Metallurgy news

• Wuhan Steel will spend $ 5 billion to build a steel plant in Indonesia The Metals Corporation of China plans to invest up to $ 5 billion this year to build an integrated plant in Indonesia. The firm has carried out a feasibility study for the project and is currently evaluating a site for installation prior to the plant. MC Hidayat, China's Industry Minister, said... 21.03.2014  09:41

• Chinese steel corporation will not have to pay countervailing duty in the US The US Department of Commerce (DOC) ruling favored China Steel Group, the largest steel producer in Taiwan, with regard to electrical steel imports. In a statement released by DOC, the government assigned a marginal subsidy rate of less than 1 percent to the China Steel group and its subsidiaries.... 20.03.2014  11:57

• ThyssenKrupp launches service center in North America ThyssenKrupp Materials strengthens the trading business in a strategically important region of America by expanding supply chain efficiency. The new service center is located in Woodstock, Alabama, and will feature a facility of just under 1,000,000 square meters where primarily quality steels... 20.03.2014  11:11

• MMK is considering selling its stake in the mining company Fortescue Magnitogorsk Iron and Steel Works may sell its shares in the largest Australian iron ore producer. This was announced today by the main shareholder of MMK, Viktor Rashnikov. According to him, MMK is considering selling a 5.37 percent stake in the Australian Fortescue Metal Group (FMG) by the end... 20.03.2014  11:03

• China Metals Prepared For The Worst Quarter The Chinese steel industry is likely to see its worst period in the 1st quarter of 2014, warned Liu Zhenjiang, deputy director of the China Iron and Steel Industry Association (CISA). CISA is tracking a loss of one billion yuan in January alone. Moreover, 43 capacities are operating in the red,... 20.03.2014  10:31

• SMS Meer expands presence in Shanghai German engineering group SMS Meer, a supplier of technology and equipment for the steel industry, is expanding its Shanghai plant to tackle the growing demand of Chinese customers who are on a path of renewal. The creator of machines for forging and rolling section mills is confident in the... 20.03.2014  10:09

• Russia will not demand early redemption of $ 3 billion of Ukrainian Eurobonds Russia will soon be able to demand early repayment of two-year Eurobonds worth 3 billion. Deputy Minister of Finance of the Russian Federation Sergey Strochak told reporters about it. The prospectus provides for automatic repayment in the event that the state debt to GDP grows to more than 60... 19.03.2014  15:50

• Mariupol Metallurgical Plant named after Ilyich will hold an annual meeting of shareholders on April 4 On April 4, at 12 o'clock local time, the annual meeting of shareholders of PJSC "Ilyich Iron and Steel Works" will take place in Mariupol. Registration of the meeting participants will start at... 19.03.2014  15:32

• Tokyo Steel maintains product prices in April Tokyo Steel Manufacturing Co will maintain current product prices for April delivery as customer inventories rise after the winter frost, but there is a shortage of labor to cover construction projects, Japan's largest electric furnace owner said. However, the firm, which recycles scrap steel... 19.03.2014  12:19

• US shale boom should help JSW return positive revenues India's largest private-sector steelmaker, JSW Steel, sees prospects for its US plate and pipe plant amid the US shale boom. Next year, the United States is expected to be able to independently meet its gas and oil needs as it kicks off its mega shale gas and shale oil projects across the... 19.03.2014  09:27