Steel News

POSCO Product Wins Top Government Honor

29 August 2016 - A POSCO product designed to cut noise between floors in apartment buildings has been recognized with a Jang Young Sil award, South Korea’s top honor for industrial technology.

Magnetation Planning to Wind Down Operations

29 August 2016 - AK Steel Corp. will pay up to US$37.5 million to end its pellet supply agreement with its joint venture pellet producer, Magnetation LLC, which will begin to wind down its remaining operations unless it finds a buyer or new financing.

ArcelorMittal Plans Improvements to Jumbo Beam Mill

29 August 2016 - Danieli has won an order for upgrades to the finishing end of ArcelorMittal’s jumbo beam mill in Luxembourg, the equipment manufacturer has announced.

The Time is Now for Meaningful Commitments on Capacity Reductions, SMA Chairman Says

26 August 2016 - In spite of new trade laws and a spate of anti-dumping cases, unfairly traded steel imports continue to pose significant challenges for U.S. steelmakers, the chairman of the Steel Manufacturers Association said on Friday.

Cliffs Natural Resources, Steelworkers Shake Hands on New Labor Agreement

26 August 2016 - North American iron ore miner Cliffs Natural Resources Inc. has reached a tentative labor agreement with the United Steelworkers union, the company announced on Friday.

Billions of Rupees Committed to a New Mill, Plans for Another Set Aside

26 August 2016 - India’s JSW Steel plans to commit the equivalent of US$7.5 billion to build a large steel works in the state of Odisha, reports the Business Standard newspaper.

In Indiana, Steelworkers Rally Over U. S. Steel Layoffs, and ArcelorMittal Advances Optimization Plan

26 August 2016 - The United Steelworkers union is rallying this afternoon in downtown Gary, Ind., protesting U. S. Steel Corp.’s decision to layoff approximately three dozen maintenance workers at the Gary Works, reports The Times newspaper of northwest Indiana.

Temporary Mill Shutdowns in China May Halt Advancing Iron Ore Prices

25 August 2016 - Amid reports of orders for Chinese mills to shut down during the G20 summit in Hangzhou early next month, iron ore traders are likely to be keeping a close eye on the markets for signs of a retreat in prices.

Konecranes Says Its Hoist Business Can Stand on Its Own Financially

24 August 2016 - Had it been a stand-alone entity, Konecranes’ STAHL CraneSystems business would have posted earnings of EUR30 million before interest, taxes, depreciation and amortization in 2015, the company said on Thursday.

Essar Minnesota Lists US$1.1B in Liabilities

24 August 2016 - Essar Steel Minnesota owes US$1.1 billion, more than five times the value of its reported assets, reports the Mesabi Daily News newspaper.

Tata Steel Initiates Exports of New Iron Product

24 August 2016 - Tata Steel said its new Kalinganagar steel works in India shipped its first export batch of an alternative iron product called Tata Ferroshots.

Arrium Goes Out on the Road in Search of a Buyer

23 August 2016 - Executives of Australian steelmaker and iron ore miner Arrium are in Asia this week, shopping around the debt-laden business in advance of the release of the formal sale documents, reports The Australian Financial Review.

BlueScope Steel Exits Castrip Joint Venture

23 August 2016 - Australia’s BlueScope Steel Ltd. has divested its stake in Castrip LLC, its thin strip casting technology joint venture, for US$20 million, the steelmaker disclosed on Monday.

Wire Rod Manufacturer Restarts Upgraded Mill

23 August 2016 - SMS group has successfully completed upgrades to a German wire rod mill, the equipment maker has announced.

United Steelworkers, Others Pressing Canadian Federal Government to Support Steel Industry

22 August 2016 - Calls are mounting for the Canadian federal government to step off the sidelines and take action in support of Canada’s steel industry and its employees, both retired and active, reports The Hamilton Spectator newspaper.

Aided by Its North American Sheet Mill, BlueScope's Fortunes Rise in Fiscal 2016

22 August 2016 - Australia’s BlueScope Steel more than doubled its underlying net profits in fiscal 2016 due in part to higher sales and cost reductions as well as to having taken full ownership of its U.S. sheet mill.

AK Steel Begins Marketing New High-Strength Auto Steels

22 August 2016 - AK Steel Corp. is launching a new line of high-strength, lightweight steels intended to help automakers reduce the weight of their vehicles, the Ohio-based steelmaker announced on Monday.

Essar Algoma Sale to Take More Time to Finalize

19 August 2016 - The group of lenders proposing to acquire Canada’s Essar Steel Algoma is continuing to negotiate the sale with the company’s bondholders, federal and provincial governments and the United Steelworkers union, but a closing doesn’t yet appear to be at hand, according to a court filing.

EVRAZ Sees North American Sales for Rail, Tube Decline

19 August 2016 - Russia’s EVRAZ saw its sales fall nearly 28 percent in the first half of 2016, primarily on lower prices and weaker demand. But the second quarter brought about improving conditions, and the company is therefore “cautiously optimistic” about the second half, it said on Thursday.

New Steelworks Reaches 100,000 Metric Tons of Monthly Production

19 August 2016 - Tata Steel managing director T.V. Narendran said the company’s Kalinganagar steel works produced 100,000 metric tons of steel in July as the company continues to ramp up production at the new facility.