Metallurgy news

• The fall of the Chinese currency puts pressure on gold At a press conference in Beijing, a Chinese central bank official said the country's currency was not expected to devalue further. The People's Bank of China (PBOC) believes that "the strong economic environment, robust trade surplus, strong financial position and deep foreign exchange reserves... 16.08.2015  12:44

• Evraz Highveld Steel to Cut 1100 Jobs in South Africa About 1,100 workers at Evraz Highveld Steel may lose their jobs as the company struggles to survive. Already issued 189 notifications. Evraz Highveld Steel CEO Johan Burger confirmed that up to 1,100 employees, or 50 percent of the firm's workforce, faced the possibility of job losses. He said... 16.08.2015  12:00

• Norilsk Nickel renews the technical base of the Kola MMC The Kola Mining and Metallurgical Company, a subsidiary of Norilsk Nickel, is purchasing new machinery and equipment for all production divisions. During the first half of 2015, Kola MMC purchased 78 units of new machinery and equipment for its production and supply chain for a total amount of RUB... 16.08.2015  11:16

• Russia may stop the transit of coal through the port of Riga Andris Ameriks, Deputy Mayor of Riga and Chief Executive Officer of the port, said with reference to unofficial information that "Russia may stop using the Freeport of Riga for coal transit." Ameriks said: "I hope this information will not be confirmed, but such information, as a rule, has a... 15.08.2015  11:19

• Aluminum drops to 6 year low Aluminum prices continued to decline, approaching a six-year low, driven by fears of the devaluation of the Chinese yuan. The export price of the metal has become cheaper this week, increasing the global surplus. On the London Metal Exchange, within three months, the price of aluminum fell by... 15.08.2015  11:05

• Ukraine has more than halved coal production in 7 months Ukrainian coal mining companies in the period from January to July 2015 reduced coal production, according to the latest data, by 50.8 percent compared to the same period in 2014. Coal output amounted to 22.807 million tons. The Ministry of Energy and Coal Industry said that the output of coking... 15.08.2015  10:34

• US steel exports fell 12.6 percent in 1H 2015 According to the American International Steel Institute (AIIS), US exports totaled 885,191 tons of steel in June this year, up 1.7 percent from the previous month, but down 15 percent year on year. The main reason for the drop in US steel exports is related to the decline in demand in Canada.... 14.08.2015  19:44

• Brazil plans to promote steel exports to Europe Brazil is slated to stimulate exports of steel products to the European market, as the United States has approved anti-dumping measures on imports of cold rolled steel sheets from Brazil. The United States no longer suits Brazil as a major export market, so steel mills will move to other overseas... 14.08.2015  19:11

• Tianjin bombings delay iron ore shipments to metallurgical plants A series of explosions in China's northern ports in Tianjin led to road closures in a major port region. This has caused delays in the supply of iron ore to some metallurgical plants. The explosions took place in a warehouse of containers with hazardous toxic substances. The explosions killed at... 14.08.2015  18:53

• China's steel production drops 4.6 percent in July - official data Chinese steel production in July decreased by 4.6 percent year-on-year to 65.84 million tons. This was announced today by the State Statistics Service of the PRC. Average daily steel production fell to the lowest level since November last year, having decreased compared to June by 7.6 percent to... 12.08.2015  20:04