Metallurgy news

• China's steelmakers cut product prices Major Chinese manufacturers, including Shagang, have announced rebar and wire price cuts of 100 yuan ($ 16) per tonne starting in October following recent declines in raw material prices. The sharp drop in Chinese domestic steel prices as well as iron ore prices continued throughout September,... 01.10.2014  12:04

• SUMITOMO CORP Shares Drop To 18-Year Low On Shale Gas Project Losses Sumitomo Corp, a Japan trading house associated with the steel products, engineering, energy and minerals business, cut its annual profit forecast by 96 percent on losses on a US shale gas project and plummeting iron ore and coal prices. Japanese trading houses have invested heavily in North... 01.10.2014  11:07

• Mexican government considers anti-dumping tax on steel imports At the request of domestic hot rolled steel coil producers, the Mexican ministry has announced an open investigation into the import of hot rolled strip from China, France and Germany. According to the Cancero Steel Association, the Ministry was approached by the companies Ternium and Altos... 01.10.2014  10:31

• NLMK improves efficiency of blast furnace operations NLMK Group, Russia's largest manufacturer of high value-added steel products, has improved the energy efficiency of blowing equipment used in blast furnace processes in Lipetsk. This upgrade will enable NLMK to reduce its environmental impact and save approximately RUB 210 million per year by... 30.09.2014  10:42

• POSCO has developed a super corrosion-resistant stainless steel The new stainless steel product can be used as special pipes for reactors, through which seawater and hot steam, which is generated during the cooling of a nuclear reactor, pass. This steam will then be used to rotate the turbine to generate electricity. POSCO stated that the stainless steel was... 30.09.2014  09:48

• Steel contracts hit record low in China Signs of weakness in the world's second largest economy emerged when it was reported that the country's industrial profits had dropped 0.6 percent since July. Experts believe that if officials in Beijing do not take the necessary measures on this issue, it could lead to more depressing upcoming... 30.09.2014  09:06

• Steel production in Europe increased slightly in August 2014 The World Steel Association reports that steel production in the EU-28 countries increased slightly during the month of August 2014. The year-on-year growth for the period was 0.4 percent. The largest steel output in August was achieved by Germany. Germany produced 3.133 million tonnes of steel... 29.09.2014  12:26

• Indian government eases export taxes for KIOCL The Kudremukh Iron Ore Company Ltd has been granted special permits by the government to export iron ore pellets directly. The permits apply both to the company itself and to any organizations authorized by it for this purpose, which will allow direct export of iron ore pellets and should revive... 29.09.2014  11:27

• CIS steel production fell sharply in August 2014 According to the latest data released by the World Steel Association, steel production in the Commonwealth of Independent States (CIS) decreased by 6.5 percent during the month of August compared to last year, due to a decrease in output in Ukraine. Total crude steel production in Belarus rose... 29.09.2014  10:28

• Vale Expands Production in China Hope The unsurpassed leader among buyers of iron ore - China will be able to purchase all the surplus of this raw material that has formed on the sales market. Despite a significant slowdown in economic growth, the demand for ferrous metallurgy products in Asia has not changed. Claudio Alves, head of... 28.09.2014  16:11