Metallurgy news
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Danieli will supply two new wire mills to RussiaDuring 2020, two new high-performance, high-quality and high-efficiency H3 rolling mills will be installed and commissioned in Russia. AEMZ - Abinsky Electrometallurgical Plant LLC has ordered a new line of wire H3 with a capacity of 600,000 tons per year in Abinsk, Krasnodar Territory, for the…
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Australian steelmaker plans major US expansionAustralia's largest steel mill, Bluescope, has signaled it is willing to invest $ 1 billion to expand its North Star steel mill in Ohio. According to an online report, CEO Mark Vassella said the final decision would be made in the second half of 2019-20. Wassella said North America offers far more…
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US Solar Industry Seeks Steel Overseas Following TariffsThe Trump administration imposed a tariff on steel imports last year to force companies to buy more American metal. In a way, it made the US solar business companies do the exact opposite. Consider the case of PanelClaw Inc., a supplier of steel racks that mount solar panels in place. Since…
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Rio Tinto's Shareholder Returns Record 2018Rio Tinto (NYSE: RIO), a leading global mining player and one of the largest iron ore producers in the world, reported fiscal 2018 financial results on February 27, 2019, followed by an analyst conference call. The company exceeded market expectations in terms of revenue and earnings during the…
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Chinese steel rises in price amid strong demandIron ore futures in China rose nearly 4 percent on Friday, along with steel prices, as investors looked to strong demand for steel from manufacturers and construction projects. The official purchasing managers' index (PMI) fell to 49.2 in February from 49.5 in the previous month, official data…
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The results of production activities of the MMC of Ukraine for February and from the beginning of 2019In February 2019, metallurgical enterprises of Ukraine produced: 1.57 million tons of pig iron, which is 2.3% lower than in January 2019, 1.68 million tons of steel, which is almost 10% less, 1.49 million tons of rolled metal, which 7, 5% less than the previous month. In the first two months of…
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Vale's credit rating drops significantly after dam accidentThe ratings agency said Moody's Investors Service downgraded Brazilian iron ore producer Vale to Ba1 from Baa3 globally. In late January, S&P Global Ratings put Vale bonds on negative control, warning that it could downgrade the BBB rating by several notches, depending on fines and the loss of a…
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Vietnam Steel Exports Increase Sharply In January 2019Vietnam's steel exports kicked off in 2019 on a strong note, with a total of 771,056 tonnes of steel products shipped in January, up 73.9% year-on-year amid rising shipments to Cambodia, the latest customs data showed. Cambodia was the main food destination in January, reaching 160,775 tons, up…
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Export duty on scrap metal increased in UkraineThe Verkhovna Rada of Ukraine extended the increased export duty on scrap metal, and increased it from 42 euros to 58 euros per ton. On behalf of all metallurgists of Ukraine we would like to thank all the People's Deputies of the Verkhovna Rada, the head of the Verkhovna Rada Committee on…
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Steel prices rise ahead of the peak of the construction seasonIron ore futures in China were largely unchanged after hitting a three-week low in the previous session as the market expects demand for steel mills to pick up ahead of the peak of the spring construction season. The best-selling iron ore contract on the Dalian Mercantile Exchange for delivery in…
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