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Carbon Steel News

Consolidation still the preferred restructuring plan

7th March 2003 In an industry where overcapacity and market indiscipline dominates, the most obvious advice is for rationalisation and consolidation. 

Auto industry a potential growth area for steel

7th March 2003 South Africa has a low-cost primary steel base, but sectors further beneficiating basic iron and steel have not performed to their full potential, a new report commissioned by Creamer Media’s Research Unit confirms. 

Steel price battle to rage in 2003

7th March 2003 Undoubtedly, the hottest topic of conversation in steel circles last year was pricing – and the debate will surely not die in 2003. 

Iscor expects auto-pricing resolution this month

By: Terence Creamer     14th February 2003 South African steel producer, Iscor, is optimistic that it will have concluded price discussions with the automotive industry by mid- to late-February when a final pricing package for 2003 will be put in place. 

Iscor investors approve LNM waiver request

13th February 2003 Minority shareholders in South African steel producer Iscor agreed yesterday to waive a requirement that steel heavyweight LNM Holdings offer to buy out all minorities once its stake exceeds 35%. 

SA steel consumption growth boosts Hiveld

12th February 2003 South Africa’s second-largest steel producer, Highveld Steel and Vanadium, reported a significantly higher operating profit for the year ended December 2002, on the back of a strong local steel market, improved export steel and ferroalloy selling prices, and a weaker rand. 

Iscor says strike threat is premature

7th February 2003 South African steel producer Iscor said yesterday threats by union members of a strike were premature and the company would try to resolve grievances as soon as possible. 

Iscor expects auto-pricing resolution this month

By: Terence Creamer     5th February 2003 South African steel producer, Iscor, is optimistic that it will have concluded price discussions with the automotive industry by mid- to late-February when a final pricing package for 2003 will be put in place. 

Iscor minorities clash over new LNM partial offer

30th January 2003 Minority investors in South African steel producer Iscor locked horns yesterday over a revised partial offer by steel giant LNM Holdings, sparking a slide in the share price. 

Iscor minorities clash over new LNM partial offer

29th January 2003 Minority investors in South African steel producer Iscor locked horns yesterday over a revised partial offer by steel giant LNM Holdings, sparking a slide in the share price. 

LNM sweetens partial offer to Iscor minorities

29th January 2003 Steel giant LNM Holdings sweetened its partial offer to minority investors of South Africa's Iscor yesterday, in a move blessed by the largest minority holder, Old Mutual. 

Iscor meets auto firms on steel price hikes

By: Terence Creamer     28th January 2003 Steel producer Iscor met individually with several automotive manufacturers during the course of last week, and will continue to do so this week, in a bid to solve differences over planned price increases for 2003. 

Iscor mulls expansions at Vanderbijl, Saldanha

By: Terence Creamer     24th January 2003 Following several years of rationalisation, steelmaker Iscor is considering two brownfields expansion opportunities. 

Iscor mulls expansions at Vanderbijl, Saldanha

By: Terence Creamer     24th January 2003 Following several years of rationalisation, steelmaker Iscor is considering two brownfields expansion opportunities. 

Iscor shareholders give LNM more time to consult

23rd January 2003 Facing opposition to its partial offer for South Africa's Iscor, LNM Holdings won investor approval yesterday to adjourn a shareholders' meeting, allowing time for more talks with minorities. 

Crunch-time for LNM offer

20th January 2003 Steel giant LNM tried to allay fears on Friday that its partial offer for Iscor was an attempt to wrest control without full payment, saying it would offer to buy the whole group should its stake exceed 60%. 

Stainless-steel cladding now slowly gaining market share

By: candice haase     17th January 2003 Stainless-steel cladding in a high traffic area inside a retail building 

SA stainless steel prices rise 6,4% following review

By: Martin Czernowalow     17th January 2003 South Africans can expect to pay about 6,4% more for stainless steel as of this month, Engineering News Online can report. 

LNM revises Iscor offer

17th January 2003 Dutch-based LNM Holdings said on today it was committed to making an offer to acquire the shares of Iscor minority shareholders should its shareholding in the steel group reach 60%. 

Iscor to focus on steel-sector consolidation

By: Terence Creamer     15th January 2003 Domestic steel producer Iscor will actively pursue consolidation opportunities in the South African steel industry over the next three years, CE Louis van Niekerk revealed at a presentation yesterday. 

