Steel

  • SDI iron nugget plant on target for mid-’09 start Dec 10, 2008

    Construction of Steel Dynamics Inc.’s (SDI’s) iron nugget plant in Minnesota is on schedule, with a mid-2009 start-up slated.

  • Mixed paths for electrical steel mart Dec 10, 2008

    The North American electrical steel market is following two distinct paths, with surcharges declining but base prices still going strong.

  • Severstal closes deal for majority stake in AIOG Dec 10, 2008

    OAO Severstal has closed a deal to buy a majority stake in African Iron Ore Group (AIOG), the Cherepovets, Russia-based company said.

  • Timken supplying bearings to SMS Demag Dec 10, 2008

    Timken Co. is supplying anti-friction bearings to SMS Demag AG for installation in a plate mill and slab caster under construction for one of Russia’s largest steelmakers.

  • USW ratifies deal at Canadian can maker Dec 10, 2008

    Union members have ratified a new three-year collective bargaining deal with Ball Packaging Products Canada Inc.’s metal foods and household products division.

  • Siemens VAI wins Russian melt shop order Dec 10, 2008

    Siemens VAI Metals Technologies has won an order valued in the “two-digit million euro” range from Kaluzhsky Scientific Industrial Electrometallurgical Plant for the supply and installation of a new steelmaking melt shop in Vorsino, Kaluzhskaya Oblast, Russia.

  • Hot band prices slide; China still bucks trend Dec 10, 2008

    Hot-rolled band continues to lose ground, with only China defying the global trend of falling prices.

  • USS promotes 2 execs to succeed veterans Dec 10, 2008

    U.S. Steel Corp., Pittsburgh, has named two executives to fill openings created by the retirement of a pair of company veterans.

  • Baffinland still in strategic partner talks Dec 10, 2008

    Canadian junior iron ore miner Baffinland Iron Mines Corp. is still talking with potential strategic partners and “remains optimistic” that it will reach a successful agreement.

  • China steel exports fall as deflation risk mounts Dec 10, 2008

    More evidence emerged Wednesday of an abrupt slowdown in the Chinese economy, as steel exports fell sharply and a range of other economic indicators pointed to a rising risk of a hard landing for what has been the world’s fastest-growing major economy.

  • Electrical steel surcharges tumble but base prices hold strong Dec 10, 2008

    The North American electrical steel market is following two distinct paths, with surcharges declining but base prices still going strong.

  • USS backs off on $200/T seamless increase Dec 09, 2008

    U.S. Steel Corp. has rescinded a $200-per-ton ($10-per-hundredweight) October increase on seamless pipe, according to a market source who spoke to AMM Tuesday.

  • Nucor’s profit in 4th qtr. to just beat break-even Dec 09, 2008

    Nucor Corp. expects to turn a profit in the fourth quarter, but likely will be “only marginally above the break-even level,” the Charlotte, N.C.-based company said in issuing fourth-quarter guidance Tuesday.

  • ArcelorMittal shutting steel finishing facilities in NY, Ill. Dec 09, 2008

    ArcelorMittal USA Inc., Chicago, will close steel finishing operations in Lackawanna, N.Y., and Hennepin, Ill., resulting in the layoff of more than 500 workers. It cited continuing problems associated with the failing global economy.

  • Ferrous scrap prices stretch gains, rising over $130 a ton Dec 09, 2008

    Ferrous scrap prices are extending their gains, rising by more than $130 a long ton in some of the major steelmaking markets since the start of the month, but few see the steep rise as any sign of a near-term rebound in either prices or demand for scrap.

  • ArcelorMittal to shut NY, Ill. steel finishing plants Dec 09, 2008

    ArcelorMittal USA Inc., Chicago, will close steel finishing operations in Lackawanna, N.Y., and Hennepin, Ill., laying off almost 600 workers in the process. It cited continuing problems associated with the failing global economy.

  • US, Canada drilling slows down Dec 09, 2008

    The number of drill rigs running in the United States fell by 14 last week, with the largest decrease in Texas (down 38), while Canadian drilling activity fell by two rigs.

  • US raw steel output drops another 1.3% Dec 09, 2008

    U.S. raw steel production fell to the lowest level in at least 24 years last week, shedding another 1.3 percent to 1,182,000 tons vs. 1,197,000 tons the previous week, as mills operated at an average capability utilization rate of 49.5 percent.

  • Flat-rolled prices jump $20 per ton Dec 09, 2008

    Increasing prices for steel scrap are beginning to manifest themselves in slight price hikes for flat-rolled products, according to market sources.

  • Commerce upholds Taiwan duty Dec 09, 2008

    The U.S. Commerce Department, in a final determination on stainless steel strip and coils from Taiwan, said it will retain the preliminary margin of 2.71 percent for Chia Far Industrial Factory Co. Ltd. Commerce had determined that the company sold product at below normal value during the review period from July 1, 2006, through June 30, 2007.

  • Tube plant expansion lands V&M $2.6-million Ohio tax break Dec 09, 2008

    Vallourec & Mannesmann Holdings Inc. (V&M) has received a $2.6-million tax credit for a proposed $639-million expansion of its tubemaking plant in Youngstown and Girard, Ohio.

  • U.S. Steel announces management changes Dec 09, 2008

    U.S. Steel Corp., Pittsburgh, has promoted two executives to fill posts left vacant by retirements.

  • U.S. Steel announces management changes Dec 09, 2008

    U.S. Steel Corp., Pittsburgh, has promoted two executives to fill posts left vacant by retirements.

  • Commerce upholds Taiwan stainless strip, coil duty Dec 09, 2008

    The U.S. Commerce Department, in a final determination on stainless steel strip and coils from Taiwan, said it will retain the preliminary margin of 2.71 percent for Chia Far Industrial Factory Co. Ltd. Commerce had determined that the company sold product at below normal value the review during the period from July 1, 2006, through June 30, 2007.

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