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Billionaire investor Carl Icahn has formally launched his previously announced tender offer to acquire all outstanding shares of Commercial Metals Co. (CMC), according to documents filed with the U.S. Securities and Exchange Commission.
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The U.S. International Trade Commission (ITC) will determine in a full five-year sunset review whether the revocation of the anti-dumping duty order on tin- and chromium-coated steel sheet from Japan will likely lead to material injury to domestic producers.
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The Commerce Department has announced an affirmative preliminary determination in its anti-dumping duty investigation of imports of high-pressure steel cylinders from China. Mandatory respondents Beijing Tianhai Industry Co. Ltd., JSX International Trading Co., Shijiazhuang Enric Gas Equipment Co. Ltd. and Zhejiang Jindun Pressure Vessel Co. Ltd. will receive a preliminary dumping rate of 5.08 percent.
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The Commerce Department’s International Trade Administration (ITA) is rescinding its anti-dumping duty administrative review of circular welded carbon-quality steel pipe from China for the period from July 1, 2010, to June 30, 2011, because the only interested party withdrew its request.
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The Commerce Department’s International Trade Administration (ITA) has determined in the final results of its anti-dumping duty administrative review of certain welded carbon steel pipe and tube (circular cross-section not more than 16 inches in outside diameter) from Turkey for the May 1, 2009, to April 30, 2010, period that manufacturer/exporter Borusan Group will receive a weighted-average margin of 4.46 percent and Toscelik will receive a weighted-average margin of 0.95 percent.
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The European Bank for Reconstruction & Development (EBRD) is stabilising the finances of Polish steel mill Celsa Huta Ostrowiec (HO) with short-term financing worth 150 million zloty ($44.75 million), a note from the development bank said.
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London Metal Exchange official three-month steel billet bid prices fell on December 9, ending the week with the same spread with which it started on December 5.
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OTC iron ore prices were nearly unchanged on December 9 as trading activity slowed at the end of the working week.
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The Commerce Department will instruct U.S. Customs and Border Protection to refund any anti-dumping cash deposits on entries of cut-to-length plate from Japan and Italy on or after Dec. 6, 2010. Any imports prior to that date will be subject to the duties. Due to a reporting error, a Dec. 6 story incorrectly stated that the U.S. International Trade Commission’s revocation of duty orders would mean a refund of duties for unliquidated subject merchandise for up to five years.
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Hanna Steel Corp. has increased prices on all tubular products by $50 per ton ($2.50 per hundredweight) effective Dec. 6.
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AK Tube LLC plans to increase prices for all electric-resistance welded (ERW) carbon steel tubing by $50 per ton ($2.50 per hundredweight).
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Stainless pipe and tube tags are on the rise for the new year amid gains in raw materials costs, according to mill letters to buyers.
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Excess housing stocks built up during the real estate bubble could take up to 12 years to work through, a financial analyst said at the Minor Metals Trade Association’s annual dinner in New York.
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Wide-flange beam producers could be poised to raise published prices following a substantial boost in a benchmark scrap price, although just how much that would push actual transaction tags up remains to be seen.
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Local rebar prices in Russia have fallen by about $25 per tonne for material produced in December as a year-end lull affects activity, market sources told Metal Bulletin.
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The London Metal Exchange steel billet futures contract saw a 30.4% increase in volumes year-on-year, the bourse said on December 9.
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Crude steel production increased by 10.6% in the first eight months of the Iranian year, according to the chief of the Iranian Mines & Mining Industries Development & Renovations Organisation (Imidro).
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France-based tubular goods producer Vallourec has completed the acquisition of Saudi Arabi’s Zamil Pipes for €97 million ($130 million).
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ArcelorMittal South Africa (Amsa) and Kumba Iron Ore subsidiary Sishen Iron Ore (SIOC) have delayed arbitration proceedings on the Sishen iron ore supply agreement until a dispute over mining rights is resolved, Kumba said.
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China’s imported iron ore market gained $2 this week as some market participants resumed buying.
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Kobe Steel will spend 30 billion yen installing treatment equipment to raise its output of niche products, especially for the auto and energy sectors.
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China's steel market took some encouragement from China's latest inflation figures, which were seen as positive for steel demand.
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China wire rod exporters have cut their offer prices by up to $30 in the past month, tracking the falling domestic market.
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Jianlong Group wants to raise iron ore self-sufficiency through expansion and acquisitions as it builds its steel output to 15 million tpy.