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July 30th  - General London U.K. - Meps forecasts record high iron and steel production in 2011 and 2012
MEPS remains quite upbeat about the prospects for global iron and steelmaking this year and next. World steel output is predicted to reach 1395 million tonnes in 2010 - up by 14 percent on the year earlier figure. A further expansion of 3.9 percent is anticipated in 2011. The bounce back in global steel mill activity this year will be strongly influenced by the recovery in industrialised countries of the world. The economic crisis in the West in 2009 resulted in their share of global steel output falling to just 25 percent. This year, the figure will climb to near 28 percent. We should not forget, however, that the emerging and developing nations will contribute around 100 million tonnes (57 percent) of the rise in steel production this year. This amount will increase in the future as the proportion of construction activity in GDP growth drives up apparent consumption of steel per capita in these countries.
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July 30th  - General New York City - North American and Japanese steelmakers paint gloomy picture
North American and Japanese steel makers painted a vastly more pessimistic outlook for the short-term prospects of the industry than MEPS as global prices have fallen and industrial demand is not recovering from the recession as quickly as expected. The negative outlook from Japan to North America sent steelmakers’ shares tumbling. U.S. Steel Corp complained about slower order rates and AK Steel Holding Corp said it is cutting production capacity to match weak demand from big steel buyers like the automobile and construction industries. “Prices have just collapsed and a lot of people have not recognized that yet,” said analyst Charles Bradford of Affiliated Research Group. Over the past year, steel prices had slowly risen, but in the last couple of months they have slipped back as demand has stalled and raw material costs have risen. Dahlman Rose & Co analyst Tony Rizzuto said the price of U.S. hot-rolled coil steel dropped 3.8 percent in just the last five days. “Too much capacity came back on line too soon,” said Bradford, noting U.S. capacity use rates had risen from about 45 percent last year to an average in the 70 percent range now.
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July 30th  - General Abu Dhabi UAE - Emirates Steel output surges 45% in first half
Emirates Steel said on Tuesday that its finished products output surged 45.4 per cent in first half while sales recorded 30 per cent growth over corresponding period last year. The Abu Dhabi-based company said production of rebar grew by 26 per cent during the first half of the year, compared to the first six months previous year; while the output of wire rod went up by a significant 283 per cent. In a statement yesterday, the company said exports of steel products more than doubled during the period. “The company sells around 80 per cent of its products to the local markets, while the rest is exported to Jordan, Saudi Arabia, Kuwait, Oman, India, China, the Far East and Pakistan,” the statement said. Emirates Steel is a subsidiary of Abu Dhabi Basic Industries Corporation (ADBIC) which is, in turn, wholly-owned by General Holding Company (GHC), an industrial arm of Abu Dhabi government.
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July 27th  - Projects Sallisaw Oklahoma - New raw water transmission line to provide six million gallons a day
Workers with S and J Construction Company Inc. have started construction on a new raw water transmission line, which will provide six million gallons of water a day for the City of Sallisaw. “This line parallels our old line all the way from the water plant to the lake. It will have the capacity to take care of our water needs for the next 50 years,” Bill Baker, Sallisaw city manager, said. “The project started June 1 and is an eight-month contract, so it will be finished around Jan. 31,” Baker said. “We will install a total of 29,000 feet of raw water transmission line and right now we have laid a little over a mile to date,” Dayne Moreton, Hawkins-Weir Engineers Inc. on-site inspector, said. “The transmission line was awarded March 8 to S and Construction Company, Inc. in Jacksonville, Arkansas for $2,590,180.23 but we added $200,032.38 to it to comply with Buy America,” Baker said. “Buy America means all the supplies and materials for this project the contractor has to be American made. The reason we did that is because the state has told us we on number one of the list now if anymore stimulus funds comes down for water projects,” Baker said. “The council did that because if there is anymore stimulus funds coming to Oklahoma we could get up to $1.6 million,” Baker said. The projects are funded by the Sallisaw Municipal Authority with Drinking Water State Revolving Fund loan funds from the Oklahoma Department of Environmental Quality in cooperation with the Oklahoma Water Resources Board.
July 24th  - Market Stats Rolling Meadows, Illinois - Worrisome trend develops in the steel market.
MSCI just-released monthly steel inventory/shipment data showed a worrisome 5.9% increase in monthly inventory tonnage and a jump to 2.5 months' supply (adjusted), the highest tonnage level since March 2009. The increase was almost entirely driven off of the flat-rolled market, where inventories rose 9.2% to the highest level since January 2009. Average daily shipments in June rose 0.5% overall, bucking the normal seasonal trend of a decline averaging around 2%. Other products that showed far healthier inventory behavior were plate, where inventories were up a modest 1.6%, bar, up 2.8% and beams, which declined 0.8% in the month.
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July 24th  - General Washington D.C. - SSTTAC members express concern about dumped imports
The members of the Stainless Steel Tube Trade Advancement Committee (SSTTAC), a group of domestic seamless stainless steel pipe and tube manufacturers, today expressed concern about increasing examples of apparently dumped imports from foreign producers. "As our economy slowly recovers, our member companies are seeing more and more examples of apparently dumped imports from foreign producers. Leading the charge is China. Based upon official U.S. government data, imports from Chinese producers are coming in at one-third to one-half the value of most other foreign producers. The Chinese prices in the market tend to be 25 to 50 percent lower than prevailing market prices," according to David A. Hartquist, counsel to SSTTAC.
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July 24th  - Personnel Pittsburgh Pennsylvania - Tube City Ims announces promotions
Tube City IMS Corporation, a provider of products and services to steel mills and foundries globally, announced today the promotion of three executives. Joseph Jung has been promoted to Vice President – European Operations. He will be responsible for the Company’s mill services operations in Europe and will be based in France. Prior to his promotion, Mr. Jung had been Vice President – Scarfing/Metal Recovery at the Company’s operation in Middletown, Ohio. Mr. Jung joined the Company in 1987 and has held various positions of increasing responsibility in the Operations department. He will continue his responsibility for the Company’s global surface conditioning operations. Pascal Martin has been promoted to General Manager and will be responsible for the Company’s U.S.-based surface conditioning operations. He returns to the United States after nearly three years at the Company’s site in Kosice, Slovakia, directing the successful startup of the surface conditioning operation. Mr. Martin joined the Company in 1987 and has held various positions of increasing responsibility in the Operations department at the Company’s operations in Ohio, Indiana, Pennsylvania and Michigan. He will be based at the Company’s office in Chicago. Jean-Claude DeMay has been promoted to Site Manager of the Company’s surface conditioning operation in Kosice, replacing Mr. Martin. Prior to his promotion, Mr. DeMay was Superintendent of Scarfing and Metal Recovery at the Company’s operation in Claymont, Delaware. Mr. DeMay joined the Company in 1987 and is relocating to Kosice. The Company also announced that Andy Torn has joined the Company’s subsidiary, Tube City IMS UK, based on Scunthorpe, England, as Operations and Commercial Manager. Prior to joining the Company, he worked at Corus, a Tata Steel Group company, in the UK. “I am delighted to announce the promotions of Joseph, Pascal and Jean-Claude and to welcome Andy to the team,” said William Miller, Executive Vice President -- Operations, Tube City IMS. “All are dedicated, hard working professionals with extensive experience and insight. We look forward to their continued contributions to the Company.”
