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.
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.
South Korean steel mills have continued buying multiple bulk scrap cargoes at corrected prices since last two weeks. Massive scrap bookings comprising another 152,000 MT mixed scrap have been made for Mar-April deliveries this week.
This week observed strengthening of demand both in Turkey and Asian markets on limited inventories available.
South Korean steel mills have bought multiple bulk cargoes at corrected prices this week. Scrap purchase enquiries from US, Russia and Japan to South East Asian markets increased and steel mills remained in search for bulk cargoes at reasonable prices.