Steel News

PTC Alliance Obtains Court Authority to Proceed with Sale Auction

16 March 2010 - PTC Alliance has obtained court approval to conduct an auction for the sale of substantially all of the company's assets in the U.S. and the stock of its non-debtor German subsidiary, Wiederholt GmbH.

Tenova Core Consteel® Startup at CMC Mesa

15 March 2010 - Commercial Metals Co. (CMC) has recently completed the successful startup of a new Consteel system designed and supplied by Tenova Core. The new CMC micro-mill plant located in Mesa, Ariz., is producing reinforcing bar.

Danieli Supplies Equipment for “Twin” Wire Rod Mills in China

15 March 2010 - Danieli is supplying key equipment and technology for two high-speed wire rod mills, each with a capacity of 750,000 tonnes per year, under construction at Shangdong Laigang Yongfeng Steel for production of engineering and special steel wire rod in coils.

CMC Anticipates Second Quarter Loss

15 March 2010 - Commercial Metals Co. is estimating it will record a net loss between $170 and $180 million ($1.50 to $1.60 per share) for the quarter ended February 28, 2010.

Outokumpu Restarts Operations in Röyttä Harbor in Tornio

15 March 2010 - Outokumpu announced on March 12 that the operations in Röyttä harbor in Tornio, Finland, have been restarted despite the stevedores strike. The loading and unloading of ships is being carried out with the help of subcontractors.

Baosteel Completes First Export Contract for Cold-rolled Stainless Steel

15 March 2010 - Coordinated by Baosteel Co., Ltd. Stainless Steel Business Unit and Baosteel America Inc., more than 120 tonnes of 304 stainless steel produced by the Baosteel Stainless Steel Cold Rolling Project mill that was recently put into production were shipped to the U.S. on March 7.

Danieli to Supply Equipment to Jianlong Group, Stefana Montirone

12 March 2010 - Jianlong Group Co., Ltd. has contracted Danieli CentroMet / Danieli Changshu Metallurgical Equipment and Service Co., Ltd. to supply a new conticaster for large-size rounds to be installed in its Chengde steel plant. Stefana Spa has also contracted Danieli for the supply of a FastCast CCM for production of billets, to be installed in its Montirone steelworks.

Steel Dynamics to Offer $300 Million in Notes

12 March 2010 - Steel Dynamics announces plans to sell approximately $300 million in aggregate principal amount of debt securities in a transaction exempt from the registration requirements of the Securities Act of 1933.

Magazine Names MMK-Atakas Finan?ing “The Deal of the Year”

12 March 2010 - MMK-Atakas project financing was selected by Trade Finance magazine as “The Deal of the Year.” According to the magazine, OJSC MMK put together a ground-breaking deal to secure financing for the MMK-Atakas flat steel making plant in Turkey.

SinoCoking Commences Construction of New Coking Facility

12 March 2010 - SinoCoking Coal and Coke Chemical Industries, Inc. recently broke ground on the construction of its new coking facility in Pingdingshan city, in Henan Province, China. The facility will have an anticipated maximum annual production capacity of 900,000 tonnes of coke.

Siemens Supplies Equipment for Handan Bar and Wire Rod Mills

12 March 2010 - Siemens VAI Metals Technologies has received an order from Handan Iron & Steel Co. to supply mechanical equipment for a bar mill and a mill train for the wire rod mill. The project is scheduled to be completed by late 2010.

Mechel Announces Accident at Its Chelyabinsk Metallurgical Plant

12 March 2010 - Mechel OAO halts production at the Chelyabinsk Metallurgical Plant Coke Shop #2 following a fatal gas explosion on Thursday, March 11.

Outokumpu Duplex Pipes Used by Metso for Pilot Paper Machine

11 March 2010 - Outokumpu has introduced a new comprehensive system of duplex pipes and fittings, called Outokumpu Duralite™ Piping System, to serve customers in a range of applications. Metso chose Duralite pipes in the lean duplex grade LDX 2101® to rebuild a pilot paper machine.

December Steel Shipments Up 11.3% from Previous Month

11 March 2010 - U.S. steel mills shipped 6,035,000 net tons for the month of December 2009, an 11.3% increase from the previous month’s shipments according to the latest report from AISI.

Ruukki Offers Strong, Weather-Resistant Structural Steel

11 March 2010 - Ruukki is launching Optim 960 QCW structural steel, a new grade that combines high strength and weather resistance. Optim 960 QCW is made using a direct quenching process developed by Ruukki and is suitable for applications such as containers, cranes, and booms.

Cliffs Elects New Board Member

11 March 2010 - Cliffs Natural Resources Inc.’s Board of Directors has elected James F. Kirsch as a director. Kirsch also currently serves as Chairman, President, and Chief Executive Officer of Ferro Corp.

Siemens Replaces LD Converters at CSN

11 March 2010 - Companhia Siderúrgica Nacional (CSN) has placed an order with Siemens for the replacement of two LD converters at its Volta Redonda location. Turnkey delivery of the converters is planned during the summer of 2011 and at the end of 2012, respectively.

Mechel, Gazprombank Amend Credit Facility Agreements

10 March 2010 - Mechel OAO announces prolongation of credit facilities for its subsidiaries obtained earlier from Gazprombank. According to the amendment agreements, the credit maturity extends from three years to six years.

ArcelorMittal USA Again Receives Energy Star Honor

10 March 2010 - ArcelorMittal USA was recently selected, for the third consecutive year, as a 2010 Energy Star® Sustained Excellence Award winner for Energy Management, awarded annually by the U.S. Environmental Protection Agency and the U.S. Department of Energy.

Posco Completes Corporate Restructuring

10 March 2010 - Posco has created the Growth Investment division, integrated the Marketing and Production divisions, and established the new post of Chief Technology Officer to increase the synergy on technology independence and development.