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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Tata Steel (TISC.NS) and Thyssenkrupp TKAG.DE. are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry. The move could see…

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State-run Steel Authority of India Ltd (SAIL) has received approval 'in principle' from the government to sell stakes in three units, the company said in a statement on Tuesday. The company will be selling stakes in the Bhadrawati, Salem and Durgapur steel plants through a two-stage auction process to strategic…

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Chinese iron ore futures fell more than 6 percent on Tuesday, as steel prices fell by about the same extent after hitting a 31-month high in a rally that prompted exchanges to again step in to tame the surging market. A reduction in China's steel capacity along with a push…

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Steel Dynamics announces offering of notesPlans to sell approximately $400 million aggregate principal amount of debt securities  Intends to use net proceeds of offering, along with cash on hand, to buy any, all of its 6.125% senior notes due 2019 among other things   Source:reuters.com

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India's JSW Steel Ltd has joined one of two investor groups vying to take over Italy's loss-making Ilva steel plant, a source with knowledge of the matter said on Monday. The steel firm owned by billionaire Sajjan Jindal has signed an agreement with Italian state lender CDP, businessman Leonardo del…

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Tata Steel UK, the British arm of India's Tata Steel, will hold exclusive talks with trading firm Liberty House to sell its speciality steel business as its parent seeks to offload loss-making assets and restructure European operations. The company has put an enterprise value of 100 million pounds ($124.3 million)…

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Chinese steel futures jumped over 6 percent to the highest in 31 months on Monday, as investors raised bets that strong property and infrastructure investment will sustain demand in the world's top consumer, spurring a similar rally in iron ore and zinc. The red-hot rally in steel is bound to…

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Russian metals and mining giant Mechel said on Tuesday its third-quarter crude steel output fell 5 percent quarter-on-quarter to 1 million tonnes. Coal output also fell 5 percent to 5.6 million tonnes, Mechel said, while sales of coking coal slipped to 2 million tonnes, down 10 percent from the previous…

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Tata Steel is planning to invest up to £100m a year in its UK facilities including Port Talbot steel works, according to a report in the Sunday Times.It comes after reports on Friday that the Indian giant was preparing to commit to keeping its UK operations running for at least…

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SET-listed Millcon Steel Plc (MILL) has partnered with local companies to invest in a UScopy2 million plant to produce construction steel to meet rising demand in Myanmar, where construction business and investment in infrastructures are booming. Chief executive Sittichai Leeswadtrakul said Millcon owns a 45% stake in the joint venture,…