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Brazil's steel industry may have problems meeting domestic demand

Brazil may face steel supply problems this year.
Brazil's steel industry may have problems meeting domestic demand this year as there are no planned capacity increases, O Estado de S. Paulo said on its Web site, citing Christiano da Cunha Freire, president of the National Institute of Steel Distributors.>

EU opens probes into imports of steel wires, candles from China

EU launches anti-dumping investigations into Chinese candles, steel.
The European Commission said it had launched anti-dumping investigations into candles and certain steel products imported from China. Several European candle producers, including Germany's EIKA and the Netherlands' Bolsius, lodged a complaint to the commission on Jan. 3, alleging Chinese candles flooded the EU market and had a negative impact on the European indu (...)>

India seeking to be number one steel producer in the world

India: Steel Minister Paswan lays foundation stone for steel plant expansion.
Steel Minister Ram Vilas Paswan laid the foundation stone of the Rs 11,262-crore expansion and modernisation project of Bhilai Steel Plant in Chhattisgarh. "We want to become number one steel producer in the world. This can be possible with the cooperation between Government and the workforce," he said at the function at Bhilai in Durg d (...)>

Bluescope finalises acquisition of US steel producer

Bluescope buys US steel products maker.
Australia's largest steelmaker BlueScope Steel has expanded its North American presence, acquiring US steel products maker IMSA Steel Corp from Luxembourg-based steel producer Ternium SA for about $US730 million ($A816.05 million). IMSA Steel Corp has four businesses with 20 manufacturing facilities throughout the US.>

India's JSW Steel signs a jv agreement with Chile's Minera Santa Fe

JSW Steel in jv with Chile's Minera Santa Fe; plans to invest 500 mln usd.
India's JSW Steel Ltd said it has signed a joint venture agreement with Chile's Minera Santa Fe to develop iron ore mines and port projects in Chile and South America. Minera Santa Fe is controlled by Chilean entrepreneur Leonardo Farkas Klein, JSW Steel said in a regulatory filing.>

IISI reports: China's steel output was first in 2007

IISI: China's steel output ranks first in world in 2007.
According to China news agency, on January 24, the Brussels-based International Iron and Steel Institute (IISI) revealed that with 489 million tons of steel, China was once again the world's largest producer of crude steel in 2007. However, including China, the EU, the CIS and the United States, major steel-producing countries and regions are slowing crude steel output growth.>

The effects of global recession on steel industry

Global recession will hit steel demand. by As Firoz

The global stock market crash and the ongoing turmoil are indication of a wide spread and larger than expected economic slowdown. There is already a consensus among experts that the world will see an economic slowdown. What is being debated currently is what will be the extent of this. There are no doubts also that a global economic recession will hit the steel industr (...)>

Kazakhstan plans to build a new aluminium smelter and a $1.2 billion steel plant

Kazakhstan plans new aluminium, steel plants.

Kazakhstan plans to build a new aluminium smelter and, separately, a $1.2 billion steel plant, senior industry officials said.
Kazakhstan operates one aluminium smelter, launched in December last year, as well as a steel plant run by Arcelor Mittal. >

EU steel industry warns Brussels on climate plan.

EU steel industry warns Brussels on (...)>

Tata Steel facing new challenges
Tata Steel bracing up for expansion challenges.

India's oldest and largest private steel company, Tata Steel, is gung-ho about growth. It plans to hike its steel making capacity to 43 million tonnes. However, this expansion will happen only if it finds the mines. Tata Steel is churning out metal like never before to tap an ever increasing demand for steel in India. In the last six years, the demand for steel in India has gro (...)>

US sets duties on steel nails from China and UAE
U.S. Government imposes antidumping duties on some steel nails from China and United Arab Emirates.
The United States Department of Commerce announced the imposition of antidumping duties on imports of certain steel nails from China and the United Arab Emirates, according to five U.S. nail manufacturers and the USW International Union. The Commerce Department calculated preliminary antidumping margins ranging from 20.77 percent (...)>