July 20th  - General Lincolnshire,Illinois - RathGibson emerges from bankruptcy
RathGibson, a leading manufacturer of welded, welded and drawn, and seamless stainless steel, nickel, and titanium tubing, is pleased to announce their emergence from bankruptcy and their transition of ownership to an investment group led by Wayzata Investment Partners. The name has changed from RathGibson, Inc. to RathGibson LLC. While the ownership and name have changed, RathGibson remains committed to providing the same high quality products, services, technology, and innovations on which their customers and channel partners depend. “Wayzata and its partners are making a significant investment in our business because of their high level of confidence in our people, products, and future,” said Michael Schwartz, President and CEO. “Joining forces with Wayzata allows us to focus on opportunities to provide tubing solutions throughout the world.” Throughout the financial restructuring, RathGibson received significant support from its employees, customers, channel partners, and suppliers.
July 20th  - General Harrow, Ontario - Senator Deborah “Debbie” Stabenow (D-Mich) seeks fair global economy
Atlas Tube, one of America’s largest steel tube manufacturers, is facing competition from overseas, particularly China. Senator Deborah “Debbie” Stabenow (D-Mich) is working to change that. She is working to change the exchange rate for Chinese currency to mitigate there advantage in the prices on market. She theorizes that “some countries undervalue their currency to give themselves a competitive advantage in the global economy.” She contends China is one of these countries, undervaluing there currency by as much as 40 percent.
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July 20th  - Projects Amagasaki, Japan - News item we missed Sumitomo Metals to increase nuclear power plant tube capacity.
On April 8, Japanese steelmaker Sumitomo Metal Industries, Ltd (Sumitomo Metals) announced that it has decided to expand the production capacity at its Steel Tube Works in Amagasaki, Hyogo Prefecture for steam generator tubes (SG tubes) to be used in pressurized-water reactor (PWR) nuclear power plants. By this investment, Sumitomo Metals will increase the production capacity of SG tubes by approximately 2.7 times the actual production in the fiscal year 2008. The investment amount is approximately JPY 14 billion ($150.25 million), and the increased production is scheduled to start in April 2013.
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July 17th  - General Brantford Ontario - Holiday news schedule
During the summer vacation period July 15 to August 31 we will publish our news bulletin twice a week
July 17th  - Acquisitions Conshohocken Pennsylvania - Quaker Chemical buys Houghton aluminum hot roll unit
Quaker Chemical Corp. said Friday it has acquired an aluminum hot rolling oil business from Houghton International in a move to expand its primary metals business. The D.A. Stuart business had 2009 sales of $7 million. Quaker Chairman, President and CEO Michael F. Barry said the aluminum hot rolling market has strong long-term growth prospects, especially in emerging economies such as Russia, South America, Eastern Europe, the Middle East and Asia. Quaker Chemical makes products and services for the steel, automotive, mining, aerospace, wire, tube and pipe, coatings and construction industries. For the year ended Dec. 31, the company posted sales of $451.5 million. Financial terms of the deal were not disclosed.
July 17th  - General Hamburg Germany - Fire incident at the Aurubis works in Hamburg
Yesterday at about 5.30 p.m. part of the molten copper in one of the two anode furnaces leaked out for reasons as yet unknown. The 1,200 ºC hot melt caused cable to ignite under the anode furnace. In addition, there was a deflagration. A deflagration of this type occurs when hot melt comes into contact with water. No one was injured during the incident and the environment was not affected. The building was not damaged in any way. The company’s own fire brigade and the professional fire brigade and voluntary fire brigade, which were called in, quickly succeeded in extinguishing the fire. About 120 fire fighters were in action at times. By 9 p.m. most of the fire brigade were able to leave the plant. As a precaution, the site of the fire was kept under surveillance throughout the night.
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July 17th  - Reports Pune India - ISMT sees revival in Automotive demand hikes output 35%
Alloy steel and metal tubes manufacturer ISMT has hiked its steel tube manufacturing capacity by 35%. A demand revival in the auto sector has led to the current hike in capacity. The auto ancillary company expects overall growth to be strong going forward. In an interview with CNBC-TV18, Rajiv Goel, CFO said we have completed the expansion. It cost us Rs 350 crore. And the expansion is on stream from May this year. We have a capacity of 475,000 vehicles available to us.
July 15th  - Projects Changzhou, Jiangsu province China - Jiangsu Changbao acquires land in Jiangsu Province
SteelGuru reports that Jiangsu Changbao Steel Tube Co Ltd, one of the biggest seamless steel tube producers in Jiangsu Province with the registered capitals of CNY 330.6 million takes a land of 260,000 square meters. In recent times, the company has finished its IPO planning to issue 69.5 million shares to the market and spend CNY 0.774 billion investing ERW660 welded steel tube project. The company eyed a profit loss for consecutive seven years with the deficit volume hitting at CNY 0.255 billion in 2001. And the company presented upward trend after 2004 and 2005 along with the whole market maintained a better momentum of development. Recently Jiangsu Changbao Steel Tube was planned to use CNY 0.774 billion to build ERW660 welded pipe project which may produce 0.3 million tonnes per year of ERW welded steel pipe after it completes.
