Steel

• Gerdau Long Steel cuts merchant product prices $20/T May 02, 2013

  Gerdau Long Steel North America has lowered its merchant steel product base prices by $20 per ton ($1 per hundredweight) effective with May 1 shipments, the company said in a letter to customers.

• Tenaris sees North America drilling pickup by year-end May 02, 2013

  Tenaris SA expects North American drilling activity to begin to pick up by the end of the year, while international drilling activity is expected to increase slowly throughout the remainder of 2013, the company said in its first-quarter earnings report.

• Weak demand sinks China's H-beam export prices May 02, 2013

  China’s H-beam export market has slumped on thin trade, shedding $20 per tonne over the past week.

• China's Zhejiang exchange plans iron ore trading platform May 02, 2013

  Zhejiang Zhoushan Bulk Commodity Exchange is seeking to launch a spot iron ore trading platform by year-end.

• ITA seeks comments on administrative reviews May 02, 2013

  The U.S. Commerce Department’s International Trade Administration (ITA) has given notice for interested parties to participate in various administrative reviews.

• U.S. steel import licenses tick up in April May 01, 2013

  U.S. steel imports appear to have bucked a two-month slide, increasing 4 percent in April from the previous month on increased shipments from Brazil and Japan.

• Drilling to pick up as gas prices rise: USS May 01, 2013

  U.S. Steel Corp. expects domestic drilling activity to pick up as natural gas prices, buoyed by a drawdown of stocks due to a longer than expected winter in some parts of the country, have risen to more than $4 per million British thermal units (mmBtu).

• Obamacare hard pill to swallow: execs May 01, 2013

  New parts of the Affordable Care Act (ACA) will come into full force in eight months, and while most steel companies are sticking with the health insurance plans they currently offer employees, they aren’t happy about what may come next.

• USS eyes vertical integration in natural gas May 01, 2013

  U.S. Steel Corp. is considering vertically integrating into natural gas if the opportunity is right, its top executive said.

• Trade laws said crucial to steel’s future May 01, 2013

  Strict enforcement of trade laws will be crucial to keeping steelmakers’ margins healthy and maintaining the U.S. manufacturing sector’s strength, according to several top trade attorneys.

• ITC sets vote on Japanese nickel-plated steel May 01, 2013

  The U.S. International Trade Commission will vote May 10 in a preliminary determination on imports of diffusion-annealed, nickel-plated flat-rolled steel products from Japan.

• ITA again amends review results vs. Indian flat-rolled steel May 01, 2013

  The U.S. Commerce Department’s International Trade Administration (ITA) has issued a second set of amended final results in the countervailing duty administrative review of hot-rolled carbon steel flat products from India.

• Gerdau lowers rebar base prices $20/ton May 01, 2013

  Gerdau Long Steel North America has lowered its base price on concrete reinforcing bar (rebar) by $20 per ton ($1 per hundredweight) effective for all shipments beginning May 1, the company announced in a letter to customers.

• Universal 1st-qtr. earnings, sales drop sharply May 01, 2013

  Universal Stainless & Alloy Products Inc. saw sales drop sharply in the first quarter as customers continued to manage inventory levels and purchase material on a "hand-to-mouth" basis.

• USS, Republic mull DRI joint venture in Ohio May 01, 2013

  U.S. Steel Corp. is considering a direct-reduced iron (DRI) venture with Republic Steel in Lorain, Ohio, it said.

• Longhi to head USS cost-saving initiatives May 01, 2013

  U.S. Steel Corp. is stepping up its efforts to reduce costs in a number of key areas, including raw materials, logistics, and repair and maintenance, in what it has characterized as a tough market environment.

• State-owned enterprises muddle TPP talks May 01, 2013

  Discussions on how to manage state-owned enterprises (SOEs) may come under increased scrutiny in future negotiations over what could be one of the largest trade agreements to date—the proposed Trans-Pacific Partnership (TPP).

• US economy faces hurdles but upside ahead: Morici May 01, 2013

  The U.S. economy continues to face a number of major obstacles, from regulatory overreach to a swelling trade deficit with China, but there also exist numerous "reasons for optimism," according to Peter Morici, a professor at the University of Maryland’s Robert H. Smith School of Business.

• North American Stainless trims fuel surcharge May 01, 2013

  North American Stainless Inc. (NAS) has reduced its fuel surcharge for stainless flat and long products to 34 percent effective with May 1 shipments.

• ArcelorMittal optimistic for US operations in 1st-half ’13 May 01, 2013

  ArcelorMittal SA expects limited inventory restocking to benefit its U.S. operations in the first half of 2013 following rising demand coupled with inventory cuts in the fourth quarter of 2012.

• Ternium drops out of running for TK slab mill May 01, 2013

  Latin American steelmaker Ternium SA has ruled itself out as a possible bidder for ThyssenKrupp AG’s 73.13-percent stake in the 5-million-tonne-per-year Cia. Siderúrgica do Atlântico (CSA) slab plant in Brazil.

• Steelmaker Ahmsa’s first-quarter sales fall 4.8% year on year May 01, 2013

  Mexican steelmaker Altos Hornos de México SAB de CV (Ahmsa) saw revenues fall by 4.8 percent year over year in the first quarter of 2013.

• Commerce reviewing duties vs. steel wire rod, pipe, silicon metal May 01, 2013

  The Commerce Department’s International Trade Administration (ITA) is conducting various five-year reviews of anti-dumping duty orders.

• USS considers DRI joint venture with Republic Apr 30, 2013

  U.S. Steel Corp. is considering a direct-reduced iron (DRI) joint venture with Republic Steel in Lorain, Ohio, chairman and chief executive officer John P. Surma said during the company’s first-quarter conference call April 30.