Iron & Steel Industry News

Workers Struggles Asia Australia and the Pacific
Sat, 25 May 2013 05:43:00 +0100
Permanent and contract employees at privately-owned Brahmani Steel protested outside the Revenue Division office in Kadappa on May 20 to demand payment of six months' outstanding wages. Management told workers that they would be paid if they accepted voluntary retirement. The workers, who had been employed at the company for at least six years, rejected the "offer" and submitted a ...


9 dead 1 missing in E China colliery flood
Sat, 25 May 2013 04:25:00 +0100
Nine people were killed and one person remain missing after a coal mine was flooded Thursday in Zhangqiu in east China's Shandong Province, local authorities confirmed Saturday. According to reports from locals on Friday, a coal mine flood occurred around 9 a.m. Thursday at a mining site allegedly under illegal operation in the city of Zhangqiu, said the press office with the Jinan ...


AK Tube Plant Recognized for Outstanding Safety ...
Fri, 24 May 2013 20:50:00 +0100
PR Newswire - WEST CHESTER, Ohio, May 24, 2013 /PRNewswire/ -- The Walbridge, Ohio plant of AK Tube LLC, a subsidiary of AK Steel (NYSE: AKS), has been recognized for outstanding safety performance by the Ohio Bureau ...


Jindal to expand steel output, buy mines in West Africa
Fri, 24 May 2013 18:25:32 +0100
By Silvia Antonioli LONDON (Reuters) - Mid-sized producer Jindal Steel and Power (JNSP.NS) hopes to quadruple steel output by 2016 to cash in on an infrastructure boom in the world's second most populous ...


Glencore Xstrata Kicks Off 4bn Mining Sale - Sky News
Fri, 24 May 2013 15:52:06 +0100
The mining and commodities group created by the recent merger of Glencore and Xstrata is kicking off the sale of a £4bn Peruvian project demanded by China's government to secure approval for their deal. Sky News understands that Glencore Xstrata has ...


Update: ArcelorMittal probes cause of accident
Fri, 24 May 2013 14:39:38 +0100
COATESVILLE Three people were hospitalized, two in critical condition, when a furnace exploded late Thursday at the ArcelorMittal steel mill off South First Avenue. Sources said water leaked into a 3,000-degree furnace containing molten steel ...


Sensex ends four-day losing streak; GDP, flows on watch
Fri, 24 May 2013 12:30:55 +0100
By Abhishek Vishnoi MUMBAI (Reuters) - The BSE Sensex snapped a four-day losing streak to edge higher on Friday, rebounding as Tata Steel surged after its March-quarter operating profit beat analyst estimates ...


Tata Steel surges; Q4 operating profit beats f'cast
Fri, 24 May 2013 07:53:50 +0100
MUMBAI (Reuters) - Tata Steel Ltd(TISC.NS) shares rose as much as 6.65 percent on Friday after its January-March quarterly operating profit beat analyst estimates. Brokerage IDFC estimated Tata Steel posted ...


Tata Steel stock gains: How brokerages analyse Q4 earnings - Moneycontrol.com
Fri, 24 May 2013 06:55:00 +0100
The firm has assigned an 'underperform' rating on Tata Steel stating that its India's margins is likely to decline due to lower domestic steel prices, inelastic costs and as part of the fourth quarter cost decline may not sustain. BoAML also adds that ...


ArcelorMittal has the Lowest Forward Earnings Yield in the Steel ...
Fri, 24 May 2013 03:44:52 +0100
May 24, 2013 (SmarTrend(R) News Watch via COMTEX) -- Below are the three companies in the Steel industry with the lowest forward earnings yields. Using projected earnings for the current fiscal year, the forward earnings yield is useful to ...


Novelis Wins "CEO" and "Company of the Year" ...
Thu, 23 May 2013 23:17:00 +0100
LONDON, May 23, 2013 /PRNewswire/ --It was a dual win for Novelis Inc. at the inaugural Platts Global Metals Awards , which recognize exemplary performance in nearly a dozen categories spanning the entire ...


China's Steel Overcapacity Seen Continuing
Thu, 23 May 2013 22:21:19 +0100
Serious overcapacity in China's steel industry is unlikely to ease in 2013, which could hamper steel prices and jeopardize Chinese steelmakers' performance, a China-based analyst said Thursday.


Preliminary Steel Imports Increase 4% in April
Thu, 23 May 2013 20:08:56 +0100
Based on preliminary Census Bureau data, AISI reported today that the U.S. imported a total of 2,680,000 net tons (NT) of steel in April.