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ArcelorMittal Supplied Steel for Skyscraper Built in 19 Days

Wednesday, Jun 24, 2015

Steel giant ArcelorMittal MT announced that it supplied 10,345 tons of HISTAR beams for the construction of a 57-storey skyscraper which was built in a record-breaking 19 days in Changsha, China. The skyscraper was constructed at the equivalent rate of three storeys per day.

The HISTAR beams, supplied by ArcelorMittal Europe’s long products plant in Differdange, Luxembourg, enabled the speedy fabrication of the vast amount of steel “trees” required to construct the building’s core. HISTAR provides the combination of recyclable high-strength steel and rolled sections which help in building fastest, safest and most economical structures. Moreover, ArcelorMittal advised Broad Sustainable Building to use rolled sections instead of built-up sections to speed up the fabrication.

The high rise is known as “Mini Sky City” and is spread across 80,000 square meters. The building will provide 800 apartments and office space for 4,000 people. The skyscraper is built with 90%, factory-produced, LEGO-like blocks, using a modular construction technique which won BSB a CTBUH Innovation Award in 2013.

ArcelorMittal has supplied steel for several other skyscrapers worldwide, including the Freedom Tower in New York and the World Financial Center in Shanghai.

The company posted a loss in the first quarter of 2015 due to lower iron-ore prices, a stronger U.S. dollar and surge of imports in the U.S. It reported net loss of $728 million or 41 cents per share in the first quarter, which widened from a loss of $205 million or 12 cents per share in the year-ago quarter. The loss was also wider than the Zacks Consensus Estimate of a loss of 7 cents.

Revenues went down 13.5% year over year to $17.1 billion in the reported quarter, marginally beating the Zacks Consensus Estimate of $17 billion. Sales declined 8.6% sequentially due to slump in steel selling prices, seasonally lower market priced iron ore shipments and reduced iron ore prices, partly offset by increased steel shipments. Total steel shipments for the quarter were 21.6 million metric tons compared with 21 million metric tons in the year-ago quarter.

 

finance.yahoo.com

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