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Chartering rates for vessels carrying iron ore on the main freight routes to China were stable to firm on December 8, brokerage firm Clarkson Securities told Metal Bulletin.
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Major shareholder Nippon Steel has approved the acquisition of ordinary shares in Brazil’s Usiminas by Latin American steelmaker Ternium, its Argentinian subsidiary Ternium Siderar and its Brazilian sister company TenarisConfab.
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Egyptian rebar consumers re-entered the Turkish rebar market this week in a buying frenzy, aiming to cash in on lower import prices for January shipments.
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Tubular goods producer Vallourec has launched a €650 million ($871 million) bond issue to fund general financing.
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The London Stock Exchange has added Evraz to its FTSE 100 index, roughly six weeks after it admitted the Russian steelmaking group to the bourse’s main exchange.
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Higher ferrous scrap costs from US suppliers have pushed Turkish billet export prices up by $10 per tonne for January production and shipment.
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Spot rebar prices dipped in Shanghai today on further falls in semi-finished products prices and ex-works price decreases.
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China’s imported iron ore market was unchanged on Thursday, as weak steel prices quashed appetite for raw materials from steel mills.
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Nippon Steel & Sumikin Stainless Corp (NSSC) has cut its domestic prices for stainless steel products further on lower nickel prices.
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The latest high-carbon ferro-chrome bid from Baosteel for December delivery is 7,450 yuan per tonne ($1,173), a month-on-month fall of 250 yuan, sources said.
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China’s H-beam producers have reduced their export prices for late January and early February shipments to reflect the weak domestic market.
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As structural steel tube producers east of the Rockies slate their second round of price hikes, buyers and mills on the West Coast see little indication that the market is ready yet for even a first round of increases.
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The $40- to $50-per-ton price hikes that a number of steel mills are seeking for hot-rolled, cold-rolled and coated flat products aren’t encouraging service centers to build inventories, despite the fact that many say they are experiencing good order rates.
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At least one major steelmaker has officially hopped on board a recently announced sheet price increase, but with a number of other mills said to be further evaluating the market before mirroring the move, some players wonder whether the latest round of increases has legs.
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Despite increased sales, Webco Industries Inc. saw its fiscal first quarter profits slide due to facility start-up and product development costs.
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Flat-rolled stainless steel distributors are holding off on purchases, even with prices at a 21-month low and a January price increase looming, because they anticipate a sluggish first quarter.
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ExlTube plans to boost prices on tubular products by a minimum of $50 per ton ($2.50 per hundredweight).
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Alpha Natural Resources Inc. has agreed to pay $209 million in connection with the criminal investigation of the explosion that killed 29 miners at the Upper Big Branch metallurgical coal mine in West Virginia in April 2010.
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Clean Tech Silicon & Bar LLC will meet with members of the local government in Badin, N.C., on Friday to discuss the viability of launching operations in the area, sources familiar with the project told AMM.
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NCI Building Systems Inc. posted a profit in its fiscal fourth quarter, narrowing its loss for the full year.
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Demand for ocean freight has regained its footing following the economic crisis that shook the world, according to Robert Drew, general manager of logistics for Tata Steel International.
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The London Metal Exchange’s (LME) three-month official billet price gained $5 per tonne on Wednesday thanks partly to rising scrap prices, traders told Metal Bulletin.
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Global overcapacity of capesize ships will plague the market—particularly in terms of low pricing and weak or phantom profits for ship owners—for some time, according to several international shipping experts.
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The European Commission (EC) has proposed imposing anti-dumping duties at a rate of 71.9% on Chinese exports into the European Union (EU) of seamless pipe and stainless steel tube.