TMK IPSCO expands pipe threading line at Ohio facility

Saturday, Mar05, 2011

Downers Grove, Illinois-based steel energy pipe manufacturer TMK IPSCO announced Friday that its Premium pipe threading facility in Brookfield, Ohio has begun a two-week commissioning phase for its second thread line, which will allow the facility to thread more and larger pipe products.

The second thread line will allow the Brookfield plant to thread pipes up to 13 5/8" in diameter, up from the previous size range of 4"-7 5/8" under the first thread line.

"What this means for the industry is that we are now able to provide an even quicker response to the growing needs of the Marcellus drilling region," said Piotr Galitzine, chairman of TMK IPSCO. "Marcellus will play a major role going forward as natural gas finds new uses in electricity generation and municipal transportation."

Renco Group: RG Steel to become fourth-largest flat rolled steel producer in US

Fri, Mar04, 20100

US-based private investment holding company Renco Group has announced that, following the acquisition of three steel companies currently owned by Russian steelmaker Severstal estimated at $1.2 billion, its newly-formed subsidiary RG Steel will become the fourth-largest flat rolled steel producer in the US.

Accordingly, in addition to Severstal's Sparrows Point, Warren and Wheeling facilities, RG Steel will acquire a 50 percent ownership interest in Mountain State Carbon LLC, a cokemaking facility in Follansbee, West Virginia, and Ohio Coatings Company, based in Yorkville, Ohio. RG Steel will receive one half of the coke output from Mountain State Carbon and will continue its long-standing relationship with Ohio Coatings Company. The purchase of these assets will provide RG Steel with approximately 7.5 million mt of annualized steelmaking capacity.

"The formation of RG Steel will create a dynamic, service-oriented company with strategically located facilities," Renco Group's president Ari Rennert stated.

RG Steel will be headquartered at Sparrows Point, Maryland. Completion of the sale is expected in March 2011, pending regulatory approval.

Metinvest targets annual steel output of 25 million mt in long term

Tuesday, 08 February 2011
Ukraine's largest mining and steel group Metinvest has increased its investments for 2011 by 2.4 times year on year to $1.18 billion in order to improve its steel production efficiency and to strengthen its vertical integration with the aim of processing in-house as much available raw materials as possible into steel, said Metinvest's CEO Igor Syry. He added that during the next five years Metinvest plans to invest around $6 billion for the stated purpose, targeting a long-term output goal of 25 million mt of steel per year, which will take it to around fifth place among the world's major steelmakers.
Metinvest plans to expand its steelmaking capacities both by mergers and acquisitions, and by pursuing organic growth. "We will also strengthen our footprint in our strategic markets - in Ukraine and the CIS, the EU, the Middle East and North Africa. Our presence will grow by means of product portfolio diversification, reduction of the share of semi-finished products down to 10 percent in favor of such products as hot and cold rolled coils, coated coils and heavy sections, as well as through clear customer segmentation and development of long-term mutually beneficial relationships with key accounts," Mr. Syry said.
As regards its technological strategy, Metinvest plans to introduce pulverized coal injection (PCI) technology. Its high-grade coking coal needs per annum will increase to 13 million mt, and its coke needs will rise to 8 million mt. "The share of high-quality coking coal in our blast furnace charge will need to increase, though, unfortunately, there is a lack of such coals in Ukraine. Additional volumes can be imported, and naturally, we will be sourcing them from United Coal (UCC), our own coal mining company in the USA. We have approved capacity expansion projects at the Affinity and Roaring Creek mines, and we are planning to increase supplies," Mr. Syry stated.
In addition, Metinvest plans the implementation of energy efficiency projects, the positive effect of which, according to preliminary estimations, will amount to around $1 billion per year.
Tags: hrc , crude steel , coking coal , crc , raw mat , semis , flats , Ukraine , CIS , steelmaking , production , investments , Metinvest(sourced:steel orbis)

US raw steel production up 0.4 percent week-over-week

Wednesday, 09 February 2011
US raw steel production rose last week (ended February 4) with output increasing 0.4 percent from the previous week. In the previous week, US raw steel production had increased 0.9 percent compared to the week before.
Total raw steel production in the United States amounted to 1,789,000 nt last week. This figure represents a 0.4 percent increase from the 1,782,000 nt produced in the prior week, and is up 10.3 percent from the 1,605,000 nt produced in the same week of last year.
The capacity utilization rate of US raw steelmaking facilities was 74 percent in the week ending February 4, compared to 73.7 percent in the prior week and 67.3 percent in the same week last year.
Tags: USA , North America , steelmaking , production

