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Latest News

Essar Steel Creditors Give Nod to ArcelorMittal Offer

30 October 2018 - Essar Steel India Ltd.’s creditors have named ArcelorMittal as the successful bidder for the debt-laden business, accepting its US$6.8 billion offer. 

In Surprise Move, Essar Steel Promoters Offer to Repay Lenders and Halt Bankruptcy Sale

25 October 2018 - India’s Ruia family, which promotes Essar Steel India Ltd., have made a last-ditch effort to reclaim the bankrupt business, offering to pay off the equivalent of US$7.4 billion, just as creditors were to vote on a bid from ArcelorMittal. 

Supported by Energy Market Rebound, Tenaris Restarts Texas Facility

25 October 2018 - Tenaris has restarted parts of an idled line pipe and OCTG mill in Conroe, Texas, citing improved market conditions.

Tenova Bags Order for Vietnamese Galvanizing Line

25 October 2018 - Vietnamese sheet processor Southern Steel Sheet Co. Ltd. (SSSC) has ordered a third galvanizing line from Tenova for its plant in Nhon Trach.

EVRAZ Eyes Expansion of U.S. Rail Capabilities

25 October 2018 - EVRAZ North America is weighing construction of a new US$480 million rail mill at its Rocky Mountain Steel facility in Pueblo, Colo., the company has announced.

SSAB Adds to Roster of Steel Products

25 October 2018 - Specialty steel producer SSAB has added a new type of steel to its product mix, one that it says is geared for product manufacturers that have stamping, punching, slitting and complicate die forming operations in its production lines.

To Avoid Tariffs, Metals Businesses Looking to Set Up Shop in U.S.

25 October 2018 - The Trump administration’s Section 232 tariffs on steel and aluminum is prompting some overseas companies to begin kicking around for acquisition targets as a way to avoid the tax, according to professional services firm PwC.

Nucor, SDI Report Hefty Q3 Profits 

18 October 2018 - America’s two biggest electric arc furnace producers each saw third-quarter profits rise on higher prices and shipments, they reported on Thursday.

Keep International Committee on Excess Capacity Going, World Steel Chairman Says

17 October 2018 - The World Steel Association’s outgoing chairman said a global body aimed at reducing excess steel capacity is making inroads and should be allowed to continue its work. 

Report: U. S. Steel Union Employees in Line for Raises

17 October 2018 - Union employees at United States Steel Corporation will see their wages cumulatively increase 14% over the next four years if they ratify a tentative labor agreement, the Reuters news service reports. 

To Allow for Essar Steel Acquisition, ArcelorMittal Agrees to Pay Off US$1B in Debt

17 October 2018 - ArcelorMittal said it is prepared to pay off the equivalent of about US$1 billion in debt on two businesses in which it had held ownership stakes in order to win approval to buy another.

Global Steel Demand Predicted to Rise This Year 

16 October 2018 - Worldwide steel demand is expected to grow 3.9% this year on the underlying health of developed and emerging economies, according to the World Steel Association. 

U. S. Steel, USW Agree on Four-Year Labor Deal 

16 October 2018 - United States Steel Corporation and the United Steelworkers union have reached a tentative, four-year labor agreement, the union and the steelmaker have announced. 

Report: Trump Administration Looks for Quotas on Mexican Steel 

16 October 2018 - As part of discussion to lift the 25% tariff on steel imports with Mexico, U.S. negotiators are proposing a quota on Mexican imports, according to the Reuters news service. 

Steelmaker Targets Heavier Bar-in-Coil Weights Through Mill Upgrade 

16 October 2018 - South Korean long products producer DaehanSteel Co. Ltd. has awarded a contract to SMS group for upgrades to a rolling mill at the company’s Pyeongtaek plant. 

Looking to Block Diverted Steel, Canada Imposes Tariff on Seven Products

12 October 2018 - Canada is imposing a provisional tariff on seven steel products, saying the safeguard measure is necessary to prevent its home markets from being flooded with steel that would have been sold into the U.S., if not for the Trump administration’s Section 232 tariffs. 

Liberty House Adds Four European Steel Plants to Growing List of Assets

12 October 2018 - Sanjeev Gupta’s Liberty House Group has signed an agreement to buy four ArcelorMittal facilities in Europe, an acquisition that will double its rolling capacity to more than 15 million metric tons annually. 

United Steelworkers Ratify Cleveland-Cliffs Labor Deal 

12 October 2018 - Union workers at iron ore miner Cleveland-Cliffs Inc. have ratified a four-year labor agreement with the company. 

Primetals Technologies Announces Improvements to Michigan Service Shop 

12 October 2018 - Primetals Technologies has upgraded its Benton Harbor, Mich., USA, service workshop, making enhancements that will allow it meet increased demand for continuous caster mold refurbishments.

U. S. Steel Blast Furnace Once Again Making Hot Metal

11 October 2018 - Roughly four months after restarting the B furnace at its Granite City Works in Illinois, United States Steel Corporation has brought back up the facility’s A furnace.

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