Evraz Group buys 93.4% of the US company Claymont Steel
Evraz Group buys into Claymont Steel.
Evraz Group S.A.'s subsidiary Titan Acquisition Sub, Inc. has received an approval from the US steel producer Claymont Steel Holdings, Inc. shareholders to buy 16,415,722 shares, or 93.4 percent of the US company's share capital, the Russian steel and mining group stated in a press release. >

German steel production hit a record high in 2007
German crude steel output hits record high in 2007.
German steel production hit a record high in 2007 since the country was reunified, increasing 2.8 percent to 48.55 million tonnes of crude steel, official statistics revealed. The gain was in line with the German steel industry association's forecast of 48.6 million published in early October.>

Nucor to enter beam venture with Duferco
Nucor and Duferco to start joint venture.

Nucor Corp. has agreed to form a joint venture with Switzerland's Duferco Group by the middle of the year. The equal partnership will manufacture steel beams in Italy and distribute them in Europe and North Africa. Financial terms weren't disclosed. The final agreement creating the new venture will depend on regulatory and both boards of directors approving the plan. There is n (...)>

Huge energy subsidies fuel China steel export-study

Huge energy subsidies fuel China steel export-study. By Doug Palmer

WASHINGTON (Reuters) - Massive gov (...)>

Danube invests AED 100 million in the UAE steel industry
Danube to invest AED 100 million in the UAE steel industry in 2008.

Danube Building Materials, a leader in the construction, building materials, and shop fitting industry, has announced its plans to invest AED 100 million in the UAE steel industry in 2008, a move which is set to render steel as one of the largest segments of its business. This is in line with the company's aim to leverage the burgeoning demand within the (...)>

Big capital raising to set vanadium mining project on course

Big capital raising to set vanadium mining project on course. Ross Louthean

Perth-administered Windimurra Vanadium Ltd (ASX:WVL) has had (...)>

Christmas shopping for Mittal: buys 2 firms, in Europe and LatAm
ArcelorMittal takes over Austrian, Uruguay steel firms.

ArcelorMittal, the world's largest steel producer, announced it has acquired Austrian steel distributor Eisen Wagner GmbH, and Uruguay-based steel tube producer Cinter SA.

The agreement to wholly take over Eisen Wagner was aimed at enhancing ArcelorMittal's Central European presence.
Eisen Wagner, one of Austria's (...)>

Sumitomo Metal says plans Vietnam plate venture
Sumitomo Metal and China Steel plan joint venture. by Yuko Inoue
Sumitomo Metal Industries Ltd, Japan's third-biggest steel maker, and its Taiwanese partner China Steel Corp said they plan to form a joint venture to produce steel plate in Vietnam. The total investment will exceed $1 billion, the Japanese company said.>

BlueScope Steel agrees to buy IMSA Steel Corp
Bluescope Steel buys US firm for $850m.
Australia's largest steelmaker, BlueScope Steel Ltd, has expanded its footprint in North America through the $US730 million ($A851.86 million) purchase of IMSA Steel Corp.
BlueScope will acquire IMSA from Luxembourg-based steel maker Ternium, delivering the company four businesses with manufacturing facilities throughout the United States.>

Tata Steel will invest $1.5 bn in Ivory Coast JV
Tata Steel in JV for development of iron ore deposits in West Africa.
Tata Steel Ltd and SODEMI have entered into an agreement for the development of Mount Nimba Iron ore deposits in Ivory Coast, West Africa.
The project will be implemented by a joint venture company, wherein Tata Steel will hold majority stake. The initial phase will involve exploration and detailed feasibility assessments followed by construction of the mine and (...)>

Arcelor Mittal agrees takeover deal with Chinese steel maker
China Oriental agrees to takeover.
Arcelor Mittal, the world's largest steel maker, agreed to take over China Oriental Group Co to gain a foothold in the fastest growing steel market, valuing the company at a minimum HK$18.6bil (US$2.4bil).
Arcelor Mittal, which holds 28% of Hong Kong-listed China Oriental, offered at least HK$6.355 a share for all the stock it did not own, the Luxembourg-based company said in a statement. That i (...)>

