Steel News

Primetals Technologies to Modernize Rebar Rolling Line for KWTSteel in Kuwait

19 February 2015 - United Steel Industrial Company (KWTSteel), a Kuwaiti steel producer, has awarded Primetals Technologies an order to modernize its rebar rolling mill in the Shuaiba Industrial Area, Kuwait. Under the project the rolling mill will be equipped with an inline quenching system (PQS, Pomini Quenching System) and a new hot dividing shear with a higher capacity. The quenching system will produce the required material proper ties largely without the need for expensive alloying elements. This will improve KWTSteel’s access to export markets. The modernized rolling mill is scheduled to go on stream late 2015.

NSSMC Agrees to Long-Term Contract of Stable Tinplate Supply With Africa’s Largest Can Manufacturer

19 February 2015 - Nippon Steel & Sumitomo Metal Corp. has exchanged a protocol regarding the long-term contract for stable supply of tinplate with Nampak Products Ltd.

A New Furnace-Building Company, ACE Furnaces Pvt. Ltd., Introduces Key Personnel

19 February 2015 - A new Furnace-building Company called ACE Furnaces Pvt. Ltd. (AFPL) has been formed last year, having core competency in Designing and Manufacturing Industrial Furnaces for various applications. AFPL has been formed through merging of various experiences and professional know-how on a vast range of furnaces for both ferrous as well as non-ferrous industries, with a view to offer quality-engineered Furnaces to the Users, with maximum Customer Satisfaction.

General Steel Establishes RFID Company

18 February 2015 - General Steel Holdings, Inc. ("General Steel" or the "Company") (NYSE: GSI), a leading non-state-owned steel producer in China, announced today that the Company, through its previously-announced joint venture with a team of Radio-Frequency Identification ("RFID") experts, has completed the establishment of a new RFID logistics company and appointed Michael Au as CEO of the new company named Tianjin General Shengyuan IoT Technology Co., Ltd. ("General Shengyuan IoT").

ArcelorMittal's Q4 Loss Narrows, Sees Lower FY15 Profit

17 February 2015 - Steel giant ArcelorMittal posted a loss in the fourth quarter of 2014 as lower iron-ore pricing weighed on its mining segment and it also saw reduced steel selling prices. Weak demand from China, a key market, continued to hurt iron ore prices in the quarter.

POSCO to Sell Stake in Construction Unit to Saudi Fund

17 February 2015 - South Korean steelmaker POSCO has signed a preliminary deal with Saudi Arabia's Public Investment Fund (PIF) to sell part of its construction unit for about 1.5 trillion won ($1.36 billion), Korea Economic Daily reported.

Sandvik awarded ‘The Best Innovator’ of the year in Czech Republic

16 February 2015 - Sandvik in Chomutov, Czech Republic has been announced as the winner of the prestigious award Best Innovator of the year in the Czech Republic - recognition of the company's way of working with innovation.

Outokumpu’s Head of Business Area APAC Austin Lu Leaves the Company

16 February 2015 - Austin Lu, Outokumpu’s head of business area APAC and Outokumpu Leadership Team member has taken a new challenge outside the company, thereby leaving his position as of March 31, 2015.

Mechel Becomes Potential Rail Supplier for Germany's Railways

16 February 2015 - Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, reports that Chelyabinsk Metallurgical Plant won the status of a potential rail supplier to Germany's railway operator Deutsche Bahn AG, following a production audit.

Fives Selected for Five New High-End Automotive Steel Projects

13 February 2015 - Fives, an international engineering group which designs and supplies process technologies to various industries, has been awarded five new processing line contracts for the automotive steel market, making it in this field a dominant equipment provider to steelmakers.

MMK Carrying Out Large-Scale Blast Furnace Modernization

13 February 2015 - OJSC Magnitogorsk Iron and Steel Works (MMK) is carrying out technical upgrades to its blast furnace No. 8.

ArcelorMittal Ostrava Casts Unique Format of Round Billets for Tube Production

12 February 2015 - ArcelorMittal Ostrava has begun production of continuous cast billets with a unique small diameter of 130 mm.

Shougang's Malaysia JV Mill Produces First Slab

12 February 2015 - Eastern Steel, a joint venture between northern China flats major Shougang Group and Malaysia’s Hiap Teck Venture Berhad (HTVB), has produced its first slab, according to reports in local Chinese media.

MMK Reports Record Production at its Mill 2000

12 February 2015 - OJSC Magnitogorsk Iron and Steel Works’ (MMK) Mill 2000 has reached a record 5 million metric tons of total production of cold and galvanized rolled products.

General Steel Forms Joint Venture to Develop Internet-of-Things Solutions

11 February 2015 - General Steel Holdings, Inc., a leading non-state-owned steel producer in China, announced that the Company has reached a definitive agreement ("the Agreement") to form a joint venture with a team of radio-frequency identification ("RFID") experts (the "Expert Team"), to develop and commercialize RFID technology data solutions.

SSAB Receives EC Approval to Divest 50% of the Shares in Norsk Stål AS

11 February 2015 - SSAB has received approval from the European Commission to sell 50% of the shares in Norsk Stål AS (Norway) to Leif Hübert AS. This transaction is part of the divestment remedies that the European Commission deemed necessary for the combination of Rautaruukki with SSAB. The transaction is still subject to the approval of national competition authorities. This transaction has only a limited impact on SSAB’s financial results. SSAB has earlier divested Plannja Oy in Finland to Metehe Oy.

voestalpine Reports Significant Increase in Earnings After First Nine Months of the Business Year

11 February 2015 - Although the development of the global economy was very inconsistent in 2014 and, after a relatively optimistic start, was marked by an increasingly sober mood from the summer months onward, the steel-based technology and capital goods group voestalpine reported a significant increase in earnings in the first three quarters of the business year 2014/15 (April 1 to December 31, 2014).

TMK and RUSNANO Expand High-Tech Pipe Production

11 February 2015 - Russian tubular products producer TMK and state-owned RUSNANO Corp. are running a joint project at TMK’s Seversky pipe plant to expand the production of high-tech pipe with improved performance for the oil and gas industry.

Metalloinvest Enters Final Stage of Environmental Project at OEMK

11 February 2015 - Metalloinvest has begun the modernization of the second gas purification unit at its electric arc furnace shop at OEMK (part of Metalloinvest) in Russia.

Ovako Signs Agreement With SSAB to Acquire Tibnor Oy

10 February 2015 - Ovako has signed an agreement with SSAB to acquire steel and metals distributor Tibnor Oy in Finland. The deal has been approved by the European Commission and will now be examined by competition authorities in Finland and Estonia for final approval. The acquisition is expected to have a slightly positive impact on Ovako's operating profit and a slightly negative impact on cash flows for 2015.