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Romania protest over layoffs at Russian-owned steel plants

March 15, 2013 14:16
Hundreds of workers protested across Romania on Friday fearing a wave of lay-offs at steel plants sold last month by Russian giant Mechel to an obscure trading company. "We are desperate. We are calling on the government to organise a meeting with the new owner to save our jobs", Constantin Iarca, the union representative at a steel rolling mill in Braila told AFP. Around 200 out of the plant's 380 workers protested Friday in the centre of Braila, a city in eastern Romania.

New rules may ease China pollution, won't solve steel overcapacity

March 10, 2013 17:30
* China to impose "special restrictions" on steel mills * Moves likely to increase mills' operating costs * Unlikely to aid steel sector restructuring, consolidation By David Stanway and Ruby Lian BEIJING, March 11 (Reuters) - New rules aimed at making China's sprawling steel sector greener will do little to tackle rampant overcapacity or help Beijing protect its big state-owned mills from smaller, nimbler rivals.

ThyssenKrupp cuts back European steel division

February 8, 2013 07:46
German heavy industry giant ThyssenKrupp unveiled plans on Friday to axe more than seven percent of the workforce at its Steel Europe division to make the business more competitive. ThyssenKrupp said in a statement it would axe "more than 2,000 jobs" out a total workforce of 27,600 at its Steel Europe division in a 500-million-euro ($671-million) cost-cutting drive. "Overall, the workforce of Steel Europe will be cut by more than 2,000 from around 27,600 at present as part of an optimisation programme," the statement said.

China steel industry says profits plunge

February 1, 2013 01:15
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, an industry group said. After-tax profits of more than 80 steelmakers reached around 1.58 billion yuan ($251 million) last year, the China Iron and Steel Association said in a statement on its website on Thursday. It attributed the fall to China's economic downtrend, which cut demand and caused prices to drop.

Canada to maintain steel anti-dumping duties on China

January 8, 2013 14:30
OTTAWA, Jan 8 (Reuters) - Canada will maintain anti-dumping duties on hot-rolled carbon steel plate from China on the grounds that cheap imports could harm Canadian firms, Ottawa said on Tuesday. The Canadian International Trade Tribunal - which first imposed the duties in 1997 and extended them in 2003 and again in 2008 - said it had acted after carrying out a review.
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