• Icahn formally launches CMC offer Dec 09, 2011

    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.

  • ITC to review duties on coated steel sheet Dec 09, 2011

    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.

  • Commerce sets dumping margin on Chinese steel cylinders Dec 09, 2011

    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.

  • Commerce rescinds review of China pipe imports Dec 09, 2011

    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.

  • Commerce sets duty margin on Turkish pipe, tube Dec 09, 2011

    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.

  • EBRD lends $45m to Celsa to develop Polish steel mill Dec 09, 2011

    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.

  • LME 3-month steel billet bid price dips on day to end week flat Dec 09, 2011

    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.

  • SWAPS REPORT: OTC iron ore prices static as trading slows at week-end Dec 09, 2011

    OTC iron ore prices were nearly unchanged on December 9 as trading activity slowed at the end of the working week.

  • Correction: ITC revokes plate duties vs. Japan, Italy Dec 09, 2011

    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.

  • Hanna lifts tube tags $50/T in latest round of increases Dec 09, 2011

    Hanna Steel Corp. has increased prices on all tubular products by $50 per ton ($2.50 per hundredweight) effective Dec. 6.

  • AK Tube boosting ERW prices $50/T Dec 09, 2011

    AK Tube LLC plans to increase prices for all electric-resistance welded (ERW) carbon steel tubing by $50 per ton ($2.50 per hundredweight).

  • Stainless tubular tags to climb into 2012 Dec 09, 2011

    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.

  • Housing crisis could linger another 12 years: Ritholtz Dec 09, 2011

    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.

  • Beam producer hike likely after shredded rise Dec 09, 2011

    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.

  • Year-end doldrums, economic worries depress Russian rebar price $30 for December Dec 09, 2011

    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.

  • LME billet futures contract boosts trading volumes by 30.4% Dec 09, 2011

    The London Metal Exchange steel billet futures contract saw a 30.4% increase in volumes year-on-year, the bourse said on December 9.

  • Iran's steel output up10.6% for March-November, Imidro says Dec 09, 2011

    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).

  • Vallourec completes $130m acquistion of Saudi pipe processor Dec 09, 2011

    France-based tubular goods producer Vallourec has completed the acquisition of Saudi Arabi’s Zamil Pipes for €97 million ($130 million).

  • AMSA, Kumba subsidiary delay talks on iron ore supply agreement Dec 09, 2011

    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.

  • Spot 63.5% Fe iron ore prices gain $2 week-on-week Dec 09, 2011

    China’s imported iron ore market gained $2 this week as some market participants resumed buying.

  • Kobe Steel targets auto, energy sectors with $387m investment Dec 09, 2011

    Kobe Steel will spend 30 billion yen installing treatment equipment to raise its output of niche products, especially for the auto and energy sectors.

  • CHINA STEEL WRAP: Market optimistic for next week Dec 09, 2011

    China's steel market took some encouragement from China's latest inflation figures, which were seen as positive for steel demand.

  • China wire rod cut export prices by $20-30 in early December Dec 09, 2011

    China wire rod exporters have cut their offer prices by up to $30 in the past month, tracking the falling domestic market.

  • Jianlong Group to increase iron ore self-sufficiency Dec 09, 2011

    Jianlong Group wants to raise iron ore self-sufficiency through expansion and acquisitions as it builds its steel output to 15 million tpy.

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