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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Japan's Nippon Steel & Sumitomo Metal Corp, which plans to spend 300 billion yen ($2.5 billion) on overseas expansion by March 2018, may set aside a bigger amount in the following years to propel growth abroad, its president, Kosei Shindo, said. Nippon Steel's appetite for investments through mergers and acquisitions…

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Mexico on Tuesday announced new levies for six months to protect its steel industry from a flood of low-priced imports from countries including China. The duties of around 15 percent would apply to five types of products including cold-rolled steel, hot-rolled steel, wire rod, steel sheet and plate from countries…

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Australia on Wednesday cut its 2015 iron ore price forecast to $52.90 a tonne from $54.40 previously, citing rising supplies of the steel-making ingredient amid softer demand growth. "Increasing supply, predominantly from Australia, is forecast to drive prices down in 2015 and 2016 in the seaborne market," Australia's Department of…

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Tata Steel, the country's oldest steel producer, will be allowed to lift its mined ore from Noamundi in Jharkhand following payment of its first tranche to the state government over the weekend, a top official with Directorate of Mines and Geology, Jharkhand, told  Business Standard today. “Tata Steel, over the…

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ArcelorMittal today announced a US$11.1m investment into its premier tubular facility in Monterrey, Mexico, to enhance product capabilities for the North American automotive market. The investment will go towards the construction of an additional world-class tube mill and addition of downstream value-add processing equipment, which will allow the facility to…

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A family steel firm near Sheffield has gone into administration, putting 120 jobs at risk. Kiveton Park Steel Ltd makes specialist steel products for industry including the automotive sector. A spokesman from FRP Advisory, appointed as administrators, said: "The Kiveton Park Steel business is fulfilling orders and the 120 staff…

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Neelachal Ispat Nigam Ltd (NINL), a joint venture steel company promoted by MMTC Ltd and the government of Odisha with 1.1 million tonne annual capacity, will restart steel making operation from October 15, this year. The steel mill, located at Duburi in Jajpur district, had halted steel making activity last…

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Iron and steelmaking at SSI's plant on Redcar is to be mothballed with the loss of 1,700 jobs. Production was paused on 18 September amid poor steel trading conditions across the world and a drop in steel prices. SSI UK business director Cornelius Louwrens said: "This is an extremely sad…

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Kobe Steel Ltd. more than halved its full-year profit target after China’s slowing economy hurt sales at its construction machinery unit and a power outage at its Kakogawa steelworks pushed up costs. The steelmaker now forecasts net income at 25 billion yen ($207 million) for the year to March 2016,…

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U.S. Steel could lay off another 210 workers at its Keetac taconite plant in Keewatin. The potential layoffs could last as long as six months, U.S. Steel spokeswoman Courtney Boone said, and would add to the roughly 150 workers currently laid off from when the plant idled this summer. In…