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Steel Industry News - June 2008
Indonesia's Krakatau Steel returns to profit
Mon 30 Jun 2008
JAKARTA, June 30 (Reuters) - Indonesia's state owned steel-maker, PT Krakatau Steel, returned to profit last year on the back of stronger sales revenue, the company reported on Monday.
Russian steel and metals production
Thu 26 Jun 2008
Russia, the world's second-largest oil exporter behind Saudi Arabia and supplier of a quarter of Europe's gas needs, is also one of the world's largest steel and metals producers.
South Korean steel plate increases in the pipeline
Tue 24 Jun 2008
SOUTH KOREAN shipyards will feel the pinch when long-expected steel plate price increases are announced this week.
A banking source in Seoul, South Korea’s leading steel mills will announce higher than expected increases in the price of...
Miners to add 20 million tons steel capacity in five years
Fri 20 Jun 2008
NEW DELHI: Merchant miners plan to add 20 million tons of steel capacity in the country within five years at an investment of about Rs 80,000 crore, an industry official on Thursday said.
Russian steel export duties unlikely
Thu 19 Jun 2008
MOSCOW, June 19 (Reuters) - Russian government officials have opposed a request for steel export duties by oil firms that have complained of high domestic prices for steel pipes, Vedomosti business daily reported on Thursday.
ArcelorMittal acquires Bayou Steel for $475 mn
Tue 17 Jun 2008
Global steel major ArcelorMittal has acquired US-based Bayou Steel, a producer of structural steel products, for $475 million. The transaction is subject to regulatory approvals.
Erdemir shares jump as ArcelorMittal raises stake
Mon 16 Jun 2008
ArcelorMittal (ISPA.AS: Quote, Profile, Research, Stock Buzz), the world's largest steelmaker, bought a 11.31 percent stake in the Turkish steel company Erdemir, bringing its total ownership to 24.9 percent and sending Erdemir shares sharply higher.
At...
ThyssenKrupp says 'bold step' into America warranted
Fri 13 Jun 2008
Construction begins this year on ThyssenKrupp's huge investment in America, which is now 28% more expensive that previously announced and includes a stainless steel meltshop. A TK executive says the investment should pay strong dividends.
HOT ROLLED STAINLESS STEEL COIL PRICE FORECAST
Thu 12 Jun 2008
HOT ROLLED STAINLESS STEEL COIL
Transaction values for grade 316 moved up again this month in all regions. Another alloy surcharge rise occured in North America. In the EU, basis figures reduced but offset only 53 per cent of the surcharge...
Sinosteel's Midwest stake close to 45 pct - source
Wed 11 Jun 2008
Chinese metals trader Sinosteel is close to raising its stake in Australian takeover target Midwest Corp (MIS.AX: Quote, Profile, Research) to about 45 percent, a source familiar with the situation said on Wednesday.
JSW steel reports 19% growth in crude steel
Tue 10 Jun 2008
JSW Steel Ltd of JSW group, an arm of O P Jindal group has posted 19 per cent growth in crude steel production at 3.47 lakh tonnes in May 2008 as compared to the corresponding period last year.
S.Korea steel output to top 70 mln tonnes by 2010
Mon 9 Jun 2008
South Korea's iron and steel production capacity is estimated to reach 70.53 million tonnes a year by 2010, up 18 percent from the current 59.82 million tonnes, an industry association said on Monday.
North American average stainless steel prices - Latest forecast from MEPS
Fri 6 Jun 2008
Transaction values for type 304 are forecast to be relatively stable in June. The Alloy surcharge is predicted to fall marginally, with basis figures expected to be unchanged. End users will, almost certainly, reduce their purchases next month in anticipation...
No steel price curb after three months
Wed 4 Jun 2008
NEW DELHI, June 3: Steel makers will honour their commitment to the Prime Minister, Dr Manmohan Singh to hold prices for three months, but rates will go up thereafter, vice-chairman and managing director of JSW Steel, MR Sajjan Jindal said, after taking...
Steel demand to stay high despite global slowdown
Wed 4 Jun 2008
World steel market will remain strong while global steelmaking capacity will rise from 1,560 million tonnes in 2007 to 1,849 million tonnes in 2010, representing an 18.6 per cent increase, the OECD's steel committee meeting in Paris said in a release.
Despite...
China steel group sees iron ore deal by end-June
Mon 2 Jun 2008
The looming June 30 deadline has increased the pressure on China's steel makers.
"This has never really ever happened before, but the prices also have never been this high before and the Aussies have never before demanded this much,"...
