Steel News

Posco, KOCEMA to Cooperate on Steel Technologies

22 February 2010 - Posco recently signed the “Technological Support and Steel Products Supply Agreement for Mutual Cooperation of Large, Mid, and Small Sized Companies” with KOCEMA (Korea Construction Equipment Manufacturers Association) in Seoul.

Severstal Columbus Closes Senior Secured Note Offering

22 February 2010 - Severstal Columbus LLC, a subsidiary of OAO Severstal, has issued a US$525 million aggregate principal amount of eight-year callable senior secured notes at an original issue discount of 2% and an annual coupon rate of 10.25%.

Cliffs Reports Fourth-Quarter, Full-Year Results

19 February 2010 - Cliffs Natural Resources Inc. reported full-year revenues of $2.34 billion for the period ended Dec. 31, 2009, a decrease of 35% from the previous year. Consolidated fourth-quarter revenues were $820.5 million, a decrease of 10% compared to the same quarter last year.

Posco Confirms Executive Director Candidates

19 February 2010 - Posco recently held a board meeting to confirm Posco ICT CEO Han-yong Park, Vice President Chang-gwan Oh (Marketing Director), and Jin-il Kim (Head Manager of Pohang Steelworks) as executive director candidates. They will take the post following approval at the shareholders meeting scheduled for February 26.

LKAB Plans for Three New Iron Ore Mines

19 February 2010 - LKAB plans to open an open-pit mine at Gruvberget, near Svappavaara, during the first half of 2010. The company also plans to submit applications this year for a project to drain the Leveäniemi open pit, which was closed in the mid-1980s, and for test drilling at Mertainen.

Danieli Heavy Section Mill Selected for ESI Minimill Expansion

19 February 2010 - Emirates Steel Industry (ESI) has contracted Danieli for the completion of Phase 2 expansion of the minimill complex currently in operation in the Mussaffah Industrial Area, Abu Dhabi, with the installation of a new heavy section mill with a capacity of 1 million tonnes per year of large-size sections, beams, columns, and sheet piles.

Universal Stainless to Increase Base Price for Stainless Wire Rod

19 February 2010 - Universal Stainless & Alloy Products announces a 5% base price increase on all stainless wire rod manufactured at its Dunkirk Specialty Steel, LLC facility.

Reliance Steel & Aluminum Reports 4th Quarter, Full Year 2009 Results

19 February 2010 - Reliance Steel & Aluminum reported net income of $92.1 million on sales of $1.27 billion for the fourth quarter and net income of $148.2 million on sales of $5.32 billion for the fiscal year ended December 31, 2009.

Mechel Progresses in Development of Elga Coking Coal Deposit

18 February 2010 - At the beginning of February, two special heavy machinery convoys departed from the Upper Ulak station (Amur Region) where a Mechel OAO-owned construction base is located. The equipment, which is intended for development of Elga coking coal deposit, has reached the location of the new open pit mine construction.

Danieli Bar and Section Mill in Operation at Duferdofin-Nucor Giammoro

18 February 2010 - The new Danieli merchant bar mill was started up in November 2009 at Duferdofin-Nucor Giammoro, Sicily. The 20-stand high-speed continuous mill has a designed capacity of 700,000-tonnes per year of 8 to 25-mm-diameter deformed bars and a range of sections, rolled at rates of 100 tonnes per hour.

BSP Awarded as Best Integrated Steel Plant

18 February 2010 - Bhilai Steel Plant (BSP), the flagship unit of Steel Authority of India Ltd., has received the Prime Minister’s Trophy for emerging as the best-performing steel plant in the country for the years 2006-07 and 2007-08.

Posco Delivers Haiti Relief Funds

18 February 2010 - Posco delivered relief funds of USD300,000 for Haiti to the Korean National Red Cross President Yoo Chong-ha on February 10, along with a KRW 78 million donation collected from 9447 employees in online contributions between January 22 and 28.

ALJ Announces 1st Quarter Earnings

18 February 2010 - ALJ, the parent company of Kentucky Electric, reports a net loss of $153,106 on net sales of $21.03 million for the three months ended December 31, 2009.

Canadian Steel Shipments Rise Sharply in January

17 February 2010 - January steel product shipments from Canadian metals service centers were 9.2% higher than in January 2009, according to the latest Metals Activity Report from MSCI.

Danieli Bloom Casters in Operation at Acciaierie Venete, RUE BMZ

17 February 2010 - A new jumbo-size conticaster for large-size blooms from Danieli has operated successfully since November 2009 at Acciaierie Venete, an Italian SBQ producer. Danieli Centro Met also carried out reconstruction and upgrading of the four-strand No. 3 bloom caster at the No. 2 steel melting shop of Byelorussian Steel Works (RUE BMZ) of Zhlobin, Belarus.

ArcelorMittal TB Zaragoza to Deliver Tailored Blanks for Opel Meriva

17 February 2010 - ArcelorMittal TB Zaragoza will deliver yearly around 1.2 million laser welded parts, or tailored blanks, representing around 18,000 tonnes per year of galvanized high-quality steel, for the new Opel Meriva.

AISI Challenges EPA Endangerment Finding

17 February 2010 - The American Iron and Steel Institute has filed a legal challenge to the Environmental Protection Agency’s recent decision that will result in greenhouse gas emissions being regulated under the Clean Air Act.

United Steelworkers Partner in Climate Change Study

17 February 2010 - The United Steelworkers is a key participant in a six-year study of the challenges posed by climate change to Canadian workplaces and possible solutions to these issues.

Vallourec to Invest in New Youngstown Rolling Mill

16 February 2010 - Vallourec plans to build a new state-of-the-art, small-diameter rolling mill in Youngstown, Ohio. The company says this decision is supported by the long-term development of unconventional gas production in the U.S., which is driving increased demand for small-diameter OCTG tubes.

Pomina, Thep Viet Steel Group Select Tenova Melt Shops

16 February 2010 - Tenova Melt Shops has been chosen by Pomina and Thep Viet Steel Group to supply a new melt shop unit with a Consteel® EAF. The melt shop is scheduled to be put in operation at the end of 2011 in Phu My Industrial Zone, near Ho Chi Minh City.