Metallurgy news

• Rio Tinto Announces More Savings Across All Sites Andrew Harding, head of the management team at Rio Tinto, recently announced that a series of cost-cutting measures will be implemented across all upstream and related activities in order to maintain their business edge in the market. The program provides for several such actions at all... 11.02.2015  08:57

• Exports of rare earth metals from China reached 28,000 tons in 2014 China exported 28,000 tonnes of rare earth metals in 2014, up 27.3 percent year on year, but export prices fell. The average export price for rare earth products was 83,000 yuan ($ 13,491) per ton, down 47.8 percent from 2013. China is responsible for more than 90 percent of the world's rare... 10.02.2015  12:17

• Vallourec Star Announces Shutdown of Ohio Steel Mill The Vallourec steel mill in Youngstown, Ohio will be dormant in February. According to the company, the decision to idle for three weeks was prompted by a difficult situation in the oil and gas markets. Vallourec is a world leader in pipe manufacturing, primarily serving the energy markets.... 10.02.2015  11:29

• Zinc expects a shortage and a rise in prices - Nyrstar Nyrstar NV, the world's largest zinc producer, expects the metal's price to rise after after the 500,000 tonne Century mine in Australia will close later this year. “We are entering a period in which the concentrate and metals markets are projected to be in short supply,” said Eigner, chief exe... 10.02.2015  10:20

• Copper scrap prices continued to rise Copper scrap prices saw a sharp rise in February, as evidenced by data from the China Metal Exchange, the largest producer of copper and copper alloy products. Copper wires and pipes saw significant price increases, increasing CNY 100 per tonne. Insulated copper wire has risen in price by 50... 09.02.2015  16:01

• Ukraine has reduced the output of metal in January 2015 In January, Ukrainian metallurgical companies produced 1.87 million tonnes of carbon steel, down 25.2 percent year on year. Pig iron production fell by 26.4 percent to 1.72 million tons, while rolled metal production fell 25.1 percent to 1.71 million tons on an annualized basis. At the same... 09.02.2015  15:49

• Steel exports from China in January again exceeded 10 million tons Steel exports from the country rose to a record high, with iron ore imports falling nearly 10 percent month-on-month and year-on-year, according to data released by China's customs office. Effective January 1, 2015, due to the new boron-added steel export regulations, many analysts predicted a... 09.02.2015  09:26

• PSM needs to pay off huge wage and utility debt The Pakistani Steel Plant (PSM) plans to ask the federal government for a bailout to pay PKR 13 billion in overdue wages to its workers as financing for the country's largest steel production becomes more volatile and difficult. The Ministry of Industry is preparing a summary to invite the... 08.02.2015  14:26

• Interpipe stops all pipe deliveries to Russia in 2015 Interpipe, one of the largest producers of steel pipes in Ukraine, will not supply any products to Russia in 2015 due to the slump in the Russian ruble and prohibitive import duties. As a result of the conflict in eastern Ukraine, relations between Moscow and Kiev deteriorated, and Russian steel... 08.02.2015  13:07

• EU steel consumption above expectations in 2014 - Eurofer During 2014, steel consumption in Europe exceeded expectations previously presented by the European Metallurgy Association (Eurofer), according to the organization's latest steel market report. At the same time, the sale of rolled metal products in Moscow and the European part of Russia is noted... 08.02.2015  12:09