Steel News

Report: Gerdau May Acquire Stake in Indian Steelmaker

23 September 2015 - Lenders to India’s Visa Steel have decided to convert a large portion of the company’s debt into equity using the Reserve Bank of India’s strategic debt restructuring scheme, according to The Financial Express newspaper.

German Company Sues Baker Hughes Over Steel Valves Installed in Gas Field

23 September 2015 - A German company is suing oilfield services provider Baker Hughes Inc., alleging that it used the wrong type of steel in safety valves intended for a large gas storage facility. As a result, the company’s $2.5 billion investment could be rendered worthless, BloombergBusiness reported.

Indian Steel Ministry Asks Producers to Consider Iranian Investments

22 September 2015 - India’s steel ministry has asked domestic producers to consider making capital investments in Iran, which is extending its rail network and expanding ports and highways, according to The Indian Express newspaper.

Four Appointed to LME's Steel Committee

22 September 2015 - The London Metal Exchange (LME) has added four members to its steel committee as it prepares to launch new contracts for steel scrap rebar in November, the exchange has announced.

Global Steel Production Down in August

22 September 2015 - Worldwide crude steel production fell 3 percent in August, dropping to 132.2 million metric tons, according to the World Steel Association.

SSI Suspends Production at U.K. Mill, Undertakes Debt Restructuring

21 September 2015 - Thailand's Sahaviriya Steel Industries (SSI) and three main creditors said they will attempt to restructure THB50 billion (US$1.4 billion) in debt to repair the steelmaker’s balance sheet, Reuters reported.

Report: EU To Set Minimum Price On GOES Imports

21 September 2015 - The European Union is preparing to set a minimum price on imports of a specialized steel from five countries, including the United States, according to Reuters.

Patented Stainless Grade Chosen for Tank Project

21 September 2015 - Finland’s Outokumpu has fulfilled an order for 245 metric tons of its Forta LDX 2101 lean duplex stainless steel, one of its largest orders for the product to date, the company has announced.

Malaysia Launches Investigation Into Imported Hot Rolled Coils

17 September 2015 - Malaysia has opened a safeguard investigation into imported hot rolled coils, the country’s Ministry of International Trade and Industry has announced.

Steelmaker Issues Acceptance Certificate on Continuous Caster Improvements

16 September 2015 - German steelmaker Elbe-Stahlwerke Feralpi GmbH has issued the final acceptance certificate for improvements to a 21-year-old continuous billet caster, according to the contractor on the project.

Unions: Lack of Support Threatens U.K Steel Industry

16 September 2015 - Labor unions have called on the British government to do more to support the country's steel industry following reports that SSI UK's Redcar works, along with roughly 3,000 jobs, are in jeopardy.

Chinese Steelmaker Enters Clean Technology Sector

16 September 2015 - China's General Steel Holdings Inc. is acquiring a majority equity stake in a manufacturer of industrial ceramics and a product used in systems that reduce air pollution, the company has announced.

Tata Steel Wins Approval For Mill Expansion

16 September 2015 - India's Environment Ministry has signed off on a Tata Steel project that will more than double the capacity of its Jamshedpur works' cold rolling mill, according to The Hindu Business Line newspaper.

U.K. Mill In Debt, Faces Uncertain Future

15 September 2015 - One of the United Kingdom’s largest steel mills is in financial peril, having missed a series of loan repayments to its banks, according to The Telegraph newspaper.

Company Wins Contracts for Blast Furnace Improvement at Italian Steel Works

15 September 2015 - The Paul Wurth Group has been awarded contracts for major environmental upgrades to the idled No. 5 blast furnace at Italy’s ILVA steel works in Taranto.

To Protect Domestic Producers, India Imposes Hefty Duty on Hot Rolled Imports

14 September 2015 - The Indian government has imposed a temporary 20-percent duty on certain imported steel products, according to Reuters.

ArcelorMittal Fulfills Order for New Grade of Sheet Piling

14 September 2015 - ArcelorMittal has delivered 3,200 metric tons of a new steel to a Scottish seaport project, its largest shipment yet, the company has announced.

China Records August Increase in Crude Steel Output

14 September 2015 - Despite government-mandated mill shutdowns, China’s crude steel production grew in August, rising 1.7 percent from the previous month, reports BloombergBusiness.

Process Pipe Fabricator Wins Order In Support of Pulp Mill Expansion

11 September 2015 - The process pipe fabrication shop at Finland's Caverion Group has won an order for 350 metric tons of stainless steel piping, part of a EUR530 million upgrade to a pulp mill, the company has announced.

U.S. Trade Commission Proceeding With Import Investigation Into Cold Rolled Flat Products

10 September 2015 - The U.S. International Trade Commission has agreed to proceed with a trade investigation into cold rolled flat products from seven countries, including China, concluding that there is a reasonable indication of harm to domestic producers.