Russian steel maker Evraz to acquire Claymont Steel
Evraz Group buys 100% of Claymont Steel.
Russian Evraz Group S.A., one of the largest vertically-integrated steel and mining businesses, and its subsidiary Titan Acquisition Sub. Inc. have announced they have reached the final agreement on purchase of Claymont Steel Holdings, Inc.
Under the terms of the deal Evraz will pay US$23.5 for each share of Claymont Steel, which exceeds its average cost by 19.1% for the past three months. T (...)>

Russia: Novolipetsk buys controlling stake in Maxi Group
Russian steel maker NLMK buys $600 mln Maxi stake.
Russia's Novolipetsk Steel agreed to pay $600 million for control of indebted steel maker Maxi Group, giving it increased access to the fast-growing market for construction steel in Russia. Novolipetsk, Russia's fourth-largest steel maker by volume, said in a statement it would pay two instalments of $300 million to acquire 50 percent plus one share from Maxi Group founder Nikolai Max (...)>

The press has recognized the efforts of wiredrawing.net
Lecco's newspaper "La provincia" recognizes the achievements and commitment of wiredrawing.net.
With 90 expositors, the network is expanding rapidly into the European market.
(...)>

Indian steel producers have to get their products ISI certified
India: steel products will now be ISI certified.
Indian steel producers will hitherto have to get their products ISI certified before selling them, failing which they would draw penalty under the Bureau of Indian Standards Act, 1986, according to a notification issued by the government.
"On the proposal of the Steel Ministry, the Ministry of Consumer Affairs has issued an order Steel and Steel Products (Quality Control) Order 2007 (...)>

News from wire Düsseldorf 2008: Brazil's wire industry

wire Düsseldorf 2008: Brazil and the wire and cable industry.

It would be impossible to imagine industry and daily life without wire and the products manufactured from it. The wire and cable industry is correspondingly important and generates a worldwide business volume, which according to statements by the "Confederation of Indian Industry" (CII), was estimated at 20 billion US$ in 2005 and is expected to (...)>

Tata Steel charts new structure
Tata Steel to have new organisational structure.
As part of its ambition to become one of the top steel companies in the world, Tata Steel announced its decision to put in place from January 1, 2008 a new organisational structure.
A company statement said that the new organisation became necessary as the Tata Steel group now has two entities since the Corus takeover. One is Tata Steel (including Tata Steel Thailand and Natsteel Asi (...)>

Shareholders approve Wheeling-Pittsburgh-Esmark deal
Wheeling-Pittsburgh Steel joins Esmark family.
Steel distribution firm now has a mill, too.
by Tom Stundza
Shareholders of Wheeling-Pittsburgh Steel's parent company approved the steelmaker's takeover by steel distributor Esmark. Jim and Craig Bouchard, the brothers behind Chicago-based Esmark, will add the West Virginia-based steelmaker to their distribution business that serves about 2,000 customers in the Midwest. (...)>

Arcelor Mittal to form auto steel JV with China's Valin
Arcelor Mittal eyes auto steel JV with China's Valin.
Arcelor Mittal plans to set up an auto steel joint venture in China, in which it will take a 30 percent stake, with Hunan Valin Steel Tube and Wire Co Ltd and its parent, a Chinese executive said.
Arcelor Mittal, the world's biggest steel maker, would also establish a stainless steel joint venture with its Chinese partners, said Li Jianguo, president of Hunan Valin Iron and St (...)>

Brazilian Gerdau acquires Quanex's steel business
Brazilian Gerdau acquires Quanex's steel business.
Brazilian steelmaker Gerdau signed an agreement to acquire the steel business of Quanex Corporate, a U.S.-based manufacturer of engineered materials and components for vehicles.
The total cost of the transaction is 1.5 billion U.S. dollars. Gerdau said that it offered 39.20 dollars per share to acquire Macsteel, the steelmaker controlled by Quanex, which operates three steel plants (...)>

