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ArcelorMittal and BHP drop plan to combine iron operations |
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Inserted on 09 09 2010 by dimaggio. EN - International news
Site URL : www.canadianbusiness.com
ArcelorMittal and BHP drop plan to combine iron operations in Liberia and Guinea.
ArcelorMittal SA, the world's largest steel maker, and miner BHP Billiton Ltd. say they have ended talks about combining their iron ore mining operations in Liberia and Guinea.
The companies said in a statement on Wednesday that they had been unable to reach a commercial agreement.
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China steel output up in Aug, but pace eases |
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Inserted on 08 09 2010 by dimaggio. EN - International news
Site URL : af.reuters.com
China steel output up in Aug, but pace eases.
Chinese steel production remained high in August, but could slow in September after several provinces ordered steel mills to limit production.
China produced 1.7 million tonnes per day of crude steel in August, data from the China Iron & Steel Association showed, higher than an average 1.66 million tonnes per day in July.
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Steelmaker Corus to invest £185m in Britain |
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Inserted on 06 09 2010 by dimaggio. EN - International news
Site URL : www.dailymail.co.uk
Corus is to invest £185m in its Welsh steelworks at Port Talbot.
Indian-owned steel-maker Corus is pumping £185m into its Port Talbot plant, which should safeguard the future of steel-making in south Wales for 20 years.
The former British Steel - bought by India’s Tata for £6.2bn in 2007 - said it would rebuild one of two blast furnaces at the Port Talbot steelworks, which employs 5,000 people.
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Power-usage restrictions in China will trim steel capacity and boost prices |
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Inserted on 03 09 2010 by dimaggio. EN - International news
Site URL : Bloomberg
Power-usage restrictions in China will trim steel capacity and boost prices.
Power restrictions by local governments in China, the biggest steelmaking nation, may lead to the suspension of 25 million metric tons of annual steel capacity, helping boost prices, Credit Suisse Group AG said.
Disruption to steel production has started as local governments rush to meet year-end power efficiency targets, Trina Chen, a Credit Suisse analyst, said in a note.
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Posco completes takeover of Daewoo International |
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Inserted on 31 08 2010 by dimaggio. EN - International news
Site URL : joongangdaily.joins.com
Posco completes takeover of Daewoo International.
Posco, Korea’s leading steelmaker, concluded its purchase of Daewoo International Corp., the nation’s leading trading company, from the Korea Asset Management Corp. and other creditors in a 3.37 trillion won ($2.8 billion) deal.
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Steel, iron, and chrome ore prices to rise |
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Inserted on 28 08 2010 by dimaggio. EN - International news
Site URL : Wsj
Steel, iron, and chrome ore prices to rise.
The recovery in industrial activities in US, EU, China, Japan, India, Russia and Brazil is good news for the steel, iron and chrome ore sector. This is also evident from the increase in steel production from the lows of last year.
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Zimbabwe government renews search for strategic partner in steel venture |
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Inserted on 27 08 2010 by dimaggio. EN - International news
Site URL : Voanews
Zimbabwe government renews search for strategic partner in steel venture.
Industry Minister Welshman Ncube said Zimbabwe does not see multinational corporations as appropriate partners for the restructuring of state-controlled enterprises such as ZiscoSteel.
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POSCO chief proposes Korea-China-Japan steel committee |
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Inserted on 25 08 2010 by dimaggio. EN - International news
Site URL : www.koreaherald.com
POSCO chief proposes Korea-China-Japan steel committee.
Chung Joon-yang, the chief executive of the world’s fourth largest steelmaker POSCO, proposed on Monday that a committee representing the steel industries of South Korea, China and Japan should be established to tackle issues such as rising materials costs.
Speaking at the Asia Steel Forum in Seoul, Chung proposed the establishment of such a committee under the guidelines of steel industry associations of each nation.
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Further price fall in base metals & steel unlikely in near future |
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Inserted on 23 08 2010 by dimaggio. EN - International news
Site URL : Indiatimes
Further price fall in base metals & steel unlikely in near future.
Prices of base metals and steel have been increasing for quite some time now. However, there is a sharp surge in these metal prices in the current quarter compared with the June 2010 quarter. At 22.5%, zinc prices have increased the fastest on LME (London Metal Exchange). Prices of copper, aluminium, and steel have risen by 16%, 12% and 15.4%, respectively.
China, the world’s biggest aluminium and steel consumer, may see a relatively slow growth in its economy this year but it is still expected to grow 9% annually.
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Global steel production almost back to pre-crisis levels |
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Inserted on 20 08 2010 by dimaggio. EN - International news
Site URL : www.engineeringnews.co.za
Global steel production almost back to pre-crisis levels.
