Steel News

Worthington Reports 2nd Quarter Results

19 December 2008 - ABSTRACT: Worthington Industries reports a net loss of $159.5 million on net sales of $745.4 million for the second quarter, and a net loss of $90.8 million on net sales of $1658.6 million for the six-month period ended November 30, 2008.

World Stainless Production Logs One Last Hurrah for 2008

19 December 2008 - Worldwide production of crude stainless steel reached 6.3 million tonnes in the third quarter of 2008, an increase of 6.8% as compared to the same quarter in 2007, according to the International Stainless Steel Forum.

Revised Emissions Trading Directive to Affect Ruukki Beyond 2013

19 December 2008 - Ruukki’s emissions allowances for steel production will be affected beyond 2013 by recent amendments to the European Union's Emissions Trading Directive.

voestalpine Abandons Efforts to Secure Land in Romania

19 December 2008 - voestalpine Group defers indefinitely its decision on a possible location of a new greenfield steel plant in the Black Sea region, bringing to a halt all efforts to secure property at a potential location in Romania.

Mechel OAO Announces New Appointments

18 December 2008 - Mechel OAO announces a number of new executive appointments, including Vladimir Polin, who will now serve as Senior Vice President of Mechel OAO.

Commercial Metals Reports 1st Quarter Results

18 December 2008 - ABSTRACT: Commercial Metals reports net earnings of $62.0 million on net sales of $2.4 billion for the quarter ended November 30, 2008.

Schnitzer Steel Updates 1st Quarter Expectations

18 December 2008 - ABSTRACT: Schnitzer Steel updates its expectations for fiscal first quarter financial and operating results based on market weakening across all of its product lines, lower sales volumes, and reduced sales prices.

Second Danieli Superflexible Bar and Rod Mill in Operation at Kroman Çelik

17 December 2008 - Kroman Çelik completes startup of its new Danieli superflexible bar and rod mill, with the commissioning of its high-speed wire rod line.

ArcelorMittal Responds to French Competition Council Announcement

17 December 2008 - ArcelorMittal responds to the French Competition Authority’s imposition of a €301.78 million fine on the company’s French subsidiaries that are active in steel distribution.

Baosteel Produces Top Grade Silicon Steels Through PL-TCM

17 December 2008 - Baosteel is successfully producing top grade non-oriented silicon steel through its 1550-mm Pickling Line-Tandem Cold Mill.

SMS Demag and IMS Messsysteme Found SURCON GmbH

17 December 2008 - SMS Demag and IMS Messsysteme form a joint venture, SURCON GmbH, which will develop, produce and market slab inspection systems based on 3D and 2D measuring methods.

ArcelorMittal, European Works Council to Strengthen Dialogue

17 December 2008 - ArcelorMittal’s Group Management Board and the Secretariat of the European Works Council agree to strengthen the social dialogue regarding the company’s SG&A Voluntary Separation programs and other local productivity plans.

ArcelorMittal Reduces Stake in Dillinger Hütte

16 December 2008 - ArcelorMittal will sell off a portion of its shares in Dillinger Hütte, reducing its economic and voting interest in the company from 51.25% to 33.4%.

Evraz Signs $800 Million Loan with Vnesheconombank

16 December 2008 - Evraz Group signs a US$800 million loan with Russia's State Corporation Bank for Development and Foreign Economic Affairs.

SMS Demag to Supply X-Cast Slab Caster for Rourkela Steel

16 December 2008 - SMS Demag will supply an X-Cast slab caster for Rourkela Steel Plant’s Rourkela facility, located in the state of Orissa.

Danieli Wean United to Provide New Skinpass Facility for Usiminas Cosipa

16 December 2008 - Danieli Wean United will supply a new Danieli skinpass mill and coil dividing line for Usiminas Cosipa’s No. 2 Hot Strip Mill Plant in Cubatão, São Paulo.

SMS Demag to Supply HCl Plant for ThyssenKrupp Steel USA

16 December 2008 - ABSTRACT: SMS Demag Process Technologies will supply the world’s largest hydrochloric acid regeneration plant for ThyssenKrupp Steel USA’s new integrated rolling mill in Calvert, Ala.

State of Finland Changes Holding in Outokumpu Oyj

15 December 2008 - The State of Finland transfers its holding in Outokumpu Oyj to its wholly-owned company Solidium Oy.

Stainless, Specialty Imports See Slight Dip in September 2008

15 December 2008 - ABSTRACT: Total stainless steel imports reached 595,648 tons through the first nine months of 2008, a 1.7% decrease from YTD September 2007, according to the latest report from SSINA. Total specialty imports reached 760,368 tons in the same period, a 0.3% decrease compared to YTD September 2007.

Finnish State Transfers Balance of Shareholding in Rautaruukki to Solidium Oy

15 December 2008 - The Finnish State transfers all its shares in Rautaruukki to Solidium Oy, so that it no longer has any shareholding in Rautaruukki Corp.