Steel News

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.

Russula to Upgrade Special Metals Co. Rolling Mill

21 May 2013 - Russula has been selected by Special Metals Company, a PCC company, to upgrade the automation system and drives for its Huntington, W.Va., wire mill.

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.

Kobe Steel, U. S. Steel Announce Commercial Production Begins at PRO-TEC CAL Joint Venture

20 May 2013 - Kobe Steel and U. S. Steel announced that the continuous annealing line at their joint venture, PRO-TEC Coating, has commenced commercial production of advanced high-strength steel sheet for automobiles.

MORE to Supply Severstal Columbus with Pneumatic Lime/Dolo-Lime Injection System

20 May 2013 - Severstal Columbus, located in Columbus, Miss., has placed an order with MORE srl (Gemona Del Friuli -Italy) to supply a new pneumatic lime/dolo-lime injection system for its two 165-ton electric arc furnaces.

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.

Severstal North America Announces Executive Leadership Changes

20 May 2013 - Severstal North America announced that effective 1 June Ronald Kostyo is appointed vice president and general manager, Severstal Dearborn; effective 10 June Madhu Ranade is appointed vice president and general manager, Severstal Columbus; and effective immediately Michael Tuomey will serve as interim chief financial officer.

AK Steel's Coshocton Works Recognized for Outstanding Safety Performance

20 May 2013 - AK Steel's (NYSE: AKS) Coshocton (Ohio) Works has been recognized for outstanding safety performance by the Ohio Bureau of Workers' Compensation, Division of Safety and Hygiene.

AK Steel Joint Venture Completes $375 Million Financing For New Iron Ore Pellet Plant

20 May 2013 - AK Steel said today that Magnetation LLC ("Magnetation"), its joint venture with Magnetation, Inc., has successfully completed a $325 million senior secured note offering and has entered into a $50 million senior secured credit facility.

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.