July 14th  - General Tranås Sweden - That speculators take delivery to depress inventory does not seem enough to change downward trend
Copper continued to decline on Monday, as the trend was negative after reduced import numbers from China. Chinese imports fell by 17% in June to 328231 tonnes on a monthly basis. On a yearly basis the imports were down by 31% from 475999 tonnes. Markets lack energy to move forward and any brief rise is faced by Chinese importing future. The Monday session was in red and the opening in major exchanges is down on Tuesday. It seems that the market breadth relating to Copper is still weak and decline in inventory levels that is at 7 month lows is not bringing enough push forward. Shanghai Copper benchmark contract is down by 670 yuan to 52880 yuan per tonne. COMEX Copper is down by 1.9 cents and now trade at $ 2.990 after closing at $ 3.009 per lb on 12 July 2010. Copper on MCX closed the trading at Rs 312.75 per kg, down Rs 3, or 1%. The prices are expected to remain in a negative zone today with supports at Rs 310-308 per kg levels. LME warehouse stocks of Copper was down by 1650 tonnes today and now is at 435250 tonnes, levels not seen since November 2009. But it has hardly made a difference in the negative trend of Copper so far.
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July 13th  - Reports Moscow Russia - TMK experience strong pipe demand in Q2
Russia's largest producer of steel pipes for the oil and gas sector, said on Monday second-quarter core earnings would be slightly above first-quarter levels thanks to strong market conditions. "As a result of the strong market environment observed in the second quarter of 2010, the company expects EBITDA (earnings before interest, taxation, depreciation and amortisation) to slightly increase as compared to the first quarter," TMK said in a statement. The pipe maker is experiencing strong demand in its home market as well as sharply higher North American sales, where its TMK IPSCO unit supplies equipment for gas drilling in the Marcellus Shale field in the eastern United States, the largest shale gas field in North America. In Russia, TMK supplies several Gazprom projects as well as Rosneft's Vankor and a number of other east Siberian oil fields. TMK also said it was able to maintain its profitability levels through the second quarter despite higher raw material costs.
July 12th  - General Sault Ste. Marie Ontario - Steel remains backbone of Canadian manufacturing
Despite fears of a potential "earthquake" impact to primary steel producers, such as Essar Steel Algoma, as a result of new billing procedures by essential raw material suppliers, the future is not all doom-and-gloom for the Canadian steel sector. Peter Warrian, author of a recently-released extensive 47-page report on the state of the Canadian steel industry, told a sparse Sault Ste. Marie audience Thursday that "steel remains the backbone of advanced manufacturing in this country. The industry was critical to Canada in the past and should remain so moving forward." The report, commissioned by the Canadian Steel Trade and Employment Congress, offers insight into foreign ownership and the forces currently impacting the industry both domestically and globally. Seventeen of 18 primary Canadian steel facilities are controlled by global companies, said the acclaimed steel academic with the Munk Centre of International Studies at the University of Toronto, including Tenaris Algoma Tubes and Essar Algoma in Sault Ste. Marie.
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July 10th  - Market Stats New York City - Steel prices seen dipping further as demand stalls
Too much production and not enough demand is driving U.S. steel prices down again, while there is concern over rising Chinese imports, analysts and industry experts say. Charles Bradford, an analyst with Affiliated Research Group in New York, said steelmakers miscalculated demand recovery and brought back too much capacity at mills that had been idled after the 2008 recession. Michelle Applebaum, an analyst with Steel Market Intelligence in Chicago, said uncertainty is driving the market. "Uncertainty inhibits import market share as domestic buyers become reluctant to commit to the three-month lead time for foreign steel. "To the extent that domestic prices are relatively low on a global scale, we expect to see further declines in import market share." But Applebaum said there was concern about the surge in Chinese imports undercutting domestic steel, despite recent changes in export tax rebates. In June, imports of value-added sheet grades from China jumped 23 percent, mechanical tube was up 23.5 percent, line pipe rose ten-fold from May to June. Cold-rolled bar imports surged 71.4 percent from May and stainless steel overall was up 36 percent to the highest level in nearly two years, she said. "To the extent that it was fear driving steel prices down so far over the past few weeks, we see that hope seems to be stemming the declines. "Sustainability of these trends really depends on production cuts in China."
July 9th  - General Mumbai India - China may continue ruling copper prices
At a time, when copper prices have showed a fresh uptrend over past one week on the London Metal Exchange (LME) and Indian commodity bourse, Multi-Commodity Exchange (MCX), the price outlook for the red metal seems firm in anticipation of a strong demand from world’s largest copper consumer, China. Copper prices hit the highest level for over a week’s time on Thursday, July 08, 2010 gaining momentum from a falling dollar and rallying global equities markets. In addition to it, International Monetary Fund (IMF) maintained positive outlook for the global economic growth to be upwards from the previous forecast of 4% to 4.5%. However, China factor will continue to drive the metal prices in coming months. In an interaction with CommodityOnline, Ratan Mardia, Managing Director, Nissan Copper Ltd - India’s leading copper tube manufacturer maintained that China has been the main buyer for copper over the years and this year too it will continue to affect prices with its strong buying position. Over past few months, China has been stock piling copper in a major way, affecting prices to scale newer heights. But in recent months, copper prices have been seen in a bearish trend owing to the global economic concerns. I believe that copper prices will continue to hover between $6500 per tonne to $7500 per tonne,” said Mardia adding that China will continue to remain key buyer of the red metal in coming days.
July 9th  - General Beijing China - Mexico slaps AD duty on Chinese spiral welded steel pipe
Beijing News quoted that the Ministry of Commerce revealed that Mexican government decided to impose provisional anti dumping investigations on spiral welded steel tubes imported from China, which it said were competing unfairly in the Mexican market. The economy ministry found in an investigation that Chinese seamless steel pipes, were sold below the local market prices, which greatly impacted the national industry. As per report, the involved spiral welded steel tube, with the diameter of more than 8 inches and thickness of no more than 50.8mm, owns an API5L certification. And the involved tax code is 7305.1901. Tamsa and Tumex two major applicants of this case jointly lodged a complaint to Mexican government. The inquiry period may start from July 1 2009 to June 30th 2010 and the interested parties should submit the relevant data and reports to the Mexican authorities during the survey period before 14:00 PM August 11th 2010.
July 8th  - General Austin Texas - Texas may require utilities to replace steel gas lines to prevent explosions
Natural gas utilities might have to dig up neighborhoods across Texas to replace hundreds of thousands of steel service lines to prevent explosions. Railroad Commissioner Michael Williams will propose today that the commission require Atmos Energy and other utilities to replace the lines, which bring natural gas from pipelines under neighborhood streets to homes. Texas has at least 525,000 steel lines, maybe a million, he said. The project could cost more than $500 million, possibly borne by customers. "It would be the largest replacement program the Railroad Commission has ever done," he said. Regulators targeted the service lines after several deadly home explosions. The problem is that the old service lines are made of rigid steel, which can shift and corrode. Williams wants utilities to replace the steel with new plastic lines. Depending on how the commission might structure an order, the replacements could take up to 10 years to complete. Creating a rule to require the replacements will take months. Atmos officials will not talk about the issue. The publicly traded utility is already replacing some lines, but refuses to disclose what is happening. It's unlikely that Atmos, CenterPoint Energy and other utilities would be on the hook for the $500 million cost. On the contrary, utilities typically may charge ratepayers for the cost of new infrastructure, plus a 10 percent profit.
