Steel News

General Moly Signs Off-Take Agreement with SeAH Besteel

16 May 2008 - General Moly announces the signing of an off-take agreement with SeAH Besteel Corp., Korea’s largest manufacturer of specialty steels.

SMS Demag Consortium to Modernize Krakatau Steel Hot Strip Mill

16 May 2008 - PTKS, Indonesia, has placed an order with SMS Demag and its consortium partners to modernize the company’s hot strip mill in Cilegon, West Java.

Toyota Expected to Agree to Steel Price Hike

16 May 2008 - A report published on JCN Network said that Toyota Motor Corp. is expected to agree to a steel sheet price hike exceeding 20,000 yen per ton in negotiations with Nippon Steel Corp.

Metso to Supply Iron Ore Induration Machine to Essar Steel

15 May 2008 - Metso Minerals will supply an iron ore induration machine to Essar Group’s Global Supplies Ltd.

ArcelorMittal to Increase Flat Carbon Prices for Third Quarter

15 May 2008 - ArcelorMittal initiates a price increase for its flat carbon products in Europe that will bring the base price level for hot band to 720 €/tonne, with corresponding increases for cold rolled and coated flat product prices.

Nucor to form Joint Venture with Sidenor

15 May 2008 - Nucor signs MoU with Sidenor regarding a new joint venture for the production and distribution of long steel products and plate in the Balkans, Turkey, Cyprus, and North Africa.

Nucor Moves Forward on Italian Beams Venture with Duferco

14 May 2008 - Nucor enters agreement to acquire 50% of its Duferdofin-Nucor Srl beam production and distribution joint venture with Duferco, for euro 423.5 million.

ArcelorMittal Announces Changes to Management Committee

14 May 2008 - ArcelorMittal announces a number of changes to its Management Committee, including the retirement of Chairman Joseph Kinsch, and the assumption of his role by CEO Lakshmi Mittal.

Siemens to Supply Equipment, Drives, Automation for Posco Process Lines

13 May 2008 - Siemens Metals Technologies will supply special equipment, drives and the automation system for a cold-strip annealing, pickling and finishing line at Posco’s Pohang plant.

Siemens to Equip New Process Line for BlueScope Indonesia

12 May 2008 - Siemens Metals Technologies will equip a new integrated zinc-coating and painting line at PT BlueScope Steel’s Cilegon site, the only production facility in Indonesia that produces coated and painted steel products.

BlueScope Steel Confirms Stronger Outlook in Second Half of 2008

12 May 2008 - BlueScope Steel confirms that it remains on target for a stronger second half, and advises the market of changes to its external reporting business segments.

Corus IJmuiden Launches New Zinc-Based Hot-Dip Coating

12 May 2008 - International steel producer Corus is to launch a new hot-dip zinc-based metallic coating with superior corrosion properties and the potential to significantly decrease coating thickness.

Siemens Modernizes Coke-Oven By-Product Plant for Isdemir

09 May 2008 - Siemens Metals Technologies completes the expansion and modernization of a coke-oven by-product plant for Turkish steel producer Isdemir.

JFE Steel to Boost Coal Output in Australia

08 May 2008 - JFE Steel and JFE Shoji Trade have agreed with their joint venture partners to significantly expand production at the Carborough Downs coal mine in Queensland, Australia.

Siemens to Modernize Cold Rolling Stand for Alunorf

05 May 2008 - Siemens Metals Technologies will modernize the Aluminium Norf GmbH (Alunorf) Cold Rolling Stand No. 4, including the addition of new cooling beam for selective roll cooling and inductive edge heating.

ArcelorMittal Restores 25% Free Float in China Oriental

05 May 2008 - ArcelorMittal announces a series of measures that will restore a 25% free float in China Oriental Group in compliance with the listing rules of the Hong Kong Stock Exchange.

SMS Group Reports Record Business Year

05 May 2008 - SMS group describes 2007 as a record business year, with pre-tax results of EUR 176 million that were double the previous year’s figure of EUR 85 million.

Iron Ore Company of Canada Settles Prices with ThyssenKrupp

02 May 2008 - The Iron Ore Company of Canada reaches agreement with ThyssenKrupp Steel AG on prices for IOC Carol Lake iron pellets and concentrates for 2008.

Sidor Shares Declared of Venezuelan Public and Social Interest

01 May 2008 - The Republic of Venezuela’s National Assembly passes a resolution declaring that the shares and assets of Ternium SA's majority-owned subsidiary Sidor are of public and social interest.

Esmark Agrees to Merge with Essar Steel

01 May 2008 - Esmark agrees to the material terms of a proposed tender offer and merger with Essar Steel Holdings Limited for a cash purchase price of $17.00 per share.