrochemical producers to reduce oversupply and upgrade their facilities to achieve high added value. In addition to downsizing, steel and petrochemical companies will focus on mergers and acquisitions for non-competitive... 03.10.2016  10:42

• Japanese Steel Exports Rise In August The Japanese Iron and Steel Association reported that Japan's steel exports totaled 3.509 million tonnes in August, an increase of 2.3% year over year. At the same time, Japan's raw steel exports reached 2.221 million tonnes, an increase of 7.4% year-on-year, and rose for the first time in three... 03.10.2016  10:16

• Russia in September produced a record amount of oil per day The Russian Energy Ministry announced on Saturday that a record 11.1 million barrels per day were pumped in September, the highest since the collapse of the Soviet Union and 4% above the previous output of 10.7 million barrels per day. Russia, as well as OPEC members, are grappling with a... 03.10.2016  09:48

• Baosteel's New Furnace Reaches Installed Capacity China has pledged to phase out its metallurgical capacity, but Chinese companies are still launching new furnaces. One of them is at the Zhanjiang factory of the Baosteel company. The construction of the plant began in 2011, after the approval of Baosteel and the city authorities - Zhanjiang... 02.10.2016  14:57

• German coal-fired power plants may close ahead of schedule Germany is ready to accelerate the closure of coal-fired power plants, as their profitability decreases, although they have not exhausted their resources. A quarter of coal-generating capacity in Europe's largest economy could close ahead of schedule if operators forgo modernization costs to... 02.10.2016  14:46

• US Stainless Steelmakers Demand Reinstate AD Duties For Indian Competitors US stainless steelmakers have demanded that two Indian stainless steelmakers, previously removed from their existing anti-dumping duty list, be reinstated with immediate effect as they resume their dumping into the US market. Carpenter Technology Corporation, a group of seven American stainless... 01.10.2016  11:38

• Lukoil has developed a plan to invest in Iran's oil and gas industry Lukoil is going to start implementing investment activities in Iran next year in order to get real products in at least 2-3 years. Lukoil plans to sign an agreement in the fall of 2017 on the Iranian fields Ab-Timur and El Mansuria. In addition, Iran is discussing with Lukoil the company's... 01.10.2016  11:23

• Global steel demand expected to recover According to the Organization for Economic Cooperation and Development (OECD), market conditions in the steel industry have improved slightly since the beginning of this year. Between 2015 and 2017, a gradual recovery in overall global steel demand is expected. At the same time, there is an... 01.10.2016  10:59

• Rusal predicts the dynamics of prices for aluminum During the Russian investment summit, Rusal stated that the price of aluminum will be stable next year, namely between $ 1,600 and $ 1,700 per tonne. The forecast is based on China's continued productivity control policy and global aluminum inventories have declined. Aluminum suppliers,... 30.09.2016  18:49

• Scrap metal exports from Ukraine fell in the first eight months of 2016 According to statistics from Ukraine, in January-August 2016, the country exported 233,378 tons of steel scrap, down 76.5% year on year. Exports generated US $ 40.99 million. At the same time, Ukraine did not export scrap metal in July and August, but exports in June amounted to 26,780 tons of... 30.09.2016  15:05