US Steel receives state funds for Ohio expansion project

Wednesday, 09 February 2011 02:59:55 (GMT+2)
Ohio's State Controlling Board announced a series of approved grants administered by the Ohio Department of Development to encourage economic growth and job creation.
United States Steel Corporation will receive a $200,000 Rapid Outreach Grant to help purchase new machinery and equipment for its expansion project in Lorain County, Ohio. The entire project will cost an estimated $93.6 million.
Tags: USA , North America , steelmaking , investments , US Steel(sourced:steelorbis)

ArcelorMittal and Nunavut now own 90 percent of Baffinland, extend offer

Monday, 07 February 2011 16:21:35 (GMT+2)
Luxembourg-based steelmaking goliath ArcelorMittal and Canada-based Nunavut Iron Ore Acquisition Inc. (Nunavut Iron), a subsidiary of US-based Iron Ore Holdings LP, now own 90 percent of Canadian miner Baffinland Iron Mines Corporation (Baffinland) through their C$590 million ($593 million) joint offer, after acquiring 89,710,019 more common shares. The joint stake was 65 percent before this recent transaction. The offer has also been extended until the end of February 17.
The offer seeks all shares of the company for C$1.50 (US$1.51) in cash per common share. Under the joint offer, ArcelorMittal and Nunavut Iron would own 70 percent and 30 percent of Baffinland respectively.
The companies decided to cooperate on January 14, following various rival bids to acquire Baffinland.
C$4 billion project
Baffinland's Mary River project has proven reserves of about 365 million metric tons of ore, grading an average of 65 percent iron, and about 500 million mt of ore resources. For some months now Baffinland has been looking for partners for the C$4 billion (US$4.02 billion) project, which is expected to produce 18 million mt per year.
ArcelorMittal has already received the necessary approvals for acquisition from local authorities, also valid for the joint offer.
Tags: iron ore , raw mat , USA , Luxembourg , Canada , Europe , North America , mining , M&A , ArcelorMittal(sourced:steelorbis)

Timken Company invests $35 million to upgrade Ohio rolling mill

Wednesday, 02 February 2011 02:42:50 (GMT+2)
Canton, Ohio-based steel fittings producer The Timken Company announced Tuesday plans to install a high-volume in-line forge press at its Faircrest rolling mill in Canton, Ohio. The Timken Company will invest approximately $35 million for the project.

Slated to begin operations in early 2013, the in-line forge press will increase the plant's capacity and lower cost, as well as expand product capabilities. "This open-die in-line press will be the first step of the forge-rolled process for all Faircrest products," said Tom Moline, VP of manufacturing. "Adding this step prior to rolling will provide better yield and production efficiencies to significantly improve our operations."Tags: USA , North America , steelmaking , production , investments(sourced:steelorbis)

Construction spending in US falls to 10-year low

Wednesday, 02 February 2011 02:53:27 (GMT+2)

According to figures released Tuesday by the US Census Bureau of the Department of Commerce, construction spending in December 2010 totaled about $787.9 billion, 2.5 percent (±1.3 percent) below the November total of $807.8 billion. Compared to a year ago, spending fell 6.4 percent (±1.6 percent) from the December 2009 total of $841.8 billion. The total value of construction in 2010 was $814.2 billion, a 10.3 percent (±1.0 percent) decrease from the $907.8 billion spent in 2009.
Spending on private construction was $486.9 billion in December, 2.2 percent below the November estimate of $498 billion. Within the private construction sector, residential construction fell 4.1 percent in December, while non-residential construction spending declined 0.5 from November to December. In 2010, the value of private construction was $507.3 billion, 14.3 percent below the $592.3 billion spent in 2009.
Spending on private construction was $301 billion in December, 2.8 percent (±1.8 percent) below the revised November estimate of $309.8 billion. In 2010, the value of public construction totaled $306.8 billion, a 2.7 percent (±1.4 percent) decline from the $315.5 billion spent in 2009.
Tags :USA , North America, construction ( souced:steelorbis)