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Prices of cold rolled coil imports into Turkey fell this week as new offers from Eastern Europe followed the decline in hot rolled coil prices.
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Hot rolled coil import prices into Turkey have been slashed in the last week, as dollar-based exporters keep step with lower offers from domestic mills.
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Nucor Corp. has acquired Skyline Steel LLC and Astralloy Steel Products Inc. from ArcelorMittal SA for $605 million in a deal analysts are calling a good fit for the steelmaker.
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PTC Alliance Corp. has resumed operations at its Alliance, Ohio, facility after a fire broke out at a nearby complex of buildings Wednesday.
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A transition appears to be near at California Steel Industries Inc. (CSI), one of two major West Coast flat-rolled steel producers, with the company’s owners said to be considering a change at the top, according to industry sources.
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In a second asset-related move in as many days, a top RG Steel LLC executive said Thursday that the privately held steelmaker was evaluating a variety of options regarding the future of the facilities it purchased for a reported $1.2 billion early last year from Severstal North America Inc.
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At least half a dozen major scrap suppliers have confirmed they have cut off shipments—or are demanding payment in advance—at RG Steel LLC’s mills in Warren, Ohio, and Sparrows Point, Md.
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The iron ore swaps market saw volumes rise again on Friday May 18, reacting to further physical price falls.
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European hot dipped galvanized (HDG) prices were unchanged at the end of the week from levels seen seven days ago, on poor market sentiment and low demand for flat steel products.
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ThyssenKrupp AG might have to take a big haircut on its Steel Americas operations if it hopes to find a buyer in the near term, analysts and industry observers said.
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London Metal Exchange official three-month steel billet held steady at $440/450 on Friday May 18, level with Thursday’s prices.
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A growing number of Brazilian flat steel distributors and service centres have been receiving indications from local steelmakers about possible price rises of about 5% in the domestic market within the next few months.
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The forecast for the oil country tubular goods (OCTG) market is strong for the rest of the year, boosted by an optimistic outlook on the abundant supply of natural gas in the long run, according to two of TMK Ipsco’s top executives.
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British-based steel stockholder Barrett Steel has acquired two stockholding subsidiaries of the Murray Group, saving more than 40 jobs across the two sites, a spokesperson for the group said on Friday May 18.
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Steel distributor firm Bowim has recorded a net loss of 3.68 million zloty ($1.07 million) for the first quarter of 2012, according to a statement the Polish company has lodged with the Warsaw Stock Exchange.
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The euro crisis and falling nickel prices will put flat-rolled stainless steel prices in Europe’s domestic market under heavy pressure, market sources told Metal Bulletin on Friday May 18.
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Turkish wire rod export prices have been cut by $10 per tonne in an attempt to entice consumers back to the market.
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Finnish steelmaking group Rautaruukki has signed a contract with Sweden-based rolling stock manufacturer Kiruna Wagon to supply steel plates for wagons to be used at the company’s iron ore mine in Pajala, Sweden, Ruukki said on Friday May 18.
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Junior iron ore and manganese miner Ferrex expects further testing to push capital expenditure for its Malelane iron ore project to less than $297.6 million, md Dave Reeves told Metal Bulletin on Thursday May 17.
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A new South African coal terminal proposed by the country’s main freight logistics company, Transnet, could cut distribution costs and help ease bottlenecks at existing terminals, producers told Metal Bulletin this week.
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Australian iron ore miner NSL Consolidated has made its first iron ore sales to the Indian domestic market, the miner said in a statement on Friday May 18.
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Indonesia’s Krakatau Steel has secured loans totalling $450 million to help finance the construction of a $600 million, 1.2 million-tpy blast furnace, a company official said.
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Many Chinese steel mills have delayed taking iron ore shipments under contracts from the big three iron ore miners – Vale, BHP Billiton and Rio Tinto – because spot prices have fallen significantly in recent weeks.
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ArcelorMittal will sell its steel subsidiary Skyline Steel and Astralloy to US-based Nucor Corp, the company said in a statement on Friday, May 18.