Steel News

Severstal Q1 Net Profit Falls Almost 90% on Lower Prices

21 May 2013 - Russian steelmaker Severstal's IFRS net profit fell 89.7 percent year-on-year in January-March 2013 to $44 million, the company said on Monday, citing weaker demand and lower realized prices as contributing factors.

Novolipetsk 1Q Net Profit Falls 78%, Sees Ongoing Challenges

20 May 2013 - Russian steelmaker Novolipetsk Iron & Steel Corp. (NLMK.RS) said Friday its first-quarter net profit fell 78% on the year earlier to $38 million, noting that challenges in the global steel market remain.

Severstal Izhora Mill Delivers Pipes for Pipeline Project in Asia

20 May 2013 - ZAO Izhora Pipe Mill, the specialist manufacturer of large diameter pipes made from strip produced by Cherepovets Steel Mill, both enterprises within the Russian Steel Division of OAO Severstal, one of the world’s leading steel and steel related mining companies, has shipped pipes for the construction of the Central Asia — China international gas pipeline.

Salzgitter AG update on Q1 2013 performance

17 May 2013 - In the first three months of 2013, the performance of the Salzgitter Group was overshadowed by persistently unfavorable general economic conditions in Europe.

Austria's Voestalpine on track to hit earnings forecast

17 May 2013 - Austrian steelmaker Voestalpine is on track to hit earnings before interest and tax (EBIT) of about 800 million euros ($1.03 billion) for 2012/13, up from 704 million last year, Chief Executive Wolfgang Eder said.

SAIL plans second plant at Burnpur

17 May 2013 - Steel Authority of India Ltd. (SAIL) is planning to set up a new 3 million tonnes per annum (mtpa) plant at Burnpur, West Bengal, in addition to the 2.5 mtpa unit now under erection there.

Hebei Puyang Iron and Steel Orders Medium Slab Caster from SMS Siemag

17 May 2013 - China's Hebei Puyang Iron and Steel Co., Ltd (Puyang Steel) has awarded SMS Siemag Technology (Beijing) Co. a contract for the supply of a medium slab caster to be installed at the works in Wuan City, Hebei Province.

Outokumpu Conducting Strategic Review of Its VDM High Performance Alloys Business

17 May 2013 - Outokumpu has started a strategic review of its high performance alloys or VDM business unit. During this review, Outokumpu will evaluate strategic options for VDM and consider how best to drive continued growth and profitability for the business, within or outside of Outokumpu.

Tenaris’ Dopeless® Technology Run for First Time in Brazil

17 May 2013 - Tenaris’ Dopeless® technology was run for the first time in Brazil, in a Petrobras deepwater offshore operation, during the first half of this year.

ArcelorMittal Ruhrort's RH Facility to Receive New Vacuum Pump from SMS Mevac

17 May 2013 - ArcelorMittal Ruhrort in Duisburg, Germany, has contracted SMS Mevac GmbH to modernize the steam ejector pump system for its existing RH facility (Ruhrstahl-Heraeus process). .

JFE Steel to Launch Steel Pipe Manufacturing and Sales JV in Zhejiang, China

16 May 2013 - JFE Steel announced that it, Kawasaki Kokan Co., Marubeni-Itochu Steel Inc. and Taiwan's largest cold drawn pipe manufacturer Shuan Hwa Industrial Co. signed an agreement to establish a joint-venture company in Zhejiang Province, China.

CSN announces Q1 2013 results

16 May 2013 - Brazilian flat-steel maker Companhia Siderurgica Nacional (SID, CSNA3.BR), or CSN, late Wednesday reported a drop of 82% in its first-quarter net profit, due to the rise of its costs in the period.

IronArc Revolutionizing Iron Production, Halving Carbon Dioxide Emissions

15 May 2013 - A new method for producing hot metal has been developed by ScanArc Plasma Technologies of Sweden, in collaboration with the steel group Ovako at its Hofors, Sweden, plant.

Praxair Is Building Chinese Base

15 May 2013 - Praxair has started to build a liquid oxygen production base in Chongqing, the largest of its kind in China.

ThyssenKrupp Meets Operating Targets in First Half of 2012/2013

15 May 2013 - In the 1st half of the 2012/2013 fiscal year (October 01, 2012 – March 31, 2013) ThyssenKrupp achieved order intake from continuing operations of €19.3 billion, down 7% year-on-year.

LanzaTech Plans to Raise $80 Million for Waste Gas-to-Biofuel

15 May 2013 - LanzaTech NZ Ltd. plans to start raising $60 million to $80 million from venture capital and strategic investors this year to develop technology for waste gas-to-biofuel.

Salzgitter's Loss Widens in 1Q, Expects No Significant Improvement

15 May 2013 - Germany-based steelmaker Salzgitter Group has issued its financial results data for the first quarter of the current year, stating that the performance of the company was overshadowed by persistently unfavorable general economic conditions in Europe.

Emirates Steel Develops Apprenticeship Program

14 May 2013 - Emirates Steel, the only integrated steel plant in the UAE, has developed an internationally accredited three-year apprenticeship program that will develop the skills, knowledge and professionalism of UAE nationals.

Tata Steel Writes Down Assets Due to Weakness in Europe

14 May 2013 - Tata Steel expects non-cash write down of the goodwill and assets in the consolidated financial statements for the year ended 31 March 2013 of around US$1.6 billion due primarily to weakness in Europe.

Cambelle-Inland Forms Strategic Alliance with China Gerui Advanced Materials Group

13 May 2013 - China Gerui Advanced Materials, a high-precision, cold rolled steel producer in China, engaged Cambelle-Inland, the China investment vehicle of Craig T. Bouchard to advise it on strategic planning and expansion in North America and around the world.