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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Chinese steel futures rose for a third consecutive session and hit a one-week high on Wednesday, as a pick up in orders by steel mills and the absence of a spike in inventories despite an expected seasonal lull in construction underpinned prices. The most active rebar futures for October delivery…

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Global steel production fell marginally by 0.1 per cent to 139.15 million tonnes (MT) last month compared with 139.29 MT a year ago, latest data by industry body World Steel Association (WSA) showed. Crude steel capacity utilisation ratio of 66 countries in May 2016 was 71.3 per cent, which is…

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Domestic steel producers are likely to require close to 96 million tonne of coking coal by FY2020, with the country's crude steel capacity expected to grow to 173 mt in the next four years, a sector report has said. The steel sector is already the second largest consumer of coal…

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BHP Billiton Ltd., the world’s biggest exporter of coking coal, sees long-term demand growth for steel-making ingredients supported by rising output in emerging economies led by India. The company lifted its coking coal production guidance for fiscal 2016 by 7.5 percent, forecasting rising steel output in India and continued growth…

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Chinese steel and iron ore futures edged up on Tuesday, but remained below recent highs amid expectations of slack demand in the near term. Construction activity typically slows during summer in China before picking up steam again around September, prompting many mills across the country to curb production. "I've heard…

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China's Commerce Ministry said on Monday it would reinvestigate its anti-dumping case into imports of high performance, seamless stainless steel tubes from Japan and the European Union. China lost an appeal ruling in October at the World Trade Organization in a dispute in which Japan and the European Union had…

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Liberty House Group has lined up financing from banks in the United Kingdom and India as well as several private investment firms to support its bid to acquire the British assets of Tata Steel (TISC.NS), Executive Chairman Sanjeev Gupta told Reuters. The firm is one of a number of companies…

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Serbian President Tomislav Nikolic was effusive about the April sale of the once-mighty Smederevo steel mill to a Chinese company during a celebratory speech in the city on Sunday. “I marked this day in my calendar; you should mark it, too. Today is a holiday and a day to remember,…

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Speculative trading in China's futures market has caused wild swings in prices for some steel products, affecting other countries since higher prices lead to increased production in a country with an overcapacity problem. The spot market is being roiled by trading of steel-derived commodities such as rebar and hot-rolled coil…

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Iran and the Steel Pensioners’ Fund for retired Iranian steel workers want to sell a 73 percent stake, added the report. Esfahan Steel aims to boost production to 3.2 million metric tons from 2.4 million tons a year earlier.  Output had declined 4 percent a year earlier as economic growth…