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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Steel futures in China slipped 0.9 percent on Tuesday, their first day back after a long holiday weekend, with traders bracing for a seasonal decline in steel demand that is also set to undermine iron ore prices. The most traded rebar contract for September delivery on the Shanghai Futures Exchange…

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Russian coal and steel producer Mechel said on Tuesday its crude steel output rose 7 percent, while coal production fell 1 percent year-on-year in the first quarter of 2015. Mechel, controlled by businessman Igor Zyuzin, said steel output reached 1.1 million tonnes but coal production slipped to 5.5 million tonnes.…

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Mexico's government said on Friday that it would impose import duties on cold-rolled steel sheet from China after an anti-dumping investigation. The government said in its official gazette that it was placing tariffs of 65.99 percent on imports from Baoshan Iron & Steel Co Ltd and 82.08 percent on those…

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Unions have suspended next week's planned strike action at Tata Steel's UK plants and are recommending that their members accept the company's new pension offer. Unions Community, Unite, GMB and UCATT are preparing to ballot their members over the offer, which would keep their final salary pension scheme open. "Our…

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Japan's crude steel output fell 7 percent in May from a year earlier, the ninth straight monthly fall, as slack car consumption and slower government spending on public works battered steel demand. The continued decline is in contrast with recent data which underlined an upbeat mood among Japanese manufacturers and…

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AK Steel’s plans for building a new Research and Innovation Center in Middletown are about more than just construction of a new building, said James Wainscott, chairman, president and chief executive officer of the Butler County steelmaker. “It really does underscore AK Steel’s strong commitment to the future of steelmaking…

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Tata Steel has set up a new company to spearhead its investment in a proposed special economic zone at Gopalpur in Odisha, seeking to attract global electronics and electrical component makers from China and Southeast Asia and defence sector manufacturers. The new company, Tata Steel SEZ, will invest close to…

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A slump in Chinese demand for steel has poured cold water on a rally in iron ore this month, with prices for the raw material likely to drop over the rest of the year, traders and analysts said. Iron ore surged 40 percent from a decade-low in just over two…

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Some Chinese steelmakers are selling their output abroad at a loss, according to traders and a producer, as a group of global industry bodies urged governments to take action over rising shipments from China. Chinese mills had sold steel overseas at a loss of up to 200 yuan ($32) a…

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Nucor Corp, the No. 1 U.S. steelmaker by market capitalization, forecast a fall in quarterly profit as cheaper steel imports continue to weigh on average selling prices of the metal. The dollar's .DXY strength over the past few quarters has left U.S. steelmakers reeling as cheaper imports from China, the…