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Ukraine: Kyiv Subway buys 47 million UAH worth of rails
Wed, 04 Aug 2021 09:50:30 GMT
Kyiv Subway has signed an agreement with Sota Ukraine LLC for the delivery of R-50 rails valued at 47.19 million UAH. The company has won an auction against Metinvest SMC LLC. Both companies have offered the rails manufactured by Azovstal, but Sota's offer was 1% cheaper. According to the agreement, R-50 rails cost 39.33

MMK's sustainability reporting ranks in top 5 among global steel ...
Wed, 04 Aug 2021 00:00:00 GMT
The international agency ESG Investing praised the quality of MMK's sustainability reporting (ESG). The ESG Reporting Awards 2021 placed MMK among the top five finalists in the Metallurgy and Mining

Iron ore miners are awash with cash, but see different futures: ...
Tue, 03 Aug 2021 00:00:00 GMT
Major iron ore producers are awash in a sea of cash, and are likely to remain so despite a recent retreat in the price of the steel raw material. Where they diverge is what they think will be the next big drivers of profit. Rio Tinto RIO.AX, the worlds biggest iron ore miner, posted record first-half profits on July 28, with underlying earnings almost tripling to $12.17 billion from the same period a year earlier. The surging profits were largely built on the back of the rise in iron ore

UK business of Tata Steel continues to teeter on the brink
Tue, 03 Aug 2021 00:00:00 GMT
Tata Steel Europe (TSE) posted an operating profit in the fourth quarter (January-March) of fiscal 2021, after making losses for several quarters, due to the commodity boom. But in the UK, it is seen as dependent on funds from the government or the parent company, even as the Dutch unit is operating with more

What Type Of Shareholders Own The Most Number of Fortescue Metals ...
Mon, 02 Aug 2021 18:04:11 GMT
A look at the shareholders of Fortescue Metals Group Limited ( ASX:FMG ) can tell us which group is most powerful...

Vale confident on 2021 iron ore guidance, though recovery still ...
Mon, 02 Aug 2021 00:00:00 GMT
Executives at Brazilian iron ore miner Vale said July 29 they were confident the company will reach its 2021 iron ore production guidance as it will be aided in H2 by seasonal factors and mine capacity advances. Still, the company is currently operating at the lower range of the 315 million mt-335 million mt guidance, executive vice president, ferrous minerals, Marcello Spinelli said during a Q2 results call with investors. Iron ore fines production reached 75.7 million mt in Q2, which was

Shortages continue to disrupt US stainless steel market
Mon, 02 Aug 2021 00:00:00 GMT
Inventory levels across the US stainless steel sector are extraordinarily low. While steel usage rebounded quickly following the pandemic-induced slump, steel production resumed at a much more gradual pace. This resulted in a substantial imbalance between supply and demand developing in the market. Buyers report that, in several grades and sizes of stainless steel flat products, no material is available in the United States. US producers, Outokumpu and North American Stainless, have

MMK approves changes to organisational structure as part of large-scale ...
Mon, 02 Aug 2021 00:00:00 GMT
The approved changes are designed to ensure maximum efficiency of management and control during the implementation of MMK's unprecedented investment programme, aimed at a fundamental technical re-equipment of sinter coke production and subsequent refining processes at the

Metal, steel stocks in focus: Key factors behind surge
Sat, 31 Jul 2021 00:00:00 GMT
Steel and metal stocks were buzzing in trade amid dovish commentary from the Federal Reserve and positive statements from ArcelorMittal. The company raised its 2021 steel consumption forecast to 7.5-8.5 percent from 4.5-5.5 percent, sending out positive signals for the global ferrous space. Traders have been waiting an official announcement on a possible export duty on steel exports that China talked about earlier this week. According to JPMorgan, this will be positive for the Indian steel

Brazils Vale revises down year-end iron ore output
Sat, 31 Jul 2021 00:00:00 GMT
Vale SA flagged potential production setbacks amid temporary issues at multiple iron ore mines, but executives said the Brazilian miner was still on track to ramp up output in the second half of the year. In a presentation released on Thursday morning, the worlds second largest iron ore producer revised down its guidance for year-end production capacity to 343 million tonnes per annum from 350 million tonnes previously. Among the issues holding back production, Vale said, are licensing

Gupta pays USD 25 million to end long-running spat with Rio Tinto
Fri, 30 Jul 2021 22:35:00 GMT
Sanjeev Gupta has paid USD 25 million to Rio Tinto Group to settle a long-running dispute over the final payment for an aluminum smelter he bought from the mining giant in

Vale (VALE) Q2 Earnings Beat, Rise Y/Y on High Iron Prices
Fri, 30 Jul 2021 00:00:00 GMT
Vale (VALE) reports stellar second-quarter 2021 earnings on higher iron ore sales volumes and prices. It maintains its iron-ore production guidance of 315-335 million tons for

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