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.

Wednesday, Dec 30, 2015
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Iron ore is rallying on a two-week bounce in steel prices, but the steelmaking ingredient is still on course to be one of the worst-performing commodities again this year owing to a global glut. Iron ore has jumped 12% since hitting a decade low about two weeks ago, riding the…

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Hyundai Motor and Kia Motors have been ordered to sell a combined 6.6 percent stake worth 440 billion won ($375.61 million) in steelmaking affiliate Hyundai Steel by Thursday to comply with ownership regulations. Shares in Hyundai Steel tumbled as much as 6 percent in morning trade on Wednesday on news…

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Vietnam’s trade ministry Saturday announced the start of an investigation into steel imports following complaints by local producers that imports are jeopardizing domestic production. The ministry’s competition management department said four Vietnamese companies have proposed a 45 percent tariff on imported steel billets and 33 percent on steel rods. Hoa…

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A 59-year-old iron and steel plant operated by Hangzhou Iron & Steel Group Co was shut down this month in order to improve the city's air quality. The plant had been running in Hangzhou, the capital city of Zhejiang province, in East China, since 1957. According to the city's environment…

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Jakarta. State-controlled steel maker Krakatau Steel has postponed the construction of its $405.9 million hot strip mill until January next year, after its initial plans to start building before the year's end, the company announced on Monday. Sukandar, president director of Krakatau Steel, said the company would first place a…

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CSC Steel Holdings Bhd has come out in support of the Malaysian Iron and Steel Industry Federation (Misif), which said the proposal to set up a special purpose vehicle (SPV) solely to import hot-rolled coils (HRCs) and downstream products into Malaysia should be objected outright. “We already have a Mesyuarat…

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A $3 million transition fund to cover health costs for retired employees of U.S. Steel Canada was approved in Ontario Superior Court Wednesday. The Ontario government announced the fund in October to address the most urgent and critical medical needs of retirees who had their benefits cut off by the…

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A General Cable Corp. executive has joined the board of AK Steel, the Butler County steelmaker announced Tuesday. Gregory Kenny was elected to the Fortune 500 company’s Board of Directors effective Jan. 1. Currently, Kenny serves as an advisor to the chief executive officer and the board of directors of…

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U.S. regulators have agreed to slap countervailing duties of up to 7.69 percent on heavy-walled rectangular welded carbon steel pipes and tubes from Turkey, according to a preliminary ruling announced on Tuesday. The U.S. Commerce Department calculated a preliminary subsidy rate of 7.69 percent on MMZ Onur Boru Profil uretim…

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U.S. Steel Corp. says it's delaying the construction of an electric arc furnace at a plant in Fairfield, Ala. Officials said in a statement Monday that market conditions in the oil, gas and steel industries led to their decision. In August, U.S. Steel announced it was closing its Fairfield Works…