July 7th  - Projects Tokyo Japan - Nippon Steel to start producing steel pipe and sheet piles in Vietnam
Nippon Steel Corporation said that it would start producing steel pipe and steel sheet piles in Vietnam to tap burgeoning infrastructure projects in Asia and Oceania countries. Vietnam plans a large number of infrastructure projects such as railways, roads, ports and power generation, while demand for construction steel has halved in Japan in the past two decades due to the maturing economy and public spending cuts. The Vietnamese plant, near Ho Chi Minh city, will be Nippon Steel's first overseas production base for construction steel and will start operating in May 2011 with a capacity of 5,000 tonnes a month.
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July 6th  - General Beijing China - Aluminium alloy tubing industry will experience new growth
Himfr reports that China is a super-producer of air conditioners, with total annual demand of more than 80 million units. It is expected that aluminium will replace copper market capacity on behalf of more than 20 billion yuan. At present, the proportion of aluminium alloy on the market is less than 7%, so the future development space is very broad. Himfr's market experts believe that alternative materials will be the inevitable trend for cooling pipeline product development, but currently air conditioner use aluminium alloy.
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July 3rd  - General Brantford Ontario - We join USA in celebrating the 4th of July
Next news bulletin Tuesday July 6
July 2nd  - Joint Ventures Changzhou China - Vallourec & Mannesmann Tubes invests USD $289 million in Changzhou Hi-tech District
On June 22nd, French company Vallourec & Mannesmann Tubes signed an agreement with the Changzhou National Hi-tech District Administrative Committee to invest USD $289 million to implement a phase II expansion project with annual production capacity of 60,000 tons of wide-bore, heavy-walled seamless steel piping. The project is expected to go into production in 2013. Since 1996,Vallourec & Mannesmann Tubes has funded four enterprises in the Changzhou National Hi-tech District (CND), in eastern China's Jiangsu province. These companies are Changzhou Valinox Great Wall Welded Tube Co., Ltd.; V&M (Changzhou) Co., Ltd.; VAM (Changzhou) Oil & Gas Premium Equipments Co., Ltd., and Changzhou Carex Valinox Components Co., Ltd. To date, the company has invested over USD $170 million in Changzhou.
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July 1st  - General Brantford Ontario - Celebrate Canada Day with us
Next news bulletin July 2
June 30th  - Market Stats Shanghai China - Copper dragged down by tumble in China stocks
London copper fell 3 percent on Tuesday while Shanghai copper was down nearly 2 percent, dragged down by a firmer dollar and sharp falls in China's stock market amid worries about the economic recovery. The Shanghai Composite fell more than 4 percent and broke below a near-term support level, as investors pulled fund from the market to prepare for a major IPO by Agricultural Bank of China. "It's the stock market that is dragging down the metals, even though copper's fundamentals are not bad," said a Shanghai-based trader, adding that copper might move even lower in the short term. Europe's financial crisis also remains a concern, as banks are due to repay nearly half a trillion euros to the European Central Bank on Thursday, leaving a potential liquidity shortfall in the financial system of over 100 billion euros. These concerns boosted the dollar, adding to the pressure on metals prices ahead of what are expected to be weak U.S. non-farm payrolls at the end of the week. Shanghai's benchmark third-month copper futures contract fell 1.9 percent to close at 52,940 yuan a tonne, retreating from a near one-month high of 54,490 yuan in the previous session. Three-month copper on the London Metal Exchange fell to $6,675 a tonne by 0701 GMT, down nearly 3 percent. The Shanghai-LME arbitrage closed, and LME stood at a premium of 127 yuan over Shanghai.
June 30th  - Reports Houston Texas - Friedman Industries, reports lower earnings for year but better 4Q than 2009
Friedman Industries, Incorporated a Texas-based company engaged in pipe manufacturing, steel coil processing and steel and pipe distribution, announced today its results of operations for the quarter and year ended March 31, 2010. Net earnings for the year ended March 31, 2010, were $652,024 During the year ended March 31, 2009, the Company recorded net earnings of $13,673,406 on sales of $208,779,750. For the quarter ended March 31, 2010, the Company reported net earnings of $1,062,258 on net sales of $23,328,900 compared to a net loss of $300,854 on net sales of $21,924,249 recorded during the quarter ended March 31, 2009.
June 30th  - Projects Youngstown Ohio - Groundbreaking at V&M Star
Youngstown Ohio June 30 Groundbreaking at V&M Star U.S. Sen. Sherrod Brown joined local elected officials, community leaders, and workers for the groundbreaking on a $650 million expansion of the V&M Star operation today. V&M's construction of a state-of-the-art pipe mill will generate 400 construction jobs in the next year and 350 permanent jobs. Full pipe mill operations are anticipated in late 2012. "Today's ground-breaking on one of Ohio's largest industrial projects represents what happens when the federal government enforces trade laws, invests in infrastructure, and works with the private sector to create jobs and promote long-term economic growth," Brown said. "Leaders in the Mahoning Valley have worked for decades to develop the right infrastructure, promote a strong business climate, and train a skilled workforce. It's working, and the whole world is taking notice." This project is possible, in part, by a nearly $20 million investment of American Recovery & Reinvestment Act (ARRA) funding for infrastructure improvements and transportation modifications on the industrial site. Another key factor was the enforcement of our trade laws, which created a fairer domestic market for the production of oil country tubular goods like the seamless steel pipe used for natural gas excavation. In Oct. 2009, the cities of Girard and Youngstown reached an agreement that advanced the development of land surrounding the V&M Star facility. The agreement enabled the utilization of recovery act funds, and made this site more competitive with other communities. Sen. Brown repeatedly highlights unfair trade policies that harm Ohio companies like V&M. On Dec. 30, 2009, the International Trade Commission (ITC) ruled that steel tube imports from China have injured the U.S. industry after Brown testified before the ITC on the issue. This ruling led to a border measure on imports to support domestic producers of steel pipe like V&M Star and Wheatland Tube. By addressing illegal Chinese trade practices, this decision helped increase demand for domestic production.
