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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Baoshan Iron & Steel , China's top listed steelmaker, expects the country's apparent consumption of crude steel to drop to 680 million tonnes this year from 698 million in 2015, Dai Zhihao, its general manager, told an online briefing. The forecast from Baoshan Iron & Steel, or Baosteel, comes at…

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Cashed-up Chinese steel mills are chasing top quality iron ore to help increase output and meet Beijing's tougher environmental standards, driving the premium for high-grade ore to its biggest in two years. In the latest sign of renewed optimism among China's steel producers as capacity cuts boost steel prices, producers…

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Tariff protection against cheap Chinese steel imports was harmful for local downstream steel manufacturers and should be abolished, an industry body said. The tariffs were imposed to protect primary steel producer ArcelorMittal SA (Amsa), which has now agreed to drop import parity pricing and adopt a new pricing model for…

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Steel production in China, the world’s biggest supplier and consumer, will likely contract this year and shrink further in 2017 as local demand slows, according to Li Xinchuang, a vice chairman at the China Iron & Steel Association. “There will be significant declines in the next three months,” said the…

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It was a long-running battle that could no longer go on. The David in this story furiously hopped around Goliath, without much success, until the giant, for other reasons, ran out of steam. For most of the post-apartheid era, the pricing of steel has been contentious. Steel is important to…

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AK Steel Holding Corp. agreed to pay $37.5 million to end an iron-ore pellet agreement with Magnetation LLC, which last week said it may cease operations. AK Steel has a 49.9% stake in Magnetation, which had hoped to restructure following its bankruptcy filing in May. Grand Rapids, Minn.-based Magnetation may…

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Korea’s top steelmaker POSCO is putting efforts into enhancing its automotive steel plate business as one of the few global companies that supplies steel sheets for carmakers. Automotive steel plates, a cash cow steel product, are only supplied by some 20 out of about 800 steelmakers in the world. POSCO…

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China's banks are set to be the biggest losers in the sweeping bailouts of the country's steel and coal industries. Local governments hoping to save their steel mills and coal miners have announced restructuring plans - with banks taking the hit - by improving the terms of loans or swapping…

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Iron ore prices have retreated on the concerns that China’s expected ramp up of steel capacity cuts in the remainder of the year will zap iron ore demand. Iron ore lost 0.7% overnight to touch $61.10. China is aiming to reduce steel capacity over the medium term as its producers…

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U.S. Steel Corp. reported a second quarter loss of $46 million in July, a significant improvement over its year-ago loss of $261 million. Net sales of $2.6 billion declined from $2.9 billion during the same 2015 period. “Our improving cost structure continues to drive increases in our margins and the…