Iscor earnings rise as Saldanha recovers

14th January 2003 South Africa's largest steel maker, Iscor, said today its interim headline earnings per share rose sharply and said it expected dollar earnings to remain at the same level in the second half. 

Iscor earnings seen up on prices, demand

10th January 2003 South African steel group Iscor is seen posting a sharp increase in first-half earnings next week, buoyed by higher steel prices and demand and a big contribution from its Saldanha mill, analysts said yesterday. 

Saldanha Steel set to produce 1,3mt/y

6th January 2003 Saldanha Steel, Iscor’s state-of-the-art steel mill on South Africa’s west coast, reached a new monthly production record of 106132 tons for December - Iscor is also confident that the plant is set to breach its nameplate capacity of 1,2-million tons a year. 

No announcement yet on steel plants

By: marisa rodrigues     13th December 2002 German industrial services firm Ferrostaal’s plans for the Coega Industrial Development Zone continue to be fuelled by speculation. 

South African giant responds to criticism over steel prices

By: Terence Creamer     13th December 2002 South Africa’s leading steel producer, Iscor, has been experiencing an extremely powerful recovery over the last year. However, some critics argue that this has been at the expense of its South African customers. Iscor responds. 

LNM says auto sector is to benefit from its bigger Iscor stake

13th December 2002 The world’s second-largest steel producer LNM – which yesterday made a $175-million offer for 12,19% of Iscor’s share capital – says the deal will ensure a greater level of access by Iscor to its latest-generation steel making technology, which will be of particular... 

SA probes alleged steel dumping by Australia

By: Martin Zhuwakinyu     13th December 2002 The Board on Tariffs and Trade (BTT) has, at the prodding of steel company Iscor, launched an investigation into Australian companies accused of dumping various steel products in the Southern African Customs Union (Sacu). 

Stainless-steel price hike to influence components sector – Naacam

By: candice haase     6th December 2002 The price of South African stainless steel is set to increase. 

R3m for low-nickel stainless study

By: Martin Zhuwakinyu     6th December 2002 Mineral and metallurgical technology organisation Mintek has embarked on a R3-million project aimed at developing a special 200-series type stainless steel with a low nickel content, which could eventually replace carbon steel in selected structural applications. 

Car manufacturer aims to double production, increase local content

By: candice haase     6th December 2002 Engineering News offers its condolences to the Wessels family on the untimely passing of Bert Wessels, whom this news magazine had come to love and respect. 

LNM claims $175m Iscor offer will benefit auto industry

By: Terence Creamer     4th December 2002 The world’s second-largest steel producer LNM – which yesterday made a $175-million offer for 12,19% of Iscor’s share capital – says the deal will ensure a greater level of access by Iscor to its latest-generation steel making technology, which will be of particular... 

Component maker warns on SA raw material prices

By: Helene Le Roux     2nd December 2002 After a presence of more than half a century the South African-bred automotive component manufacturer with global standing, Bosal, is reaffirming its commitment to the country by investing in its local operations – with one big caution: keep your raw material prices right. 

Local irrigation systems exported to Iraq

By: Helene Le Roux     29th November 2002 In a project funded by the United Nations (UN), a South African company’s locally-manufactured quick-coupling agricultural irrigation systems are being used to make Iraq’s arid farmlands bloom. 

Exhaust component manufacturer to triple output by the end of next year

By: Helene Le Roux     29th November 2002 The local division of the global Bosal Group, a major manufacturer of exhaust systems in the world, will be trebling its manufacture of South African stainless steel exhaust components by the end of next year. 

Increased exports possible

By: Helene Le Roux     29th November 2002 Kenny van Rooyen, commercial manager for the Bosal Group’s South African division, Bosal Afrika, says the good quality and current competitive price of South African stainless steel manufacturing presents a window of opportunity for increased exports. 

Component maker warns on SA raw material prices

By: Helene Le Roux     29th November 2002 After a presence of more than half a century the South African-bred automotive component manufacturer with global standing, Bosal, is reaffirming its commitment to the country by investing in its local operations – with one big caution: keep your raw material prices right. 

SA begins dumping probe into Aussie steel

By: Riaan de Lange     29th November 2002 Antidumping Investigation – November 15 Notice of the initiation of an investigation into the alleged dumping of flat-rolled products of iron or non-alloy steel, painted, varnished or coated with plastic originating in or imported from Australia. 

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