June 29th  - Projects Longview Washington - Port of Longview commissioners welcome steel-pipe manufacturer
Port of Longview commissioners are expected to sign a lease Friday to bring a new steel-pipe manufacturer to a 35-acre parcel the port once sold for a sawmill that never was built. Port commissioners will consider granting a lease to New Jersey-based Skyline Steel, a subsidiary of ArcelorMittal, the world's largest steel manufacturer, which is based in Luxembourg. The 3 p.m. meeting is at the Cowlitz Expo Center. The proposed lease includes plans for IDM Longview LLC to construct the building and sublet to Skyline, which calls itself North America's largest producer of steel-foundation products. Port officials say they will release the number of jobs the project will create at the today's meeting. Last month, Cowlitz County commissioners awarded a $300,000 state rural development grant to the port to build a rail spur and conduct other improvements to the 35-acre site to entice Skyline Steel.
June 28th  - General Pittsburgh Pennsylvania - SBB conference looks at steel tube role in shale play
The Steel Business Briefing (SBB) is gathering about 200 executives from the steel, gas, transportation, and other industries that could benefit from Marcellus Shale drilling to look at how the tube industry can take part in the expected growth. SBB North American Tube Editor Dan Hilliard says this could be the “rebirth of the steel industry in the region.” Hilliard says each well uses between 140 and 360 tons of steel tube. There are a few companies in the region making steel tube and Hilliard says he has heard that more are considering a move to southwestern Pennsylvania and Eastern Ohio. On top of the Hilliard says support industries will also be coming to the region including warehousing facilities and trucking companies. Hilliard says just keeping the tube in stock could become a problem or producers. The tube used in Marcellus drilling is not used in many other applications. The tube is consumed in the drilling, fracturing and extraction process and cannot be used again. Hilliard says, “it will be interesting to see where Pittsburgh and the local area is in 20 years as a result of this shale play.” The event begins Wednesday with a social event and then begins holding sessions Thursday morning in Pittsburgh.
June 25th  - General Tranås Sweden - There is no News bulletin today due to Midsummer festivities
Next News bulletin will be published Monday June 28
June 24th  - Reports Irving Texas - Commercial Metals Company reports $8.8 Million loss in Third Quarter
Commercial Metals Company reported a net loss of $8.8 million Tuesday on net sales of $1.8 billion for the 3rd quarter ended May 31, 2010. This compares with a net loss of $13.1 million on net sales of $1.3 billion for the third quarter last year. Net loss for the nine months ended May 31, 2010 was $213.3 million on net sales of $4.5 billion. For the same period last year, net earnings were $13.6 million on net sales of $5.0 billion. For the nine months ended May 31, 2010, after-tax LIFO expense was $16 million compared with income of $184 million last year.
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June 24th  - General Beijing China - China cuts commodities export tax rebates
China will scrap tax rebates to exporters of dozens of commodities including key steel products, corn starch, rubber products and ethanol, the finance ministry said, while they also face a rise in the yuan. The decision has disappointed local steel mills, which were hoping for more government support as they come up against potentially calamitous margin pressures in the third quarter as well as a further decline in exports as a result of the rising yuan. "Chinese steel exports have already been difficult and have lacked price competitiveness, and we will face a much tougher environment if some taxes aren't rebated," said an export manager with a major steel mill. China will cancel 5 percent rebates on exports of semi-finished copper products such as rods, bars, profiles and wires, and semi-finished nickel products including plates, sheets, strips, foils and tubes.
June 23rd  - Market Stats Tokyo Japan - Sumitomo Metal hikes price of A513 mechanical pipe
SteelGuru reports that Sumitomo Metal Industries has hiked the price of A513 mechanical pipe by USD 280 per tonne but kept ERW pipe price stay unchanged. Japan's pipe makers forecast that demands for mechanical pipes will keep rising, especially from China, India and Southeast Asia. On the other hand, they worried that demands from US, Australia, and Thailand may slow down if the stimulus policies weren't carry out continuously. Now the companies are talking to buyers on the contract of the fourth quarter, and it's said that they plan not to hike price due to rising raw material costs.
June 22nd  - Acquisitions North Andover Massachusetts - Watts Water to buy Austrian pipe maker
Watts Water Technologies, Inc. announced on yesterday that, in response to comments that have occurred in the marketplace, that it expects to acquire Austroflex Rohr-Isoliersysteme GmbH by the end of June. The proposed purchase is subject to the signing of a definitive purchase agreement and is conditioned upon the receipt of customary regulatory approvals.The contemplated purchase price will not be material to Watts' financial condition or cash resources. Watts will not make any further public announcements about the possible transaction unless and until a definitive agreement is reached. Austroflex is an Austrian manufacturer of pre-insulated PEX pipes for hot and cold water applications and pre-insulated stainless steel corrugated pipe used in solar- and high temperature applications. Watts Water Technologies, Inc. is a world leader in the manufacture of innovative products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications. Its expertise in a wide variety of water technologies enables it to be a comprehensive supplier to the water industry.
June 21st  - Projects Beijing China - Beijing may finance Greek cable and pipeline projects.
China is considering investments in two possible undersea energy links between Libya and Crete are under discussion. One is a natural gas pipeline from Libya. The other is a cable to carry electricity generated by a solar-powered complex in the Libyan desert. A delegation led by Zhang Dejiang, a Chinese vice-premier, would seal a series of agreements today with local companies, a Greek government official said.
June 21st  - General Beijing China - Yuan exchange rate to be more flexible
China is to allow the exchange rate of the yuan to be more flexible, after drawing western criticism for linking it to the US dollar for almost two years. However, the People's Bank of China gave no details about the timing or extent of changes. The yuan has been effectively pegged to the dollar, drawing criticism that China was protecting its exporters. Both the International Monetary Fund and the US Treasury Secretary Tim Geithner welcomed the move. The European Commission also approved. The United States has been particularly critical of Beijing, accusing it of keeping its currency artificially weak. The yuan has been held at about 6.83 to the dollar since July 2008. In July 2005, it was revalued by 2.1%. The People's Bank of China said the proposed exchange rate reform had been made possible by the global recovery. But it appeared to rule out a major appreciation, saying there was "no basis for big fluctuations or changes". The BBC says the announcement may be an attempt to preempt criticism of China's currency policies at a summit of the G20 group in Canada on 26 June.
