Steel RSS

  • Two long product producers planning additional layoffs (UPDATE) Dec 05, 2008

    Two American long product steelmakers—Gerdau Ameristeel Corp., Tampa, Fla., and Steel of West Virginia Inc., Huntington, W.Va.—together are laying off three dozen more employees in the coming weeks.

  • Two long product producers planning additional layoffs Dec 05, 2008

    Two American long product steelmakers—Gerdau Ameristeel Corp., Tampa, Fla., and Steel of West Virginia Inc., Huntington, W.Va.—together are laying off three dozen more employees in the coming weeks.

  • GM cuts nearly 2,000 jobs at three plants Dec 05, 2008

    General Motors Corp. plans to slash nearly 2,000 more jobs at three plants in the United States and Canada as it struggles to cope with an auto market that “collapsed,” according to company spokesman.

  • Quanex stays in the black, but income down sharply Dec 05, 2008

    Quanex Building Products Corp.’s net income plummeted 84 percent to $21.6 million in fiscal 2008 from $134.6 million the previous year on sales that fell 9.9 percent to $868.9 million from nearly $964 million.

  • Universal takes spot on Forbes list Dec 05, 2008

    Forbes magazine has ranked Universal Stainless & Alloy Products Inc., Bridgeville, Pa., 82nd on its annual list of the 200 Best Small Companies in America, up from 92nd last year.

  • Over half a million jobs lost in Nov. report Dec 05, 2008

    Nonfarm payroll employment fell sharply by 533,000 jobs in November, and the U.S. unemployment rate rose from 6.5 to 6.7 percent, the U.S. Bureau of Labor Statistics reported Friday.

  • Steel import licenses fall 23.3% in Nov. Dec 04, 2008

    U.S. steel import licenses declined 23.3 percent in November from the previous month, with sources saying that the decline likely could continue.

  • Aluminum falls to 4½-year low in bleak mart Dec 04, 2008

    Aluminum prices tumbled another 3.5 percent Thursday to a four-and-a-half-year low as the market expressed concern over rising inventories and an ever-worsening demand outlook in the automotive and construction sectors.

  • Steel futures a new reality, Severstal executive says Dec 04, 2008

    Steel futures are here to stay, according to a top executive at Russian steelmaker OAO Severstal.

  • China stockpiling seen turning to steel Dec 04, 2008

    The Chinese government might start buying steel from the domestic market—as it reportedly is doing for base metals—to build up its strategic reserves and help loss-making mills, market sources said.

  • China’s focus on domestic mart, not exports Dec 04, 2008

    China’s government is likely to focus on stimulating domestic demand next year rather than trying to buoy export-oriented industries, according to World Bank economist Louis Kuijs.

  • Busse sees brighter ’09 beyond dismal 4th qtr. Dec 04, 2008

    Steel Dynamics Inc. (SDI) may not be profitable this quarter, but 2009 will be a better year financially than 2008, according to its top executive.

  • Steel to lag economy, recover in '09 Dec 04, 2008

    Demand for steel products will lag behind the general recovery of the global economy due to the steel industry’s tie-ins with the construction sector and its reliance on capital spending, according to World Steel Dynamics Inc. (WSD), Englewood Cliffs, N.J.

  • Global price watch Dec 04, 2008

    The move comes despite a rise in ferrous scrap prices to 290 euros ($369) per tonne c.f.r. from 130 euros ($165) previously. Weak end-user demand from the construction sector is keeping distributors and fabricators out of the market.

  • Mills may retain price power in spite of global recession Dec 04, 2008

    Steel mills might not relinquish their pricing power in spite of the global recession and buyers staying out of the market in the expectation of further price reductions, according to Nasser Alaghband, chief executive officer of Balli Group.

  • Auto ills halt I/N Kote galvanize expansion Dec 04, 2008

    Nippon Steel Corp. and ArcelorMittal SA are halting construction of an expansion project at their I/N Kote facility in northern Indiana as a result of the auto industry downturn.

  • Auto ills halt I/N Kote galvanize expansion Dec 04, 2008

    Nippon Steel Corp. and ArcelorMittal SA are halting construction of an expansion project at their I/N Kote facility in northern Indiana as a result of the auto industry downturn.

  • Ill. deploys team to aid laid-off USS workers Dec 04, 2008

    Providing access to worker dislocation services, Illinois Gov. Rod R. Blagojevich has deployed the state’s Rapid Response Team to aid workers impacted by Pittsburgh-based U.S. Steel Corp.’s announcement to temporarily close its facility in Granite City.

  • Wabush Mines laying off third of work force Dec 04, 2008

    Wabush Mines plans to lay off more than a third of its work force beginning in February as the company cuts production to about half its current capacity.

  • AK trimming salaried workers’ pay 5% Dec 04, 2008

    AK Steel Corp., West Chester, Ohio, is cutting the pay of its salaried employees by 5 percent beginning Jan. 1 in response to the recent economic downturn.

  • Illinois deploys team to help laid-off USS workers Dec 04, 2008

    Providing access to worker dislocation services, Illinois Gov. Rod R. Blagojevich has deployed the state’s Rapid Response Team to aid workers impacted by Pittsburgh-based U.S. Steel Corp.’s announcement to temporarily close its facility in Granite City.

  • Macsteel Service Centers opens new Portland plant Dec 04, 2008

    Macsteel Service Centers USA, Newport Beach, Calif., has opened a new 100,000-square-foot service center in Portland, Ore., to serve customers in the Pacific Northwest, including Oregon, Washington and Idaho.

  • AK Steel trimming salaried workers’ pay by 5% Dec 04, 2008

    AK Steel Corp., West Chester, Ohio, is cutting the pay of its salaried employees by 5 percent beginning Jan. 1 in response to the recent economic downturn.

  • Wabush lays off a third of work force CBC Dec 03, 2008

    Wabush Mines plans to lay off more than a third of its work force beginning in February next year as the mine cuts production to about half its current capacity, according to Canada’s CBC News.

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