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News

The new finishing line at IJmuiden steelworks. Photo: Tata Steel
The new finishing line at IJmuiden steelworks. Photo: Tata Steel
9/19/2014 - IJmuiden steelworks

Tata Steel opens new automotive finishing line

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Tata Steel has opened a new finishing line at its IJmuiden steelworks in the Netherlands to strengthen the supply of high-value steels to the automotive sector and other markets. Tata Steel invested 12 million € in Finishing Line 32, which will process up to 400 000 t of galvanised (corrosion resistant) steel coil a year. Henrik Adam, Tata Steel’s Chief Commercial Officer, said: “This investment will enable us to improve the supply of high-quality steels to customers while also improving delivery times.

Source: Tata Steel, London
9/19/2014 - Institutional investors

Outokumpu will issue € 250 million bond

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Outokumpu will issue a € 250 million senior secured bond mainly to institutional investors. The bond matures on September 30, 2019 and it carries a fixed coupon interest rate of 6.625 percent per annum, payable semi-annually. The bond is callable before its final maturity.

Source: Outokumpu Oyj, Espoo
Example of Linen 25. Photo: Outokumpu
Example of Linen 25. Photo: Outokumpu
9/17/2014 - Baosteel’s head offices

Outokumpu creates special surface with an 800-t stainless steel façade

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SKS, a joint venture between Outokumpu and Baosteel Group in China, is delivering over 800 t of high-quality cold-rolled stainless steel plate for the cladding of Baosteel’s landmark head offices in Shanghai and Guangzhou in China. Baosteel’s head office in Shanghai includes three buildings with a total façade area of some 48 000 m2. In Guangzhou, the main building of Baosteel’s southern headquarters will be 140 m tall. Both projects began last year and are expected to be completed in 2016.

Source: Outokumpu Oyj, Espoo
9/16/2014 - Flat-rolled products mill

Nucor to acquire Gallatin Steel

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Nucor Corporation announced that it has entered into an agreement to purchase all the equity of Gallatin Steel Company for a cash purchase price of approximately $770 million. Adjusting for the net present value of the anticipated tax benefits, the realized effective purchase price for Nucor is approximately $630 million.

Source: Nucor Corporation, Charlotte, N.C.
9/16/2014 - Chrome mine in Kemi, Finland

Outokumpu's Kemi mine celebrates 50-year anniversary

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This September it will be exactly 50 years since Outokumpu made the decision to begin mining operations in its chrome mine in Kemi, Finland. The deposit had been found five years earlier by a local diver, Martti Matilainen. The mining began in 1967, with large-scale mining operations and ferrochrome production to begin next year. Chrome mine and ferrochrome works were the first steps in Outokumpu’s journey to become the leading stainless steel producer in the world. Today the Kemi mine employs 400 people, and on top if this the nearby ferrochrome works and stainless steel mill in Tornio employ some 2 000 people.

Source: Outokumpu Oyj, Helsinki
9/15/2014 - The Material Works

SMS Siemag to provide EPS Pickling Lines

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The Material Works, Ltd. (TMW) and SMS Siemag AG (SMS) have entered into an agreement whereby SMS may offer, design, build and install processing lines incorporating Eco Pickled Surface (EPS) Cells for descaling carbon and stainless coiled strip steel. Under terms of this agreement, TMW, or one of its designated manufacturers of EPS Cells, will supply completed cells and associated technical and support services to SMS for integration into SMS strip pickling lines anywhere in the world. 

Source: The Material Works, Ltd., Red Bud, Illinois
9/12/2014 - Engineered bar products

Nucor promotes Dave Sumoski to Executive Vice President

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Nucor Corporation announced that Dave Sumoski, Vice President and General Manager of Nucor Steel Memphis, Inc., will be promoted to Executive Vice President of engineered bar products, which includes special bar quality (SBQ) and cold finish businesses, effective September 14, 2014.  Jim Darsey, who has served as Executive Vice President of bar products since 2010, will continue to focus on merchant and rebar products.

Source: Nucor Corporation, Charlotte, N.C.
9/12/2014 - Stockholm

Resolutions adopted at SSAB’s Extraordinary General Meeting

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It was resolved that the Board of Directors shall comprise nine directors. It was resolved to elect Petra Einarsson, Kim Gran and Matti Lievonen as new directors of the Board of Directors. Anders G Carlberg, Matti Sundberg and Pär Östberg had announced that they are leaving the Board of Directors in connection with the Extraordinary General Meeting. The Board of Directors will, from the time when the resolution becomes effective and until the end of the next annual general meeting, consist of the following directors elected by the general meeting: Petra Einarsson, Kim Gran, Jan Johansson, Matti Lievonen, Martin Lindqvist, Annika Lundius, Sverker Martin-Löf, John Tulloch and Lars Westerberg.