June 19th  - General Huntsville Alabama - Wolverine Tube terminating pension plan as part of cost-cutting efforts
Wolverine Tube, Inc. ("Wolverine") announced today that it will be initiating formal action with the Pension Benefit Guaranty Corporation (the "PBGC") to terminate the Wolverine Tube, Inc. Retirement Plan (the "Plan") in what is known as a "distress termination". The Plan was frozen effective February 28, 2006 and future benefit accruals ceased as of that date. Wolverine's Board of Directors has determined that Wolverine can no longer afford the ongoing contributions necessary to maintain the Plan and, accordingly, Wolverine will be asking the PBGC to approve the termination of the Plan. Wolverine is hopeful that it will be able to work with the PBGC to resolve all Plan liabilities pursuant to terms that are acceptable to the PBGC and affordable for Wolverine.
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June 18th  - Projects Houston Texas - Pipe firm to build plant in Thailand
Canadoil Group, a producer of specialized pipes for oil and gas projects, said on June 17 it would invest more than $600 million to build a plant in eastern Thailand. The group said the new facility, based in Rayong province, would produce high grade metal, alloy and steel plates used to make pipes for the energy industry, and would "contribute significantly" to the Thai economy. Privately owned Canadoil, which was established in North Italy and now has a strong presence in Asia, said the new plant was expected to become operational in 2012. It said it would be one of only a handful of facilities in the world able to produce the quality of metal plates required in demanding oil and gas piping projects, employing 1,000 workers once operations begin.
June 17th  - General Washington D.C. - Turkey's Toscelik wins preliminary round in US steel trade case
Light-walled rectangular pipe and tube may not rank among the sexy, major-volume steel products traded globally, but the US Department of Commerce's International Trade Administration said Tuesday that it has preliminarily found "that [Turkish steel producer] Toscelik did not make sales at less than normal value" into the US market. The finding is worth noting because most recent steel trade cases involving the US and offshore producers have been determined in favour of domestic industry, especially cases against China. Nonetheless, the Commerce Department has been conducting an administrative review of the antidumping duty order on light-walled rectangular pipe and tube from Turkey and so far that country has been spared.
June 16th  - General Lincolnshire Illinois - The start of a new era for RathGibson
RathGibson, a leading manufacturer of welded, welded and drawn, and seamless stainless steel, nickel, and titanium tubing, is pleased to announce their emergence from bankruptcy and their transition of ownership to an investment group led by Wayzata Investment Partners. The name has changed from RathGibson, Inc. to RathGibson LLC. While the ownership and name have changed, RathGibson remains committed to providing the same high quality products, services, technology, and innovations on which their customers and channel partners depend.
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June 15th  - Market Stats Beijing China - Steel prices decline for seven consecutive weeks
On June 9, Wuhan Iron and Steel and Anshan Iron and Steel, reduced prices of their main products by 300 yuan to 1,200 yuan, respectively, after Baosteel cut their prices to the same amount. Data released by the General Administration of Customs on June 10 shows that China had only imported 52 million tons of iron ore in May, the first decline since April and the first decline over the same period of last year. According to data from the Beijing Lange Steel Information Research Center, China's steel products market has decreased steel prices for seven consecutive weeks, with the average price of long steel products and steel sheets declining to 5,185 yuan per ton on June 4, down 428 yuan per ton from the end of April.
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June 14th  - General Washington D.C. - Chinese steel drill pipe faces stiff US Tariffs after ruling
The U.S. Commerce Department issued preliminary duties of 15.72 percent on Chinese steel drill pipe Tuesday to compensate for subsidies that American companies say their competitors receive. Companies in China's DP Master Group, including DP Master Manufacturing Co. and Jiangyin Liangda Drill Pipe Co., are among producers that will pay the tariff, the department said. U.S. companies such as VAM Drilling USA Inc. and a subsidiary of Moscow-based OAO TMK asked for duties that would top 500 percent on about $119 million in imports of the pipe, used in oil drilling. The United Steelworkers union joined in the complaint. A final decision is scheduled for October. While the case continues, importers of the pipe will need to deposit the 15.72 percent with the U.S. government. Imports of the pipe fell to $119 million in 2009 from $194 million in 2008, according to the Commerce Department.
June 12th  - General Geneva Switzerland - Lamy urges more trade finance for developing countries
Director-General Pascal Lamy, in his keynote address to the Global Commodities Finance Conference in Geneva on 9 June 2010, warned that lower-income developing countries, particularly in Sub Saharan Africa, continue to face “strong constraints” in trade finance despite the return of liquidity to the bulk of trade markets. He said that concluding the Doha Round would significantly reduce “current distortions in the global commodities markets, particularly those that impact on developing countries”.
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June 12th  - Market Stats Tokyo Japan - Japanese steel export in April up by 62pct YoY
According to the Japan Iron & Steel Federation, Japan's export shipments of iron and steel products totaled 3,506,000 tonnes in April 2010, up by 62.8% YoY but down by 16.7% MoM, indicating a YoY increase for nine consecutive months, when their values totaled USD 3,485.59 million, up by 60.3% YoY. In terms of yen, the values totaled JPY 322.7 billion, up by 45.8% YoY. Of the total export shipments, ordinary steel products accounted for 2,411,000 tonnes, up by 75.6% YoY. Of the ordinary steel products exported, HR coils made up 753,000 tonnes, up by 71.3% YoY, galvanized sheets 483,000 tonnes, up by a factor of 2.4, heavy plates 267,000 tonnes, up by 3.7% YoY; CR coils 348,000 tonnes, up by a factor of 2.3; welded and butt welded pipes 93,000 tonnes, up by a factor of 3.8; shapes 61,000 tonnes, up by 52.0% YoY; electrical sheets 74,000 tonnes, up by 68.6% YoY; bars 56,000 tonnes, up by 26.1% YoY; wire rods 41,000 tonnes, up by 56.4% YoY and seamless pipes 54,000 tonnes, down by 4.9% YoY. In the breakdown of the total export shipments by main destinations, South Korea took 885,000 tonnes, up by 31.4% YoY; China 674,000 tonnes, up by 35.7% YoY; Thailand 374,000 tonnes, up by a factor of 3.6; Taiwan 300,000 tonnes, up by 43.8% YoY and the USA 123,000 tons, up by a factor of 2.4.
June 12th  - General Beijing China - Speculators run for cover as metal prices dive as many construction projects halts.
Zinc smelters in China have idled as much as 8.8% of capacity as prices decline when the Chinese government succeeds to cool the property market. Local researcher and data provider say that about 400,000 tonnes to 500,000 tonnes of the country’s 5.7 million tonnes of annual capacity have been suspended on output cuts and maintenance shutdowns. China is a major consumer of the metal used to galvanize steel The price of copper, used in pipes and wires has slumped 17% this year. Some of the smaller producers have brought forward their planned maintenance to help alleviate cost pressures and reduce the inventories they have on hand. Zinc on the Shanghai Futures Exchange has lost 35% this year, tumbling to as low as CNY 13,900 per tonne while London prices have shed 38% to USD 1,595 per tonne, the worst base metal performer. Stockpiles in warehouses monitored by the Shanghai exchange were 295,454 tonnes last week, the highest level since futures started trading in 2007.
