Steel RSS

  • Nucor, German firm in clash on fees Nov 29, 2010

    Nucor Steel Kingman LLC, which is facing a potential lawsuit over a commission fee that a German equipment broker claims it owes for a $6.5-million deal that was never completed, has itself filed a declaratory relief lawsuit against that company.

  • ArcelorMittal predicts market turnaround by 2011 Nov 29, 2010

    Steel prices have reached bottom and consumer confidence will return to the market, Michael Pfitzner, ArcelorMittal SA’s executive vice president of commercial coordination and marketing, told delegates Monday at Metal Bulletin’s 8th Steel Success Strategies conference in London. Steel prices have remained volatile over the past year and are still devalued by low demand and the weight of high capacity, he said. “In my view, the second half of 2010 is not a success story. (But) once customer confidence returns, then they will start purchasing. They know the prices are low and the only way now is up. In the medium term, we should expect a turnaround. We should see a turnaround by the first half of 2011,” Pfitzner said. “Today, many of the steel companies in the developed world are working at a 65- to 70-percent capacity,” he added, claiming that the reduced utilization rate will help cut market volatility.

  • Shift to quarterly raw material prices damaged steel sector, says ArcelorMittal Nov 29, 2010

    A slowdown in the intensity of Chinese steel production will be the primary driver of a drop in iron ore prices, according to Peter Marcus, managing partner of World Steel Dynamics Inc., Englewood Cliffs, N.J. Tags could tumble to less than $100 per tonne delivered to China over the next three years, he estimated, noting that China’s steel production has been decelerating over the past few months while its domestic iron ore output has increased. While there will be a rise in steel production, China’s expenditure on its domestic iron ore will mean the nation is less reliant on the spot iron ore market for raw materials, Marcus said. He also predicted a more immediate decline in prices. “They are spending $13 million a year on improving their mines,” he said, adding that increased iron ore inventories at Chinese ports also means mills won’t have to turn to the spot market in the near term.

  • Iron ore prices could drop below $100 per tonne cfr China in three years, Marcus forecasts Nov 29, 2010

    Steel market instability continues at the hands of the shift earlier this year to quarterly linked iron ore prices versus the traditional annual contracts, according to Michael Pfitzner, Luxembourg-based ArcelorMittal SA’s executive vice president of commercial coordination and marketing. “The decision by the world’s leading mining companies to restructure the iron ore market (has had a huge market impact),” he said. “The increase of the iron ore price came extremely abruptly and damaged our industry, (our) customers and our product. The increase was too high and came too fast. We lost a lot of trust and good will. (But) integrated producers have not been forced to follow the price formula,” Pfitzner said, adding that there is now a two-tier system between producers dependent on quarterly linked index pricing and those who are self-sufficient in raw materials. “This cost advantage (of self-sufficiency) can result in a significant (shift in) market proportion,” he warned. If raw material prices disconnect with iron ore, then more instability will be created, Pfitzner added. “In the short term, quarterly pricing does not correspond to the essential needs of our customers. Projects and infrastructure need stability and rely upon planning They need forecast visibility,” he said.

  • Max Aicher gearing for restart of former Stelco bar mill Nov 29, 2010

    Max Aicher North America Inc. (MANA) is getting ready to restart the bar mill assets of the former Stelco Inc., which it acquired two weeks ago, having hired temporary hourly maintenance and electrical workers.

  • AK ratings view downgraded to ‘negative’ Nov 29, 2010

    AK Steel Corp.’s ratings outlook has been revised to “negative” from “stable” by Standard & Poor’s Ratings Services, which cited concerns about steel demand, lower prices and rising iron ore costs.

  • China’s daily steel output rises 0.4 percent, but pace slows Nov 29, 2010

    Daily steel production in China rose slightly in mid-November as some mills boosted output and others took scheduled maintenance, though the pace has slowed from earlier in the month.

