-
Growing Chinese interest in the ferrous derivatives arena is driving iron ore futures screen trading, Martin Evans, CME Group Inc.’s director of metals products, told AMM sister publication Steel First in an interview May 16.
-
Enforcing U.S. trade policy and capitalizing on low-priced natural gas will help U.S. steelmakers while offering broad economic benefits, including job creation and manufacturing growth, a number of steel executives said at an industry conference May 16.
-
Grupo Simec SAB de CV, parent company of Lorain, Ohio-based Republic Steel, expects to make about $1.3 billion over the life of a five-year billet supply deal with Pittsburgh-based U.S. Steel Corp.’s tubular facility in Lorain.
-
A federal judge has denied a six-month extension to a group of large steel mills and distributors named in a lawsuit brought by MM Steel LP alleging they conspired to drive MM Steel out of the market.
-
While the United States remains one of the strongest economies globally, lackluster growth and a large fiscal deficit may cause serious downward pressure in the near term, according to one economist.
-
Pipe and tube distributors say they would welcome a move by flat-rolled steelmakers to take capacity offline in order to prop up pricing for the substrate.
-
U.S. steel mills shipped more than 7.92 million net tons in March, 6.5 percent higher than the 7.44 million tons shipped the previous month but down 6.9 percent from 8.51 million tons in March 2012, American Iron and Steel Institute data show.
-
Michael T. Rehwinkel, president and chief executive officer of Evraz Inc. North America, has been elected chairman of the American Iron and Steel Institute.
-
The last vestiges of a West Coast hike of $30 per ton on structural steel tubing appear to be fading away as prices return to previous levels.
-
Brazil’s merchant pig iron exports fell sharply in April, largely due to lower shipments to U.S. buyers.
-
The North Carolina House of Representatives has passed a bill that would effectively block the use of Leadership in Energy and Environmental Design (LEED) ratings for public projects, a move that Nucor Corp. protested because it could hurt steel mills in the region that sell construction-related products.
-
The embattled long steel products market is likely heading toward a new pricing floor and any rebound is a long way off, according to a short-range forecast by the International Rebar Exporters and Producers Association (Irepas).
-
German steel producer and industrial manufacturer ThyssenKrupp AG reported a net loss attributable to its shareholders of €656 million ($843.6 million) for the quarter ending March 31, the company said May 15.
-
Canadian iron ore producer Labrador Iron Mines Holdings Ltd. (LIM) has renewed its iron ore sales agreement with Iron Ore Co. of Canada (IOC) for all of its iron ore production in 2013 and 2014.
-
ArcelorMittal USA LLC has confirmed that it is on track to restart its coke operations in Monessen, Pa., in May 2014.
-
Stemcor Holdings Ltd., the world’s largest steel trader, plans to divest parts of its business in a wider restructuring process implemented by new chief executive officer Julian Verden, sources close to the company told AMM sister publication Steel First.
-
The steel sheet spot market has dragged its feet this week as thin margins and short lead times continue to hinder pricing upside.
-
Domestic producers of energy tubulars saw weak first-quarter results across the board, and the industry is now a step nearer to filing a trade complaint, according to Scott Montross.
-
The Commerce Department’s International Trade Administration (ITA) has initiated an anti-dumping duty investigation into imports of prestressed concrete steel rail tie wire from China, Mexico and Thailand.
-
Hot-rolled and cold-finished bar product prices both fell in May amid lower scrap surcharges, with hot-rolled taking the bigger tumble, market sources said.
-
Steel Dynamics Inc. (SDI) will lower its scrap surcharge on special bar quality (SBQ) products rolled at its Pittsboro, Ind., mill by $1 per hundredweight ($20 per ton) effective June 1.
-
Atkore International Holdings Inc. posted a $2-million net loss for its fiscal second quarter vs. net income of $4 million in the same period a year ago on sales that fell 4.9 percent to $406 million, the company said.
-
Bri-Chem Corp. says it is hard to predict how the rest of the year will shape up for the North American drilling market, although it does expect a second-quarter decline in Canadian activity due to the snow melt.
-
Edgen Group Inc. has withdrawn its previously issued guidance for 2013 as it posted a first-quarter net loss of nearly $5.39 million on sales that fell 19.7 percent to $406.1 million.