June 11th  - General Johannesburg South Africa - KPMG report on steel is optimistic and in sharp contrast to analysts such as Meps and major players such as Lakim Mittal Arcelor/Mittal that are more cautious.
According to a KPMG International's Global Metals Practice report, the global demand for steel has bounced back strongly with producers now having to find ways to meet the sharp increase in demand. The report said that "As the global steel industry prepares for strong growth in 2010 and beyond, steel producers face the new challenge of meeting a sharp rise in demand for steel products while maintaining profit margins in the face of rising input costs." Early indications of a recovery began in the first quarter of 2009 when capacity utilization began to improve. By the second trimester of 2009, the world steel capacity utilization rate had increased to approximately 75 percent. Total world crude steel production has also shown relatively steady month-on-month increases since April 2009. For full report For full report use this link
June 10th  - Market Stats London U.K. - North America composite carbon steel price says steel prices peaked in May and will remain flat
Meps said in its steel forecast that North American Average All Products Composite transaction value moved up marginally in May. Long products prices remained relatively stable as a decline in scrap costs dampened market sentiment. Increases were noted for most flat categories in may, despite lower mill sales volumes. Many customers are concerned that the current price levels may be unsustainable in the short term. The weakening demand for raw materials has prompted us to make a downward revision to our short term predictions.
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June 10th  - Market Stats Tranås Sweden - Steel capacity glut continues to depress South China wire and rebar prices 3Q expected to hit prices hard
SteelGuru reported yesterday that in the recent week, Chinese domestic steel price is still going down. Although steel mills have already taken the initiative to stop the price fall, the price inversion between factory price and market price still exists, and the adjusting stage will last longer than predicted. Squeezed by both iron ore price and steel price, the third quarter of this year is supposed to be the toughest time. Leading Chinese steel markets like Shanghai and Beijing are experiencing a slow price fall, and the steel futures prices are also declining, which combined together are dragging down other markets, for instance, the prices of main steel species are all in the downward trend. Because of the apparent steel price inversion between factory price and market price, some steel mills are actively lowering the factory price. They expect that this round of steel price adjusting will last for some more time, and the state of consolidation can hardly be over in the short term. According to the analysis, the prices of rebar and wire rod in Chinese market still unstably go down, especially in the west-south and the middle-south markets which expect a decline of CNY 150, and the decline in other markets is controlled within CNY 100. After several weeks of price fall, now the steel market is showing its weakness.
June 10th  - Acquisitions Mumbai India - Hindalco contemplates copper mine acquisition in Australia
Asia's largest aluminium producer, Hindalco, is looking at acquiring a copper mine in Australia and has also plans to revive their defunct company Mt Gordon Copper Operations "Our objective is to get 40% of our need for copper concentrates from our own mines. We are falling short of that number," said Debu Bhattacharya, managing director, Hindalco Industries. Mr Bhattacharya declined to divulge further details and said that the company is currently evaluating the options. Aditya Birla Minerals Ltd, the Australian subsidiary of Hindalco, is also planning to re-open the Mt Gordon Copper Operations (BMGO). Mt Gordon was shut in January 2009 due to declining copper prices. MGO is currently under maintenance. It produced 57,093 metric tonnes of copper in FY10. Meanwhile, Hindalco's net profit jumped 711% at Rs3,925 for the year ended March 2010 from Rs484 crore in FY09. The company produced 3,32,000 kilo tonnes (KT) of copper in FY09 and plans to ramp up the production to 3,37,000KT next fiscal. The company's copper business revenue increased by 13% to Rs12,575 crore and earnings before interest, tax and depreciation (EBITD) jumped from Rs374 crore to Rs1,003 crore. Hindalco's copper sales stood at Rs12,575 crore in FY10 (up 13% from Rs11,098 crore in FY09). The company's copper business, which benefited from higher contracted treatment charges and refining charges, lost Rs750 crore on lower by-product credit, such as sulphuric acid. The three-month copper contract prices have dropped 24% from $8 per pound in April 2010 to $6.10 per pound (as on 8 June 2010) on the LME. Mr Bhattacharya said that he is not pessimistic about the future trend in aluminium prices and said that Europe should not be looked at as the only market.
June 9th  - General Hamburg Germany - Copper 2010 technical/scientific copper conference opened in Hamburg
Copper 2010 with more than 600 participants the largest symposium for copper worldwide was opened today in Hamburg. For three days specialists from 35 nations will be able to exchange ideas in a total of about 250 contributions and discussions. The range of topics varies from the preparation of the raw materials to the production and refining processes through to product applications and their customer markets. The symposium organiser is GDMB Gesellschaft für Bergbau, Metallurgie, Rohstoff- und Umwelttechnik e.V. (Association of Mining, Metallurgie, Raw Materials and Environmental Technology) in collaboration with five other specialist copper associations from copper-mining countries. Up to now this conference has been held in North and Latin America and is being organised this year in Europe for the first time.
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June 9th  - Product Releases Beijing China - Hengyang Valin Steel Tube develops P110 casing pipes
SteelGuru reports that Hunan Province based Chinese tube maker Hengyang Valin Steel Tube Co Ltd has successfully completed mass production of 1,000 tonnes of P110 grade sulfur resistant casing pipes, with the batch of products in question currently being delivered to oil fields belonging to China National Petroleum Corporation. As global resources become scarcer, oil and gas exploration is entering more severe environments. Thus, in line with customers' requests, Hengyang Valin Steel Tube has developed a series of anti-corrosion casing pipes and these products are now used in oil and gas wells where corrosive elements are present.
