Steel News

Outokumpu Unveils New Vision, Prodcts and Pricing Model; Comments on Its Strategy Progress

22 May 2013 - At Outokumpu Experience, the company’s global event in London for customers, partners and analysts, Outokumpu launched its latest addition to the duplex product family, the FDX platform, introduced a new pricing model and commented on its strategy progress and the Terni divestment process.

Severstal CEO Awarded for Contribution to Latvian Economic Advancement

22 May 2013 - Alexey Mordashov, CEO of OAO Severstal, has been awarded with the Cross of Recognition, Degree III, which is one of Latvia’s highest honors, in recognition of his contribution to Latvia’s economic development.

Sandvik Materials Technology Appoints New Head of Product Area Tube

22 May 2013 - Sandvik Materials Technology has appointed Michael Andersson as the new head of Product Area Tube.

Evraz Returns to Black as Q1 Sales Rise

22 May 2013 - Evraz Highveld Steel and Vanadium reported a return to profitability as it delivered a first quarter profit after suffering significant losses during the first and fourth quarters of 2012.

Baosteel Profit Up 33% to RMB 1.6 Billion in Q1

22 May 2013 - Shanghai Baoshan Iron and Steel Co. (Baosteel) reported a net profit of RMB 1.628 billion (US$262.15 million) for Q1 2013, up 33.3% from a year earlier.

New Comprehensive Spray Technology Catalog Available from Spraying Systems Co.

21 May 2013 - A new publication featuring hydraulic spray nozzles and a detailed technical reference section is now available from Spraying Systems Co. Industrial Hydraulic Spray Products Catalog 75 provides educational information on spray technology and technical data on thousands of full cone, flat spray, hollow cone and fine spray nozzles.

Abengoa Obtains Required Consent to Proceed with Befesa Sale

21 May 2013 - Abengoa announced that the required authorizations, undertaken with Befesa's bondholders in order to facilitate the sale of Befesa Medioambiente to funds advised by Triton Partners, were successful.

Baosteel to Cut Capacity by 30% in Shanghai

21 May 2013 - Baosteel Group Corp has started piling work for the No. 1 blast furnace of its Guangdong-based Zhanjiang plant, seen as a "key battlefield" as it bids to cut 30% of its capacity in Shanghai.

JSW Ispat Reports Rs 159.33 Crore Net Profit in Q4

21 May 2013 - Helped by deferred tax benefits of Rs 159.33 crore, JSW Ispat Steel, an associate firm of JSW Steel, today reported a standalone net profit of Rs 94.16 crore for the fourth quarter ended March 2013.

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.