More industry News in Briefs
Essar Steel ore agreement
Cleveland, Ohio-based miner Cliffs Natural Resources and Canada- based Essar Steel Algoma have reached an agreement on the pricing, volume and supply of iron ore pellets for 2011.
The agreement also includes Essar’s acceptance of an earlier announced arbitration award, which saw the steelmaker pay $129M to the miner for 2010 pellet sales.
Essar Steel Algoma is a member of the India-based Essar group and is based in Sault Ste. Marie, Ontario.
The flat-rolled producer of slab, plate and sheet has a crude steel capacity of nearly 3Mst/y.
Nippon Steel to invest $300M
Nippon Steel Corp, Japan’s largest steelmaker, will invest $300M to build a plant in Thailand to produce high-grade steel for the automobile and electrical appliance industries.
The plant will be located next to the Siam United Steel (SUS) plant in Rayong in which Nippon Steel is a major shareholder. With production capacity of 360kt/y of galvanized steel, the facility plans to be operational in 2013.
Fortescue exports down
Australian iron ore exporter Fortescue Metals Group said its exports in the March quarter fell 15.8% from the December 2010 quarter and 11.5% y-o-y to 8.4Mt due to the impact of heavy rain in the Pilbara region Western Australia.
It mined 9.7Mt of ore over January- March, down 12.3% q-o-q and down 6.9% y-o-y, and processed 8.87Mt, down 7.4% q-o-q and down 1.3% y-o-y, due to road closures caused by flooding and the inability to get personnel to site due to constant low cloud grounding flights, the company said.
JFE Steel pipe
JFE Steel Corporation will manufacture seamless speciality pipe measuring 18 inches or more in outer diameter (OD) and 30mm or less in wall thickness, aiming to capitalize on the use of large OD, thin-wall seamless pipes for steam- and gas turbine combined-cycle power plants and petroleum refineries.
JFE Steel Chita Works in Japan will produce seamless pipes (motherpipes) measuring 16 inches (406.4mm), which it will enhance with chromium for extra high-heat resistance.
The pipes then will be outsourced to SungKwang Bend in Busan, South Korea for expanding.