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Europe 'negligent' over Chinese steel dumping: US boss
Europe 'negligent' over Chinese steel dumping: US boss

The head of US Steel has accused Britain and the wider European Union of negligence over China dumping cheep steel on world markets.

Europe 'negligent' over Chinese steel dumping: US boss
Photo © RIA Novosti
ArcelorMittal Temirtau and local labor authorites locked in battle over wages cuts

Kazakhstan Labor Inspection has prohibited ArcelorMittal Temirtau to cut wages and the company plans to file a protest.

ArcelorMittal Temirtau and local labor authorites locked in battle over wages cuts
©Reuters
ArcelorMittal Temirtau cuts wages by 25%

ArcelorMittal Temirtau, a steel giant in Kazakhstan, is cutting wages of all its employees by 25 percent starting from August 1.

ArcelorMittal Temirtau cuts wages by 25%
©REUTERS
Kazakhstan to return 4.1 billion tenge of VAT payments to ArcelorMittal Temirtau

The Taxation Department of Karaganda Oblast has began a check to confirm the outstanding debt of Kazakhstan tax authorities to ArcelorMittal Temirtau.

Kazakhstan to return 4.1 billion tenge of VAT payments to ArcelorMittal Temirtau
Photo © Kazinform
Attract transnational corporations to build new processing plants: Nazarbayev

President of Kazakhstan Nursultan Nazarbayev has instructed Kazakh officials to attract large transnational corporations during a nationwide teleconference dedicated to the Day of Industrialization.

Attract transnational corporations to build new processing plants: Nazarbayev
©Reuters/Rebecca Cook
Russian steelmaker Severstal announces sale of US plants

Russia's steel giant Severstal announced on Monday the sale of its North American plants to US companies for a total of $2.3 billion (1.7 billion euros).

Russian steelmaker Severstal announces sale of US plants
Photo courtesy of wikipedia.org
Hong Kong steel firm pays $470 mn for 5-star Paris hotel

A Hong Kong steel investment firm said it has agreed to pay almost $470 million for the five-star Paris Marriott Hotel Champs-Elysees, as it targets Chinese tourists' desire for luxury travel.

Hong Kong steel firm pays $470 mn for 5-star Paris hotel
©Reuters/Adnan Abidi
Global world steel use set to grow 3.1 pct this year

Global steel use is expected to grow 3.1 percent this year, up from two percent last year and to expand 3.3 percent in 2014.

Global world steel use set to grow 3.1 pct this year
China to deal 'appropriately' with EU steel challenge
China to deal 'appropriately' with EU steel challenge

China said it will deal "appropriately" with the European Union's decision to challenge it at the World Trade Organisation after Beijing slapped duties on some steel products, in the latest salvo in the row between the two sides.

China to deal 'appropriately' with EU steel challenge
©REUTERS
China steel industry says profits plunge

The combined profits of China's major steelmakers crashed by more than 98 percent in 2012 as growth in the economy of the world's largest steel producer slowed.

China steel industry says profits plunge
©RIA Novosti
Cutting over 400 jobs in Pavlodar linked to suspension of export to Iran

Pavlodar oblast authorities have linked firing of over 400 employees of the steel plant with suspension of export of goods to Iran.

Cutting over 400 jobs in Pavlodar linked to suspension of export to Iran
Photo courtesy of grani.ru
Pavlodar steel plant to cut over 400 jobs

The company explained that the cuts were a forced measure caused by decreasing demand for their products and shrinking production volumes.

Pavlodar steel plant to cut over 400 jobs
ArcelorMittal warns France over pressure on Florange
ArcelorMittal warns France over pressure on Florange

Steel giant ArcelorMittal warned the French government Friday that efforts to force it to sell all of its Florange plant, rather than just the parts it wants to close, threaten the company's presence in France.

ArcelorMittal warns France over pressure on Florange
Nippon Steel & Sumitomo Metal Corp Chairman and CEO Shoji Muneoka. ©REUTERS/Kim Kyung Hoon
World's 2nd largest steel firm born in Japan

Japan's Nippon Steel and rival Sumitomo Metal Industries formally merged on Monday, creating the world's second largest steelmaker amid intensifying global competition.

World's 2nd largest steel firm born in Japan
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