Wednesday, February 15, 2006

Steel News

World's Widest Continuous Caster Successfully Commissioned in China
SMS Demag
, Germany, have successfully commissioned the singlestrand continuous caster for ultra-wide medium slabs at Anyang Iron & Steel Company, PR China.
The continuous caster will produce ultra-wide medium slabs between 1,600 and 3,250 mm at a thickness of 150 mm, thereby boosting Anyang's production capacity by around 1.1 million tons per year.
The slab caster is designed as vertical bending unit with a vertical length of 2.5 m and a metallurgical length of 18.6 m. Its maximum casting speed is two meters per minute.
The new slab caster will produce a large variety of high-quality steel grades ranging from high-strength structural steels to pipe qualities. The slabs produced by the caster will then be processed further by hot charging in the Steckel mill to yield plates and hot strip.
Full story

World steel output to grow by 47 million tons
MEPS forecasts global crude steel production climbing to 1175 million tonnes this year - more than 4 percent up on the outturn in 2005. Blastfurnace ironmaking is predicted to reach 817 million tonnes in 2006. This represents a rise of around 4.5 percent over the year earlier figure.
The majority of the gain in steel manufacturing will come, once again, from producers on the Asian continent. Chinese steel mills are expected to contribute more than 80 percent of the improvement. Oversupply will be a feature of the market for, at least, the first half of this year. We envisage only modest increases in steel output from the industrialised nations
Source

Mittal fourth quarter profits down
Mittal Steel Co., which is bidding $23 billion for rival Arcelor SA, said fourth-quarter profit fell on rising raw material costs and a drop in steel prices.
Net income in the three months ended Dec. 31 dropped to $650 million, or 92 cents a share, compared with $1.55 billion, or $2.42 a share, a year ago
Arcelor, the current target of a Mittal takeover bid are due to post financial figures later this week.
A recent interview with Laksmi Mittal can be found at rediff

1 comment:

Steve said...

test