22 January 2019

Latest Steel Market News

Tenaris acquires substantial stakes in Saudi Steel Pipe Company

(Middle East): Tenaris S.A completed its acquisition of 47.79% share in Saudi Steel Pipe Company (SSP), a welded steel pipe manufacturer located in Saudi Arabia. SSP has a production capacity of 360k tonnes/year.

 

NASSCO opens an automated steel plate welding line for shipbuilding

(Noth America): National Steel and Shipbuilding Company (NASSCO) has opened a new fabrication line at its San Diego shipyard. It is equipped with robotic welding facility which could perform hybrid laser arc welding on steel plates with high accuracy and in a shorter time.

 

BISCO starts pellet production plant in Kerman

(Middle East): Butia iron ore pellet production plant, a subsidiary of Butia Iranian Steel Company (BISCO), has started operation in the city of Kerman, Iran. The plant has a production capacity of 2.5 million tonnes pellets per year.

 

UAE increased import duties on long products

(Middle East): UAE revised import duties on rebar and wire rod up to 10% from 5%, aiming to protect local producers. The new duties are effective from 17th January 2019.

 

SAF Holland acquires 51% of PressureGuard LLC

(Europe): Germany’s SAF-Holland, a major component supplier to the automotive industry, has acquired a 51% stake PressureGuard LLC, a US-based automatic tire pressure management specialist. One of the main features of its tire management system is the stainless steel braided hoses. The acquisition aims to broaden the company’s product portfolio and technological potential.