Ukrainian steel; Severstal finds buyers; European drilling operations; Chinese recycling market; Kenya’s waste deal
Ukrainian steel to be diverted to global markets
The turmoil in Ukraine could divert up to 25 million tonnes of steel into the international market, the equivalent to its exports to Russia last year, as growing tensions between the two countries force it to look for alternative trade partners.
The claim was made by Tata Steel in its latest annual report. “The situation in Ukraine may increase steel availability in the rest of the world as 70% of Ukraine’s steel production of 35 million tonnes per annum was earlier exported to Russia,” it said.
The Economic Times
Severstal finds buyers for US plants
Russian steelmaker Severstal has found buyers for its two North American steel units in a deal worth $2.3bn (£1.35bn). US-based Steel Dynamics will acquire Severstal Columbus plant, while AK Steel, also US-based, will buy Severstal Deaborn Plant.
Opportunities in European drilling operations
The market for waste management in drilling operations is forecast to rise 10.7% on average every year to reach $1.6bn (£936m) by 2018 from around $900m in 2013, according to a new report by MicroMarket Monitor. Russia is the biggest player in Europe, with a market share of around 78%.
China recycling market to surpass $150bn
The Chinese recycling industry will be worth more than $150bn (£87.7bn) in activity by 2018, according to market research company BCC Research. The country’s market is predicted to achieve an average annual growth rate of 8.7% in the next five years. About $103bn worth of recycling-related economic activity occurred in China in 2013.
Kenya seals waste deal with US and Dutch firms
Kenya’s Kisumu County has reached a 7.1bn Kenyan shillings (£46.5m) deal with two international firms for a new waste management project. US firm Global Waste to Energy and Dutch firm Integrated Basic Infrastructure Services will support the scheme with 2.6bn shillings and 4.5bn shillings, respectively.