Tata Steel just made a big move. The company “opened the UK’s largest cutting centre for steel plates at its West Midlands base on Tuesday,” reports The Economic Times.
“The steel giant’s new 3.1-million pound Profiling Centre at Steelpark in Wednesfield will increase its plate processing capacity in the region by up to 50 per cent.”
“The facility offers steel plates cut and finished to exact size, shape and quality specifications, providing a range of benefits to customers in the lifting, excavating and construction sectors.”
In metal price news for steel…
The 3-month price of steel billet saw a 7.5 percent increase on Monday, January 13, reaching $360.00 per metric ton on the LME and making it the biggest mover for the day. Monday closed the steel billet cash price at $359.00 per metric tonon the LME, after moving up 5.6 percent.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India was range bound. The price of Chinese HRC remained essentially flat. Chinese coking coal saw little change in its price yesterday.
The US HRC futures contract 3-month price fell 0.2 percent to $634.00 per short ton. The spot price of the US HRC futures contract saw little price change yesterday at $675.00 per short ton.