Steel RSS

  • Taiwanese steel producers ride out earthquake Dec 29, 2006

    Taiwanese steelmakers China Steel Corp. (CSC) and Yieh United Steel Corp. (Yusco) escaped unscathed from a major earthquake that rocked the southern part of Taiwan last Tuesday evening, according to reports. Representatives from CSC, Yusco, Yieh Hsing Enterprise Co. Ltd., Yieh Phui Enterprise Co. Ltd. and Tang Eng Iron Works Co. Ltd. said their plants in Kaohsiung and Pingtung were unaffected by the quake and production remained normal. Both Kaohsiung and Pingtung are in southern Taiwan, with Pingtung reported to be one of the worst-hit areas in the island, where damages amounted to millions of dollars, while Kaohsiung was said to have felt tremors from the 7.1-magnitude earthquake.

  • AISI tries to win over policymakers with ads Dec 29, 2006

    The board of the American Iron and Steel Institute has approved a $2-million campaign aimed at convincing policymakers and their staff that the steel industry is high-tech, environmentally friendly and globally competitive.

  • Steel exporters look for other shoe to drop Dec 29, 2006

    Concerns by Chinese steel exporters over possible export tax revisions haven’t eased in spite of the exemption of steel exports from the most recent revision.

  • Ipsco lowers earnings outlook for fourth qtr. Dec 29, 2006

    Ipsco Inc., Lisle, Ill., became the latest North American steelmaker to lower its earnings guidance for the fourth quarter, blaming a lengthy inventory de-stocking for lower expectations.

  • Algoma makes pension prepayments in Dec. Dec 29, 2006

    Algoma Steel Inc., Sault Ste. Marie, Ontario, said it made contributions totaling Canadian $85 million ($73.2 million) to its pension plans during December in a move to reduce 2006 income taxes, improve the funded position of the plans and to generate higher returns on the pension plans’ assets as compared with cash balances.

  • Worker killed in Mittal plant accident identified Dec 29, 2006

    A worker killed Dec. 27 at Mittal Steel USA Inc.’s plant in Coatesville, Pa., died of massive head injuries after he was reportedly struck by a train at the plant, where part of his job was hooking and unhooking rail cars, according to the Chester County, Pa., Coroner’s Office.

  • U.S. Steel completes tender offer, consent solicitation for 10¾% notes Dec 29, 2006

    U.S. Steel Corp., Pittsburgh, said it completed its cash tender offer and consent solicitation for its 10¾-percent senior notes due Aug. 1, 2008.

  • Voestalpine kicks off talks on sale of stake in steel trading business Dec 29, 2006

    Austrian steelmaker Voestalpine AG, which holds a 37-percent stake in international steel trading business Voest-Alpine Intertrading AG (Vait), has started meetings to decide the conditions of its sale.

  • Reliance’s Encore buy seen filling western Canada gap Dec 29, 2006

    After more than 35 acquisitions in the past dozen years, it might be presumed that there’s no regional market that isn’t covered thoroughly by Reliance Steel & Aluminum Co. But Reliance’s pending acquisition of Encore Group’s service center companies will give it a strong presence in western Canada for the first time.

  • OCTG tags slide in Dec., rally expected in 1st qtr. Dec 29, 2006

    Spot prices for oil country tubular goods (OCTG) declined again in December, hitting a one-year low, but market sources said they expect the slide to stop and prices to rally in the first quarter.

  • AK, police search for suspects in vandalism Dec 29, 2006

    AK Steel Corp., Middletown, Ohio, and the city’s police department are trying to nail the suspect who attempted to vandalize several steel plant entrances.

  • CVRD, Ilva agree on iron ore price hike for ’07 Dec 29, 2006

    The price of iron ore pellets could go up in 2007 for North American users now that one of the world’s major producers has settled talks with an Italian steelmaker.

  • Reliance’s Encore buy to fill Canada gap Dec 29, 2006

    After more than 35 acquisitions in the past dozen years, it might be presumed that there’s no regional market that isn’t covered thoroughly by Reliance Steel & Aluminum Co. But Reliance’s pending acquisition of Encore Group’s metals service center companies is due to give it a strong presence in western Canada for the first time.

  • OCTG tags slip in Dec., but 2007 rally expected Dec 29, 2006

    Spot prices for oil country tubular goods (OCTG) declined again in December, hitting a new one-year low, according to market sources who say they expect the slide to stop and prices to rally in the first quarter.

  • Berlin Metals gears for start of new coil slitter line Dec 29, 2006

    A new 60-inch-wide coil slitter is on schedule to begin operating in mid-January at Berlin Metals LLC, Hammond, Ind., and will have higher speed and faster setup than four other slitters already in place, Roy Berlin, the company’s president, said.

  • Ipsco cuts earnings outlook as demand weakens [UPDATE] Dec 29, 2006

    Ipsco Inc., Lisle, Ill., became the latest North American steelmaker to lower its earnings guidance for the fourth quarter, joining several who have blamed a lengthy inventory de-stocking for lower expectations.

  • U.S. Steel completes tender offer [UPDATE] Dec 29, 2006

    U.S. Steel Corp., Pittsburgh, said it completed its cash tender offer and consent solicitation for its 10 3/4 percent senior notes due Aug. 1, 2008.

  • Ipsco cuts earnings outlook as demand weakens Dec 29, 2006

    Ipsco Inc., Lisle, Ill., said it estimates fourth-quarter earnings will be in the range of $3 to $3.10 per diluted share excluding any impact of its acquisition of NS Group Inc. and other factors. The company originally estimated earnings in the range of $3.30 to $3.50 per share.

  • U.S. Steel completes tender offer Dec 29, 2006

    U.S. Steel Corp., Pittsburgh, said it completed its cash tender offer and consent solicitation for its 10 3/4 percent senior notes due Aug. 1, 2008.

  • Ongoing US probe prompts Evraz to extend offer to buy Oregon Steel Dec 28, 2006

    Evraz Group SA’s $2.3-billion bid to buy Oregon Steel Mills Inc., Portland, Ore., was extended from Dec. 28 until Jan. 9 in order to allow U.S. authorities to complete a review of the proposed deal.

  • Harsco, OSHA probe death at Mittal mill Dec 28, 2006

    An unidentified employee of the MultiServ division of Harsco Corp. died from injuries sustained in an accident at the Coatesville, Pa., plant of Mittal Steel USA Inc.

  • W. Coast carbon plate tags holding steady for January Dec 28, 2006

    A strong backlog of projects appears to be holding up the carbon steel plate market on the West Coast following a temporary falloff in the price of some trade products earlier this month.

  • Two men eyed in alloy heist from AK plant Dec 28, 2006

    Two workers employed by an AK Steel Corp. contractor are suspected of stealing 1,000 pounds of cobalt-nickel alloy ingots valued at about $5,000 from the steelmaker’s Middletown, Ohio, plant.

  • Reliance buying Canada’s Encore Group Dec 28, 2006

    Almost three years after spinning off from Corus Group Plc, Canadian metals distributor Encore Group plans to give up its independence and be acquired by Reliance Steel & Aluminum Co.

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