Paris – Trade conflict, weak business investment and persistent political uncertainty are weighing on the world economy and raising the risk of long-term stagnation, according to the OECD’s latest Economic Outlook.
Helsinki – Moody’s Investors Service has decided to downgrade Outokumpu’s corporate family rating to B2 from B1 and the probability of default rating to B2-PD from B1-PD.
Düsseldorf – For North American Stainless (NAS) in Ghent, Kentucky, SMS group has successfully commissioned a torque retainer for the 160-ton AOD converter no. 1. The customer issued the final acceptance certificate shortly thereafter.
Göppingen/Pune – Schuler’s affiliate Yadon is a success story also in India: In the last two years, more than 80 presses from the Chinese manufacturer have been sold in the country. About half of them with a press force ranging from 60 to 1,000 metric tons have already been installed at various metal forming companies.
Düsseldorf – South Korean Daehan Steel Co., Ltd. has smoothly re-started production with new SMS group quenching and high-speed lines following the successful modernization of the Sinpyeong bar mill. The Final Acceptance Certificate (FAC) was signed two months ahead of the original schedule.
London - Initiative aims to be a platform to recognize the momentum of hydrogen as a complement to electrification as well as a long-term storage option for renewables.
Sheffield, UK – Procurement activity, resale values and sentiment remain weak, in the European strip mill products market, in November. Slow economic growth, global trade conflicts and political difficulties have added to the air of pessimism.
