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London Metal Exchange (LME) three-month steel billet official prices prices bounced back up December 20, after dropping $40 over the weekend.
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Automotive steel blanks producer Shiloh Industries Inc. posted net income of more than $7.8 million in its fiscal year ended Oct. 31, double earnings of nearly $3.9 million the previous year on sales that rose 13.2 percent to $517.7 million.
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The OTC iron ore market saw little activity December 20, with prices pushed up by a higher levels reached in a couple of trades, brokers told Metal Bulletin.
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Indian hot rolled coil exports prices have fallen by at least $15 per tonne in the past week from levels seen at the end of November, market sources told Metal Bulletin.
HRC has been booked at $575-580 fob Western Indian ports compared to exports booked at $590-595 fob three to four weeks ago, as Indian mills start selling aggressively to the export market.
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Three Brazilian companies have come together in a 7.6 billion Reais ($4 billion) joint venture to develop a 20 million-tpy integrated iron ore project in Brazil.
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An ArcelorMittal USA LLC subsidiary has filed a countersuit against a customer that last month accused the company of reneging on deliveries of metallurgical coal amid rising prices.
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U.S. raw steel output totaled 1,945,000 net tons last week, a 5.7-percent jump from 1,840,000 tons the previous week, as mills operated at an average capability utilization rate of 78.5 percent. It was the highest weekly level since late September 2008, when 1,986,000 tons were produced.
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Qatar Steel has increased its stake in Saudi Arabia’s South Steel to 29.7% from 20.9%.
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European wire rod producers have held domestic prices steady for a second week in a row to entice sales from local consumers.
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European rebar producers have held prices at the same level for a second consecutive week for December rolling and delivery to encourage purchases by local consumers.
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Anglo American has received offers of interest in its 70%-owned Amapa iron ore project in Brazil, a source close to the company said.
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Spot iron ore prices to China remained flat on Tuesday December 20, with market participants split on the short-term outlook.
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Indonesia’s hot rolled coil prices have remained flat for the past three weeks ahead of the year-end holiday.
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Spot rebar and wire rod prices continued to fall on Tuesday December 20 on weak demand in northern China due to the freezing winter weather.
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Billet offers into Southeast Asia have risen by as much as $20 per tonne in the past two weeks tracking the rise in scrap prices.
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Yanzhou Coal Mining, China’s fourth-largest coal producer, plans to take over Gloucester Coal for at least $2 billion in a cash-and-stock scheme.
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The Commerce Department’s International Trade Administration (ITA) is rescinding its anti-dumping duty administrative review on certain magnesia carbon bricks from Mexico because the petitioner, Resco Products Inc., withdrew its request.
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A countervailing duty administrative review for certain welded carbon steel standard pipe and tube (0.375 inches or more but less than 16 inches in outside diameter) from Turkey is being rescinded by the Commerce Department’s International Trade Administration (ITA), which cited no evidence of imports of the subject merchandise during the Jan. 1, 2010, to Dec. 31, 2010, period of review.
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The Commerce Department’s International Trade Administration (ITA) is rescinding the countervailing duty administrative review for circular-welded carbon quality steel pipe from China because petitioner Wheatland Tube Co. withdrew its request.
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A preliminary determination in the countervailing duty investigation of circular welded steel pipe from India, Oman, United Arab Emirates and Vietnam has been delayed to March 26 by the Commerce Department’s International Trade Administration (ITA) at the request of one of the petitioners, Wheatland Tube Co.
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The Commerce Department has determined that revoking anti-dumping duty orders on welded ASTM A-312 stainless steel pipe from South Korea and Taiwan would likely lead to material injury and, therefore, will continue existing orders.
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The Commerce Department’s International Trade Administration (ITA) is rescinding an anti-dumping duty administrative review on certain welded carbon steel standard pipes and tubes from India due to the petitioner, U.S. Steel Corp., withdrawing its request.
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More than a month after structural steel tube producers east of the Rockies launched two rounds of price hikes, some key mills on the West Coast are beginning to mount their first increase.
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Commercial Metals Co.’s board of directors on Monday urged shareholders to reject billionaire investor Carl Icahn’s $15-per-share hostile bid for the company and
to reject nominees to its board who it says are tied to Icahn.