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voestalpine to build new special steel plant in China

The technology and capital goods group voestalpine is again driving forward its activities in the promising Asian market. The Special Steel Division, the Group’s special steel sector, signed a Letter of Intent to cooperate with Chinese foundry Kocel Machinery Company Limited. Over the next few years voestalpine […]

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Thai steel bar makers ask Industry Ministry not to certify alloy steel bars

NNT reported that domestic makers of steel bars met Minister of Industry Mr Chakramon Phasukvanich to voice their concern over the importation of steel bars from China, arguing that some of the items did not meet the standard for safety. Mr Chakramon said that the steel bar […]

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TimkenSteel Declares Quarterly Dividend of 14 Cents Per Share

The board of directors of TimkenSteel (NYSE: TMST), a leader in customized alloy steel products and services, today declared a quarterly cash dividend of 14 cents per share. The dividend is payable on Dec. 5, 2014, to shareholders of record as of Nov. 24, 2014. TimkenSteel Corporation […]

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ArcelorMittal and Gerdau agree to sell Gallatin Steel for US$770m

September 15, 2014, Luxembourg and Porto Alegre ArcelorMittal and Gerdau jointly announced today that they have entered into a definitive transaction agreement to sell their respective 50% interests in Gallatin Steel Company (“Gallatin”) to Nucor Corporation for a total cash consideration of US$770m, subject to customary closing […]

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JSW set to acquire 3 re-rolling mills of Italian steelmaker Lucchini

KOLKATA, SEPT 12: JSW Steel is poised to take over three special steel re-rolling mills of bankrupt Italian steelmaker Lucchini located in Tuscany province. The three units together have the capacity to re-roll 1 million tonnes of steel. JSW Steel’s Senior Vice-President (Global Sales) Sharad Mahindra confirmed […]

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Tata Steel net profits drop 70% as imports hit European division

Tata Steel blamed a glut of steel imports for the slower than expected recovery of its European division, as net profits at India’s largest private sector steelmaker fell 70 per cent in the first quarter. The Mumbai-based group said higher taxes and provisioning charges also ate into […]

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SSAB and Hexicon in agreement to develop floating platforms for wind power

SSAB is entering into an agreement with Hexicon AB to develop far off shore platforms. The combined technology will offer advantages within the market for renewable energy. A first demonstration unit is planned for Swedish waters in 2017. Hexicon will together with SSAB optimize the steel material […]

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NSSMC ready to ship the world longest 150 meters railway rails from Yawata Works

Nippon Steel & Sumitomo Metal Corporation has set up a system to manufacture and ship the world longest rails for railroads 150 meter long rails at Yawata Works. The latest advance of this nature is completion of facilities at Yawata Works enabling it to handle and ship […]

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Fangda Special Steel 2013 net profit up by 8pct YoY

Reuters reported that Fangda Special Steel Technology Company Limited of China as saying that 2013 net profit up 7.5% YoY at CNY 562.8 million.

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CITIC Group plans HK listing by reversing into CITIC Pacific

Reuters reported that Chinese state owned conglomerate CITIC Group Corporation plans to list its main operating arm in Hong Kong by reversing into its CITIC Pacific subsidiary in a deal valuing the combined listed group at USD 42 billion. Steel to property conglomerate CITIC Pacific, which is […]

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