Metallurgy news

• Russian pig iron exports have grown despite a decrease in supplies to the United States in April According to government statistics, the export of pig iron from Russia increased significantly in April 2014. Despite the fact that exports to the United States fell within a month. The export of Russian pig iron ingots amounted to 140 thousand tons in April this year. This is 31.8 percent... 11.06.2014  10:52

• TMK to Build Coated Pipe Manufacturing Center in Kentucky TMK IPSCO, the American subsidiary of Russian TMK and one of the leading steel pipe producers, has announced that it will build a plant in northern Kentucky. The new plant will primarily serve the country's oil and natural gas distribution sector. The company reportedly plans to invest about $... 10.06.2014  13:16

• Exports of Russian steel scrap jumped 18 percent The latest Russian trade statistics show that scrap exports in the country increased sharply over the month of April this year. According to these data, in April Russia exported 434 thousand tons of scrap. Moreover, exports during the month were 20.3 percent higher compared to the previous month.... 10.06.2014  12:40

• UAE Emirates Steel secured $ 1.3 billion loan Abu Dhabi Emirates Steel announced that it secured $ 1.3 billion in new lines of credit from nineteen local and international banks without government guarantees. The funds will be used to refinance existing debt and invest in the creation of new steel assets. Hussein Al Novays, chairman of... 10.06.2014  12:22

• Chinese steelmakers ask government to stop illegal deals Local steelworkers from China are seeking help from the government to impose strict regulations on illegal steel trading practices in the country. Some steelmakers illegally exploit the loopholes in the Chinese tax structure. They took advantage of an export discount of 9-13 percent by declaring... 10.06.2014  11:58

• NSSC Raises Prices for Stainless CRCs for June Delivery Japan's largest stainless steel maker Nippon Steel & Sumikin (NSSC) has announced an increase in its domestic prices for cold rolled coils and austenitic-grade slabs at JPY 15,000 per tonne under June contracts, according to industry sources. (1 US dollar = 102.480016 JPY) The NSSC indicated... 09.06.2014  13:29

• Ukraine at the request of the IMF is going to sell coal mines and reduce subsidies The Cabinet of Ministers of Ukraine ordered the State Property Fund to prepare documents for 38 state coal mines, which will be sold at an auction. The move is one of the austerity measures put forward by the International Monetary Fund in exchange for loans. Most mines have received support in the... 09.06.2014  12:52

• Iron ore market stabilizes Iron ore futures contracts in China rallied in June as the market stabilized after the recent steep drop in prices that spurred interest from buyers. Oversupply, however, could limit further price recovery. Despite a 13 percent decline in iron ore prices in May, Chinese imports of raw materials... 09.06.2014  12:13

• The world needs 48 trillion. dollars of investment to meet energy demand Business Recorder reported that further development of the global economy will require 48 trillion. dollars of investment in the period up to 2035 in order to meet the growing demand for energy. Countries must invest $ 40 trillion, according to a report released by the Paris-based energy policy... 08.06.2014  13:32

• Former Minister Appointed Administrator of ILVA Former minister Mario Monti has been selected as commissioner for the ill-fated ILVA steel mill in southern Italy, which is at the center of the debate on health and the environment. Piero Gnudi, who headed the Ministry of Sports and Tourism from November 2011 to April 2013, said that Enrico... 08.06.2014  12:02