Metallurgy news
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India faces iron ore shortageIndia is the fourth largest iron ore producing country in the world after Australia, Brazil and China with an annual production of 210 million tonnes. India has five main iron ore states. Among them, Odisha produces the most, contributing 52% of total production. The state produces mostly medium…
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POSCO Announces Second Quarter ResultsPosco posted operating income of $ 848 million in Q2 2019 on sales of $ 681 billion. Sales were up 1.5 percent, but operating income and net income were down 14.7 percent and 14.7 percent year on year, respectively. The decline was mainly due to the sluggish steel business, which accounts for about…
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ArcelorMittal Kryvyi Rih - update on searches by the Security Service of UkraineArcelorMittal Kryvyi Rih reported that as a result of a search in the investigation department of the Security Service of Ukraine in the Dnipropetrovsk region on July 20, a continuous casting machine No. 3 and some pieces of equipment were seized. On July 20, 18 employees of the Security Service of…
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EU Targets US Tariffs Against If Trump Tariffs CarsThe European Union has nearly doubled to € 35 billion ($ 39 billion) the amount of US goods it will strike with retaliatory tariffs if President Donald Trump embodies the threat of EU tariffs on cars and auto parts. European Trade Commissioner Cecilia Malmström reported an increase from an earlier…
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Guinea seeks developers for Simandu iron ore depositSimandou has over two billion tonnes of iron ore reserves and some of the highest grades in the industry (66% - 68% Fe, attracting premium prices). Guinea has announced an international tender for Blocks 1 and 2 in Simandu, providing companies with information on its bids by August 2, as the…
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Tata Steel Eyes Expands Steel Production SignificantlyTata Steel has announced plans to expand its crude steel production capacity in India. The private sector firm expects a significant increase in capacity to 30 million tonnes per annum (t /a) by 2025. It should be noted that the current production capacity of the company is about 20 million tons…
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SSAB Reports Third Quarter Price and Margin DecreaseSwedish steel mill SSAB remains uncertain about Q3 developments in the European and US markets. Demand is expected to be weak and domestic prices to remain under pressure. Overall, SSAB was down SEK 314 million (USD 33.4 million) in the second quarter year-on-year to SEK 1,316 million, mainly due…
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Dneprospetsstal: results of June 2019In June 2019, PJSC DNEPROSPETSSTAL delivered 16,457 tons of steel, which is 10.8% less than the level of the previous month. During the same period, the Company produced 12,641 tons of rolled metal, which is 7.6% less than in May 2019. The total cost of commercial products manufactured in June 2019…
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Steel demand in India will grow by 7% in 1919-20Tata Steel Chairman Mr. N. Chandrasekaran, speaking to shareholders at his AGM, said that steel demand in India will grow by 7 percent in 1919-20, leading to 103 million tons amid a huge number of infrastructure projects. which are announced by the government. Mr Chandrasekaran added that Tata…
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British Steel sales are delayed againThe Daily Mail said the sale of British Steel will be delayed further. An email sent on behalf of Sam Woodward of the restructuring team said, “I can confirm that we have not set a deadline for completing the sale process. You noticed that various parties were present at the site last week for due…
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