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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South Korea's POSCO said it would shut down unprofitable local and overseas businesses as part of a restructuring plan aimed at boosting profit growth in the world's sixth-largest steelmaker as global demand for steel remains weak. POSCO plans to reduce by about a third its overseas businesses while the number…

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China's crude steel output fell 0.8 percent from a year earlier to 68.95 million tonnes in June, government data showed on Wednesday, underscoring demand softened by sputtering economic growth and a property slowdown in the world's top producer. Total steel output declined 1.3 percent to 409.97 million tonnes for the…

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Chinese iron ore futures edged up on Tuesday, backed by hopes traders would rebuild steel stockpiles after a recent price rout and ahead of seasonal peak demand. Firmer futures may push benchmark spot iron ore higher later in the day, having stabilised at close to $50 a tonne on Monday…

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Hyundai Steel, the steel business arm of Hyundai Motor Group, unveiled its growth vision to 2025 under a blueprint to advance into a “materials business-based value creation company.” Under the new slogan of “engineering the future beyond steel,” the company said it would diversify its businesses beyond the core and…

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Brazilian steel mills expect raw steel sales to fall 15.6 percent in 2015 from the previous year and consumption to fall 12.8 percent, industry group IABr said on Monday. Previously, the institute had expected sales to fall a more modest 8 percent and consumption to fall 7.8 percent. Steel output…

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Zhongrun Resources Investment Corp Says signs strategic agreement with Inner Mongolia Baotou Steel Union Co Ltd on business development, shares to resume trading on July 14.   reuters.com

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Africa's largest steel maker, ArcelorMittal South Africa (ACLJ.J), has asked the government to impose a 10 percent import duty on steel and in return it may offer shares to black empowerment partners, a newspaper reported on Sunday. Shares in the unit of the world's largest producer of steel are trading…

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The Odisha government wants its resources arm, Odisha Mining Corporation (OMC) to hold controlling 51 per cent stake in the mining joint venture (JV) to be formed for the proposed ultra mega steel plant (UMSP) in the state. "For implementing the ultra mega steel plant, a special purpose vehicle (SPV)…

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Hit by flooding of cheap products from China, Korea and CIS nations, the domestic steel industry has upped the ante for another dose of increase in import duty. Buckling under pressure from Indian manufactures to safeguard their interest, the Centre sometime ago enhanced the import duty on stainless steel mainly…

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The Mexican government’s recent decision to impose anti-dumping duties on some key steel imports from China has sparked a rift between the country’s steel and automotive industries, reigniting a debate over whether Mexico should adopt a more protectionist stance over trade policy. On Thursday, the government announced several additional measures…