Russian metallurgists to tighten their belts
Edited by Rhod Mackenzie
Armenia Metals and mining Norilsk Nickel Russia Severstal Petropavlovsk Polymetal Polyus Gold Gold Nickel Steel
The situation in the metallurgy secor – as in ferrous, as well as in nonferrous – is far from optimistic: the era of the runaway growth of Chinese economy is now gone and mining companies around the world have to work in conditions of low prices for their products, decreasing investment programs and the freezing of the exploration of new deposits.
Shortly before the Day of metallurgist, which fell on July 21st this year, Russian representatives of the sector discussed their problems at the meeting in the Prime Minister Dmitry Medvedev’s office. Hopes for the state support occurred, but they have found their concrete realization only in the pipe industry – duty-free import of Ukrainian pipes was stopped.
