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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U.S. Steel lost $46 million in the second quarter, its fifth straight quarterly loss, though its flat-rolled segment returned to profitability. The Pittsburgh-based steelmaker, which has mills in Gary, Portage and East Chicago, reported losing 32 cents per share from April through June. U.S. Steel however declared a dividend of…

Wednesday, Jul 27, 2016
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Keokuk Mills, LLC, formerly Keokuk Steel Castings, received word Friday about $1.4 million in state assistance that will help speed the reopening of the foundry. The plant was closed in March by the Matrix Metals-Sanmar Group. Brad and Anne Mills of Mills Group, residents of Lee County, announced a tentative…

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South Korea’s largest multinational steel-making company POSCO has indicated its interest in investing USD 500 million in building an ultra-modern metallurgical plant in Georgia. The news was announced following a recent meeting of the POSCO Senior Vice President, Jin Sik Choi, and Georgia’s Deputy Foreign Minister, David Jalagania, in Georgia’s…

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After several delays, state steel maker Krakatau Steel (KS) has finally scheduled the groundbreaking of a US$400 million hot strip mill in Cilegon, Banten, for August. KS president director Sukandar said the mill would add 1.5 million tons to its current 3.15 million ton annual steel production. "The groundbreaking will…

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China cut 13 million tonnes of excess crude steel capacity in the first half of the year, less than a third of its annual target, but will step up efforts in the second half, the vice industry minister said on Monday. Feng Fei, regarded as the architect of China's plans…

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Import and export numbers speak volumes about the state of Pakistan’s economy. There are about a dozen import and export industries worth over a billion dollars each, which tell us more about the economic performance of the current government since 2013. Iron and steel scrap and the power generating machinery…

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The U.S. may be able to address its concerns about Chinese steel production at the G20 summit. The world’s top economies will work to tackle excess production capacity in steel and some other industries, including government subsidies that have distorted markets, G20 finance officials said on Saturday. In a draft…

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Nucor Corp. reported a steep increase in quarterly profit Thursday and forecast a robust third quarter, as the steelmaker cashed in on a widening gap between weak commodity markets overseas and domestic prices propped up by new U.S. import tariffs. Nucor, now the country’s biggest steelmaker by output, said net…

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Malcolm Turnbull has announced a $49.2 million loan to support South Australia’s ailing steel sector and workers at Arrium. The Export Finance and Insurance Corporation will provide the loan under the National Interest Account for new machinery at the Iron Knob and Iron Baron mines. “This will enable Arrium’s OneWhyalla…

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South African steel production rose 6.9% year on year (y/y) in June to an estimated 545,000 tons, according to the World Steel Association (worldsteel). This was the first y/y increase this year after a 16.3% rise in South African steel production to 7.6-million tons in 2015 compared with a 2.8%…