steel

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 →

Arrium’s difficulties have played a significant part in the liquidation of a hospitality business in Whyalla, according to the business’s owner. The ABC and others report that the Foreshore Motor Inn cut five full-time and 17 casual jobs as it went into liquidation. The inn has a 40-room motel and a bistro, the Waters Edge … Continue reading Arrium woes play a part in motel liquidation →

A new group transformation program had led to massive organisational change at thyssenkrupp’s industrial solutions division. The company’s current ‘strategic way forward’ initiative has developed new structures at its Industrial Solutions and Steel Europe division, resulting in leadership changes and a refocusing. “The organisational changes will put customers and markets more firmly at the centre, … Continue reading Thyssenkrupp announces new business ‘reorganisation’ →

Chinese steel production has surged in response to a jump in prices, but capacity levels are concerning and some are tipping a correction soon. Bloomberg reports that output for April was up 0.5 per cent compared to last year, reaching 69.42 million metric tons, according to National Bureau of Statistics. Averaged out by production day, … Continue reading Chinese steel production surges on price jump →

Assistance measures for the loss-making Arrium Whyalla steelworks could be finalised in the coming weeks, Arrium’s administrator has said. The ABC reported last night that Mark Mentha of administrators KordaMentha met the SA government’s steel taskforce yesterday. “We’d like to think the recommendations, the issues we’ve put to the taskforce, will be considered [swiftly] and … Continue reading Arrium administrator meets with steel taskforce →

Arrium’s administrators are still hopeful of federal assistance, despite this not being mentioned in the federal budget. Yesterday federal treasurer Scott Morrison told radio in Adelaide that money for struggling enterprises was unnecessary. “What people in Whyalla and places like that don’t need is a Treasurer to get up at a Budget and splash a … Continue reading Any federal assistance may take time: Arrium administrators →

Bluescope Steel has said it is confident of being picked to supply the steel for Australia’s new submarine fleet, which will be made in Adelaide. Fairfax reports that the steelmaker will meet with the winning bidder to design the submarines, France’s DCNS, on May 12 regarding the required specifications. “We’re confident that we can supply … Continue reading Bluescope to meet with DCNS in a fortnight about submarine steel →

Yesterday’s announcement that 12 new submarines designed by France’s DCNS will be built at Osborne has been welcomed by various South Australian politicians, but the potential benefit to struggling steelmaker Arrium is not known. Yesterday prime minister Malcolm Turnbull made the long-awaited announcement at the Adelaide shipyard. The Adelaide Advertiser and others noted the repeated … Continue reading Benefit of subs contract to Whyalla unclear →

An OECD steel committee meeting, attended by assistant science minister Karen Andrews and including 30 of the world’s biggest steelmaking nations, has heard advice that the current glut be addressed promptly. According to OECD figures, global capacity was 2.37 billion tonnes of steel in 2015, but only 67.5 per cent of this was being used. … Continue reading China blamed as OECD steel overcapacity discussions continue →

The Australian welding industry wants the Federal Government to enact laws now to safeguard public safety and the steel industry, Geoff Crittenden, CEO of the Welding Technology Institute of Australia (WTIA) says. “The solution to the steel industry’s woes is for the Federal Government to draft legislation to mandate that imported, fabricated steel must be … Continue reading Welding industry unveils solution to save steel industry →

Arrium’s administrator is hoping to maximize the struggling company’s participation in upcoming shipbuilding projects, as first creditors meeting was held yesterday. Mark Mentha of administrators KordaMentha said it would be desirable for Arrium to successfully tender for as much work as possible in the upcoming offshore patrol vessel and frigate projects. “What we need to … Continue reading Push to have Arrium supply naval projects →

A first meeting of Arrium’s creditors is being held today, with the iron and steel business’s administrator saying the future hinges on the Whyalla’s steelworks. Mark Mentha of insolvency firm KordaMentha said most of the company, which owes around $4 billion, is in good shape, but was exposed to the survival of Whyalla. Arrium, which … Continue reading Keeping Whyalla open essential to Arrium survival, says administrator →

A jump in Chinese steel production is unlikely to last, according to analysts, following a surge last month. Business Insider and others note that crude steel production in China was 70.65 million tonnes in March (up three per cent compared to March last year). Steel exports were up 23 per cent in March, 23 per … Continue reading China steel rally predicted to sag →

A subsidiary previously slated for divestment may be the key to Arrium’s continued future. After their recent decision to place their underperforming mining and steelworks operations in voluntary financial administration, there were serious concerns for the company’s permanence. The company’s Moly-Cop business however, remains profitable and could play a critical role in their survival, according … Continue reading Arrium’s Waratah could keep the company afloat →