A BRITISH COMPANY WILL SPEND USD 97 MILLION ON IMPROVEMENTS AT THE SCUNTHORPE SITE In order to expand its product line and enhance operational and environmental performance, British Steel has started operations with GBP 80 million ($96.6 million). At the company's Scunthorpe locatio...
CANADA'S STEEL COMPANY HAS A GOOD YEAR IN FISCAL YEAR 2021-22 Algoma Steel Group Inc., a renowned Canadian producer of hot and cold rolled steel sheet and plate products, has released its fiscal year 2022 results. On a year-over-year basis, the company's consoli...
MALAYSIA: IN MAY 2022, STEEL BAR COSTS WILL RISE BY 20%. Following a rise in the price of building materials, the average price of steel bars jumped 20% to MYR 3,910 (USD 888) per ton in May 2022, from MYR 3,258 (USD 740) per ton the previous year, accordin...
IN KAPFENBERG, AN AUSTRIAN STEEL-BASED COMMISSIONS A SPECIFIC STEEL FACTORY At the Voestalpine location in Kapfenberg, the world's most sophisticated special steel mill will be gradually commissioned this summer, with full production starting in the fall. Despite an extremely...
IN 2022, GLOBAL STAINLESS STEEL OUTPUT IS EXPECTED TO INCREASE BY 4% In the first quarter of 2022, Chinese stainless steel output rebounded significantly. Following the Lunar New Year holidays and the Beijing Winter Olympics, supply chain players returned to the market...
STEEL FROM THE UNITED KINGDOM WILL START UP A NEW SLITTING LINE AT ITS HARTLEPOOL FACTORY. At its Hartlepool Tube Mill in the North East, ata Steel announced plans to invest more than GBP 7 million (USD 8.78 million) on a new slitting line. The new slitter will allow the plant to handle ste...
AS NEW VIRAL RESTRICTIONS THREATEN DEMAND, IRON ORE FUTURES FALL On continued concerns about demand in China, where fresh COVID-19 signals threaten to derail the economy's recovery and steel margins have come under pressure, iron ore prices dipped on Friday, with t...
KOREA' STEEL DEVELOPS HIGH-QUALITY ALLOY STEEL FOR ELECTRIC VEHICLES Hyundai Steel has created a high-quality alloy steel that minimizes noise from electric vehicles, according to the company. The steelmaking technique was created in collaboration with Hyundai Motor Gr...
INDIA STEEL COMPANY TO INVEST USD 270 MILLION IN PROJECTS TO EXPAND TINPLATE AND LONG STEEL T V Narendran, Tata Steel's global CEO and MD, said that the steel giant will spend over INR 2,100 crores (USD 270 million) in two of its firms, Tinplate Company India Ltd. (TCIL) and Indian Wire and ...
SLOW STEEL DEMAND CAUSES IRON ORE FUTURES TO SLIP On Tuesday, Asian benchmark iron ore futures fell as traders worried that high prices would squeeze steel mill profits after Chinese demand for the steelmaking material sparked an earlier gain. After ...
SPAIN STEEL COMPANY IN MERGER TALKS WITH DUTCH FIRM Spain's Acerinox and Dutch company Aperam are in preliminary talks about a possible merger, they said, a move that could create a global leader in stainless steel and Europe's biggest producer. Analys...
TO RESOLVE THE BRIBERY PROBE, A US STEEL MANUFACTURER WILL PAY USD 78 MILLION. Tenaris SA, a worldwide steel pipe maker, has agreed to pay USD 78.1 million to settle US investigations into allegations that it paid bribes to gain business from Brazil's state-owned oil major Petro...
