Steel News

Nucor Announces 168th Consecutive Cash Dividend

18 February 2015 - The board of directors of Nucor Corporation (NYSE: NUE) declared the regular quarterly cash dividend of $0.3725 per share on Nucor's common stock.

Cliffs Natural Resources Inc. Finalizes Energy Agreement in U.P. of Michigan

18 February 2015 - The Company Anticipates End to System Support Resource Payments for All Consumers

ArcelorMittal's Q4 Loss Narrows, Sees Lower FY15 Profit

17 February 2015 - Steel giant ArcelorMittal posted a loss in the fourth quarter of 2014 as lower iron-ore pricing weighed on its mining segment and it also saw reduced steel selling prices. Weak demand from China, a key market, continued to hurt iron ore prices in the quarter.

POSCO to Sell Stake in Construction Unit to Saudi Fund

17 February 2015 - South Korean steelmaker POSCO has signed a preliminary deal with Saudi Arabia's Public Investment Fund (PIF) to sell part of its construction unit for about 1.5 trillion won ($1.36 billion), Korea Economic Daily reported.

Wheelabrator’s New Concave Blades Cut Gordian Knot at Nucor Steel

17 February 2015 - Wheelabrator has introduced a new concave blade for its 35 EZEFIT blast wheel, which achieves a narrow blast pattern and a uniquely tight ‘hot spot’ at high abrasive speeds.

ANSYS Engineering Simulation Solutions Meeting Customer Needs At TimkenSteel

17 February 2015 - TimkenSteel (NYSE: TMST), a leading manufacturer of special bar quality (SBQ) large bars and seamless mechanical tubing, is leveraging the power of ANSYS (NASDAQ: ANSS) simulation to solve customers' engineering challenges.

Sandvik awarded ‘The Best Innovator’ of the year in Czech Republic

16 February 2015 - Sandvik in Chomutov, Czech Republic has been announced as the winner of the prestigious award Best Innovator of the year in the Czech Republic - recognition of the company's way of working with innovation.

Outokumpu’s Head of Business Area APAC Austin Lu Leaves the Company

16 February 2015 - Austin Lu, Outokumpu’s head of business area APAC and Outokumpu Leadership Team member has taken a new challenge outside the company, thereby leaving his position as of March 31, 2015.

Mechel Becomes Potential Rail Supplier for Germany's Railways

16 February 2015 - Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, reports that Chelyabinsk Metallurgical Plant won the status of a potential rail supplier to Germany's railway operator Deutsche Bahn AG, following a production audit.

Fives Selected for Five New High-End Automotive Steel Projects

13 February 2015 - Fives, an international engineering group which designs and supplies process technologies to various industries, has been awarded five new processing line contracts for the automotive steel market, making it in this field a dominant equipment provider to steelmakers.

MMK Carrying Out Large-Scale Blast Furnace Modernization

13 February 2015 - OJSC Magnitogorsk Iron and Steel Works (MMK) is carrying out technical upgrades to its blast furnace No. 8.

ArcelorMittal Ostrava Casts Unique Format of Round Billets for Tube Production

12 February 2015 - ArcelorMittal Ostrava has begun production of continuous cast billets with a unique small diameter of 130 mm.

MMK Reports Record Production at its Mill 2000

12 February 2015 - OJSC Magnitogorsk Iron and Steel Works’ (MMK) Mill 2000 has reached a record 5 million metric tons of total production of cold and galvanized rolled products.

General Steel Forms Joint Venture to Develop Internet-of-Things Solutions

11 February 2015 - General Steel Holdings, Inc., a leading non-state-owned steel producer in China, announced that the Company has reached a definitive agreement ("the Agreement") to form a joint venture with a team of radio-frequency identification ("RFID") experts (the "Expert Team"), to develop and commercialize RFID technology data solutions.

SSAB Receives EC Approval to Divest 50% of the Shares in Norsk Stål AS

11 February 2015 - SSAB has received approval from the European Commission to sell 50% of the shares in Norsk Stål AS (Norway) to Leif Hübert AS. This transaction is part of the divestment remedies that the European Commission deemed necessary for the combination of Rautaruukki with SSAB. The transaction is still subject to the approval of national competition authorities. This transaction has only a limited impact on SSAB’s financial results. SSAB has earlier divested Plannja Oy in Finland to Metehe Oy.

voestalpine Reports Significant Increase in Earnings After First Nine Months of the Business Year

11 February 2015 - Although the development of the global economy was very inconsistent in 2014 and, after a relatively optimistic start, was marked by an increasingly sober mood from the summer months onward, the steel-based technology and capital goods group voestalpine reported a significant increase in earnings in the first three quarters of the business year 2014/15 (April 1 to December 31, 2014).

Metalloinvest Enters Final Stage of Environmental Project at OEMK

11 February 2015 - Metalloinvest has begun the modernization of the second gas purification unit at its electric arc furnace shop at OEMK (part of Metalloinvest) in Russia.

Ovako Signs Agreement With SSAB to Acquire Tibnor Oy

10 February 2015 - Ovako has signed an agreement with SSAB to acquire steel and metals distributor Tibnor Oy in Finland. The deal has been approved by the European Commission and will now be examined by competition authorities in Finland and Estonia for final approval. The acquisition is expected to have a slightly positive impact on Ovako's operating profit and a slightly negative impact on cash flows for 2015.

Primetals Technologies Revamps Two Wire Rod Mills for China’s Zenith Steel

10 February 2015 - The upgrade increases rolling speed to 105 m/s. Expanded product line allows entry into fine grain rebar markets. Integrated solution includes electrical/automation revamp.

MMK to Maintain Production Volumes, Focus on Maximum Efficiency

10 February 2015 - OJSC Magnitogorsk Iron and Steel Works (MMK) plans to maintain production volumes over the next 10 years at approximately 12 million tonnes of metal annually at its key facility in Magnitogorsk, Russia.