In September 2017, Gränges AB announced plans to form a joint venture with Mitsubishi Aluminum Co., Ltd in North America for manufacturing of advanced aluminium materials for brazed automotive heat exchangers. Gränges has decided to halt the plans for a joint venture in North America, as the project isn’t sufficiently attractive for Gränges from a risk-reward perspective given the current circumstances. Gränges and Mitsubishi will however continue t

The U.S. Department of Commerce (Commerce) announced the final decision in its antidumping and countervailing duty investigations into stainless steel flanges from India, imposing combined antidumping and countervailing duties of approximately 24% to 401.41% on Indian flanges. The decision can be found here. On August 16, 2017, the Coalition of American Flange Producers, an ad hoc association of U.S. producers of stainless steel flanges, filed petitions with Commerce and the U.S. In

Russel Metals Inc. announces that it has declared a dividend in the amount of Cdn$0.38 per share on its common shares, payable on September 14, 2018 to shareholders of record at the close of business on August 27, 2018. About Russel Metals Russel Metals is one of the largest metals distribution and processing companies in North America. It carries on business in three metals distribution segments: metals service centers, energy products and steel distribut

The board of directors of TimkenSteel Corporation (NYSE: TMST, timkensteel.com), appointed Marvin Riley, chief operating officer of EnPro Industries, as a new independent director. Eleven directors now serve on the TimkenSteel board. "Marvin has been a leader in the automotive, energy and industrial industries and brings to the board valuable manufacturing and supply-chain insights," said Tim Timken, chairman, CEO and president of TimkenSteel. "In his current role, he

GrafTech International Ltd  today announced the pricing of a secondary offering of its common stock, which was upsized from 20,000,000 shares to 23,000,000 shares. The shares have been offered by the majority stockholder, an affiliate of Brookfield Business Partners LP, a publicly listed business services and industrials company of Brookfield Asset Management Inc., at a price to the public of $20.00 per share. The offering is expected to close on August 13, 2018, subject to customary clo

Nippon Steel & Sumitomo Metal Corporation (NSSMC) and PT Krakatau Steel established the joint- venture company PT KRAKATAU NIPPON STEEL SUMIKIN (KNSS) in the Republic of Indonesia for the manufacture and sale of automotive flat steel products, and it started commercial production in July 2017. On August 7, 2018, an opening ceremony was held at the local plant site. It was attended by representatives from the Indonesian government and the Japanese government as well as customers.

Metso has won a significant order to deliver a pellet plant, including grinding, filtration and a pyro-processing pellet plant to a large-scale steel operation of JSW Steel Ltd. in India. This new order is Metso's largest global pellet plant delivery, and the single largest installation for Metso 2040-60 Vertical Plate Pressure Filters VPA, which are used in heavy-duty dewatering applications. The order is booked in Metso's second quarter 2018 orders received. &quo

TimkenSteel, a leader in customized alloy steel products and services, today announced it will increase prices on special bar quality (SBQ) bar products by $50 per ton. This increase is for orders not already covered by agreements, and effective with shipments beginning Sept. 3, 2018. All surcharge mechanisms remain in effect. About TimkenSteel Corporation TimkenSteel  creates tailored steel products and services for demanding applications, helping cu

CRU believes that China is destined for a new phase of steel industry consolidation that could lead to a fundamental change in China's steel industry landscape with ramifications reaching far beyond China. This CRU Briefing, the first of this series of CRU Briefings by John Johnson (CEO CRU China), will focus on these important developments by explaining why this is happening now and the likelihood of success. In subsequent Briefings, CRU will speculate about what the Chinese st

Nucor Corporation announced today that it has purchased a minority equity position in the parent of Trion Coatings, LLC (Trion Coatings), which is developing an environmentally friendly chrome plating technology. As part of its investment, Nucor is working with Trion Coatings to commercialize the technology and will be constructing a pilot facility at Nucor Fastener in St. Joe, Indiana. Nucor also holds an exclusive worldwide license agreement for the technology as applied to long s