Metallurgy news
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Tata Steel is still negotiating revival package with UK governmentTata Steel Chairman N. Chandrasekaran, speaking at the 113th annual general meeting of the company, said that “Tata Steel UK is not profitable and continues to be a burden, so we are negotiating with the UK government. The negotiations are not over yet and that's all I can tell you at the moment…
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Baowu will become the largest steel producer in the world by purchasing 51% of Taiyuan Iron & Steel CoChina's largest steel producer China Baowu Steel Group has announced the acquisition of a 51 percent stake in Taiyuan Iron & Steel (Group) Co Ltd for RMB 14.5 billion (US $ 2.1 billion), bringing the total crude oil production capacity steel will increase to 111 million tons per year. ... The…
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Liberty Steel expects additional acquisitions in IndiaUK-based Liberty Steel has announced plans for additional acquisitions in India. This is based on his assumption that the country's economy is likely to witness tremendous growth as it comes with the aftermath of the long-term lockdowns caused by the Covid-19 pandemic. It should be noted that the…
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Mexico extends compensation quota for Chinese steel barsMexico's Ministry of Economy (SE) has increased the offset quota for imported carbon steel joints, known as fittings, coming from China, Callanish said from the country's official gazette. The product is classified under the TN VED code 7307.93.01. On August 19, SE announced that the trade measures…
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POSCO succeeds in mass production of environmentally friendly steelPOSCO announced that it was the first in the world to develop and begin mass production of an environmentally friendly, graphite-free cutting steel called PosGRAM (GRAphitic Steel for Machinability). POSCO's PosGRAM is expected to increase the competitiveness of the national industry as it replaces…
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Vietnam denies Indonesia's findings on anti-dumping investigation of steel sheetsThe Trade Funds Authority of the Vietnamese Ministry of Industry and Trade (TRAV) recently sent a letter refuting Indonesia's draft anti-dumping investigation findings on color-coated steel sheets imported from Vietnam and China. In the draft conclusions announced by the Indonesian Anti-Dumping…
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Fortescue Reimagines Expansion That Threatens Australia's Sacred SiteAustralian iron ore producer Fortescue Metals Group said Friday it will reconsider an expansion plan at one of its iron ore mines in the Pilbara region after an indigenous group said the project threatens sacred sites, including 60,000 people. summer stone shelter. Fortescue's decision came after…
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Korea's POSCO sets up a joint venture for a new Indian steel millKorea Iron and Steel Works Posco announced the formation of a Joint Working Group (JWG) with state-owned Rashtriya Ispat Nigam Limited (RINL) to open a new Greenfield steel plant in Visakhapatnam, South India. The two companies signed an initial investment agreement of approximately Rs 35,000…
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Tata Steel Jamshedpur will switch to 12-hour shiftTata Steel's Jamshedpur plant, which pioneered an eight-hour shift for workers in the country, will switch to an extended 12-hour schedule later this month to contain the spread of Covid-19. The company has received approval from the Jharkhand government authorizing the change, which requires a…
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BlueScope may close New Zealand steel plantAustralian steelmaker BlueScope reported A $ 96.5 million ($ 69.79 million) net profit for the fiscal year 2019-2020 to June 2020, down 91% from a year earlier. This includes a cashless A $ 197 million write-off for the New Zealand and Pacific Islands segment. Underlying net income was AU $ 353…
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