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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The iron ore price has edged lower after one Chinese steel manufacturer said it would pull out of the steel industry and switch its focus to finance. Iron ore lost 0.7 per cent to $US61.10 overnight, according to The Steel Index, from $US61.50 yesterday. Chongqing Iron and Steel pointed to…

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Spot prices of imported iron ore were quoted stable in the morning except for individual products at northern ports; steel mills showed strong buying interest and traders were bullish on the coming market. Some traders tended to raise prices but failed, transaction prices leveled off from yesterday. “Spot prices at…

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The final step in a package of trade-offs with ArcelorMittal SA (Amsa) will be for the department of trade & industry (DTI) to designate locally made steel for state infrastructure projects. Amsa’s deal with the competition commission — to pay R1.5bn to settle all outstanding matters under investigation, limit its…

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Qatar Steel has decreased their rebar prices by QAR 250 (USD 68) per ton for September output. The new rebar price is at QAR 1500 (USD 412) per ton delivered from UAE plant. The price cut comes after Turkish rebar export prices decreased in the wake of slow market activity.…

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China's northern Hebei, which accounts for a quarter of China's steel output, is lagging far behind in its plan to reduce steel and iron producing capacity, data released by the provincial state planner showed on Wednesday. Seven major iron and steel producers have cut their capacity by 3.18 million tonnes…

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Nippon Steel and Sumitomo Metal Corp is working on a plan to split Usinas Siderúrgicas de Minas Gerais SA (Usiminas) into two separate units, in a last ditch attempt to end a two-year battle with Techint Group for control of the Brazilian steelmaker, two people familiar with the matter said…

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Steel output rose in China last month, but fell in the United States. The World Steel Association reported that America produced 6.9 million tons of crude steel in July, a year-over-year decrease of 2.2 percent. China produced 66.8 million tons last month, a 2.6 percent increase as compared to July…

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China's northern Hebei, which accounts for a quarter of China's steel output, is lagging far behind in its plan to reduce steel and iron producing capacity, data released by the provincial state planner showed on Wednesday. Seven major iron and steel producers have cut their capacity by 3.18 million tonnes…

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ArcelorMittal's South African business and the country's government have agreed a new pricing model aimed at bolstering the domestic steel sector and reviving the economy. The company was fined a record 1.5 billion rand ($111 million) on Monday for setting prices at the level consumers would have to pay for…

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ArcelorMittal's South African unit has agreed to pay a record 1.5 billion rand ($110 million) fine for colluding to fix steel prices, the competition watchdog said on Monday. The Competition Commission launched an investigation in 2008 after concerns were raised that steel mills had been charging import parity prices, or…