Steel News

Deadline Nearing for Sale of Tata Steel Europe Long Products Business

11 March 2016 - Talks between investment firm Greybull Capital and Tata Steel over the sale of its European long products business are continuing, but the steelmaker is sticking to a self-imposed deadline to strike a deal, reports the U.K.’s Mirror tabloid.

Workers Vote Down Arrium Request for Pay Concessions

10 March 2016 - Approximately 400 unionized iron ore miners at Australia’s Arrium have rejected the company’s request for wage concessions, saying they won’t agree to it until the company provides a clear financial plan for continuing operations, according to Australian broadcaster ABC.

China's Planned Capacity Cuts Aren't Enough, says Veteran Steelmaker

10 March 2016 - China’s plan to shutter 100 million to 150 million metric tons of steelmaking capacity won’t be enough to restore balance to the sector, Zhang Wuzong, chairman of privately owned Shandong Shiheng Special Steel Group told, the Reuters news service.

Harsco Wins Extended Agreement With Stainless Manufacturer

10 March 2016 - Mill services provider Harsco Corp. has won a five-year contract extension at a Belgian stainless mill, the company has announced.

China Intends to Idle More than 200 Mills in its Steelmaking Center

09 March 2016 - The Hebei province, China's steelmaking heartland, will close 60 percent of its steel mills by 2020 as part of the country's effort to curb excess capacity, reports Chinese business and finance magazine Caixin.

Paul Wurth Wins Order for Blast Furnace Charging System

09 March 2016 - South Korea’s POSCO has ordered a new charging system for the No. 3 blast furnace at its Pohang works, according to the vendor on the project.

Primetals Awarded Contract for Caster Modernization

08 March 2016 - Italian steelmaker Acciaierie Valbruna S.p.a. plans to modernize the three-strand continuous billet caster at its Bolzano plant, according to the vendor on the project.

EUROFER: U.S. Duties on Cold Rolled Steel Will 'Re-establish' Level Playing Field

07 March 2016 - The U.S. Commerce Department’s preliminary imposition of a 266 percent duty on Chinese-made cold rolled steel will “re-establish” a level playing field. The European Union would do well to take note, said European Steel Association director general Axel Eggert.

ArcelorMittal CEO Sees Improvement on the Horizon

07 March 2016 - There’s finally some light at the end of the tunnel, ArcelorMittal’s chief executive told The (London) Financial Times.

Serbia Puts Nationalized Mill on Sales Block

04 March 2016 - The Serbian government is looking to sell a steel mill that it acquired -- for $1 -- from United States Steel Corporation in 2012, reports the Reuters news service.

NLMK Announces 2018 Blast Furnace Rebuild

04 March 2016 - Russia’s NLMK said it will spend US$104.4 million (RUB 7.5 billion) to rebuild the No. 6 blast furnace at its Lipetsk works.

India Considers Additional Support for Steel Industry

02 March 2016 - India’s steel ministry is weighing the feasibility of bailing out indebted local metal producers, reports BloombergBusiness.

Thyssenkrupp Reveals Plans for New Auto Components Plant

01 March 2016 - thyssenkrupp plans to invest EUR100 million in a new automotive components plant in Hungary, the company has announced.

China Looks to Cut Nearly 2 Million Steel, Coal Jobs

29 February 2016 - Chinese officials said the country expects to eliminate 500,000 steelmaking jobs and 1.3 million coal mining jobs as it attempts to reduce capacity, according to reports.

Gerdau Attorney: 'There Was No Tax Evasion'

26 February 2016 - Federal authorities questioned Gerdau SA chief executive André Gerdau Johannpeter for about two hours Thursday as part of an investigation into a suspected tax evasion scheme, The Wall Street Journal reported.

Police Search Gerdau Offices; CEO Summoned for Questioning in Widening Tax Evasion Probe

25 February 2016 - Brazilian federal police have raided Gerdau SA headquarters and other offices in the country and summoned chief executive Andre Gerdau Johannpeter to testify as part of an investigation into a bribery and tax dodging scheme, according to reports.