IRON and STEEL
Korean Hyundai Steel has awarded SMS group the Final Acceptance Certificate after successful commissioning of a new straightening machine for the medium section mill at its Incheon site, South Korea.
The new horizontal roller straightener replaces an existing straightener installed in 1995. With this new horizontal roller straightener from SMS group, Hyundai Steel is able to roll larger sheet piles and beams up to a web height of 450 millimeters. In addition to extending the product range, the straightener helps to improve the tolerances and quality of the sections. This straightener type impresses also with reduced maintenance and lower media consumption while maintaining a high level of process reliability.
South Korea’s HRC offers to Vietnam plunge in recent deal concluded- As per market sources based in Vietnam, South Korean based Hyundai steel has concluded HRC deal with Vietnam for June end shipments. As per an update, company booked around 20,000 MT of HRC with Vietnam based Hoasen for June end July shipments.
Japanese scrap exports to South Korea recorded above 0.40 MnT mark successively for the 2nd month while US scrap exports hit 5-month high in Feb'19
As per new price circular released, Japan’s leading EAF steel mini-mill - Tokyo Steel has raised domestic scrap purchase price further by JPY 500/MT (USD 5) at all five works on strong sentiments in Japan. New prices shall be effective from tomorrow.
Sichuan Liuhe Forging Co., Ltd., based in Jiangyou in the province of Sichuan, China, has placed an order with SMS group to supply a high-speed, 50/55 MN open-die forging press.
Stahlwerk Thüringen GmbH, a company of Brazilian Grupo CSN, has awarded SMS group the order to supply a new CCS® (Compact Cartridge Stand) universal stand U1 for its section mill in Unterwellenborn, Germany.
This week observed mixed trends in global scrap markets with Turkey scrap prices surprisingly jumped in recent deals while Asian scrap prices continued a downward correction. South Korean steel mills booked another 3-4 bulk cargoes from the US and Japan again this week.