Iron ore prices extend losses on weak China steel demand Abha Power & Steel bags ₹4.92 crore railway order Global tool steel market outlook remains strong for 2026–2036 Kobe Steel explores scrap melting furnace for greener steelmaking
Fives has secured a major order from China’s Yongfeng Group to design and supply three annealing furnaces for a new steel production facility under construction in Linyi, Shandong Province. The furnaces will be installed across two continuous galvanizing lines and one continuous annealing line, supporting the plant’s plan to produce high-grade flat steel, including automotive sheets and advanced high-strength steels. Fives said the new vertical annealing furnaces will feature its AdvanTek combustion system for better energy efficiency, fuel flexibility and lower emissions, along with the FlashCooling rapid cooling system designed for operation with high hydrogen gas. The order marks an important technology partnership and highlights rising investment in premium steel processing capacity in China.
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