Steel RSS

  • Worthington set to take $100M writedown Dec 03, 2008

    Steel processor and distributor Worthington Industries Inc. will write down the value of its inventory by about $100 million in its fiscal second quarter ended Nov. 30

  • China steel outlook less than rosy for ’09 Dec 03, 2008

    Escalating production cuts in China won’t quite reverse the trend of year-on-year output gains, but the outlook for 2009 is gloomy, delegates were told at the 6th Steel Success Strategies Europe Conference in Paris.

  • Chrysler asking for $7B to stay afloat Dec 03, 2008

    Chrysler LLC said that it needs a $7-billion government loan in order to cover its expenses in the first quarter, according to a plan filed with the U.S. Senate Committee on Banking, Housing and Urban Affairs.

  • Ahmsa idles furnace, cuts contractors Dec 03, 2008

    The global recession has forced Mexican steelmaker Altos Hornos de Mexico SA de CV (Ahmsa) to adopt an austerity plan that calls for laying off some 12,000 contract workers over the next year.

  • Ahmsa idles furnace, cuts contractors Dec 03, 2008

    The global recession has forced Mexican steelmaker Altos Hornos de Mexico SA de CV (Ahmsa) to adopt an austerity plan that calls for laying off some 12,000 contract workers over the next year.

  • Richardson named to head Commerce Dec 03, 2008

    President-elect Barack Obama’s announcement that New Mexico Gov. Bill Richardson will be his pick for Commerce Secretary was welcomed by some metal industry trade groups Wednesday.

  • Delays in met coal shipments sought Alpha Dec 03, 2008

    Steelmakers are trying to delay scheduled metallurgical coal shipments, according to Alpha Natural Resources Inc., and in one instance tried to renegotiate a contract for next year.

  • Monarch adds slitter in Alabama Dec 03, 2008

    Cleveland-based steel distributor Monarch Steel Co. Inc. has increased slitting capacity at its Decatur, Ala., service center by adding a light-gauge slitting line capable of cutting cold-rolled and galvanized sheet ranging in thickness from 0.020- to 0.135-inches and from 1 to 60 inches wide.

  • Delays in met coal shipments sought Alpha Dec 03, 2008

    Steelmakers are trying to delay scheduled metallurgical coal shipments, according to Alpha Natural Resources Inc., and in one instance tried to renegotiate a contract for next year.

  • Reliance Steel plans to hold off on further buys Dec 03, 2008

    Los Angeles-based Reliance Steel & Aluminum Co., the largest U.S. service center chain by revenue, has suspended acquisitions—the primary method by which the company has expanded—in the near term.

  • Monarch adds slitter in Alabama Dec 03, 2008

    Cleveland-based steel distributor Monarch Steel Co. Inc. has increased slitting capacity at its Decatur, Ala., service center by adding a light-gauge slitting line capable of cutting cold-rolled and galvanized sheet ranging in thickness from 0.020- to 0.135-inches and from 1 to 60 inches wide.

  • Lakeside Steel set to lay off 11% of unionized work force Dec 03, 2008

    Tubular steel products maker Lakeside Steel Corp. is temporarily laying off nearly 11 percent of its unionized work force in Welland, Ontario.

  • Lakeside Steel set to lay off 11% of unionized work force Dec 03, 2008

    Tubular steel products maker Lakeside Steel Corp. is temporarily laying off nearly 11 percent of its unionized work force in Welland, Ontario.

  • USW taps Lunny for Canada post Dec 03, 2008

    The United Steelworkers union’s Western Canada district has appointed Scott Lunny as the new assistant to director Stephen Hunt.

  • Russia probe targets China tubes Dec 03, 2008

    The Russian government plans to initiate an anti-dumping investigation into imports of Chinese bearing steel tubes, according to China’s Ministry of Commerce.

  • Nucor shrugs off reports of Brazilian delay Dec 03, 2008

    Nucor Corp., Charlotte, N.C., hasn’t put off announcing the construction of a $3-billion pig iron plant in Brazil despite press reports to the contrary, John Ferriola, chief operating officer of steelmaking operations, told AMM.

  • Ameristeel upbeat on steel opportunities in long term Dec 03, 2008

    Undeterred by depressed market conditions this quarter, Terry Sutter, Gerdau Ameristeel Corp.’s chief operating officer, remains excited about opportunities for the company due to its extremely long-term view of steel cycles.

  • Prices poised for year-end rally exec Dec 03, 2008

    International merchant market steel prices could stage a rally before the end of the year, according to Ralph Oppenheimer, chairman of London-based Stemcor Holdings Ltd.

  • Reliance Steel steps back from further acquisitions Dec 03, 2008

    Los Angeles-based Reliance Steel & Aluminum Co., the largest U.S. service center chain by revenue, has suspended acquisitions—the primary method by which the company has expanded—in the near term.

  • Ameristeel upbeat on steel opportunities in long term Dec 03, 2008

    Undeterred by depressed market conditions this quarter, Terry Sutter, Gerdau Ameristeel Corp.’s chief operating officer, remains excited about opportunities for the company due to its extremely long-term view of steel cycles.

  • Vale lays off 1,300 workers as steel demand slows Dec 03, 2008

    Brazilian miner Vale has laid off 1,300 workers and required that another 5,500 workers take paid leave starting this week, a spokeswoman said, confirming press reports.

  • Republic idles blast furnace Dec 03, 2008

    About 250 steelworkers at the hot end of Republic Engineered Products’ steelmaking facilities in Lorain, Ohio, are out of work by Sunday, as the company shut down its lone blast furnace Tuesday night.

  • US job reductions increase to nearly 7-year high in Nov. Dec 03, 2008

    November job cuts soared to 181,671, the largest monthly layoff toll since January 2002, bringing the total for the year to more than 1 million for the first time since 2005, according to Chicago-based global outplacement consultancy Challenger, Gray & Christmas.

  • Nucor shrugs off reports that Brazilian plant plan delayed Dec 03, 2008

    Nucor Corp., Charlotte, N.C., asserts it hasn’t put off announcing the construction of a $3-billion pig iron plant in Brazil despite press reports to the contrary, John Ferriola, chief operating officer of steelmaking operations, told AMM.

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