Metallurgy news

• Rosneft will increase oil supplies to China Rosneft signed an annex to a long-term oil supply contract with the Chinese corporation CNPC, extending the contract until the end of 2023. According to the contract, which entered into force on June 21, 2013, Rosneft has already supplied 21 million tons of raw materials to China. CNPC is... 12.01.2017  10:25

• SSAB in trouble A rolling mill was shut down at SSAB Spetsstal in Oxelösund during scheduled maintenance in early December last year. ABB has replaced the rolling mill power management system. However, during the scheduled restart, the transformer broke down, as previously reported. After the repair, during the ... 12.01.2017  09:38

• Australia predicts falling iron ore prices Australia is the world's largest exporter of iron ore and the Australian government's official forecasts for the next two years are that the price of iron ore will fall. The iron ore price is forecast to fall to US $ 46.7 /t in 2018 due to weaker demand from China. The senior analyst noted that... 11.01.2017  13:15

• USA increases steel output in the first week of the year For the week ended January 7, in the United States, crude steel production amounted to 1.684 million tons, capacity utilization - 71%. Currently, the United States' average weekly steel production is about 1,592,000 tonnes, with a capacity utilization rate of 67.1% After adjusting, weekly US... 11.01.2017  13:07

• World Bank envisions global economic recovery The World Bank expects the global economic recovery to expand 2.7 percent in 2017, after a weaker level of 2.3 percent last year. World Bank experts believe that the growth of economic production in industrialized countries will be 1.8 percent. Emerging and developing economies will climb 4.2... 11.01.2017  12:56

• Russia cuts oil production During the first decade of January, Russian oil companies reduced oil production by 100,000 barrels per day. This is the third part of what is expected in connection with the agreement with OPEC. OPEC countries on November 30 agreed to cut production by 1.2 million barrels per day - to 32.5... 11.01.2017  09:47

• China announces further cuts in steel and coal production Xu Shaoshi, chairman of the National Development and Reform Committee, said China will continue its program to cut steel and coal production. However, this does not apply to the reduction in aluminum production. He clarified that in 2016 his country reduced steel production by 45 million tons and... 10.01.2017  14:19

• What can we expect in the stainless steel market in 2017? The positive trends observed since the second half of 2016 are well manifested this year as well. The stainless steel market situation in 2017 will improve. The price of stainless steel products has clearly increased over the past few weeks, in line with the worldwide trend. There are several... 10.01.2017  14:07

• Gold goes up and waits for Trump The first week of the new year was a period of growth for gold. Investors are wondering what Donald Trump's presidency will bring. Ole Hansen, Head of Commodity Strategies at Saxo Bank, explains: "At the beginning of the year, we are seeing buying pick up again and there are several factors that... 10.01.2017  11:51

• Best Metals and Commodities of 2016 Iron ore and zinc were the top performing commodities of the past year. Iron ore ended the year with 81% growth, the first calendar win in four years. At the same time, zinc jumped 65.7% YoY as major zinc mines were closed and supplies and supplies of this raw material declined. Here's how base... 09.01.2017  11:19