NEWS

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Steelmaker ArcelorMittal said it had no plans to cut capacity further in Europe even though cheap imports are expected to depress prices further this year. "Absolutely not," the head of ArcelorMittal's German operations, Frank Schulz, told Reuters on Monday when asked if further cuts were planned in Europe. "We have…

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Shares of Jindal Steel and Power (JSPL) have tanked 17% to Rs 157 on the National Stock Exchange (NSE) in noon trade. According to Business Standard reports, of the 34 blocks, auctioned in two phases, letters of allocation for eight have not been signed with the successful bidders. These blocks,…

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A plan to sell the former Stelco plants in Hamilton and Nanticoke is ready for court approval. In a motion going to Superior Court on March 30, U.S. Steel Canada lays out a two-stage proposal intended to off-load the mills by the end of this year. The ponderously titled Sale…

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The Zaporizhstal Steel Works became a winner of the 19th Ukrainian National Quality Award and won the prize and diploma from Ukrainian Association for Quality. Mr Dmytro Chizhikov President of Ukrainian Chamber of Commerce and Industry and Mr Peter Kalita president of the Ukrainian Association for Quality handed out awards…

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Mukand has executed a Business Transfer Agreement for transfer of its Special & Alloy Steel Business to its subsidiary company ‘Mukand Alloy Steels’ on a slump sale basis for a lump sum consideration of Rs 1,590 crore, subject to deduction of debt and net working capital adjustment. The aforesaid transaction…

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Tata Steel Europe's unions are considering industrial action to protest against the steelmaker's decision to stop the British Steel Pension Scheme (BSPS) to future accrual. Industrial action can mean anything from a mass strike to a purposeful slowdown in work. "We feel we have no option but to consult our…

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Adding a new chapter to its history, the Steel Complex Ltd (SCL) Kozhikode is all set to launch its new steel rolling mill, which is likely to be inaugurated in a couple of weeks’ time. According to sources, if things go as planned, the trial run of the mill will…

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Pacific Investment Management Co. sees little growth potential for steel demand in China as the housing market slows, hurting the outlook for the global industry and iron ore prices. Goldman Sachs Group Inc. said output will drop. “The years of huge growth in China’s housing development market are over, spelling…

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Shares of Jindal Stainless surged as much as 17.5 per cent in intraday trade on BSE following reports that the government is planning to impose anti-dumping duty on hot rolled flat stainless steel. It has surged 27.69 per cent in the last two sessions to touch a high of Rs…

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Idling of Minnesota iron ore operation is company’s latest move to become more nimble U.S. Steel Corp. on Thursday announced more layoffs as it struggles to contend with surging imports and declining demand in the energy sector, saying it will temporarily idle one of its iron-ore operations in Minnesota, affecting…