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The European Steel Association (Eurofer) called upon member states to make another push to break through the impasse on the modernisation of the EU’s Trade Defence Instruments (TDIs). The call comes ahead of an Informal Meeting of Trade Ministers in the Foreign Affairs Council today at which priorities such as TDI modernisation, Market Economy Status for China (MES), the Transatlantic Trade and Investment Partnership (TTIP), and the EU-Canada Comprehensive Economic and Trade Agreement (CETA) are on the menu.
World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 134.1 million t (Mt) in August 2016, 1.9% up on August 2015. China’s crude steel production for August 2016 was 68.6 Mt, an increase of 3.0% compared to August 2015. Elsewhere in Asia, Japan produced 8.9 Mt of crude steel in August 2016, an increase of 1.5% compared to August 2015. India produced 8.1 Mt of crude steel in August 2016, up 9.4% compared to the same month last year. South Korea’s crude steel production was 5.9 Mt in August 2016, up by 1.8% on August 2015.
Nucor Corporation announced that it is adding an additional cold mill at its Nucor Steel Arkansas division. The specialty cold mill complex will expand Nucor's capability to produce advanced high-strength, high-strength low-alloy, and motor lamination steel products. The mill will cost an estimated $230 million to build and is expected to be operational in approximately two years.
Ovako will be among exhibitors at Ankiros 2016 in Istanbul, the 13th international iron-steel and foundry technology, machinery and products trade fair, to discuss the advantages that its ‘next’ generation high performance engineering materials can bring to Turkey’s thriving steel industry. Visitors to Ankiros 2016 can join Ovako at SAN Malzeme Stand No. H2-A200 to talk about how its attribute brands BQ-Steel, IQ-Steel, M-Steel and WR-Steel and other high performance engineering steels can help customers reduce their costs, save on production time and explore new design solutions.
Nucor Corporation announced that it has agreed to acquire Independence Tube Corporation (ITC), a leading independent manufacturer of hollow structural section (HSS) steel tubing, for $435 million, or approximately 6x average Ebitda over the 2013-2015 period. "Independence Tube is a natural fit with Nucor. Their business model is similar to ours with extremely efficient manufacturing facilities and a highly variable cost structure. Our companies' cultures are also similar, sharing a belief in continual improvement, operating efficiency and the value of our employees," said John Ferriola, Chairman, CEO and President of Nucor. "This acquisition is another important step in our long-term strategy to increase the number of value-added products we can offer our customers. It also adds to our portfolio another growth platform for our team to use to grow our company."
At this year’s Alihankinta Subcontracting Fair in Tampere, Finland, Ovako will launch its new hollow bar M-Steel 280 developed to offer component manufacturers design, machinability and cost advantages while also promoting its greatly increased service package and distribution operation in Finland, Ovako Metals Oy Ab. Both enhanced offerings are intended to provide customers with significant advantages, both in terms of material consistency and availability, with a range of customized services that are fine tuned to fully meet, or even exceed customers’ expectations and improve their competitive edge.
The European Steel Association (Eurofer) yesterday welcomed the steel focused elements of President Juncker’s speech but warned that the achievements in shoring up the industry thus far are still at risk from other policy areas. “It is very positive that the Commission is taking a stand on steel and is making the right noises regarding defending the industry against unfair trade,” said Axel Eggert, Director General of Eurofer. “President Juncker’s emphasis on not being “naive free traders” hits the nail on the head: Free trade is rules-based, and it is the duty of the players in the game to either play by those internationally recognised rules or face the trade defence consequences.”
European Performance Highlights of Tata Steel in the first quarter of 2016 are:
MSC Cruises’ first ship of its new Meraviglia Class left STX France’s drydock in Saint-Nazaire during a float out ceremony on 2 September. The ship will now be fitted out before being christened as the MSC Meraviglia at a naming ceremony in June 2017 in Le Havre, France. ArcelorMittal has provided STX France 35 000 t of steel for the ship’s bridges and the hull. These products are entirely manufactured in ArcelorMittal’s European plants: the plates are produced in Gijón (Spain) and the coils are manufactured in Fos-sur-Mer, then processed in Saint Nazaire.
With excellent energy saving results from two completed EFSOP project installations at Kanto Steel (Tsuchiura City, Ibaragi) and Kyoei Steel Hirakata Works (Hirakata City, Osaka), the Kyoei Steel Group, a leading EAF steelmaker in Japan, has confirmed the value that EFSOP technology has added to their operations in the areas of real-time off-gas chemistry measurement and dynamic closed loop control of chemical energy.