Metallurgy news
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Prices for metallurgical raw materials will remain stableSteel prices are likely to move in a narrow range during 2018-19 due to increased pressure from major producing countries. A recent study by India Ratings and Research predicts prices for steelmaking raw materials, including iron ore and coking coal, to remain constrained during the current fiscal…
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ArcelorMittal makes new attempts to buy Italy's largest factoryArcelorMittal said it has accepted new terms for the purchase of the Ilva steel mill. Steel giant ArcelorMittal said on Tuesday that it will agree to the conditions set by the Italian authorities for the purchase of the controversial steel company Ilva, which could lead to its acquisition of…
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Miners starve at a Russian gold mineNearly 60 workers at the Darasun mine in Transbaikal went on a hunger strike on Tuesday over non-payment of their wages. As a result, an administrative offense case was initiated against a company that was late in paying salaries. According to the Russian media, financial fraud often occurs in the…
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German steel companies criticize EU security measuresGerman flats and coiled steel converters questioned the rationale for new EU safety measures, saying they doubted that steel destined for the American market would be redirected to the European market. "Until now, this is just speculation, but this is not the case when growing volumes of steel from…
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Gazprom produces more and more gasIn the period from January to July 15 of this year, gas production by Gazprom reached 270.1 bcm. This is 8.5 percent more than in the same period last year. Gas exports have also increased. The Russian company's production in absolute terms is 21.2 bcm higher than last year. During the period under…
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Steel chain reactionFollowing complaints against the Chinese steel company Shanxi Taigan, a stainless steel manufacturer, Beijing began to analyze the import of stainless steel sheets in the local market. Local producers complain that foreign products are destroying local producers. Early estimates say this is about $…
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POSCO Increases Profit Target in 2018South Korean steelmaker POSCO said Monday that it expects sales to rise in 2018, boosted by high steel prices in China and strong global demand, which helped boost profits by nearly a third in the second quarter. The world's fifth-largest steelmaker raised its 2018 revenue forecast to 64.1 trillion…
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China is investigating imports of stainless steel from the EU and other countriesChina's Ministry of Commerce said on Monday that it has launched an anti-dumping investigation into the import of stainless steel billets and hot rolled stainless steel sheets sourced from Europe, Japan, South Korea and Indonesia. The move follows a complaint by Shanxi Taigang of stainless steel…
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US Steel plans to invest in a plant in KosiceUS Steel is satisfied with its Slovak plant and is considering new investments to improve the competitiveness of the Kosice steel plant, rather than selling the division. “US Steel is the largest employer in Kosice and one of the largest in Slovakia and is an absolutely stable partner in this…
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Kobe Steel Clashes With Tokyo Prosecutors On Fake Data AllegationsKobe Steel Ltd, the third largest steel company in Japan, has charged Tokyo prosecutors with alleged violations of the Unfair Competition Law in Japan, Kobe Steel said in a statement. The crux of the problem Kobe Steel, which supplies steel and aluminum parts to aircraft, train and car…
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