World steel production increased by 9,6% year-on-year last month to 114,8-million tons, and is now only 2,1% below pre-economic crisis levels, the World Steel Association reported.
The association said that while most Asian and Middle Eastern countries actually showed higher production numbers than before the impact of the crisis was felt, the US, Japan and producing countries in EU and Africa were still not back to pre-crisis production levels.
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Corus strengthens UK steel industry with £185 million investment |
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Inserted on 17 08 2010 by dimaggio. EN - International news
Site URL : Domain-b
Corus strengthens UK steel industry with £185 million investment at Port Talbot.
Corus, the European arm of Tata Steel said that it will invest £185 million to rebuild a blast furnace at Port Talbot steelworks in South Wales, a move that will secure the British steel industry.
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Steel maker Timken Co. invests $50 million in Ohio |
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Inserted on 13 08 2010 by dimaggio. EN - International news
Site URL : Businessweek
Steel maker Timken Co. invests $50 million in Ohio.
Bearings and specialty steel maker Timken Co. said Thursday it will invest $50 million in its steel operations in Canton, Ohio, to help keep up with increasing demand.
The money will pay for installation of a new intermediate finishing line at the Gambrinus Steel Plant, which will improve efficiency and incorporate new technologies and processes. The line is expected to be fully operational in 2013.
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India is looking at new technologies to produce steel |
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Inserted on 11 08 2010 by dimaggio. EN - International news
Site URL : www.moneycontrol.com
Steel technology: India has new aspirations.
The 23-feet-high Ashoka Pillar inside Delhi’s historic Qutub Minar complex has, over the years, fascinated tourists and metallurgists. The tourists pose beside it. The technically inclined touch it with awe and respect. For the 1,600 year-old Pillar is testimony to the metallurgical skills of India’s earliest steelmakers.
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Posco joins Indonesian steelmaker to build mill |
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Inserted on 06 08 2010 by dimaggio. EN - International news
Site URL : Indiatimes
POSCO in joint venture with Indonesian steelmaker.
South Korea's largest steelmaker POSCO said it signed an agreement with Indonesia's Krakatau Steel to set up a joint venture in the Southeast Asian country.
The steel mill will be built at Cilegon in West Java in two phases. When the first phase is completed by 2013, it will have an annual capacity of three million tons.
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Slowdown in China cools global commodity prices |
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Inserted on 04 08 2010 by staff. EN - International news
Site URL : Business-standard
Slowdown in China cools global commodity prices.
Global commodity prices have begun to soften as China’s economic juggernaut slows. The prices of steel, zinc and aluminium have fallen in the past three months. China’s manufacturing sector growth rate has dropped to February 2009 levels, when global markets had just bottomed out after the Lehman impact.
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A weak outlook for steel makers |
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Inserted on 02 08 2010 by staff. EN - International news
Site URL : Nytimes
A weak outlook for steel makers.
Steel makers painted a gloomy picture for the short-term prospects of the industry on Tuesday, saying global prices had fallen and industrial demand was not recovering as quickly as expected.
The negative outlook from Japan to North America sent steel makers’ shares tumbling.
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LME creates single steel billet contract for global industry |
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Inserted on 29 07 2010 by dimaggio. EN - International news
Site URL : www.platts.com
LME merges regional steel billet contracts into global contract.
The London Metal Exchange said in a statement Wednesday it has completed the merger of its Mediterranean and Far East steel billet contracts into a single global one. To support this move, the LME said that it will increase the number of storage facilities and delivery locations, and that it is considering several additional locations in Europe and the US.
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China. Profits of 77 major steelmakers down 40% |
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Inserted on 27 07 2010 by staff. EN - International news
Site URL : www.capitalvue.com
China. Profits Of 77 Major Steelmakers Down 40%.
A total of 77 major steelmakers recorded profits of 6.25 billion yuan in June, a decrease of 40 percent month-on-month, reports 163.com, citing an insider from the China Iron and Steel Industry Association.
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Vietnam. World costs push up domestic steel prices |
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Inserted on 26 07 2010 by staff. EN - International news
Site URL : vietnamnews.vnagency.com.vn
Vietnam. World costs push up domestic steel prices.
Steel prices have begun rising again in the Vietnamese domestic market, according to the Viet Nam Steel Association (VSA).
The prices rose by VND100,000 (US$5) to VND500,000 ($25) per tonne since early May to betweenVND12.2 ($642) and VND12.8 million ($673) at present, VSA said.
VSA deputy chairman Nguyen Tien Nghi attributed the increase to higher steel ingot and used steel prices in the world market.
