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Although total U.S. steel shipments in October were on the rise, service centers’ outlook for the balance of the fourth quarter—especially in terms of their confidence in replacing stock—has dimmed.
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Structural steel prices are moving up, but wide-flange beam buyers continued to order material this week at price levels seen before recently announced hikes.
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Price quotes for new plate orders have bumped up over the past week following a recent round of increase announcements, but transaction tags have failed to rise in tandem, market sources said.
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OAO Severstal expects the fourth quarter to be more challenging than the third quarter, forecasting falling global steel prices amid stable input costs.
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All large domestic flat-rolled stainless steel producers have followed a price hike on 200-, 300- and some 400-series stainless grades.
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The iron and steel scrap producer price index (PPI) took a nosedive in October, falling 11.4 percent from the previous month and 27.3 percent from the same month last year, the latest Bureau of Labor Statistics (BLS) report shows.
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The U.S. International Trade Commission (ITC) voted unanimously Thursday that imports of steel wire garment hangers from Taiwan are materially injuring the domestic industry.
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Keystone Steel & Wire Co. plans to boost prices on all wire rod products by $50 per ton ($2.50 per hundredweight) effective with shipments Dec. 1.
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Commercial Metals Co. (CMC) has received permitting to increase capacity at its Arizona rebar micro-mill, according to a top executive.
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It makes "more sense" to have shorter pricing terms for metallurgical coal, according to Jim Truman, principal analyst at consultant Wood Mackenzie Ltd.
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Metals USA Inc., a subsidiary of Metals USA Holdings Corp., has received commitments for, and intends to enter into, a new seven-year senior secured term loan of $225 million.
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Chinese H-beam export offers fell this week as steelmakers made cuts in an effort to bolster sales.
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After taking a dip this month, wire rod prices appear poised to reverse course in December, although market sources differ on how much and for how long the recently announced increases might stick.
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While market sources say the most recent round of flat-rolled steel price increases might have some legs, spot buyers reported limited transactions in the first half of this week, noting that they have enough inventory to meet demand.
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The flat-rolled steel import market is seeing a slight pickup in activity, aided by rising domestic prices and first-quarter contract orders, market participants told AMM.
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Essar Steel Algoma Inc. has posted its third consecutive quarterly loss due to a combination of falling product prices, declining shipments and rising costs.
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Demand for engineered bar products has fallen sharply during the fourth quarter, according to cold finishers, service centers and end-users, but transaction prices were flat to up slightly during the first two weeks of November as buyers made smaller-volume purchases.
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Imports of circular-welded carbon-quality steel pipe from India, Oman, the United Arab Emirates and Vietnam are not hurting the domestic industry, the U.S. International Trade Commission (ITC) determined in a 4-to-2 vote Wednesday in the final phase of an anti-dumping and countervailing duty case filed in October 2011.
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Steel Dynamics Inc. (SDI) plans to increase prices on products from its Roanoke (Va.) bar division by $35 per ton ($1.75 per hundredweight) effective with shipments Dec. 1, according to a letter to customers, following similar hikes by other domestic mills.
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U.S. Steel Košice SRO (USSK) has received a number of expressions of interest in acquiring the mill, a spokesman for the Slovak flat steel producer confirmed to AMM sister publication Steel First.
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Flat-rolled steel buyers on the West Coast are looking to late November for clues on the strength of recent price hikes.
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The outlook for the U.S. steel sector is one of stability, according to Metals USA Holdings Corp.’s top executive, although continued growth will require discipline from domestic mills in order to keep tags up and fix volatility in pricing cycles.
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Nucor Corp. is raising wire rod transaction prices by $50 per ton ($2.50 per hundredweight) effective with Dec. 1 shipments, the Charlotte, N.C.-based steelmaker said in a Nov. 12 letter to customers.
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ThyssenKrupp Stainless USA LLC has begun buying stainless scrap and ferroalloys in anticipation of the start-up of its melt shop at the end of the year, AMM has learned.