Metallurgy news

• POSCO plans to close 10 non-core branches At the first meeting of the POSCO Board of Directors after the inauguration, Chairman Kwon Oh Zhong decided to close some of the underperforming subsidiaries within the next three years. Of the 46 existing subsidiaries, more than 10 are losing money in non-core areas and are subject to scrapping... 18.05.2014  11:32

• EMZ repaired oxygen converter Yenakiyevo Metallurgical Plant of Metinvest Group carried out a major overhaul of its 160-ton oxygen converter with a partial reconstruction of the gas outlet. The overhaul has improved the efficiency and reliability of the equipment while reducing the environmental impact at the same time. A... 17.05.2014  13:59

• Russia held talks with Voestalpine on the supply of steel for the gas pipeline Austrian steel and technology group Voestalpine says it is in talks with Moscow to supply steel for the previously planned South Stream gas pipeline. The talks were successful despite escalating tensions between Russia and the West over Russia's annexation of the Crimean peninsula earlier this... 17.05.2014  13:31

• Shanghai Steel Rebar Futures Hit Record Low Chinese steel futures hit an all-time low and iron ore contracts fell 3 percent, while fragile global demand for finished goods swayed amid slow economic growth. Rebar for October delivery on the Shanghai Futures Exchange fell to $ 490 per tonne, the lowest level of most active contracts since... 17.05.2014  12:32

• NLMK supplies steel for the production of Samsung household appliances in Kaluga NLMK Group, one of the leading manufacturers of steel and rolled products with high added value in Russia, has started supplying pre-painted steel for the production of household appliances by the Korean conglomerate Samsung at its plant in the Kaluga Region. NLMK produces a new premium product... 16.05.2014  11:51

• ArcelorMittal opposes Western sanctions against Russia ArcelorMittal's vice president for Europe said he suggested that the European Union not step up sanctions against Russia over its conflict with neighboring Ukraine. The head of ArcelorMittal Europe said: "Our company is against economic sanctions. We have examples where sanctions are pushing... 16.05.2014  11:31

• Vice President of ArcelorMittal becomes the new President of EUROFER Robrecht Heimr, Executive Vice President Europe, ArcelorMittal, addressed hundreds of delegates at European Steel Day as the new president of EUROFER, the European Steel Association. He identified three goals for his presidency in securing the future for the steel industry in Europe: market demand... 16.05.2014  11:02

• Mechel refinances $ 1.2 billion loan The metallurgical company Mechel of Igor Zyuzin refinanced 40 billion rubles (about 1.2 billion dollars) with a loan from VTB. The final maturity date is April 2018. The credit line also provides for an additional 3.8 billion rubles to refinance another debt to VTB, which will not lead to an... 16.05.2014  09:39

• During the construction of South Stream in Hungary, its continuation in Austria is taken into account In Budapest, Alexey Miller, Chairman of the Gazprom Management Committee, met with Hungarian Prime Minister Viktor Orban. During the working meeting, the parties discussed the current work on the construction of the South Stream gas pipeline. Currently, the construction of the gas pipeline is... 15.05.2014  17:08

• Riot at the Taiwan Iron and Steel Works in Vietnam Anti-Chinese protests in Vietnam escalated into an attack on workers at a local Taiwanese steel mill in the central province. As a result, one person was killed and 128 people were injured. The riots were preceded by peaceful demonstrations in Ho Chi Minh City and Hanoi against the installation of... 15.05.2014  12:02