  • Nucor Steel Kingman, German equipment broker in clash on unconsummated deal fee Nov 29, 2010

    Nucor Steel Kingman LLC, which is facing a potential lawsuit over a commission fee that a German company claims it owes for a $6.5-million deal that was never completed, has itself filed a declaratory relief lawsuit against that company.

  • S&P downgrades AK Steel’s rating outlook to negative from stable Nov 24, 2010

    Standard & Poor’s Ratings Services revised its rating outlook on AK Steel Corp. to negative from stable due to concerns about steel demand, lower prices, and rising iron ore costs.

  • Baosteel targets Alaska as it moves to boost line pipe credentials Nov 24, 2010

    Chinese steelmaker Baosteel Group Corp. is turning its sights on Alaska, according to trade attorney sources, as it looks to “seize the opportunity” to boost its global presence in high-end steel pipeline products.

  • Baosteel targets Alaska as it moves to boost line pipe credentials Nov 24, 2010

    Chinese steelmaker Baosteel Group Corp. is turning its sights on Alaska, according to trade attorney sources, as it looks to “seize the opportunity” to boost its global presence in high-end steel pipeline products.

  • US hot band prices up but cause stirs dispute Nov 24, 2010

    Hot-rolled band prices are showing mixed movement, with the U.S. and world export markets ticking up while Western Europe fell as China landed on even footing.

  • Steel wary of trade issues as import market share steady Nov 24, 2010

    North American steel industry trade associations remain wary about potential dumping issues and a weak economic recovery even as steel imports continue to decline.

  • VSMPO deal is opportunity for expansion at Universal Nov 24, 2010

    An agreement to convert titanium is the biggest step so far in Universal Stainless & Alloy Products Inc.’s efforts to fill “underutilized” capacity, the company said.

  • US hot band prices climb but reason behind rise disputed Nov 24, 2010

    Hot-rolled band prices are showing mixed movement, with the U.S. and world export markets ticking up while Western Europe fell as China landed on even footing.

  • Steel groups wary of looming trade issues as import market share steady Nov 24, 2010

    North American steel industry trade associations remain wary about potential dumping issues and a weak economic recovery even as steel imports continue to decline.

  • Samuel, Son acquires stainless processor Nov 24, 2010

    Samuel, Son & Co. Ltd. has acquired AP Specialty Metals, the second metal distribution acquisition announced in two days.

  • Insteel moves for quick roll-in of Ivy’s assets Nov 24, 2010

    Insteel Wire Products Co. is already forging ties with recently purchased Ivy Steel & Wire Inc., and anticipates an easy integratation of the assets, its top executive said.

  • NW Pipe says steel prices rising, predicts good results from OCTG Nov 24, 2010

    Northwest Pipe Co. sees steel prices on the upswing, management said Tuesday in its first earnings conference call in more than a year.

  • Insteel moves for quick roll-in of Ivy’s assets Nov 24, 2010

    Insteel Wire Products Co. is already forging ties with recently purchased Ivy Steel & Wire Inc., and anticipates an easy integratation of the assets, its top executive said.

  • Samuel, Son acquires stainless processor Nov 23, 2010

    Samuel, Son & Co. Ltd. has acquired AP Specialty Metals, the second metal distribution acquisition announced in two days.

  • NW Pipe says steel prices rising, predicts good results from OCTG Nov 23, 2010

    Northwest Pipe Co. sees steel prices on the upswing, management said Tuesday in its first earnings conference call in more than a year.

  • West Coast tubing makers gauge odds of price hike Nov 23, 2010

    West Coast producers of structural steel tubing are cautiously weighing the chances of a price increase as they attempt to gauge an apparent less-than-full implementation of an announced $40-per-ton hike east of the Rockies.

  • China’s WSP Holdings may be returning to US market in 2011 Nov 23, 2010

    China’s WSP Holdings Ltd. indicated Tuesday that it could be back in the U.S. market as early as next year.

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