Metallurgy news

• Iron ore prices rebounded slightly in response to threats of a strike at Port Hedland Iron ore prices have returned to reasonable levels after hitting a nearly two-year low earlier this week. This is due to a warning from the largest iron ore miner BHP Billiton. BHP Billiton said further reductions in the price of iron ore would lead to a strike by port workers. The action... 22.05.2014  12:13

• Metinvest begins reconstruction of a furnace at Azovstal Metinvest Group announced that it will invest about $ 1 billion in the reconstruction of blast furnace No. 4 at the Azovstal metallurgical plant, and from May 15, modernization and reconstruction of the furnace began. After the reconstruction, the blast furnace will meet the highest international... 22.05.2014  11:38

• NLMK Announces 1Q 2014 US GAAP Results NLMK, a leading steel producer, announces 1Q 2014 consolidated results in accordance with US GAAP. The Group's steelmaking capacity was operating at 92 percent. Steel sales reached 3.866 million tonnes (+ 8 percent qoq); revenue was $ 2,638 million (+5 percent qoq); net income was $ 174 million.... 22.05.2014  11:16

• Oligarchy won in Ukraine The announcement by Ukraine's richest man to hold demonstrations against separatists has met with mixed reactions from his own workers, many of whom have remained in their jobs. Despite the fact that steelworkers in Mariupol partly joined the anti-separatist actions, the miners refused to take part... 21.05.2014  11:36

• Outokumpu modernizes stainless plate production in Sweden Outokumpu, the world leader in stainless steel, celebrated the completion of a € 100 million investment to modernize its production facility, including a plate mill, in Degerfors, Sweden. The investment is designed to help improve economic performance throughout the entire manufacturing process and ... 21.05.2014  10:35

• Tenova and Danieli Teamed up with Nippon Steel to Create New Technology Tenova and Danieli have entered into an agreement with Nippon Steel to combine their Energiron DR technology with optimized blast furnace technology as well as high efficiency coal gasification and gas recovery technologies. Combined, the two key areas will provide technology integration in... 21.05.2014  09:35

• Putin in China on a state visit Russian President Vladimir Putin arrived in Shanghai ahead of the summit, which aims to deepen ties between Russia and China. The two countries will make "substantive" statements and sign important agreements, Xinhua reported. The countries are also planning to start joint military exercises... 20.05.2014  10:05

• Iron ore prices retreated to double digits In China, which is the largest consumer of steel, there is strong pressure on steel product prices amid huge overcapacity, pushing the price of iron ore below $ 100. The last time iron ore prices fell below $ 100 in September 2012, they stayed below that level for two weeks. Aside from this... 20.05.2014  09:39

• POSCO achieves capex cuts in 2014 POSCO, South Korea's leading steelmaker, has cut its investment this year by more than 10 percent from its original plan to improve the company's financial position. According to information provided by the steel company, it reduced capital expenditures in 2014 to 5.7 trillion. KRW with 6.5... 20.05.2014  09:02

• Norilsk Nickel will invest $ 9.5 billion in itself May 19, London. The world's largest producer of nickel and palladium, MMC Norilsk Nickel, plans to invest about US $ 9.5 billion in its own development over the next three years. This was announced by the first deputy general director of Norilsk Nickel Pavel Fedorov during a conference call on... 19.05.2014  16:23