Metallurgy news

• Luxembourg strives to become a leader in asteroid mining The Luxembourg government has ambitious plans to profit from asteroid mining by signing a contract with two US space exploration companies that will eventually conduct missions to extract water and minerals in outer space. The tiny European country has been exploring the sector since 2013, and... 10.05.2016  09:54

• China with the World Bank to build a new Silk Road China Investment Bank AIIB will promote the World Bank's three major transport projects in Central Asia. The collaboration shows that Western financial institutions are beginning to accommodate China's new role - much to the chagrin of the US government. The Asian Infrastructure Investment Bank... 09.05.2016  11:03

• IMF expects resumption of economic growth in Russia IMF Head Christine Lagarde sees positive trends in the development of Russia and expresses concerns about the eurozone. Russia may soon come out of the recession and return to growth. However, this year, the economy is still expected to weaken, as the IMF said in its semi-annual report on Central,... 08.05.2016  13:01

• ArcelorMittal cuts losses ArcelorMittal sold more steel in the first quarter of this year than in the last quarter of last year, but earned less in monetary terms due to steadily falling prices. The net loss is less than the year before. In the first quarter, ArcelorMittal steel shipments totaled 21.5 million tonnes, up... 07.05.2016  13:33

• MMK returns to profit after selling Fortescue stake Magnitogorsk Iron and Steel Works confirmed that it sold part of its stake in Australian iron ore company Fortescue Metals Group Ltd., which helped the third largest steelmaker in Russia to profit and reduce debt. MMK sold shares of Fortescue in the first quarter for $ 68 million, it said in a... 07.05.2016  13:15

• Composites - a new player in the rebar market The first use of composite rebar was back in the 60s of the twentieth century. It is much lighter and more durable than steel rods, but also much more expensive, nevertheless, it is increasingly finding its place. The list of advantages of composite rebar is quite long. Let's start with the fact... 06.05.2016  13:43

• Russian bank issues bonds in yuan Sberbank of Russia will issue corporate bonds in yuan. Earlier, the bank announced further placements of Eurobonds. These steps will circumvent the sanctions. Landesbank Baden-Württemberg is ready to help Sberbank in placing Eurobonds. In February 2014, Sberbank issued subordinated Eurobonds ... 06.05.2016  13:19

• Ukrainian Ambassador to Nigeria pledges $ 1 billion investment to local authorities Ukrainian Ambassador to Nigeria Valeriy Alexandruk announced Ukraine's readiness to invest one billion US dollars in the completion of the Ajaokuta metallurgical plant. This was reported by the Nigerian media with reference to the Bureau of State Enterprises. Built at the end of the last... 06.05.2016  13:09

• EU and US support Southern Gas Corridor project The EU-US Energy Council continues to provide strong support for the opening of the Southern Gas Corridor, including the construction of the Trans-Adriatic Gas Pipeline (TAP). A statement following the US-EU Energy Council in Washington on Wednesday highlighted the importance of the... 05.05.2016  13:15

• China opposes EU steel import licenses Trade protectionism will not help solve the problem of overproduction, but only hinder trade, the Chinese Ministry of Commerce said in response to the European Union's four-year import licensing system for steel. The ministry notes that China has always opposed trade protectionism and maintained... 05.05.2016  12:54