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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At this World War I-era mill near Birmingham, the construction of a new furnace signals a major shift for American steelmaking, as the country’s two remaining major steel producers face mounting pressure from a flood of low-priced imports. U.S. Steel Corp.’s first electric arc furnace in decades is a step…

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Something has to give in the Chinese steel sector, given the disconnect between record low steel prices and a recent strong rally in iron ore. Steel rebar futures hit a record low on Tuesday, with the benchmark contract dropping to 2,238 ($360.47) a ton, the weakest since the Shanghai Futures…

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In a decisive step, the government has hiked import duties on steel meeting a long standing demand from domestic players reeling under a flood of cheaper steel imports from China and South East Asia. The decision, which comes on top of recent imposition of anti-dumping duty on some grades of…

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Yielding to steel ministry requests, the government on Wednesday hiked import duty on long steel products from 5.5 percent to 7.5 percent and that of flat steel product from 7.5 percent to 10 percent. The import duty on stainless steel products remained unchanged. Alarmed by the excess steel capacity in…

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Key benchmark indices trimmed gains in afternoon trade as European stocks edged lower amid initial volatility on worries debt-laden Greece is heading for a default or even an exit from the eurozone. The barometer index, the S&P BSE Sensex, was currently up 124.86 points or 0.47% at 26,811.37. The gains…

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Iron ore in China slumped the most in seven weeks amid concern that steel consumption in the world’s largest user was faltering, curbing demand for the raw material. Futures on the Dalian Commodity Exchange sank 2.9 percent to 425 yuan ($68.46) a metric ton on Wednesday, the most since April…

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Jindal Steel and Power Ltd (JSPL) on Monday said the Steel Melting Shop at its Raigarh facility produced a record 10,000 tonne of crude steel in a single day on June 13, 2015. This highest production based on DRI (Direct Reduced Iron) and hot metal marked a key milestone in…

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Chinese equipment supplier Sinosteel has clinched a contract worth $508 million for the construction of a new steelworks near Algiers, Algeria, for the Turkish company Tosyali, said a report. The new mill will have a capacity of 2.3 million metric tons/year, stated Platts, a leading global provider of energy and…

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Tata Steel UK has launched a new initiative in its efforts to resolve the pension dispute with its UK trade unions. The company has approached Advisory, Conciliation and Arbitration Service (ACAS) to help facilitate the next phase of talks between the parties, it said in a release. Tor Farquhar, executive…

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A detailed project report (DPR) on the proposed Rs 5,000-crore steel plant to be set up under a joint Venture (JV) between ArcelorMittal and state-run SAIL will be completed by August. Last month, the world's largest steel-maker and domestic steel giant inked a pact to jointly set up a steel…