ArcelorMittal has no plans to restart operations at its Point Lisas steelworks in Trinidad & Tobago before March. Forced by continuing poor international market conditions in the steel industry, ArcelorMittal Point Lisas has laid off 498 of its workers without pay until March 13, 2016. The Point Lisas works has the capability of producing 550,000 Tpa of hot-briquetted iron. It can also produce billet and wire rod. (Source - SBB, London)
Despite the imposition of MIP, domestic steel industry seems to have a bigger plan as it prepares to file for longer-duration duties to counter cheaper imports. As per analysts, with the MIP, imports would become costlier by 26-70%. Indian steel producers are looking at anti-dumping and countervailing duties as the next measures to fix the steel import issue since these duties are typically placed for threefour years. (Source - Metal Junction)
ArcelorMittal has been cutting costs at its U.S. operations, where it's looking to close finishing lines, including at ArcelorMittal Indiana Harbor in East Chicago. About 12,000 steelworkers in the United States lost their jobs last year, due to the unprecedented import crisis. A flood of cheap imports was largely blamed on China, which went from exporting about 90 MT of steel in 2014 to about 120 MT in 2015. (Source - Metal Junction)
Bankrupt coal producer Alpha Natural Resources, USA, is laying another 230 miners in West Virginia for the third time in a month as a result of a severe downturn in the coal industry. The planned dismissals, will take place at four mines and one processing plant operated by Brooks Run Mining in Braxton and Webster counties, West Virginia. Only last week, Alpha announced the immediately layoff of 93 miners at Kingston Mining Inc. in Fayette County. Alpha says all these job cuts are the result of a combination of oversupply of coal and dramatically reduced demand.(Source – Mining)
U.S. Steel Corp. is outsourcing accounting jobs and laying off 75 workers as the steel producer cuts costs to manage through a severe industry downturn. The Downtownbased company, last month reported a US$ 999 million loss for the fourth quarter. The affected jobs primarily are in payroll, accounts receivable and accounts payable.(Source - Press Reports)
JSW’s crude steel production declined to 9.27 lakh T in January’16, down by 17.2%. The company had produced 11.20 lakh T of crude steel in January’15. Production of Rolled flat products came down to 7.47 lakh T in January’16 as compared to 9.07 lakh T in Jan’15. Its production of long rolled products declined to 2.51 lakh T as compared to level of 1.76 lakh T in Jan’15.(Source – Press Reports)
Despite the imposition of MIP, domestic steel industry seems to have a bigger plan as it prepares to file for longer-duration duties to counter cheaper imports. As per analysts, with the MIP, imports would become costlier by 26-70%. Indian steel producers are looking at anti-dumping and countervailing duties as the next measures to fix the steel import issue since these duties are typically placed for threefour years. (Source - Metal Junction)
ArcelorMittal has been cutting costs at its U.S. operations, where it's looking to close finishing lines, including at ArcelorMittal Indiana Harbor in East Chicago. About 12,000 steelworkers in the United States lost their jobs last year, due to the unprecedented import crisis. A flood of cheap imports was largely blamed on China, which went from exporting about 90 MT of steel in 2014 to about 120 MT in 2015. (Source - Metal Junction)
Bankrupt coal producer Alpha Natural Resources, USA, is laying another 230 miners in West Virginia for the third time in a month as a result of a severe downturn in the coal industry. The planned dismissals, will take place at four mines and one processing plant operated by Brooks Run Mining in Braxton and Webster counties, West Virginia. Only last week, Alpha announced the immediately layoff of 93 miners at Kingston Mining Inc. in Fayette County. Alpha says all these job cuts are the result of a combination of oversupply of coal and dramatically reduced demand.(Source – Mining)
U.S. Steel Corp. is outsourcing accounting jobs and laying off 75 workers as the steel producer cuts costs to manage through a severe industry downturn. The Downtownbased company, last month reported a US$ 999 million loss for the fourth quarter. The affected jobs primarily are in payroll, accounts receivable and accounts payable.(Source - Press Reports)
JSW’s crude steel production declined to 9.27 lakh T in January’16, down by 17.2%. The company had produced 11.20 lakh T of crude steel in January’15. Production of Rolled flat products came down to 7.47 lakh T in January’16 as compared to 9.07 lakh T in Jan’15. Its production of long rolled products declined to 2.51 lakh T as compared to level of 1.76 lakh T in Jan’15.(Source – Press Reports)
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