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Spot iron ore prices, which have doubled over the past 12 months, have become an iron ore market indicator, according to Jose Carlos Martins, ferrous director of Brazil’s Vale.
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Four steel mills have slated 5-percent increases on specialty tubing prices for the New Year, citing rising energy and raw material costs.
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Ipsco Inc., Lisle, Ill., plans to boost prices on electric-resistance welded (ERW) standard pipe by a minimum of $50 a ton ($2.50 per hundredweight) effective with Jan. 2 shipments. Current orders on the books will be price protected, the company said in a letter to customers, but pending contracts will be re-quoted.
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Enduro Industries Inc. is seeking price increases of $40 a ton ($2 per hundredweight) on chrome-plated steel shafting for shipments on or after Jan. 1.
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Timken Co., Canton, Ohio, has established a joint venture in China to manufacture ultra-large-bore bearings for main rotor shafts of multi-megawatt wind turbines for the Chinese wind energy market.
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Evraz Group SA, Luxembourg, and Titan Acquisition Sub Inc., a wholly owned subsidiary of Evraz, have agreed to purchase Claymont Steel Holdings Inc., Claymont, Del., for $564.8 million.
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Enduro Industries Inc. is seeking price increases of $40 a ton ($2 per hundredweight) on chrome-plated steel shafting for shipments on or after Jan. 1.
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Chinese steel plate export offers have remained unchanged from two weeks ago, but mills could raise offers, market participants said.
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A host of mills plan to ring in the new year with increases on specialty tubing prices, according to recent customer letters seen by AMM.
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Ipsco aims to boost prices on electric resistance welded (ERW) standard pipe by a minimum of $50 per ton ($2.50 per cwt) effective with shipments Jan. 2.
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Spot iron ore prices, which have doubled over the last 12 months, have become an iron ore market indicator, Jose Carlos Martins, ferrous director of Brazil’s Vale, told journalists Friday.
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Auto parts maker Dana Corp. has announced a new slate of board members that includes auto industry heavyweights, along with luminaries such as former Democratic Presidential candidate Richard Gephardt.
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Mark Hogan, president of major auto parts supplier Magna International Inc., will be stepping down from the company Dec. 31.
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Wire rod prices look poised to rise further in the first quarter, market sources said, noting that rod hikes announced during the past few months appear to be holding up thanks, in part, to dramatically lower imports.
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The outlook for the global steel market in 2008 is less buoyant due to weaker prospects for global economic growth, industry and governmental officials told the Organization for Economic Cooperation and Development (OECD) Steel Committee meeting in Paris.
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The U.S. Commerce Department plans to drop its dumping margin on imports of hot-rolled steel from Thai producer G Steel Public Co. Ltd. to zero, the Department of Commerce said Friday.
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Heidtman Steel Products Inc. plans to spend $13.5 million to build a new facility to house a light-gauge multi-blanking line.
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The American Iron and Steel Institute (AISI) has “grave concerns” with the cap-and-trade bill passed by the Senate Environment and Public Works Committee, the trade group said Friday.
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Mark Hogan, president of major auto parts supplier Magna International Inc., will be stepping down from the company Dec. 31.
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Things might finally be looking up for WCI Steel Inc., Warren, Ohio, which has a new leader in place, resumed blast furnace production and installed its new walking beam furnace ahead of schedule.
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Steel imports into North America continue to travel slowly as soaring ocean freight rates and the low value of the U.S. dollar make importing uneconomical.
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Stainless steel flat-rolled surcharges are on the rise for January, their third consecutive gain after tallying three monthly declines. However, the signs are pointing lower as the pace of the rise has slowed considerably amid volatility in input costs, particularly nickel.
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SeverCorr LLC has begun operations at its advanced coating line, marking an end to the mill’s year-long phased start-up.
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Xu Lejiang, chairman of Shanghai-based Baosteel Group Corp., has denied that the company might bid for Rio Tinto, the Shanghai Securities News reported Thursday.