Metallurgy news

• Barrett Steel expands in Ireland Barrett Steel marks further expansion with the launch of a new subsidiary in Ireland. The company opens its engineering department, Barrett Engineering Steel, to develop and manufacture a range of engineering steels and alloys from its Maghaberry business unit. The company has already achieved... 29.04.2014  10:57

• EU economy is gaining momentum The forecast of the Economic Committee of the European Steel Association EUROFER confirms that the EU economy, including the metallurgical sector, is well on its way to recovery, providing evidence of an improvement in its economic foundations and productivity compared to the recent past.... 29.04.2014  09:58

• ArcelorMittal and Saarstahl accused of collusion in setting prices Deutsche Bahn said several lawsuits have been filed against a number of metallurgical companies, including ArcelorMittal and Saarstahl, which damaged the German rail operator. Deutsche Bahn claims that its losses were caused by fixing excessively high prices for railroad ties. “The companies i... 29.04.2014  09:21

• Strong euro becomes a cause for concern for metallurgists - EUROFER The euro has remained remarkably stable this year, showing only limited volatility against the US dollar and other foreign currencies. The recorded fluctuations in the euro exchange rate are mainly associated with monetary policy trends in the Eurozone and countries such as the United States and... 28.04.2014  19:00

• Siemens will sell VAI Metals Technologies The German company Siemens is going to sell a majority stake in its VAI Metals Technologies division to the Japanese company Mitsubishi Heavy Industries, the Austrian newspaper reported citing industry experts. Within Siemens, the portfolio of VAI Metals Technologies includes mechanical equipment... 28.04.2014  11:34

• Metallurgprom expects to produce 29 million tons of steel in Ukraine Alexander Zrazhevsky, General Director of the Metallurgprom Production Association, expects that in 2014 Ukraine will produce 29 million tons of steel. The main purpose of the association is to coordinate the activities of enterprises of the mining and metallurgical complex. Zrazhevsky said that... 27.04.2014  13:00

• JSW Steel launches second cold rolling mill in Karnataka JSW Steel Limited has commissioned its new Cold Rolling Mill 2 (CRM-2) at its facility in Vijayanagar, Karnataka. The new CRM-2 complex, with a production capacity of 2.3 million tons per year, is the most complex in configuration and will be able to produce advanced high-strength steels such as... 27.04.2014  12:24

• EU ban on gas imports from Russia will cause serious problems in the European economy The Fitch rating agency said that the introduction of a ban on Russian gas imports to the EU would cause a significant disruption to the economy and affect all industries in Europe. The region will suffer from gas shortages and high prices amid limited capacity for alternative sources of gas supply... 26.04.2014  12:44

• Italian factory modernization threatens 4,000 jobs The blast furnace at the Italian ironworks Lucchini was shut down this week, threatening to cut 4,000 jobs, despite Pope Francis calling on officials to do whatever it takes "to rekindle hope." The authorities are "determined to rebuild the furnace, which will use advanced technology, and to... 26.04.2014  12:02

• POSCO cuts 2014 sales and investment forecasts on weak steel demand South Korean steelmaker POSCO cut its sales and investment guidance for this year after its first-quarter profit fell short of preliminary estimates, as the Chinese economy slows down, which is holding back steel demand. The world's fifth-largest steelmaker, like its competitors, is struggling... 26.04.2014  11:21