A short selection of steel news
Tata profit down
India’s Tata Steel, the world’s eighth largest steelmaker, said quarterly profit fell by half, with prices and demand hit by the global slowdown.
The company said standalone net profit fell to INR9.03bn ($192M) for the fiscal second quarter, from INR17.88bn ($378.7M) reported a year earlier.
Net sales fell to INR56.3bn ($1.2bn) from INR67.3bn ($1.44bn).
Tata Steel said sales volume grew by a fifth to 1.46Mt in the quarter and raw material consumption rose 6.1% to INR14.27bn ($314.9M).
Walsin Lihwa Corporation ordered a revamped EAF for stainless steel production at its Yen Shui, Taiwan site.
It has told SMS Concast that, in view of the changed market situation, the furnace with a tapping weight of 65t of liquid steel should be completely converted to stainless steel production. The AC furnace was initially used for the production of carbon steels and high-grade stainless chromium steel. Commissioning is scheduled for the beginning of 2011.
Siemens VAI Metal Technologies has replaced coiler 3 on the hot strip mill with a new coiler system at Voestalpine Stahl in Linz, Austria.
The basic automation system of coilers 3, 4 and 5 was also modernised during the work, including integration of the previous systems.
The systems were equipped on the basis of the integrated Siroll HM solution concept for hot rolling mills. Coiler 3 was completed on schedule and operation of the hot strip mill was resumed on time.
Steelworkers at the Corus Orb plant, South Wales, UK have agreed to ballot for industrial action over non payment of bonuses at the UK steel company.
More than 300 steelworkers have decided to express their anger Corus’ actions in violation of over 30 years of procedure and custom and practice.
This decision by Orb steelworkers comes in the wake of ballots being announced at both the Corby and Hartlepool, UK sites.
The ballot, which could lead to strike action, was due to end on 9 November.
The World Steel Association has recognised three member companies, Gerdau, Tata Steel and Essar Steel, for excellence in their safety and health programmes.
All three companies demonstrated a commitment to safety and health that encompassed three basic guidelines. These are: the programme positively embraced worldsteel safety and health principles, the programme was able to demonstrate a measurable impact upon safety metrics and the programme could easily be applied to other member companies.