Metallurgy news

• Alisher Usmanov sells 10 percent of shares of the holding company The richest Russian, Alisher Usmanov, sold a 10 percent stake to his holding company partners, fulfilling his promise to reward management. In addition, the sale of shares will provide a new inflow of capital for use in areas that Usmanov considers more promising in the future. Usmanov will... 13.08.2014  12:51

• High nickel prices have triggered a restart of frozen mines The huge rise in nickel prices prompted many companies to restart operations at their mines. In Australia, three companies Avebury Nickel, Poseidon Nickel and Panoramic Resource announced the reopening of their nickel mines, hoping to profit well from the rapid rise in nickel prices. In addition,... 13.08.2014  11:56

• Nippon Steel and Krakatau Steel to Build Automotive Sheet Plant The world's second largest steel producer, Nippon Steel & Sumitomo Metal Corp, announces that it has signed a definitive joint venture agreement with Indonesia's largest steel producer, Krakatau Steel, to produce and sell automotive flat products in Indonesia. The Krakatau Nippon Steel Sumikin... 13.08.2014  11:23

• China's steel exports hit a new record between January and July China's steel exports hit a record high in the first 7 months of this year, according to data released by China's General Administration of Customs. Exports jumped 37 percent over the corresponding period in 2013. A sharp drop in domestic demand and an increase in demand from the US and the... 13.08.2014  09:54

• Novelis, largest aluminum producer in the US, raises prices One of the leading manufacturers of rolled aluminum, Novelis Corporation, has announced an increase in prices for automotive sheets and aluminum products. The new prices will rise by 5 percent and will apply to all types of new orders. The company announced this on Monday. But still, for those... 12.08.2014  13:56

• Metinvest keeps afloat despite alarming situation in Ukraine Metinvest Group does not stop its work even in connection with the difficult situation in the east of Ukraine. The company supplies raw materials to its divisions and ships finished products to customers. Metinvest's logistics specialists, together with Ukrzyliznytsya, organized an operations... 12.08.2014  13:51

• Kobe Steel and Angang Steel to jointly produce steel for the automotive industry Kobe Steel Limited and Angang Steel have formed a joint venture company Kobelco Angang Auto Steel Company Limited in China, which, on August 1, began operations to manufacture and sell advanced high strength cold rolled steel sheet for automobile manufacturing. The two parent companies signed an... 12.08.2014  12:01

• Arcelor Mittal Increases Forecast for Global Steel Demand Growth The world's leading steel producer, Arcelor Mittal, has increased its forecasts for global consumption of Glo steel. The company expects global steel consumption to be 3-3.5 percent higher in 2014 as the US and EU regions show positive developments, said Lakshmi Mittal, the company's chairman and... 12.08.2014  10:35

• Limited influx of aluminum in Q3 2014 supports price increases - FastMarkets The quarterly analysis and forecast of the situation on the aluminum market, published by FastMarkets and Sucden Financial, indicate that during the third quarter of this year, the growth of prices for aluminum continues, which is mainly due to the limitation of metal supplies. According to the... 12.08.2014  09:55

• A new metallurgical plant will be built in the Irkutsk region The Vtorchermet company became one of the initiators of the construction of a plant in Eastern Siberia by investing its own funds. At the same time, it is envisaged to attract credit funds and financial support from the local budget. The regional government promoted the inclusion of the project in... 11.08.2014  15:09