Metallurgy news

• Australia cuts forecast for iron ore price to $ 60 per ton The Australian government announced a further reduction of its official iron ore price forecast by another 5 percent in 2015. The target price is now $ 60 per tonne, which is mainly due to weakening demand from China amid increased production. Three months earlier, the Australian Department of... 18.03.2015  10:53

• Pakistan to impose import duty on HR products Pakistan is likely to impose a 15% regulatory duty on imported hot rolled products (HR) and pipes, according to reports. This proposal came from the country's Ministry of Industry and Manufacturing and is currently approved by the Federal Board of Revenue (FBR). In addition, a flat tax of 5,600 PKR... 18.03.2015  10:12

• Global zinc market in small surplus in early 2015 Statistics published by the International Lead and Zinc Research Group show that the global zinc market has a slight surplus in the first months of the year. The January surplus was 1,900 tons, slightly higher than the global 1,800 tons surplus recorded in December 2014. However, the group... 18.03.2015  09:47

• In the UAE, prices for steel and building materials fell due to cheap oil Suppliers of steel and building materials in the UAE are reporting plummeting prices due to low oil prices. Local Groups state that they have a large stock of steel products and building materials in warehouses that were purchased at a higher price even before oil prices fell. Abdullah Al Gurg,... 17.03.2015  11:44

• Metinvest restores power supply to Avdiivka Coke Plant Employees of the Metinvest Group of Avdeevka Coke Plant assisted employees of the DTEK energy holding in reconnecting the plant to the high-voltage bushings of Makeevka-Avdeevka Coke Plant 1 and Makeevka-Avdeevka Coke Plant 2. Avdiivka Coke Plant lost the ability to supply electricity back on... 17.03.2015  11:11

• MMK announced successful last year OJSC Magnitogorsk Iron and Steel Works believes that all production facilities and installations operating in 2014 have demonstrated their best results in recent years. In 2004, MMK expanded its coated steel production following the commissioning of a plant designed by Voest Alpine. The... 17.03.2015  10:21

• Vitkovice Steel may be relocated to Russia Jiří Cienciała, government commissioner for the regions of Moravia and Usti, said there was a possibility that the operations of Czech steel producer Vitkovice Steel would be relocated to Russia and that almost all employees would be fired. The social risks of the North Bohemian region will be di... 16.03.2015  12:38

• Chalco Invests $ 400 Million in Bauxite Mining in Guangxi Aluminum Corporation Chalco, the largest aluminum producer in China and the second largest in the world, is investing 2.6 billion yuan ($ 400 million) to explore a bauxite deposit at Chongzuo in one of China's bauxite-rich Guangxi region. The feasibility study of the project was completed in... 16.03.2015  11:14

• Turkey reduces pipe exports - CEBID The latest data released by the Turkish Steel Pipe Manufacturers Association (CEBID) shows that Turkey reduced its steel pipe exports during the first two months of 2015. Turkish pipe exports in January-February this year amounted to 285,900 tons, down 3.6 percent compared to exports in the same... 16.03.2015  10:07

• ArcelorMittal counts on the automotive sector ArcelorMittal, the world's largest company, delivered strong operating results last year despite weakening demand and low iron ore prices. The increase in shipments of steel products compared to the previous year was 2.2 percent. In addition, the way forward for ArcelorMittal looks pretty... 15.03.2015  22:53