Steel Times International News
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ArcelorMittal plans $2bn efficiency drive
ArcelorMittal, the world's largest steelmaker, aims to implement a further $2bn of cost cuts by 2012 and will spend $4bn to make it more self-sufficient in iron ore over the next five years.
11 October 2010 -
Chinese crude steel falls in August
According to China’s National Statistics Bureau output of crude steel in August at 51.640Mt was down 1.1% y-o-y. This is the first time that negative y-o-y growth in steel production has been seen in 2010.
11 October 2010 -
Chinese crude steel investment halved in July
Due to an overcapacity status investment in China’s steel production suffered a severe m-o-m fall in July, while mining investment experienced some growth.
11 October 2010 -
JFE Steel in Indian acquisition
JFE Steel Corporation has acquired 15% of India’s JSW Steel for INR 48bn ($1.02bn).
11 October 2010 -
Rails and sections mill for Novokuznetsk
OAO Novokuznetsk Iron & Steel, Russia, part of the Evraz Group, has placed an order with SMS Meer for a new universal rail and section mill.
11 October 2010 -
Chinese power cuts reduce steel output
A wave of power cuts in some coastal provinces including Hebei, Jiangsu, Zhejiang and Shanxi Province, as a result of the central government’s action to lower the growth in electricity consumption to meet the target of the 11th Five-Year Plan, has caused a number of steel producers to temporarily lower or stop production.
11 October 2010
