Metallurgy news

• Scrap metal price in the US remains stable for the third week in a row In the United States, average scrap prices remained at $ 210.83 per tonne as of August 31, 2015, flat from the previous week. For the third consecutive week in the United States, average steel scrap prices have remained stable. At the same time, steel production is falling. The average price of... 03.09.2015  11:30

• Norilsk Nickel Raises Nickel Deficit Forecast for 2016 Norilsk Nickel, one of the world's largest nickel producers, raised its 2016 nickel deficit forecast by an additional 5,000 tonnes, due to a reduction in production capacity at large producers and a drop in nickel prices. The Russian company also predicts a sharp drop in the output of Chinese... 03.09.2015  10:43

• MEPS predicts a slow recovery in stainless steel prices The trend in the global stainless steel market has been relentlessly negative over the past twelve months. Only a few minor monthly increases, reflecting fluctuations in the LME (London Metal Exchange) nickel price, increased the value of trades on a downward trajectory. The average price of 304... 02.09.2015  12:43

• Russia is the largest exporter of nickel to China Chinese customs authorities released nickel import statistics for July and seven months of this year. According to the data, the total volume of imports of unprocessed nickel amounted to 46362.0 tons during the month. Russia became the largest exporter of unprocessed nickel to the... 02.09.2015  10:37

• "Krasny Oktyabr" raises the salaries of its employees Despite the difficult situation in the global steel market and in the face of reduced demand in the domestic market, the Krasny Oktyabr metallurgical plant consistently fulfills the entire range of social obligations to its employees. In addition, the Volgograd Metallurgical Plant increased the... 02.09.2015  09:40

• Taiwanese companies move production to Indonesia Taiwanese steelmaker China Steel is planning to set up a steel plant in Sulawesi, as part of its efforts to relocate some of its less profitable businesses out of the country to benefit from cheap overseas labor. The company has signed an agreement with local steelmaker Artha Metal Energy to... 01.09.2015  14:07

• ArcelorMittal closes factories in South Africa Steelmaker ArcelorMittal plans to close two plants and is considering operations at its largest plant in South Africa as the unprofitable divisions of the world's largest steel company cannot keep up with weak demand and low prices. ArcelorMittal said in a statement that trading conditions... 01.09.2015  11:44

• The West notes the desire of Russian aviation to reach a new level In response to sanctions from the European Union, the Russian Aviation and Space Salon MAKS was particularly impressive this year, according to Western media outlets. In addition to its missile business with Iran, Russia hopes to strengthen its military-trade partnership with China to offset the... 01.09.2015  10:39

• ENI discovers huge natural gas field off the coast of Egypt Italian energy group ENI announces the discovery of the largest known natural gas field in the Mediterranean Sea to date. Egypt can thus become an exporter of energy. Zohr's vast natural gas field could meet the country's energy needs for decades to come, the Italian company said. Combined with... 31.08.2015  13:34

• EU cuts anti-dumping duties on stainless steel imports from Taiwan The European Commission, the executive body of the European Union, has decided to reduce anti-dumping duties for exporters of flat stainless steel cold rolled steel (SSCR) products from Taiwan. The country's Ministry of Economic Affairs, citing the official magazine of the European Union, says... 31.08.2015  12:44