Metinvest may stop slab output at Azovstal on lockdown in Italy

Ukrainian steelmaker Metinvest may put a complete stop to slab production at its Azovstal facility in Mariupol if quarantine measures in Italy, where two of the company's rolling mills are located, are extended after April 3, the company said on Tuesday March 31.

"If measures are prolonged at Italian assets, and the European market remains unstable, Metinvest expects production cuts at its Ukrainian assets - mainly at Azovstal," the company said. "We considering the possibility of stopping slab production completely at this asset."
Overall slab exports from Ukraine, where Metinvest is the only steel slab producer, totaled 3.19 million tonnes in 2019, according to the International Steel Statistics Bureau (ISSB).
Slab shipments to the market from Metinvest's Azovstal and Ilyich Iron & Steel Works in Mariupol made up 1.94 million tonnes of that total in 2019, according to company's financial report.

Fastmarkets' weekly price...

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains

Large TSXV gold multiple driven up by high Artemis weighting

Monetary-driven precious metals outperform major base metals