NEWS

For our visitors who seek the latest industry news and updates to keep abreast with the goings-on of the business on a global scale, Plant Automation Technology portal grants a dynamic and diverse feed of news items.

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The steel industry is warning of job losses as a result of the EU's failure to impose high import tariffs on a steel product made in the UK. The EU has set provisional duties on Chinese imports of reinforced bar or rebar of between 9.2% and 13%. Industry body UK…

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Steelmakers worldwide continue to struggle with low prices amid a flood of cheap Chinese products, with South Korean leader Posco falling into the red for the first time in 2015. Posco suffered a net loss of 96 billion won ($79.4 million) on an 11% drop in sales to 58.1 trillion…

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United States Steel Corp. reported this week that it lost $1.5 billion in 2015, including $999 million in the fourth quarter alone. In its quarterly report on company performance, U.S. Steel President and Chief Executive Officer Mario Longhi said in announcing the results that the company is cutting costs and…

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Steel imports continued to target the EU market despite still relatively weak demand, low domestic prices and the weak euro in the second half of 2015. Going forward, abundant global supply and suppliers fighting for tonnage fuels uncertainty in the market. EU mills fear for losing further market share in…

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It boils down to who had control, opponents of U.S. Steel argued in the last of eight days of hearings into the company's claim that it is owed more than $2 billion in debt. In the second day of closing arguments, tag-teaming attorneys for unionized steelworkers and the Ontario government…

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When politicians and steel bosses in the U.S. complain about cheap Chinese imports, they’re pointing at a flood that’s already receding. Shipments of iron and carbon steel to the U.S. last year slumped by about a third from a record in 2014 -- the first decline in five years --…

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After the anti-dumping duty on imports of cold-rolled flat products of stainless steel last month, domestic stainless steel industry is seeking for anti-circumvention duties on the same product and has already approached the Ministry of Commerce with its plea. "The recently levied duty is on cold-rolled flat products ranging between…

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With many hardware dealers now importing cheap Chinese steel products, the Steel Workers Union (SWUTT) is warning Government and contractors that infrastructure in T&T will not be able to stand natural disasters in the near future. Dozens of retrenched workers of Central Trinidad Steel Ltd (Centrin), T&T’s leading supplier of…

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CHINA’s plan to slash crude steel production capacity could eliminate 400,000 jobs and may fuel social instability, according to the state-run metals industry consultancy. Steel production capacity will be cut by 100-million to 150-million tonnes, China’s State Council announced on Sunday without specifying a time frame. That will translate into…

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South Korea's POSCO (005490.KS) plans to sign a preliminary agreement with Iranian steelmaker PKP in March to buy a stake in a $1.6 billion steel mill project in the Middle Eastern country, a source with knowledge of the matter said. In September, the firms signed a memorandum of understanding to…