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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Baoshan Iron & Steel Co.retreated in Shanghai after China’s second-biggest steelmaker warned that a slump in steel prices and foreign-exchange losses will push its 2015 net income down more than 80 percent. The producer, also known as Baosteel, sank as much as 7.8 percent on Wednesday after saying that the…

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The European Union is ordering Belgium to recoup $230 million from the Duferco steel group because of illegal state aid that distorted competition. Wednesday's ruling was the second case in short succession in which the EU competition office went after Belgium after it ordered the government to recover some $760…

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Granting China market economy status this year would threaten nearly all the 330,000 jobs in Europe's steel sector despite any safeguards the EU might impose, the head of steel industry body Eurofer said. The warning came a day after Europe's second largest steelmaker Tata Steel announced another 1,050 job cuts…

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China's output of electric power and steel fell for the first time in decades in 2015, while coal production dropped for a second year in row, illustrating how a slowing economy and shift to consumer-led growth is hurting industrial consumers. China's economy grew at its weakest pace in a quarter…

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Steel output in the world’s largest producer posted the first annual contraction in a quarter century. Mills in China, which make half of global supply, churned out less last year for the first time since at least 1991 as local demand dropped, prices sank and producers struggled with overcapacity. Crude…

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Steelmakers searching for new products to survive a slump in the industry may have found one in car steel sheets, considered one of the highest value-added products. The nation’s leading steelmaker Posco is currently participating in the 2016 North America International Auto Show, where it is showing off about 30…

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The UK government is set to come under fresh pressure to help the steel industry as workers are braced for more job losses. Tata is expected to announce 1,000 job cuts at plants including Port Talbot and Llanwern in south Wales. The news is likely today dealing a fresh blow…

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China's major steel firms lost 53.1 billion yuan ($8.07 billion) from January to November last year, as prices fell because of overcapacity and slumping demand, the China Iron and Steel Association (CISA) said on Monday. China's steel sector, responsible for around half of global output, has been one of the…

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India’s largest-ever steel export deal, struck with Iran in 2014 to allow it to buy the metal without violating Western sanctions that are now set to end, has become mired in a dispute that has seen no payments made or shipments delivered since last fall. The impasse underlines how Tehran…

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Usinas Siderúrgicas de Minas Gerais SA, one of Brazil's largest producers of flat steel, upheld on Friday a plan to halt steel production at its Cubatão mill, which will mean dismissal of about 4,000 workers, union leaders said. The STISMMMEC union, which represents steelmakers around Cubatão, said a meeting between…