Steel News

Nippon Steel Acquires Interests in Foxleigh Coal Mine

06 August 2010 - Nippon Steel Corp. has acquired from Itochu Corp. the whole of 10% interests in the Foxleigh Coal Mine joint venture in Queensland, Australia, held through its Australian subsidiary.

ArcelorMittal Dofasco Develops New Ultra-Low Carbon Steel Technology

06 August 2010 - ArcelorMittal has unveiled a new ultra-low carbon production technology at its Dofasco plant in Hamilton, Canada, that will allow the production of more advanced grades of automotive steel. The technology was recognized with the Leadership and Innovation Award as part of the Group's Performance Excellence Awards.

Steel Import Permits Increase 15% in July

05 August 2010 - Steel import permit applications reached a total of 2,323,000 net tons for the month of July, a 15% increase from the 2,023,000 permit tons recorded in June and a 17% increase from the June preliminary imports total, according to the latest report from AISI.

Olympic Steel Elects New Board Member

05 August 2010 - Olympic Steel, Inc.’s Board of Directors has elected the Honorable Dirk A. Kempthorne as a Director, effective immediately. Governor Kempthorne will also serve on the Nominating Committee of the Board.

Siemens Slab Caster Starts Up at Qinhuangdao Shouqin

05 August 2010 - A slab caster capable of casting slabs in thicknesses up to 400 mm was recently started up at the steelworks of the Qinhuangdao Shouqin Metal Material Co., Ltd. in China. Siemens VAI received the order in June 2008 for a straight-mold, vertical-bending-type slab caster capable of casting up to 1.1 million tonnes of steel per year.

SSAB Reports Second Quarter 2010 Results

05 August 2010 - SSAB reported that second quarter 2010 sales increased by 66% to SEK 10,911 million, compared to SEK 6,583 million for the same period last year. An operating profit of SEK 708 million is a significant improvement over last year’s operating loss of SEK 952 million.

NLMK Group Q2 2010 RAS Financial Results

05 August 2010 - Novolipetsk Steel has announced its Q2 2010 Russian Accounting Standards (RAS) financial results for its major companies. Revenue for the Lipetsk production site increased by 33% quarter-on-quarter and 75% year-on-year, mainly as a result of higher prices and seasonal improvement in demand.

Samuel Manu-Tech Reports Q2 2010 Results

04 August 2010 - Samuel Manu-Tech Inc. reported sales of $184.9 million for the three months ended June 30, 2010, an increase of 17.3% compared to Q2 2009 due to higher volumes and selling prices partially offset by the negative impact of the stronger Canadian dollar on U.S.-based sales.

Rio Tinto Further Invests in Pilbara Capacity Expansion

04 August 2010 - Rio Tinto is to invest an additional US$790 million in its effort to expand the annual capacity of iron ore operations in the Pilbara to 330 million tonnes, bringing total investment funds approved in recent weeks to US$1 billion.

ArcelorMittal Announces Bond Issue Pricing

04 August 2010 - ArcelorMittal completes pricing of two series of U.S. dollar denominated notes, consisting of USD 1 billion aggregate principal amount of its 3.75% Notes due 2015, USD 1 billion aggregate principal amount of its 5.25% Notes due 2020, and a reopening of its 7% Notes due 2039 for USD 500 million aggregate principal amount.

ArcelorMittal Reveals Excellence Award Winners

04 August 2010 - ArcelorMittal has announced the winners of its annual Performance Excellence Awards for the 2009 financial year. Encompassing six categories, the awards were established in 2007 to celebrate excellence and innovation across the ArcelorMittal Group.

Kocks to Supply 3-roll Reducing & Sizing Block for Xuanhua Bar Mill

04 August 2010 - Xuanhua Iron & Steel has placed an order with Friedrich Kocks GmbH & Co for the supply of a 3-roll Reducing & Sizing Block for the facility’s small bar mill, one of five new rolling mills currently under construction.

ArcelorMittal Kryviy Rih Appoints New CEO

03 August 2010 - ArcelorMittal has appointed Rinat Starkov as the new CEO of OJSC ArcelorMittal Kryviy Rih, replacing Jean Jouet.

Cliffs Closes Acquisition of INR Energy’s Coal Operations

03 August 2010 - Cliffs Natural Resources Inc. has closed on its previously announced acquisition of INR Energy, LLC’s coal operations in southern West Virginia. The transaction will increase Cliffs’ global coal production capacity to more than 9 million tons in 2011.

Rio Tinto to Invest for Next Stage of Simandou Iron Ore Project

03 August 2010 - Rio Tinto has approved US$170 million of further funding for the next stage of developing its Simandou iron ore project in Guinea, including mine, rail, and port infrastructure work. The investment takes effect immediately.

Universal Stainless Reaches Early Labor Agreement with Titusville Employees

03 August 2010 - Universal Stainless & Alloy Products, Inc. has reached a new five-year collective bargaining agreement effective October 1, 2010, with the Titusville, Pa., hourly employees represented by Local 7312-03 of the USW.

AK Steel Announces Carbon Steel Price Increase, September Surcharges

03 August 2010 - AK Steel is increasing current spot market base prices by $40 per ton, effective immediately with all new orders for carbon steel products. The company also announced that it would be adding a $350 per ton surcharge for electrical steel products shipped in September 2010.

Air Liquide Expands Partnership with Severstal

02 August 2010 - The Air Liquide Group has signed a new contract with Severstal for outsourcing of industrial gases in Cherepovets. Production capacity of the new Air Separation Unit, which is scheduled to start-up at the end of 2012, will reach 2000 tonnes per day of gaseous oxygen.

Vallourec Plans to Expand Plant in China

02 August 2010 - Vallourec plans to expand its V & M Changzhou plant in China, enabling the production of 60,000 tonnes of seamless pipes per year to serve the local demand for power plants. Operations are expected to begin by mid-2012.

Evraz to Implement Coal Injection at its Russian Blast Furnaces

02 August 2010 - Evraz Group has begun to implement Pulverized Coal Injection technology in the production of pig iron at its Russian steel mills Zapsib and NTMK.