Minyuan I&S Group in Shandong, China, ordered from Danieli a new mill for 12- to 40-mm rebar, produced at up to 240 tph from a 165-mm, 2,300-Kg billet.   The main equipment to be installed includes four SHS housingless stands followed by two four-pass finishing blocks. Through an advanced multi-strand slit-rolling system, rebars from 12 to 22 mm will be rolled on two strands at finishing speed higher than 40 mps. On-line water-cooling system will ensure a final product

Alcoa Corporation, a global leader in bauxite, alumina, and aluminum products, today announced that it has amended its joint venture with the Saudi Arabian Mining Company (Ma’aden) in which Alcoa holds a minority, 25.1 percent stake. The joint venture was created in 2009 as a fully integrated aluminum complex in the Kingdom of Saudi Arabia, comprised of three entities: the Ma’aden Bauxite and Alumina Company (MBAC; the bauxite mine and alumina refinery), the Ma’ade

SteelSummit Holdings, a leading national metals service center and trading company, today announced the acquisition of Magic Steel Sales. Terms in the all-cash deal were not disclosed. With approximately $200 million in sales, Magic Steel Sales is a leading steel service center company headquartered in Grand Rapids, Michigan. The company was founded in 1974 by Joe Maggini and operates service centers in Grand Rapids, Michigan and Decatur, Alabama. "We are very excited

System Seals Inc., a research-based seal manufacturer, has acquired Plastoseal Produktions GmbH, an Austrian-based seal manufacturer focused on highly engineered sealing solutions. The acquisition enhances System Seals' GlobalOne program – a comprehensive approach to managing supply chain logistics for seal customers worldwide. System Seals and Plastoseal are leaders in advanced seal design with the goal of reducing the total cost of equipment ownership for OEMs, end users

After successfully completing the commissioning of its new horizontal straightening machine, Hyundai Steel has awarded SMS group a follow-up order for the revamp of its Incheon heavy section mill in South Korea. With this revamp Hyundai Steel aims to expand its product range towards larger sections with webs of up to 1,100 millimeters and sheet piles up to a system height of 800 millimeters. SMS group takes up this challenge as the leader of a consortium with Hyundai Rotem, a subsid

Insteel Industries, Inc. announced that its third quarter 2019 earnings conference call will be webcast live over the internet on Thursday, July 18, 2019 at 10:00 a.m. ET following the release of the Company's third quarter financial results at 6:30 a.m. ET on that same day. The conference call can be accessed on the Company's website at https://insteelgcs.gcs-web.com/company-news/events-and-presentations and will be archived for replay. About Insteel

Steel Dynamics, Inc. provided second quarter 2019 earnings guidance in the range of $0.86 to $0.90 per diluted share.  Comparatively, the company's sequential first quarter 2019 earnings were $0.91 per diluted share and prior year second quarter earnings were $1.53 per diluted share. Second quarter 2019 earnings from the company's steel operations is expected to decrease in comparison to sequential first quarter results.  Although average product pricing declined a

Fujian Luoyuan Minguang Iron and Steel Co., Ltd., located in Luoyuan County, member of the Sangang Group, PR China, has awarded SMS group GmbH the order to supply a new section mill for parallel flange beams up to 750 millimeters web height. The new section mill will enable Fujian Luoyuan Minguang Iron and Steel to broaden their product portfolio and to respond to the high demand for beams in the region and in the People's Republic of China. The section mill will be desi

Zion Market Research has published a new report titled “Tool Steel Market by Material (Tungsten, Vanadium, Molybdenum, and Chromium), by Product Class (Cold-Work, High Speed, Hot-Work, Plastic Mold, and Others), by Application (Injection Molding, Forging, Die Work, and Others), and by End-Use (Automotive Parts, Food and Packaging, Aerospace, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global tool st

Sanjeev Gupta’s Liberty Steel, part of the global GFG Alliance, further expanded its footprint in the U.S. steel downstream products market today with the acquisition of Johnstown Wire Technologies (JWT) in Johnstown, Pennsylvania, the largest producer of value-added carbon and alloy wire in North America. The acquisition from private investment firm, Aterian Investment Partners, was financed by group equity along with loans from PNC Business Credit and gives Liberty valuable