POSCO, ARCELORMITTAL S.A. and Nippon Steel & Sumitomo Metal Corporation are Dominating the Market for Global High Strength Steel Market in 2019

POSCO:

POSCO was established in 1968, and is headquartered at Pohang, South Korea. POSCO is engaged in designing, developing and providing steels worldwide. POSCO operates its business through two business segments Steel, Trading, Construction and Others. The company has its presence in Americas, Asia, Africa, Europe, Osania. The subsidiary of the company is POSCO DAEWOO (South Korea), POSCO ENERGY Co., Ltd. (South Korea), POSCO ICT(South Korea), POSCO Chemtech Co Ltd (South Korea), Posco Energy(South Korea) and others.

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  • In September 2018, POSCO enhances Free Education on AI, Big Data, and loT in Line with the Vision, this program will help in the free education courses on artificial intelligence, big data, and IoT for job seekers as well as for the public.
  • In June 2018, POSCO announced the engagement with the Tata Steel Europe (TSE) (U.K.), to exchange the high corrosion-resistant MagiZinc products. This agreement will plate the new technology of TSE to the company to enhance steel products in the automotive sector.

ArcelorMittal South Africa:

ArcelorMittal South Africa was founded in 1928, and headquarters is located at South Africa. ArcelorMittal South Africa is engaged in providing sustainable steel to mining companies. The company operates its business through the flat steel products, long steel products and coke & chemicals. The company has it presence in South Africa and Asia and various subsidiaries as Saldanha Steel (South Africa), Companhia Mozambique De Trefiloria (South Africa), Collect-A-Can (Pty) Ltd. (South Africa), Oakwood Trading 21 (Pty) Ltd (South Africa), ArcelorMittal South Africa Operations (Pty) Ltd (South Africa) and others.

  • In March 2014, ArcelorMittal South Africa received an award from Babcock for a contract to implement service line replacement as a part of greater Blast Furnace N4 reline project at Newcastle Works.

NIPPON STEEL & SUMITOMO METAL CORPORATION:

NIPPON STEEL & SUMITOMO METAL CORPORATION was founded in the year of 1950 and it is headquartered in Tokyo, Japan. NIPPON STEEL & SUMITOMO METAL CORPORATION is engaged in manufacturing, developing product and also provides services. The company majorly operates its business through two different segments Steelmaking and steel fabrication, Engineering and construction, Chemicals, New materials and System solutions. It operates its business in North, Central and South America, Europe, Middle East and Asia and subsidiaries are Nisshin Steel Co Ltd (Japan), Nippon Steel & Sumikin Texeng Company Limited (Japan), NS Solutions Corporation (Japan), Nippon Steel & Sumikin Engineering Co., Ltd. (Japan), Nippon Steel & Sumikin Stainless Steel Corporation (Japan).

  • In April 2018, Nippon Steel and Sumitomo Metal Corporation (NSSMC) prepared plan for continuous hot-dip galvanizing line at Kimitsu Works that may strengthen the supply system for ultra-high-tensile steel sheets in the market. This will help the company to expand in the market.
  • In June 2017, Nippon Steel & Sumitomo Metal Corporation (NSSMC) and Standard Steel LLC (SS) achieved “Excellent Supplier 2016” award in the U.S. on June from TTX Company. This helped the company to strengthen their footprint in North American market as company provides high-quality and high-performance.

Market Developments:

  • In November 2018, United States Steel Corporation announced the ratification of new successor four-year collective bargaining agreements by the United Steelworkers (USW). These agreements will cover approximately 14,000 USW- employees of mining facility and of tubular operation in Fairfield, Ala., Lorain, Ohio, and Lone Star, Texas...
  • In November 2018, Tata Steel expanded their steel production in MTPA Phase-II expansion of its Kalinganagar plant. The capacity of the plant is around 8 million tons per annum (MTPA). This addition in the capacity of the plant will enhance the steel production of the company.
  • In November 2018, SSAB AB announced the launch of Strenx 1100 Plus strip steel which is a hot-rolled, high-strength steel that possesses unique weld properties and delivers outstanding welding and bending performance. This product launch will help in the manufacturing and production of automotive components in China.
  • In October 2018, SSAB AB announced the investment around SEK 1 Billion to enhance the capacity of the production of Q&T steel. With this investment company will became the highest supplier of the Q&T steel.
  • In August 2018, AK Steel Corporation announced the launch of NEXMET, an innovative range of high strength steel, which is applicable for lightweight components in the automotive industry. These products are designed for the manufacturing of automotive original equipment.