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It's been just over a month since the CME Group Inc. launched its hot-rolled coil contract, and interest - to put it mildly - has been tepid.
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So, what's the possible outcome of a federal court slugfest between private equity firm The Carlyle Group and Russia's OJSC Novolipetsk Iron & Steel Works (NLMK)?
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It's no secret that the Detroit 'Big Three' are in dire straits.
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Mass layoffs are back with a vengeance.
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Reflecting weakening demand, Baosteel Group Corp. Ltd. has cut its December flat-rolled steel prices again, market participants said.
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Three more steelmakers—Evraz Oregon Steel Mills, Portland, Ore.; ArcelorMittal SA’s Border Steel Inc. mill in Vinton, Texas; and Tamco Steel Inc., Rancho Cucamonga, Calif.—have laid off or plan to lay off workers over the next few weeks, company and government sources indicated Friday.
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French company Kuhn SA mowed down the competition for the Swedish Steel Prize for 2008.
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A seven-strand billet caster has started up at the Dneprovsky Iron & Steel Integrated Works (DMKD) in Ukraine, according to Siemens VAI Metals Technologies GmbH, Linz, Austria.
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Canadoil Plate Ltd., Bangkok, has become the first company to order the new Siemens Smart Shear Technology, a hydraulically operated plate shear that Siemens VAI Metals Technologies GmbH says provides improved cutting quality.
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Northwest Pipe Co. has booked a $17-million order for pipe for a Colorado water project.
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Voestalpine AG, Linz, Austria, posted the most successful fiscal first half in its history thanks to what it termed “the dynamic development of the energy sector.”
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Svenskt Stal AB (SSAB), Stockholm, Sweden, said weaker-than-expected steel demand will reduce deliveries by its North American division by about 30 percent in the fourth quarter vs. the same period last year, another of the mounting indications from steelmakers of waning demand.
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Some say skiing is a controlled fall down a mountain. Buyer sources now say with the way pricing is going, steel producers might want to trade in their ski boots for some basketball shoes, especially those who said years ago they would “jump for joy” at the prospect of $500 per ton hot-rolled sheet.
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Svenskt Stal AB (SSAB), Stockholm, Sweden, said weaker-than-expected steel demand will reduce deliveries by its North American division by about 30 percent in the fourth quarter vs. the same period last year, another of the mounting indications from steelmakers of waning demand.
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Voestalpine AG, Linz, Austria, posted the most successful fiscal first half in its history thanks to what it termed “the dynamic development of the energy sector.”
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Nucor Corp., Charlotte, N.C., could put off investing at least $2 billion in a greenfield pig iron project in Louisiana and opt to acquire steel assets at relatively inexpensive prices, according to Goldman Sachs Group Inc. analyst Sal Tharani.
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Global steel production declined further in October as steelmakers continued to be squeezed by the sharp economic downturn.
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Congressman Tim Murphy (R., Pa.) has been named vice chairman of the Steel Caucus executive committee for the 111th Congress, replacing Rep. Phil English (R., Pa.), who was unseated by Kathy Dahlkemper in the general election.
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Global steel production declined further in October as steelmakers continued to be squeezed by the sharp economic downturn.