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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China, Japan and India accounted for almost 64 per cent of the total global steel production of 134.1 million tonnes in August, as per data by World Steel Association. World crude steel output, for the 66 countries reporting to the association, rose by 1.9 per cent to 134.1 MT last…

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Tokyo Steel Manufacturing Co Ltd , Japan’s top electric arc furnace steelmaker, said it would slash prices of its products for October delivery by up to 13 percent to reflect soft local demand and weakening overseas prices. The company will cut prices by between 3,000 yen to 7,000 yen ($29…

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UK Steel Enterprise (UKSE), the business investment fund subsidiary of Tata Steel, has appointed Glyn Thomas as its area manager for Wales. (UKSE) plays an important role in supporting the economy in former steel areas in Wales and the rest of the UK, by investing in businesses, as well as…

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Rising spot prices of iron ore also encouraged the short-covering as market participants expect the 70 yuan a tonne gap yesterday between futures and spot prices to narrow, said a futures trade in Shanghai. "The short-term fundamental outlook for iron ore remains firm -- high production rate at steel mills…

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The province of Ontario said on Wednesday that it has signed an agreement with equity fund Bedrock Industries LP to restructure U.S. Steel Canada, but the deal still requires approval from other stakeholders and a Canadian court. The plan, in a memorandum of understanding, must still be accepted by U.S.…

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A U.S. metals and mining company is offering to invest about $500-million to purchase U.S. Steel Canada Inc. and keep the troubled steel maker operating. Bedrock Industries LP has emerged from among several contenders as the Ontario government’s preferred candidate to complete the restructuring of U.S. Steel Canada, which is…

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Close on the heels of the Singur judgement, Tata Steel has indicated to the Chhattisgarh High Court that it is pulling out of the proposed 5.5 million tonne per annum integrated steel plant in the Lohandiguda region of Bastar district. An memorandum of understanding (MoU) was signed between Tata and…

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Two of China’s biggest steelmakers agreed to merge their listed units, moving a step closer to a union that would create the nation’s biggest mill and a company with the scale to rival ArcelorMittal SA. The publicly traded arm of Shanghai Baosteel Group Corp., the second-biggest Chinese mill by output,…

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Chinese steel mills and traders are expecting new orders to rise at home in the short term, while exports fall — with the G20 summit playing a strange role in boosting production. A survey of market participants by Standard & Poor’s Global Platts found that the domestic market would probably…

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The nation’s steel makers are set to pay for China’s effort to manage its coal industry as a surge in metallurgical prices flow through to quarterly supply contracts. Spot hard coking coal has more than doubled this year to trade above $205 a metric ton, and the gain will be…