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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Laden with debt and struggling to make money as the world's No.2 economy loses momentum, China's steel mills do not appear obvious candidates for overseas expansion. But the country's crisis-hit steel sector is calling for strong government backing for plans to ramp up foreign acquisitions, as it looks to escape…

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The new mining law is seen as a positive development for Tata Steel, evident from the marginal rise on Monday in the stock price on the BSE. Production cost might rise due to the mandate that miners will have to pay more for project-affected people. However, investors seem optimistic as…

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Billionaire Lakshmi N Mittal's entry into Uttam Galva Steels through ArcelorMittal couldn't have been more welltimed for the Indian company. The steel baron invested in the company as a co-promoter in 2009-10, promising technology and global reach, which have helped Uttam Galva ride through turbulent times when companies are competing…

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South African steel production fell by 11.8% year on year (y/y) to an estimated 500,000 tons in February 2015 after declining by 9.6% y/y to 550,000 tons in January 2015, according to the World Steel Association. Steel accounts for 4.7% of total manufacturing production and is an important indicator of…

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Shares in Jindal Steel and Power Ltd(JNSP.NS) slumped as much as 14.9 percent, heading towards their biggest daily loss since June 11, 2013, after the government rejected its bids for three coal mines put up for auction. India has rejected winning bids for four of 33 coal mines put up…

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India has overtaken the US to become the third-largest steel producer in the world with a production of 14.56 million tonnes (MT) in first two months of the year. India has been the fourth-largest steel producer for the past five years, behind China, Japan and the US. Data compiled by…

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Many loss-making Chinese steel mills could finally be ready to shut their doors this year, with the government expected to offer more incentives for stricken enterprises to close as the economy slows and a war on smog intensifies. For years, hundreds of poorly-regulated mills dodged policies aimed at solving the…

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Nucor Corp, the No.1 U.S. steelmaker, cut its profit forecast for the first quarter, saying higher imports were hurting steel prices. Nucor expects imports to slow down in the second quarter, but remain at "excessively high levels", the company said on Thursday. The company's shares fell as much as 6…

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Bhushan Steel has said it is in talks with banks for restructuring of debt to the tune of $3.7 billion (about Rs 23,000 crore). "The matter regarding realignment of debt maturity profile is at discussion stage with the bankers. The relevant information in this regard would certainly be announced... as…

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Sajjan Jindal's JSW Steel has expressed interest in the 4,004 acres earmarked for Korean steel major Posco's seemingly doomed mega project in Odisha. A JSW Steel director recently met a senior state bureaucrat to convey to the government its interest on the land, if Posco walks away from the project,…