Metallurgy news

• How Historic OPEC Agreement Will Affect Oil Price OPEC's efforts are likely to balance the oil market by mid-2017, but production cuts fall short of the stated target of depleting oil reserves, which are weighing on prices. The oil market should rebalance "by the middle of next year," according to the Nigerian minister. However, calculations... 10.12.2016  13:00

• Thyssenkrupp to build China's largest steering plant ThyssenKrupp intends to invest at least 200 million euros in a plant for the production of electrical control systems in China. It will be a modern and highly automated plant with an area of ​​150 thousand. sq. m. The plant is expected to employ 800 people. And this is only the first phase of Thy... 10.12.2016  12:39

• Scrap steel wins prestigious LME award Scrap steel contracts on the London Metal Exchange won the prestigious industry award one year after their launch. Scrap Steel won the Futures and Options World (FOW) nomination as the most innovative new contract in the commodity and energy industries, reflecting a successful year with over... 09.12.2016  10:54

• India raises customs duties on stainless steel In response to demands from Indian stainless steel producers, the Ministry of Steel has proposed an increase in the core product customs duty from 7.5% currently to at least 10%. The move aims to protect domestic firms from rising imports from China, Japan and South Korea at "extortionate... 09.12.2016  10:37

• Avdiivka Coke Plant is fighting for survival On the night of December 7, the Avdiivka Coke Plant of Metinvest Group lost its power supply. Both inputs supplying the enterprise were disconnected. For more than a day, AKHZ specialists have been fighting to maintain production capacities. As of 13-30 December 8, the plant suspended coke... 08.12.2016  14:52

• What does Trump's victory mean for American steelmakers? One of the points of Trump's strategy to revive the metallurgy is to cut corporate taxes. While this will not directly help major steel producers such as US Steel and AK Steel, which have not paid income tax at the expense of losses, it will help stimulate economic growth and may indirectly have... 08.12.2016  11:17

• Largest iron ore mine needs additional manpower Iron ore prices climbed back to $ 80 /t as optimism emerged about demand from the main consumer, China. Steel prices are up 83% this year, according to the Steel Index, and have doubled from decade lows in December 2015. Launched in 2014, the largest mining project, Roy Hill, by Hancock... 08.12.2016  10:56

• JSW Steel's steel production jumped 45% in November JSW Steel's crude steel production rose 45% in November. Flat product output climbed 71 percent. However, long products production recorded a 2 percent decline in November 2016. | JSW Steel is part of the diversified JSW Group, which is one of the leading conglomerates in India with a presence... 08.12.2016  10:15

• MEPS expects continued growth in steel prices According to MEPS research, international flat steel sales have been on an upward trend throughout 2016. Significant price fluctuations are expected when negotiations between factories and customers take place in December. In addition, strong growth is likely to be on the spot for coking coal in... 07.12.2016  12:52

• Iron ore and steel contract prices rise in China Chinese futures rallied on the back of upbeat economic data and restocking traders in anticipation of strong demand for steel next year. This pushed up the prices of iron ore and other raw materials. Growth in China's services sector rose to a 16-month high in November. Against the backdrop of... 06.12.2016  12:01