Russian steelmaker Severstal has announced it quitted from the Indian joint venture plant project, which result to the future direction of the project is unknown. Severstal Group is already the third foreign-funded enterprises quit India steel construction projects this year. Earlier, South Korea’s POSCO abandoned Karnataka construction plans because land acquisition problem. The ArcelorMittal because…
Category: steel news
Hyundai Steel plans merger with Hysco to reduce costs and enhance competitiveness
South Korea’s second-largest steel manufacturer Hyundai Steel has said, they were planning merger with Hyundai Hysco to take over the latter’s core rolled and coated sheets business, which intended to reduce financial costs and improve profitability. Hyundai Steel is expected to complete the merger in December 31 of this year, Hysco will hold Shareholders’ meeting…
Worldsteel: Global steel consumption will increase 3.1% in this year
Recently Worldsteel released this year of global steel short-term demand prospect, expected global steel consumption increase 3.1%, reached 1.475 billion tons, 2014 will increase 3.3 %, reaching 1.523 billion tons. Hans Jurgen Kerkhoff, who is responsible for economic research in Worldsteel said, the main risk of the global economy is euro zone debt crisis and…
Analysis of Chinese steel exports to ASEAN
ASEAN market demand for steel strong, but due to the local iron and steel industry is weak, the ASEAN countries mainly rely on imports to meet demand of steel. 2012, ASEAN surpass South Korea to become China’s largest steel exporter. 2013 January-July Chinese steel exports to ASEAN situation Latest Customs statistics show, 2013 January-July, China’s…
Chinese iron ore imports continue to rise, Korea and Japan lack of resources
World iron ore trade formed by Australia, Brazil, India to China, Japan, the EU etc. countries and regions of transportation pattern. Japan, South Korea, Britain, Italy etc. major steel producing countries completely depend on imports of iron ore; China due to the scale of steel production more than its own iron ore resources offer, which…
Energy Transition of German steel mills
Around the sustainable development of the German economy, Germany’s Energy Transition has been a hot topic in political and public life. While the big trend of the energy-saving and emission reduction is bound to challenge industrial’s development, especially the energy-consuming industrial. It is also required by the European energy policy and climate policy. German steel…
Russia’s steel enterprises face increasing competition
As an inherent advantage gradually fades out, Russian steel enterprises will face a new challenge in the future. AndreyLaptev, Severstal steel company strategy director, said in order to maintain its attractiveness to investors, the Russian steel enterprises not only need to have the ability to provide pre-tax profits, but also need to guarantee to enterprise capital holder…
Japanese steel mills will reduce the cost and improve the quality
Japan’s largest steel manufacturer NSSC Company (NSSM) plans to close the factory’s the most old-fashioned one of three blast furnaces in Kimitsu in fiscal year 2015, Kobe Steel in 2017 fiscal year; the company will close the plant in Kobe the only one blast furnace. As for NSSC companies, the optimization of production is the…
Chinese steel exports to the US reduced substantially
Hit by series of trade survey, China’s steel pipe producers who exports the steel pipe to the U.S. was drastically shrinking; Chinese other steel products export to the U.S. also began its dramatic decrease from 2009. Recently, the U.S. International Trade Commission issued a notice that the thin-walled rectangular steel which was originating in China,…
Serious global steel overcapacity
Currently, the global steel overcapacity is long-term structural problems, not the market a cyclical problem, steel industry leaders need strong initiatives to reduce excess capacity, otherwise the steel industry can’t be reborn. Morgan Stanley’s research data shows that global excess steel production capacity is estimated 334 million tons, of which China about 200 million tons…