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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Tangshan, a major steel producing city in north China's Hebei Province, has cut 31.9 million tons of steel capacity in the past four years, local authorities said Sunday. Tangshan had a steel capacity of 150 million tons before 2013, but its annual output then stood at about 100 million tons,…

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Dalian iron ore prices extended their winning streak to a sixth session on Monday and coke futures hit a more than three-year high, as tight supplies and firm demand in top consumer China underpinned prices of the steelmaking raw materials. However, the sharp spike in prices of the commodities, that…

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Tata Steel Minerals Canada today said it has signed agreements with Quebec government entities to conclude investments of Canadian dollar 175 million (nearly Rs 875 crore) to set up mining operations in Quebec Newfoundland and Labrador peninsula in Canada. "Tata Steel Minerals Canada together with its parent companies signed definitive…

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The steel industry in India continues to be a baffling box of contradictions. While Indian steelmakers are ramping up newly installed capacities and increasing output, Indian consumers remain stubbornly unmoved about consuming all that local steelmakers are making. That India would go on a mission to increase output seemed highly…

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Steel prices in China remain resilient, but there are concerns that a correction in prices is looming. Chinese steel prices have climbed this year amid increased infrastructure development as part of the government’s stimulus programs, but right now it appears most of the steel that China is importing is being…

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U.S. Steel has recalled about 75 maintenance workers who were laid off at Gary Works this summer, after union protests about safety and two deaths at the mill. But many of the 230 maintenance workers who were demoted with cuts in pay of $3 an hour to $9 an hour…

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Amid the controversy around the ouster of Tata Sons Chairman, Cyrus Mistry, Tata Steel Minerals Canada has announced that it has decided to invest C$125 million as equity and C$50 million as debt with the Government of Quebec’s investment entities, Resources Quebec (RQ) and Investment Quebec (IQ) respectively, totaling C$175…

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The recent rally in coking coal prices, as a result of higher demand from China amid subdued supply, might entirely offset the price gains by the domestic steel sector in the last quarter of the current financial year, rating agency ICRA on Wednesday said. “While domestic steel prices have also…

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Axiom Capital’s Gordon Johnson notes that steel prices continue to fall despite recent price increases from U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) Despite announced price hikes by U.S. Steel, Nucor, and AK Steel in recent weeks, prices for US HRC edged down again this week by $10/s.ton…

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Cheap imports from China and Russia will continue to constrain European steel prices over the next year, according to a report from Moody's Investors Service. As well as putting pressure on European prices, imports will also soak up "a fair share of the expected growth in steel demand", Moody's said.…