Steel Market Production Cuts – Italian steelmaker ILVA has been given a direct order to shutter the hot end at the 11 million tpy Taranto plant after the judge denied a plan that would allow production to continue at 70% of capacity during the renovation process.
Steel Market Production Cuts – Baosteel, China’s largest steel company, halted operations at the 3 million tpy plate mill in Luojing, Shanghai to prevent further operating losses.
Steel Market Production Increases – Production will begin shortly at Mexican steel company Deacero’s new 500,000 tpy Ramos Arizpe longs mill, with the potential for capacity to eventually increase to 1.5 million tpy, adding to existing output of 3 million tpy.
Steel Market Production Cuts – Japanese rebar producer Kyoei Steel will cut production further in September and October, increasing the total cut from 30-40% to 50%.
Steel Market Production Increases – Chinese steelmaker Weiyuan Iron & Steel Company has ordered a new 650,000 tpy wire rod mill expected to come on line in 2Q 2013.
Steel Market Production Increases – Turkish steel company Izmir Demir Celik (IDC) is planning to begin test-runs of a new 400,000 tpy medium sections mill sometime in December. The new mill will increase IDC’s total finished steel capacity to 1.3 million tpy.
Steel Market Production Increases – Russian pipe maker Vyksa will begin installing three new welded pipe mills before the end of 2012, with a start-up goal of mid-2013. The new mills will replace the current four mills at the No.2 pipe shop and will increase capacity by nearly 50% to 300,000 tpy.
Sources: Steel Business Briefing, SteelOrbis
