Countries

US Steel to temporarily idle Minnesota ore operations

  Mining Technology –  United States Steel (US Steel) has announced plans to scale-down production and temporarily idle a portion of its Minnesota Ore Operations – Minntac plant in Mountain Iron, Minnesota. According to local union officials, this will come into effect from 1 June, resulting in job losses for ...

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Nickel bounces off near six-year low

  Reuters – Nickel bounced off its lowest level in nearly six years on Wednesday as some investors, betting on price falls, locked in profits, but concerns about Chinese economic growth weighed on other base metals. Nickel has spiralled lower on worries about lacklustre consumption from the stainless steel sector, ...

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JAA: Japan aluminium product demand seen rising 1.8 pct in 15/16

  Reuters – Japan’s aluminium product demand, including for exports, is expected to grow 1.8 percent in the financial year starting April 1, backed by rising demand for cans for coffee beverages and a rebound in construction market, an industry body said. “Japanese economy is improving thanks to ‘Abenomics’ while ...

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Egypt: Build a new capital at a cost of $45 billion

Al Ahram Weekly – Egypt's construction industry is gearing up for a marked increase in activity following announced plans to build a new capital at a cost of $45 billion, along with other major real estate projects worth over $12 billion. The projects were unveiled at last month's Egypt Economic ...

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China to cut 80 mt of steel capacity over 2015-17

Reuters – China will aim to cut as much as 80 million tonnes of excess steel capacity in the next three years to tackle a massive supply glut that has plunged much of the sector into crisis, a government official said on Saturday. Speaking at an industry forum, Luo Tiejun ...

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China’s iron ore stocks dwindle as price fall scares off buyers

Reuters – Stocks of imported iron ore at ports in China, the world's biggest consumer, have stuck at or below the 100 million tonne mark since the start of the year. They look set to fall further as a protracted price slump drives away buyers. Inventories of the steelmaking raw ...

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UAE: steel, aluminium as two of 13 industrial sectors for economic growth

KhaleejTimes – The Abu Dhabi industrial strategy will focus on 13 industries in 2015 to boost economic growth, a report said. Top on the agenda would be high growth sectors of renewable energy, gas, semi-conductors, construction material and petrochemicals. Aviation, transport equipment, iron and steel, aluminium, plastics and food would ...

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EUROFER welcomes EU anti-dumping measures against imports of SSCR from China and Taiwan

  EUROFER – The European Commission has imposed provisional anti-dumping duties of up to 25,2 % on stainless steel cold rolled flat products (SSCR) imports from PR China and up to 12,0 % on imports from Taiwan, following the complaint which was filed by EUROFER in May 2014.The Commission’s investigations ...

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India: Mesco Steel, Posco in pact to set up finex furnace in Odisha

EconomicTimes – India's Mesco Steel has signed an initial agreement with Posco to set up a plant that would use the South Korean steelmaker's finexBSE 0.00 % technology to make steel.  The plant would come up at Mesco's facility at Jajpur in Odisha. This will help the local company venture ...

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Chinese rebar futures extend gains as steel mills cut output

    Reuters – Chinese rebar futures rose to their highest level in nearly three weeks on Tuesday as tougher environmental checks forced some steel mills to curb production just when demand in the world's top consumer is expected to start picking up. Some steel mills in the northern Chinese ...

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