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Russian steel makers fail to move to long-term contracts |
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Inserted on 24 07 2010 by staff. EN - International news
Site URL : Rian
Russian steel makers fail to move to long-term contracts.
Russian steel makers have not fully complied with instructions given by Prime Minister Vladimir Putin to move to long-term contracts with consumers due to a fall in metals prices since May, Kommersant business daily said on Friday.
Putin called for the shift to long-term contracts following a series of complaints made by Russian Railways, various automakers and other major consumers about unreasonably high prices.
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Increased Brazilian steel demand to impact world supply |
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Inserted on 23 07 2010 by staff. EN - International news
Site URL : www.businesswire.com
Increased Brazilian steel demand to impact world supply.
Speaking at the Latin American Iron & Steel Trends conference in Rio de Janeiro, Brazil, Majestic Steel USA Research Manager Josh Spoores said increased domestic demand for steel will turn Brazil from a net exporter of finished steel into a net importer during the next three to five years. This change has the potential to create rapid price increases on the global market.
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Russian steel output jumps 20.6 percent in first half |
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Inserted on 22 07 2010 by staff. EN - International news
Site URL : www.breakbulk.com
Russian steel output jumps 20.6 percent in first half.
The Russian Federation's Federal State Statistics Service reported that Russia produced 28.4 million metric tons of finished steel products during the first half of 2010; up 20.6 percent from the same period last year. Russia also produced 4.3 million metric tons of steel pipes; up 43.1 percent, and 24.2 million metric tons of pig iron; up 23.2 percent, all compared to the first half of 2009.
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Russian MMK drops plans to build plant in U.S |
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Inserted on 21 07 2010 by dimaggio. EN - International news
Site URL : english.cri.cn
Russian steel giant drops plans to build plant in U.S.
Russia's steel giant Magnitigorsk Iron and Steel Works (MMK) had dropped its plans to build a steel plant in the United States, Kommersant business daily reported Tuesday.
MMK did not believe U.S. steel demand was recovering, the report said.
"European governments are cutting budgets, closing different infrastructure and social projects to tackle the budget deficit," said the MMK Vice-President Oleg Fedonin.
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World Steel in Figures |
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Inserted on 20 07 2010 by dimaggio. EN - International news
Site URL : Worldsteel
World Steel in Figures.
The World Steel Association has published the 2010 edition of World Steel in Figures. It is now available on worldsteel.org.
World Steel in Figures provides essential facts and statistics about the global steel industry. The book contains comprehensive information on crude steel production, apparent steel use, pig iron production, steel trade, iron ore production and trade, and scrap trade.
An update of the sustainability indicators of the world steel industry has also been included in the publication this year.
World Steel in Figures lists the top steel-producing countries and worldsteel member companies. In 2009 the five major steel producing countries were:
1. China - 567.8 mmt
2. Japan - 87.5 mmt
3. India - 62.8 mmt
4. Russia - 60.0 mmt
5. United States - 58.2 mmt
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USA. AISI opposes electric utility cap-and-trade proposals |
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Inserted on 17 07 2010 by dimaggio. EN - International news
Site URL : www.steel.org
USA. AISI opposes electric utility cap-and-trade proposals.
Would threaten international competitiveness of American steel industry.
The American Iron and Steel Institute (AISI) expressed its opposition to proposals for a cap-and-trade program directly regulating the electric utility sector because such legislation will have a substantially negative impact on the international competitiveness of the steel industry.
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Four Chinese steelmakers agree to merge |
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Inserted on 15 07 2010 by dimaggio. EN - International news
Site URL : Wsj
Four Chinese steelmakers agree to merge.
Four Chinese steelmakers based in the growing port city of Tianjin agreed to combine forces Tuesday and create a business that will be among China's top 10 steelmakers by production.
The new company, called Tianjin Bohai Iron & Steel Group Corp., comprises the operations of Tianjin Pipe (Group) Corp., Tianjin Iron & Steel Group, Tianjin Tiantie Metallurgy Group and Tianjin Metallurgy Group Co., the municipal government said in a statement posted on its website Wednesday.
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China. Market expects steel prices to slide further in August |
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Inserted on 14 07 2010 by dimaggio. EN - International news
Site URL : www.istockanalyst.com
China. Market expects steel prices to slide further in August.
Chinese steel market participants generally forecast a further decline in steel prices for August. Large-scale steelmakers are expected to cut prices, as steel plants are receiving fewer orders while production still remains high.
Rumors going on Friday were that the Baosteel Group would cut its August producer prices for hot-rolled, pickling, and ordinary cold-rolled sheets and coils by 300 yuan a metric ton (tonne), and cut prices for thick plates by 600 yuan/tonne.
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