June 7th  - Projects Salisbury, Maryland - Plymouth Tube Co. approved by Rolls Royce PLC to supply steel tubing
Plymouth Tube Company’s Salisbury Plant has been recognized as an approved supplier by Rolls Royce PLC. In partnership with TW Metals, U.K., the Salisbury plant has worked to achieve Rolls Royce Plc Approval, which requires Nadcap accreditation. Plymouth Tube Company Salisbury is the only North American Stainless Steel tubing manufacturer approved for Nadcap Heat Treating including, the laboratory activities such as room temperature tensile, Rockwell hardness, and metallography. "It is truly an honor to be recognized as an approved supplier to a world class company such as Rolls Royce Plc” says Tom Holmes, National Sales Manager of Plymouth Tube Company. “Plymouth Tube Company continues to align our products and services to meet the stringent demands of the aerospace industry. This approval is one more example of our commitment to customer dedication and service during our 86 year history as a world leading supplier of tubular and extruded shapes.” Customers world-wide have gained comfort and peace of mind knowing their critical components and material are supplied by the strong combination of Plymouth Tube Company and TW Metals. High quality, superior delivery, and experienced customer service are only a portion of the benefits customers achieve by specifying Plymouth Tube Company Aerospace (PTCA) Steel Tubing and TW Metals.
June 5th  - General Welland Ontario - Lakeside Steel to add shift due to increased demand
Lakeside Steel Inc. said Tuesday it plans to hire up to 12 new full-time workers due to increased demand from the oil and gas industry. The company said it will add an additional shift to its stretch reduction mill due to demand for its tubing, casing and line pipe. Lakeside said it has secured $100 million in additional sales orders that will keep the mill loaded to capacity through September. "We are cautiously optimistic that this strong operational performance will continue over several quarters," Lakeside president and chief operating officer Ron Bedard said in a statement."Lakeside continues to focus on reducing costs, improving our balance sheet and potential opportunities for growth." Lakeside manufactures steel pipe and tubing for oil and gas, mining, automotive and commercial and industrial supply companies.
June 4th  - Projects Stockholm Sweden - Sandvik to supply seamless tubes to Aker
Sandvik Materials Technology has concluded a number of agreements for the delivery of high value added seamless tubes to the oil gas industry. The combined value of the agreements is SEK 700 million and deliveries will be made during 2010. The customer is the Norwegian company Aker Solutions and the tubes will be used for extraction of oil in different projects around the world. The tubes, to be delivered in continuous lengths of up to 30,000 meters, will be used in umbilicals, which are employed for such applications as remote operation of oil wells at large depths, down to 1,700 meters in these specific projects. Mr Peter Gossas president of the Sandvik Materials Technology business area said that "The oil gas industry places extremely high demands on product quality, performance and service life. The agreement further strengthens Sandvik's position as the leading supplier of advanced tubing for umbilicals in the oil gas industry."
June 3rd  - General Toronto Ontario - Surprise Surprise University of Toronto study finds steel industry essential to Canadian economy
Steelmaking is an increasingly knowledge-intensive industry, requiring a highly skilled workforce and creating the foundation for a productive modern economy, according to a comprehensive study by industry expert Dr. Peter Warrian of the Munk Centre for International Studies at the University of Toronto. The study, co-sponsored by the United Steelworkers, the Canadian Steel Producers Association and the Canadian Steel Trade and Employment Congress analyzes the history, evolution and future prospects of Canadian steel. "From an employment, value-added and environmental perspective, this is an industry Canadians should want in their future," commented Warrian.
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June 3rd  - General Ottawa Ontario - "Steel Days" promotes Canadian steel industry impact and sustainability
Leaders from Canada's steel industry are in Ottawa this week to meet with Cabinet Ministers, Members of Parliament and senior officials to discuss developments in Canada's steel industry, its economic and environmental performance, and how steel will contribute to a more innovative, geren and sustainable future. Running from June 1-3, Steel Days discussions with policymakers will address the steel industry's public policy interests, and priorities for working with governments to improve the investment and future growth prospects of the industry. Canada's steel and steel tubular products industry employs 30,000 Canadians, generating annual shipments of approximately $14 billion, including about $7 billion in exports.
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June 2nd  - General Moscow Russia - Steel product price from CIS in Middle East keep falling
SteelGuru reports that the prices for steel products from CIS in Middle East has kept falling in recent weeks. Actually, they have returned to the early March level. In particular, semis with the delivery in June are offered at USD 480 per tonne to USD 490 per ton FOB, wire rod and rebar prices fell to USD 530 per tonne to USD 540 per ton FOB. The Ilyich Steel Works of Mariupol keep decreasing the prices and offers HRC at USD 590 per ton FOB and less. Other Ukrainian and Russian mills offer similar products at USD 620 per tonne to USD 665 per ton FOB. However, the traders are looking for the buyers at USD 600 per ton CFR the Gulf and less. Certainly, the lowest prices are offered by trading companies which try to unload the stockpiles and ports. The manufacturers are also very flexible today. In March to April steel output in Ukraine almost reached 3 million tonnes per month, ie the capacities load exceeded 80%. Obviously, the production volume significantly exceeded the real demand.
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June 1st  - General Washington D.C. - Commerce Department amends preliminary determination of Sales at Less Than Fair Value for certain Seamless Carbon and Alloy Steel Standard, Line, and Pressure Pipe from the People's Republic of China
The Department of Commerce (``Department'') has determined that it made certain significant ministerial errors in the preliminary determination of sales at less than fair value in the antidumping duty investigation of certain seamless carbon and alloy steel standard, line, and pressure pipe (``seamless pipe'') from the People's Republic of China (``PRC''). As a result, we are amending our preliminary determination to correct certain significant ministerial errors with respect to the antidumping duty margins for a mandatory respondent and for exporters eligible for a separate rate, the department said.
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June 1st  - Projects Mumbai India - Surya Roshni to set up steel pipe plant in K'taka
Diversified business entity Surya Group today said that it will set up a new steel pipe plant, with an expected investment of Rs 50-60 crore, in Karnataka by the end of this year. This project is in sync with the company's plans to attain sales to the tune of Rs 3,500 crore from its steel business by 2012. “We have decided to set up a steel pipe facility in Karnataka, which may involve a capital infusion of Rs 50 to 60 crore,” Surya Roshni executive director Utkarsh Dwivedi today told PTI, adding that the plant's location is expected to be finalised by next month. “The main objective behind having a plant in Karnataka is to consolidate our southern markets, such as Andhra Pradesh, Chennai and Bangalore, where we have a strong presence in the steel pipe business,” he said. The new plant would be the company’s fourth steel facility. Post-expansion, the total capacity of its steel pipe business is expected to touch eight lakh tonnes per annum. “The Karnataka plant will have a production capacity of 1 lakh tonnes per annum,” he said. Surya Group currently has steel pipe facilities in Bhuj (Gujarat), Gwalior (Madhya Pradesh) and Bahadurgarh (Haryana), with an annual manufacturing capacity of seven lakh tonnes. The company manufactures GI and ERW pipes for various sectors, including infrastructure, real estate and the oil and gas industry.