steel

Bluescope has made its fourth profit upgrade in a year, greatly assisted by improved steel margins in the US. The Australian Financial Review reports that it was the second profit upgrade in as many months, and the June half earnings before interest and tax were revised from May’s estimate of $270 million to $340 million. A … Continue reading Bluescope upgrades half-year profit, assisted by US margins, acquisition →

The South Australian government and SA senator Nick Xenophon have urged the new federal government to secure the long-term future of the Whyalla steelworks.

Senator Nick Xenophon had an hour-long meeting with prime minister Malcolm Turnbull yesterday, telling the PM that it is vital the country retains a steel industry.

Arrium administrator KordaMentha will hold parallel sales of the Arrium’s mining consumables and its steel, mining and ports businesses, with operations at the Whyalla steelworks “stabilised”.

Arrium’s Moly-Cop grinding media business has lodged an application with Chilean environmental authorities to double capacity at its Mejillones plant.

The Greens are scheduled to announce a bill in South Australian parliament to make the use of Australian steel law in government projects.

The federal government announced a $49.2 million loan for Arrium’s iron ore mines, which it said would have an “immediate impact” on the iron ore and steel business.

Any new technology is bound to have its share of challenges and barriers — for example the initial security concerns around cloud computing — and the Internet of Things (IoT) is no different. With smart devices adding billions of new access points into enterprise systems and communicating with the network, IoT security will be key. A number … Continue reading IoT and security: Hype, hysteria or cause for concern? →

Catastrophic failure of machinery or structures is usually expensive to repair and can pose a threat to the health and safety of workers and the public. Remote Visual Inspection (RVI) of materials, components and structures can give inspectors and technicians warnings of many potential failures before they cause problems. A videoscope is an inspection instrument … Continue reading Industrial videoscope being touted as the new ‘gold standard’ →

Labor will announce a commitment worth $100 million to attempt to save Arrium’s Whyalla plant, but the federal government has criticised the timing of the news, saying it wouldn’t enter a political auction on the issue.

Glencore has announced that it will be closing its North Queensland Bowen Coke Works facility over the next few months. According to the bulk commodities company, the Bowen Coke Works has been in operation since 1933 providing metallurgical coke for the Mount Isa Mines’ lead smelter. While no exact timeline for the closure was given, … Continue reading Bowen Coke gets snuffed out →

The South Australian government has pledged $50 million to assist in saving the Whyalla steelworks.

A forensic investigation into Arrium’s collapse is underway, reconstructing events focussing on the six months prior to the company’s April 7 administration.

The USA’s treasury secretary has said that China should cut its steel capacity, with the current glut “corrosive” to the Chinese economy and harmful to the rest of the world.

Can Australia still make steel? Brent Balinski spoke to metals expert Professor Geoff Brooks from Swinburne University about the industry’s difficulties, where it can excel, and the competition it faces. Australia’s last two major steelmaking sites have had to fight for their lives in the last year, and it is safe to say the local steel … Continue reading Little future in Australia focussing on garden variety steel →

South Australian senator Nick Xenophon has said his party would “unashamedly” use voter support to provide embattled steel and iron ore business Arrium with assistance. Whyalla News reports that Xenophon said a fair go and “jobs and growth” were not possible if the steel industry is allowed to collapse, “given it’s the bedrock of manufacturing”. “Whyalla will … Continue reading Xenophon: party would “unashamedly” assist Whyalla →

Steel and iron ore business Arrium will be on the market in late-July and most of the restructure and sale is expected to be completed by the end of the year, says the company’s administrators. AAP and others report that administrators KordaMentha have presented a proposal to state and federal governments for co-investment in Arrium’s loss-making … Continue reading Arrium sale expected to be complete by year’s end →

BlueScope Steel has increased its second-half earnings guidance by 29 per cent, assisted by cost-cutting measures and improvements in iron ore and steel prices. AAP reports that underlying earnings before interest and tax for the six months to June 30 was raised from $209 million to $270 million. “The stronger performance has been driven largely … Continue reading Improved half-year outlook for BlueScope →

The United States’ commerce department found that Chinese companies had sold surplus steel below cost in the US, ordering import duty increases of 522 per cent for cold-rolled steel. Sky News reports that US steel industry representatives claim the market has been distorted by dumped products, and it has had to make 12,000 jobs redundant … Continue reading US applies 522 per cent duty on China steel after dumping ruling →

Watkins Steel, a Brisbane based steel fabrication company, is the inaugural recipient of the Tommy Award at the YPO Innovation Week. This award was handed out on Saturday, 13th May by the Young President’s Organization (YPO) in association with the Edison Innovation Foundation at the closing event of the in-augural YPO Innovation Week. Watkins Steel … Continue reading Brisbane steel fabrication company wins international award at YPO Innovation Week →