Metallurgy news
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Iron ore prices hit a five-year highFew commodities have experienced such spectacular price booms this year as iron ore. By early July, the price of this steelmaking raw material for the first time since 2014 exceeded $ 120 per tonne - the culmination of an explosive rally that began earlier this year and has remained almost unabated…
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Severstal launches Worldsteel's global greenhouse gas reduction programPJSC Severstal has begun an active phase of work under the Acceleration Program of the World Steel Association, which aims to reduce its impact on the environment and climate. This project will enable the Cherepovets Steel Mill to conduct a study using the Worldsteel system and identify…
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JSW Steel cuts US capital expenditures by 60% due to low capacity utilizationJSW Steel slashed its US capex plans by 60% to $ 400 million due to weak demand and a slowing economy. Seshagiri Rao, Managing Director of JSW Steel, told Business Line that “the company has already invested $ 250 million to restart production at Mingo Junction in Ohio in the first phase, and a…
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Moody's completes periodic review of MMKMoody's rating reflects the strong financial performance of Magnitogorsk Iron and Steel Works, but notes in its review that MMK is affected by the macroeconomic, regulatory and operating environment in Russia, as most of the company's metallurgical production is located in Russia .. Moody's…
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Interpipe enters the Bahrain oil and gas marketThe Ukrainian industrial company Interpipe has successfully passed the prequalification of Tatweer Petroleum and entered the list of approved suppliers of line pipes for the Bahrain market. Tatweer is developing and developing several fields using large volumes of pipes, including products for sour…
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Dneprospetsstal: results of August 2019In August 2019, PJSC DNEPROSPETSSTAL delivered 19,710 tons of steel, which is 5.1% higher than the level of the previous month. During the same period, the Company produced 13,678 tons of rolled products, which is 1.6% more than in July 2019. The total cost of commercial products manufactured in…
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ArcelorMittal threatens to close an iron ore mine in UkraineThe management of ArcelorMittal Kryvyi Rih said that if the Ukrainian government increases fees associated with the extraction of iron ore, the company will be forced to stop the mine. Other Ukrainian companies speak in a similar tone. Recently, the Ukrainian parliament has proposed tax changes…
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Fitch and S&P Upgrade Metinvest's RatingsThe international rating agency Fitch Ratings has raised the long-term issuer default ratings (IDRs) of the Metinvest mining and metallurgical group and the ratings of its Eurobonds to BB- from B +, with a stable outlook. "The increase follows an increase in Ukraine's country ceiling to 'B' from…
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British Steel Saint-Saulve plans to open a new billet production lineIt was reported that steelmaker British Steel Saint-Saulve has announced an investment of € 16 million to produce larger billets through August 2020. The company commissioned Danieli to create a production line. Cedric Orban, CEO of the company, said the new production line had passed all tests and…
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USA increased exports of HRC in JulyAccording to statistics from the United States Department of Commerce (USDOC), the United States exported about 39,000 tonnes of hot rolled steel in July, up 10.4% from the previous month but down 21.7% from the same month a year ago. Among the main destinations, the largest share is accounted for…
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