Metallurgy news

• China cuts lending rates amid weak demand and deflation China's central bank cut interest rates for the second time in less than four months, a new sign that the country's leadership is acting more aggressively in an attempt to curb economic growth. The Chinese government is expected to present its 2015 growth forecast of about 7 percent, up from 7.5... 03.03.2015  12:15

• Final data on Russian exports of ferrochrome alloys for 2014 According to statistics, exports of low-carbon ferrochrome alloys increased by 10.5 percent over the previous year and totaled 216,849 tonnes in 2014. Russian exports of these products totaled 196,216 tons in 2013. Exports to Japan, Holland and China increased significantly over the year, while... 03.03.2015  11:08

• Prospects for recycling electronic scrap in Europe The European Electronics Recycling Firms Association (EERA) says the electronic scrap recycling sector in the region is currently facing challenges. EERA General Secretary Norbert Zonneveld noted that many of the member firms are struggling to survive in the current market situation. He noted that... 03.03.2015  10:08

• Steel exports from Ukraine and Russia cause concern in the global market The increase in steel exports from Russia and Ukraine has led to an oversupply in the international market, which has long struggled with the abundance of Chinese exports. Producers in Asia and Europe are facing challenges due to increased imports of cheap steel from Ukraine and Russia along with... 02.03.2015  16:15

• Turkish company Icdas will add a blast furnace A leading Turkish manufacturer of rebar and rods plans to build a 2,800 cubic meter blast furnace at Canakkale in the western part of the country. The estimated cost of the project is $ 600-700 million. The company's investment manager Ulvi Gunduz said that “the company is currently receiving o... 02.03.2015  09:42

• India raises duties on steel imports from China and Russia from April 1 The Indian government is raising the duty on imported steel by 5 percent from April 1 this year to stem the flow of cheap supplies from China and Russia. “The Indian government is raising the tariff from 10 percent to 15 percent,” Finance Minister Arun Jaitli said in his next fiscal year budget r... 02.03.2015  09:15

• POSCO closes construction engineering division in India POSCO plans to close its engineering and construction division in India after the company failed to win orders. The management of the block, located near New Delhi, engaged in the development of metallurgical plants, plans to switch to civil construction, where there are orders for the construction... 01.03.2015  11:29

• Copper deficit on the rise - ICSG The International Copper Research Group (ICSG) released data for the past year. According to ICSG, the balance in the copper market for the first time in November 2014 showed a clear production deficit of almost 40,000 tons. World production of refined products increased by almost 8 percent... 01.03.2015  10:45

• Rio Tinto is about to lay off hundreds of workers In an attempt to establish its position as a cost-effective exporter of iron ore to China, mining giant Rio Tinto plans to cut several hundred jobs in Western Australia. Information was sent to employees, highlighting the urgency of expediting the cost-cutting measures. In addition, Rio Tinto... 28.02.2015  16:29

• Global aluminum demand to grow 6.5 percent in 2015 - Rusal The largest aluminum producer Rusal believes that the global aluminum industry will grow within a year. He also expects production growth outside of China to remain subdued. In addition, Asian aluminum prices are likely to remain under pressure due to increased exports of semi-finished products... 28.02.2015  16:10