China condemns BHP Billiton’s plan to take over Rio Tinto
China’s biggest steel group adds voice to global chorus against Rio-BHP deal.
by Carl Mortished
China has condemned BHP Billiton’s plan to take over Rio Tinto, its rival mining giant, as the creation of “an even bigger monopoly”.
The steelmakers of the People’s Republic have added their voices to a worldwide chorus of protest against BHP Billiton’s project, which they fear would enable the two companies to corner the A (...)>

Japan steel association opposes BHP-Rio merger
Steel firms oppose BHP-Rio deal.
The proposed merger between Anglo-Australian mining giants BHP Billiton and Rio Tinto has been criticised by Japanese steelmakers.
Hajime Bada, chairman of the trade group Japan Iron and Steel Federation, said the merger could "impede a healthy market price mechanism" for iron ore. Mr Bada, who also heads JFE Steel, the world's third-largest steelmaker, said he would meet BHP Billiton later. Rio T (...)>

Steel Minister claims India will be 2nd largest steel maker by 2016
"India to be 2nd largest steel maker by 2016".
Steel Minister Ram Vilas Paswan said the country is set to become the world's second largest producer of steel before 2015-16, and the sector is likely to witness an investment of Rs 8,70,640 crore by 2020.
"During 2006, India emerged as the fifth largest crude steel producing country in the world, and is set to become the second largest global steel producer before 2015-16," Paswan (...)>

Posco ready to invest $5.8 bln in Vietnam
South Korean steel giant to invest $5.8 bln in Vietnam.
Posco of South Korea, the world's third largest steel producer, is seeking the Vietnamese government's support to build a steel facility and coal-fueled power plant in central Vietnam with total investment of 5.8 billion U.S. dollars.
Posco would complete a feasibility study by early next year - the planned time for its president's visit to Vietnam, according to local newspa (...)>

Arcelor Mittal sees no halt to global steel industry growth
ArcelorMittal sees no halt to growth.
The world's biggest steelmaker, ArcelorMittal, sees no slowing of global growth in the steel industry, chief executive Lakshmi Mittal said in an interview.
"I do not see the steel industry losing speed, quite the contrary," Mittal told the newspaper Die Welt, adding that according to forecasts, the industry would grow worldwide by three to five per cent in the next 10 years.>

Nippon Steel & China's Baosteel to further deepen ties
Baosteel and Nippon Steel aim to strengthen ties. by Yuko Inoue
Nippon Steel Corp and Baosteel Group Corp are strengthening their ties to compete against ArcelorMittal and protect against takeovers in the consolidating global steel industry.
The Japanese and Chinese companies, the world's second and fifth-biggest, also said they would build a 450,000 tonnes-a-year automotive sheet line at their Shanghai plant by 2010, b (...)>

Essar Steel completes buyout of US-based Minnesota Steel
Essar completes acquisition of Minnesota Steel.
Essar Steel Holdings, part of the Ruia-controlled Essar Global, said that it has completed the acquisition of Minnesota Steel, a US-based steel company with estimated reserves of over 1.4 billion tonne of iron ore.
Minnesota Steel will begin the project soon after achieving financial closure, a statement said.
>

EU could do more to improve Chinese product safety
EU to help China boost steel production efficiency.
The European Union will work with China to boost steel production efficiency here, EU official Heinz Zourek said after holding talks with the National Development and Reform Commission (NDRC) in Beijing.
The Chinese government has prioritized more environmentally-friendly, sustainable production to better support its rapid economic growth.>