Source: SSAB, Stockholm
9/11/2014 - United Kingdom

Tata Steel gains responsible sourcing certification for construction products

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Tata Steel has become the largest company to acquire the BRE responsible sourcing standard BES 6001 for its UK construction products. All the company’s construction products manufactured in the UK are now certified ‘Very Good’ under the British standard, including its Advance steel sections, Celsius structural hollow sections, ComFlor and RoofDek structural decking, Trisomet and Trimapanel composite panels systems and Catnic building products. Tata Steel’s Colorcoat branded product is already certified to the standard.

Source: Tata Steel, London
Vallourec will deliver super duplex welded tubes for umbilicals from its plant located in Venarey-Les Laumes. Photo: Vallourec
Vallourec will deliver super duplex welded tubes for umbilicals from its plant located in Venarey-Les Laumes. Photo: Vallourec
9/10/2014 - Steel tubes for umbilicals in the North Sea

Vallourec awarded steel tube order for an umbilical offshore project in UK

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Vallourec announces it has been awarded a contract by Technip Umbilicals, for the Edradour project operated by Total in the UK. As part of this first industrial order, Vallourec will deliver super duplex welded tubes for umbilicals from its plant located in Venarey-Les Laumes (Burgundy, France). A key component in subsea installations, umbilicals are made of small-diameter tubes, cables and/or optical fibers which connect the equipments on the seabed together and to a control station at the surface by transporting fluids, supplying power, and transmitting information. Thanks to an innovative manufacturing process, Vallourec produces tubes to be fitted into umbilicals. These tubes offer superior strength and mechanical properties compared to products currently available on the market.

Source: Vallourec, Boulogne-Billancourt
9/10/2014 - ArcelorMittal

Eleven CEOs call on the international community to step up the fight against Ebola

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In a press statement, eleven CEOs call on the international community to step up the fight against Ebola: “We are a group of eleven companies operating in West Africa. We are understandably concerned about the impact of the Ebola virus on affected countries’ economies and the well-being of their people, which is being compounded by subsequent decisions and actions that affect travel to and trade with the region. Our companies have made long term commitments to these countries and their people and we intend to honour these commitments. We have strong ties to hundreds of local communities that depend on our operations. Despite the challenging environment, we are continuing where possible with normal operations, with the health and safety of our employees being the absolute priority at all times.

Source: ArcelorMittal, Luxembourg
9/10/2014 - January-July 2014

Latin America: Steel imports from China grow 60%

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During the first seven months of 2014, China embarked 4.7 million t of finished steel to the region, a 60% increase y-o-y (Jan/Jul 2013: 2.9 million t). In this way, Latin America keeps its position as second main destination for Chinese finished steel, only surpassed by South Korea that received 7.3 million t. During the period, total finished Steel exports from China reached 44.1 million t, 42% more than Jan/Jul 2013. It is worth noticing that even when all steel exports from China are growing markedly, the flow to Latin America is increasing even more strongly, a trend observed for several months. In July, Latin America received 705,024 t of finished Steel from China, growing 9% vs July 2014 (647,080 t) and 35% y-o-y (522,614 t).

Source: Alacero, Santiago
9/9/2014 - SMM trade fair

ArcelorMittal showcases latest steel solutions for shipbuilding

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ArcelorMittal will be present at SMM, the leading international maritime trade fair, taking place from 9 to 12 September 2014 in Hamburg, Germany. As a leading supplier of steels for shipbuilding, ArcelorMittal introduces its wide range of steels both for the structure and the interiors of vessels, including strong steel grades suitable for demanding environments such as arctic and deep-sea vessels, as well as special markets such as oil and gas, nuclear or cryogenic.

Source: ArcelorMittal, Luxembourg
9/9/2014 - Monthly Index Totaled 45.88, Down 1.09 Points from August’s Reading of 46.97

Platts China Steel Sentiment Index indicates weak demand

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The health of China’s steel sector may be poised for a less than robust immediate future, according to the latest Platts China Steel Sentiment Index (Platts CSSI), which showed a September reading of 45.88 out of a possible 100 points. This is down 1.09 points from an August reading of 46.97 and is the third consecutive month the index has remained below 50, indicating that market participants see demand for steel softening.

Source: Platts, Beijing
Cortec MCI products for concrete maintain structural integrity, rehabilitate vulnerable structures and alleviate environmental concerns. Photo: Cortec
Cortec MCI products for concrete maintain structural integrity, rehabilitate vulnerable structures and alleviate environmental concerns. Photo: Cortec
9/5/2014 - Migratory Corrosion Inhibitors (MCI) technology

Best equipment protection with industrial strength release agent

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Cortec presents MCI Creteskin, an industrial strength release agent containing Cortec’s patented Migratory Corrosion Inhibitors (MCI) technology. Cortec’s globally recognized MCI technology protects reinforcing metal in concrete from corrosion, rehabilitates existing concrete structures  and extends the life span of new structures. MCI Creteskin is carefully designed to provide powerful protection to equipment, vehicles and forms in the construction industry

Source: Cortec Corporation, Zagreb