Tokyo Steel keeps Feb prices steady amid import worries

Mon Jan 23, 2012

TOKYO Jan 23 (Reuters) - Tokyo Steel Manufacturing Co , Japan's biggest construction steelmaker, said on Monday it would keep prices unchanged in February, seeking to stem an inflow of cheaper imports, but added that the market shows signs of improvement on growing reconstruction demand.

Its pricing strategy is closely watched by Asian rivals like Hyundai Steel, POSCO and Baosteel, which have ramped up capacity, aiming to take advantage of their weaker currencies to boost exports to Japan.

"We hope to raise prices but the current yen rate and a potential rise in imports make it difficult to do so," Kiyoshi Imamura, marketing director at Tokyo Steel, told a news conference.

The company is hoping that China will ease its lending policy after the Lunar New Year break, stimulating steel demand.

In Japan, demand for construction steel has picked up since late last month on rebuilding of Japan's northeast that was devastated by massive earthquake and tsunami last March, Imamura said.

Severstal to supply rolled steel for Kia Rio model

Friday, 14 October 2011

Russian steelmaker Severstal has begun to supply rolled steel for making front roof panels for the new Kia Rio model. Severstal earlier reached a similar supply agreement for another car, namely, the Hyundai Solaris (sedan and hatchback).

Over the first nine months of 2011, Severstal delivered a total of more than 4,500 mt of rolled steel to the Hyundai plant in St. Petersburg and obtained approval for 47 parts for the Hyundai Solaris (sedan and hatchback) and the Kia Rio sedan. The rolled steel delivered to the Hyundai plant meets the HYUNDAI-KIA GLOBAL MATERIAL GUIDE standard.

Severstal has invested over Ruble 634 million ($20.1 million) to improve its steel sheet quality for the automobile industry over the last two years. Severstal's innovations have been aimed at improving automobile body sheet quality, while its innovative developments have been confirmed by 88 patented technical solutions and 10 awards of international car showrooms.

Tags: Russia , CIS , Severstal , production , automotive , steelmaking (sourced steelorbis)

Hyundai Steel to build a new furnace by 2013

Sunday, 30 Jan 2011
Reuters reported that South Korea's Hyundai Steel Co will invest more than KRW 3 trillion to build a No 3 furnace with a capacity of 4 million tonnes of steel per year.
Construction will start in the second quarter of 2011 and run through to 2013.

Hyundai Steel completed its first blast furnace in 2010 with an annual production capacity of 4 million tonnes per annum and added a No 2 furnace with the same capacity later in the year.
In April 2010, the steelmaker said its new furnace would specialize in steel plates for Hyundai Motor Group automobiles to strengthen the group's integrated supply chain.

Hyundai Steel provides crude steel and hot rolled plates to Hyundai Hysco Co Limited, which supplies cold rolled plates to the country's top two automakers Hyundai Motor Co and Kia Motors Corporation.
Hyundai Steel used to make mainly rebar and H section for the construction sector and recycling scrap steel at mini mills. (Sourced: reuters.com)