Nippon Steel and Posco to form recycling JV in S. Korea
Posco and Nippon Steel form joint venture.
Posco and Nippon Steel formed a joint venture to recycle iron products, broadening the companies' alliance to try and fend off rivals such as ArcelorMittal.
The two will invest about $140 million to build two furnaces in South Korea, Posco said in a regulatory filing. Posco, the third-biggest steel maker in Asia by output, will own 70 percent and Nippon Steel, the second largest mill i (...)>

China: Arcelor Mittal acquires majority stake in Rongcheng Chengshan Steelcord
US tire maker sells interest in Chinese company.
Cooper Tire & Rubber Co, the second-largest US tire maker, sold its 25-percent interest in a Chinese producer of wire used in car tires to ArcelorMittal for US$7.4 million.
Cooper was one of several stakeholders in Rongcheng Chengshan Steel Cord Co in Shandong.>

Indian stainless steel producers plan to raise their exports to Brazil
India/ Steel producers plan to raise exports to Brazil.
Indian stainless steel producers are planning to raise their exports to Brazil next year in view of its growing market potential.
Quoting an official from Mumbai-based Hindustan Stainless, Steel Business Briefing (SBB) reported that the company intended to lift its exports of bright bars and wire rods to Brazil by 15 per cent.>

IISI lifts forecast for 2008 global steel demand
IISI forecasts: Global steel demand to rise again in 2008. by Michael Hogan and Christiaan Hetzner
Higher demand in Brazil, Russia, India and China is set to drive global steel consumption up 6.8 percent in 2008, world steel industry association IISI forecast on Monday, raising its outlook despite financial market turmoil.
"Although global economic risks have increased, the IISI forecast assumes that the recent credit mar (...)>

EC probes write-off for Mittal steel unit
EU investigates Romanian state aid to Mittal Steel Roman.
The European Commission announced in a press release that it has opened an investigation regarding a possible state aid given by Romanian authorities to Mittal Steel Roman factory. The sum supposedly amounts to 26 million euro.
EC experts declare they want to investigate whether Romanian authorities have breached the EU treaty regarding state subsidies in the privatization p (...)>

An analysis about Asia and its increase in stainless steel production

Steel: building on Asia’s strengths.

Increasing demand for stainless steel has been witnessed from users across construction, transport and several industrial sectors, and s (...)>

About Russia's assault to the U.S. market

Russia's steel wheels roll into America.

(...)>

Finland: steel maker Outokumpu invests €550 million in Sweden
Finnish stainless steel maker Outokumpu invests €550 million in Swedish unit.
HELSINKI, Finland: Finnish metals and technology group Outokumpu Oyj said Monday it will invest €550 million (US$760 million) to more than double stainless steel production in Sweden.
The investement, due to be carried out over three years, will increase annual output at Avesta Works from 250,000 tons to 650,000 tons by 2010, the world's second-largest stainles (...)>

Nucor to Acquire Nelson Steel
Nucor to buy Nelson Steel for $54M.
Steelmaker Nucor Corp. said it agreed to buy Nelson Steel Inc. for $54 million to expand its wire mesh business. New Salem, Pennsylvania-based Nelson has about 80,000 tons of capacity and 120 workers. The deal is expected to close in the fourth quarter and grow earnings "immediately," though Nucor did not say by how much.>

Severstal net profit more than doubles
Severstal's profits double on Russia's demand for steel.
Severstal said its first-half net profit more than doubled, thanks to a strong performance by its domestic steelmaking operations and strong global steel prices. Despite the stronger-than-expected performance, the Russian steelmaker didn't change its forecasts for the rest of the year. Severstal said with "current market conditions underpinned by strong Russian economic growth" and "pri (...)>

China: Baosteel seeks expansion
China's Baosteel to double output.

BAOSTEEL Group, China's biggest steel maker, plans to more than double its steel capacity to 80 million tonnes by 2012, closing the production gap on the top global mill, Arcelor Mittal.

Baosteel, which has a capacity of 30 million tonnes, will grow in China and overseas through acquisitions, the Shanghai-based company said.
It plans to increase sales to $US50 billion ($A61 billion) and p (...)>