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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Japan's leading electric steel producer Tokyo Steel Manufacturing, has increased its buying prices for all grades of ferrous scrap delivered to all its works by Yen 500/mt ($4.10/mt) effective Wednesday, the company announced on its website late Tuesday. The increase takes Tokyo Steel's price for H2 grade material delivered to…

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Tata Steel Ltd said it expected a rebound in steel demand in its home market but another difficult year in Europe, after reporting a $889 million quarterly loss inflated by a hefty impairment on its UK business. The consolidated fourth quarter loss from Tata Steel, Europe's second-largest steelmaker, compares with…

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Libyan steelmaker Lisco is struggling to keep its mill rolling in a war zone, no easy feat when the power cuts off every night, shippers are reluctant to dock and foreign contractors are long gone. Lisco Chairman Mohamed Abdelmalik al-Faqih may have an office overlooking the Mediterranean, but the steel…

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Steel major Tata Steel is active on the deal street, forging some crucial strategic transactions, Sources with direct knowledge suggest that Tata Steel is in talks to buy Visa Steel's ferro chrome unit to safeguard its chrome mining reserves by buying value adding facility. Visa Steel's 180,000 tpa ferro chrome…

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Russian steelmakers are stepping up exports to compensate for a fall in a domestic demand, but with European and U.S. protectionism fuelling market competition, analysts say they risk losing sales to Chinese rivals. Exports have become increasingly lucrative for Russian steel producers such as NLMK, Evraz, Severstal and MMK which…

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Steel Strips Wheels (SSWL) has entered the North American market by securing an order worth $4.5 million (around Rs 29 crore) to supply 175,000 wheels to Canada's passenger car aftermarket. The wheels will be shipped by the end of June 2015, Steel Strips Wheels (SSWL) said in a filing to…

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Reports that Tata Steel is about to sell its long products division to Klesch Group are 'speculative' and do not reflect the views of the company, the steelmaker told the National Stock Exchange on Tuesday. Geneva-based Klesch Group, a global commodities business involved in chemicals, metals and oil production and…

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The Soviet-era plant had not been upgraded in nearly four decades, with zero maintenance for five years at the point of Mittal takeover When Lakshmi Mittal bought a bleeding steel complex in Kazakhstan in 1995 by paying $250 million and assuming some debts, the world thought the steel mogul was…

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Tokyo Steel Manufacturing Co , Japan’s top electric arc furnace steelmaker, said on Monday it would keep product prices unchanged for the seventh month in June, further evidence of weak demand at home and oversupply elsewhere in Asia. The company’s pricing strategy is closely watched by Asian rivals such as…

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POSCO Co., South Korea's largest steelmaker, likely will sign a comprehensive cooperation deal with South Arabia's sovereign wealth fund next month that includes the sale of a stake in its construction unit, industry sources said Sunday. POSCO was supposed to complete the deal with the Public Investment Fund earlier last…