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Steel distributors are planning for lower volumes as two of their major customer bases—auto and construction—remain under duress with the United States in the throes of a recession. And things are going to get worse before they get better, according to economists at the University of Michigan.
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How do you order steel when you're struggling to cut inventories in a market that's not giving many clues for next year? West Coast buyers, many of whom have been out of the market since the first half of this year, are grappling with this issue as they try to map requirements for the first quarter of 2009.
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How do you order steel when you’re still struggling to reduce inventories in a market that’s not giving many clues for next year? Steel buyers on the West Coast, many of whom have been out of the market since the first half of this year, are currently grappling with this issue as they try to map out their requirements for the first quarter of 2009.
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Stainless steel prices continue to decline, not only because of shrinking surcharges but also because of lower base tags.
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Iron Ore Co. of Canada (IOC) announced plans late last week to take “prudent action” in response to the decline in demand for steel and the ongoing global financial crisis.
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At the Asian Pacific Economic Cooperation (APEC) forum, leaders pledged to uphold G-20 agreements to protect free trade. Yet some industry experts wonder if anything was accomplished.
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The bloom appears to be off oil country tubular goods (OCTG), with prices on a wide variety of products falling approximately 5 to 10 percent, according to a recent survey of Houston-area distributors.
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Western Canadian Coal Corp. has decided to stop mining operations and curtail further investments for the time being at its Willow Creek metallurgical coal mine in British Columbia, the Vancouver-based company said in a statement.
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CME Group Inc. recorded a trade of one unit, or 20 short tons, at $595 per ton on its hot-rolled coil (HRC) steel futures contract Wednesday.
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Due to business conditions that are “generally slow,” Keystone Steel & Wire Co. is placing the majority of its employees on a week-to-week layoff schedule.
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Due to business conditions that are “generally slow,” Keystone Steel & Wire Co. is placing the majority of its employees on a week-to-week layoff schedule.
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It probably won’t be a happy New Year for U.S. Steel Corp., according to one analyst.
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Worldwide hot band prices continued their rapid slide into December with the notable exception of China, where prices showed some slight recovery in the past two weeks, according to the latest report from SteelBenchmarker.
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V&M Star is considering expanding its mini-mill in Youngstown, Ohio, to increase the amount and type of tubular products it manufactures.
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Worldwide hot band prices continued their rapid slide into December with the notable exception of China, where prices showed some slight recovery in the past two weeks, according to the latest report from SteelBenchmarker.
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It probably won’t be a happy New Year for U.S. Steel Corp., according to one analyst.
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The North American steel and iron ore markets don’t face any direct impact from BHP Billiton’s decision to drop its bid for Rio Tinto, but they could feel some ripple-through effects, industry analysts told AMM.
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BHP Billiton’s decision to pull the plug on its $66-billion hostile takeover of Rio Tinto means that struggling North American aluminum producers can now focus on survival without having to navigate the aftermath of such a massive merger, analysts and market sources said.
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The North American steel and iron ore markets don’t face any direct impact from BHP Billiton’s decision to drop its bid for Rio Tinto, but they could feel some ripple-through effects, industry analysts told AMM.
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U.S. steel imports were almost unchanged in October compared with the previous month, but some industry experts say there will be a decrease in the rest of the fourth quarter.
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Aleris International Inc. is idling a coil coating line in Roxboro, N.C., next week, laying off 45 employees and reducing potential output by about 25 million pounds annually.
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Citing lower steel demand and falling steel prices, Citi Investment Research analyst Brian Yu on Tuesday lowered 2008 and 2009 earnings estimates for three American mini-mill operators and revised his risk assessment for them to “speculative” from “high.” However, he maintained “buy” ratings on all three.
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Citing lower steel demand and falling steel prices, Citi Investment Research analyst Brian Yu on Tuesday lowered 2008 and 2009 earnings estimates for three American mini-mill operators and revised his risk assessment for them to “speculative” from “high.” However, he maintained “buy” ratings on all three.
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Nucor Corp., Charlotte, N.C., plans to invest $45 million over the next five years at its Darlington, S.C., bar mill, according to a statement Monday from the Darlington Economic Development Partnership.