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Domestic steel coil prices may have "reached bottom," but cheaper raw material costs in other parts of the world continue to leave U.S. tubular producers at a disadvantage when it comes to competing with imports, Northwest Pipe Co.’s top executive said.
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A reported four of the five traders in the pipe and tube department of trading house Coutinho & Ferrostaal Inc. have left the company, according to a number of well-placed sources familiar with the departures.
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Posco Ltd. is increasingly focusing on higher-value oil and gas markets as challenges in the commodity-grade steel market continue to mount.
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Gerdau Long Steel North America is opening an office in Irving, Texas, as the company seeks to further expand into the Texas steel market, a spokeswoman told AMM.
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Global steel growth in the second half of the year will largely depend on decisions made by China’s new leadership, according to the top executive at Posco Ltd.
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OAO TMK expects the first trial shipment from its Gulf International Pipe Industry LLC (GIPI) subsidiary in Oman to arrive on U.S. shores by the end of the month as the company looks to establish itself in the North American market, company executives told AMM on the sidelines of the Offshore Technology Conference in Houston.
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High levels of imports continue to weigh down Northwest Pipe Co.’s tubular segment’s financial performance, and that pressure is likely to persist in the months ahead, the Vancouver, Wash.-based pipe and tube maker said in reporting its first-quarter results.
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High-strength steel (HSS) rebar can now be incorporated into bridge designs thanks to revised regulations, according to specialty concrete reinforcing steel producer MMFX Steel Corp. of America.
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U.S. raw steel output totaled an estimated 1,884,000 net tons last week, up 1 percent from 1,866,000 tons the previous week, as mills operated at an average capability utilization rate of 78.6 percent. It was the highest weekly output since 1,899,000 tons were produced in early August.
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Timken Co. temporarily suspended production at its Faircrest Steel Plant in Canton, Ohio, this past weekend after two contractors were killed in a construction accident.
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Wire rod producer Ivaco Rolling Mills LP is on schedule to complete its new melt shop by March of next year.
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Plans are under way to launch a family of finished steel and scrap metal futures products in the United States this year to provide buyers and sellers along the steel supply chain another set of tools to help manage price volatility.
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Domestic steel sheet prices appear to have hit a bottom, sources said, but an oversupply of material continues to stymie any upside despite what distributors and mills report to be stable demand.
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Steel Dynamics Inc.’s (SDI’s) Roanoke Bar unit in Roanoke, Va., has lowered its price for all products by $20 per ton ($1 per hundredweight) effective with May 2 shipments.
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Commercial Metals Co. (CMC) intends to offer $300 million of senior notes in an underwritten public offering, the Irving, Texas-based steelmaker said May 6.
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Excess supply and low demand are the two main issues affecting the profitability of Mexican steel distributors, a key industry figure told AMM sister publication Steel First.
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Primary stainless steel prices have dropped in line with surcharge decreases for May, with producers reportedly unable to establish base price hikes.
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L.B. Foster Co. has supplied 2,600 tons of 36-inch-diameter steel pipe with wall thicknesses between 1.125 and 1.5 inches for use as lateral shoring struts in the excavation of San Francisco’s new Transbay Transit Center.
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The number of drill rigs running in the United States increased by 10 last week, led by Alaska and Oklahoma (each up five), while Canadian drilling activity slipped by one rig compared with the previous week.
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Service center operator Russel Metals Inc.’s foray into the energy business has intensified since the Mississauga, Ontario-based company’s acquisition of Apex Distribution Inc. in November, giving its leaders a better view of what’s happening in the oil patch.
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Nucor-Yamato Steel Co. and Nucor Corp.’s Berkeley, S.C., mill cut their published transaction prices on beam products by $20 per ton ($1 per hundredweight) effective May 2, making the reduction virtually universal among domestic mills. Both mills attributed their moves to "market conditions."
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Steel Dynamics Inc. (SDI) has picked a 20-year company veteran to head its New Millennium Building Systems subsidiary and has also named a former Evraz Inc. North America executive as vice president of its structural and rail division.
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China has until July 31 to implement World Trade Organization (WTO) rulings concerning the imposition of duties on U.S. shipments of grain-oriented flat-rolled electrical steel.
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Imports of oil country tubular goods (OCTG) remain high on the agendas of producers in the United States, with several top executives drawing attention to the issue during first-quarter conference calls in the past week.