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The North American structural steel market is bracing for a new player whose presence seems sure to influence this industry’s future course, as ArcelorMittal SA looks to build its first beam mill in Canada.
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The North American structural steel market is bracing for a new player whose presence seems sure to influence this industry’s future course, as ArcelorMittal SA looks to build its first beam mill in Canada.
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Fitch Ratings Inc., New York, expects further consolidation in the global steel industry in 2008 as producers seek to diversify geographically, rationalize production and gain additional access to raw materials.
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Highlighting the drive toward service center consolidation, O’Neal Steel Inc., Birmingham, Ala., has merged two Ohio service centers it acquired in 2006, with the combined operation now known as United Performance Metals.
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Fitch Ratings Inc., New York, expects further consolidation in the global steel industry in 2008 as producers seek to diversify geographically, rationalize production and gain additional access to raw materials.
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PNA Group Inc. has expanded its holdings in the Gulf Coast market with the acquisition of plate specialist Precision Flamecutting & Steel LLP.
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Chinese steel exports, including semi-finished steel, are expected to fall 20 million tonnes in 2008, continuing a downward trend seen through the fourth quarter, according to Wu Xichun, former chairman of the China Iron and Steel Association (Cisa).
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An expanded North American presence for Australia’s BlueScope Steel Ltd. would provide a strong platform for growth, a top executive at the Australian company’s Butler Manufacturing Co. subsidiary said in an interview with AMM.
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An expanded North American presence for Australia’s BlueScope Steel Ltd. would provide a strong platform for growth, a top executive at the Australian company’s Butler Manufacturing Co. subsidiary said in an interview with AMM.
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Toyota Motor Corp., Japan’s largest automaker, appears poised to unseat General Motors Corp. as the world’s biggest-selling automaker in what could be another big hit to the brand image of the U.S. auto industry.
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Algoma Steel Inc., Sault Ste. Marie, Ontario, made a Canadian $130-million ($132.9-million) prepayment to UBS AG Dec. 28 under its term loan agreement.
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West Coast producers of flat-rolled steel that pushed through $20- to $40-a-ton price hikes for January now appear likely to roll next month's prices into February, according to market sources.
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Spot prices for oil country tubular goods (OCTG) resumed their slide in December after largely holding steady the prior month, surprising some industry observers who had expected higher prices in the wake of lower imports in November and mill price hikes.
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U.S. steel imports totaled 2.1 million tonnes in November, down 17.8 percent from October and off 33.3 percent from November 2006, according to preliminary data released Thursday by the U.S. Census Bureau.
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Chinese steel exporters expressed relief that the government’s latest steel export tax revisions were broadly in line with market expectations, but said some smaller producers could be hit hard by the changes.
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Toyota Motor Corp., Japan’s largest automaker, appears poised to unseat General Motor Corp. as the world’s biggest-selling automaker in what could be another big hit to the brand image of the U.S. auto industry.
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Auto parts supplier Federal-Mogul Corp. was expected to emerge from Chapter 11 bankruptcy protection Thursday after a six-year reorganization process.
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The fate of up to four top executives of SeverCorr LLC, Columbus, Miss., could be known within a week as negotiations to resolve a management shakeup continue, sources said.
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The outlook for the U.S. steel industry is relatively stable for 2008, but rising raw material costs and the spreading U.S. housing crisis cloud the horizon somewhat, according to a recent report by Moody’s Investors Service Inc.
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The outlook for the U.S. steel industry is relatively stable for 2008, but rising raw material costs and the spreading U.S. housing crisis cloud the horizon somewhat, according to a recent report by Moody’s Investors Service Inc.
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U.S. steel imports totaled 2.1 million tonnes in November, down 18 percent from October and off 33 percent from November 2006, according to preliminary data released Thursday by the U.S. Census Bureau.
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WCI Steel Inc., Warren, Ohio, has entered into an agreement to modify its $150-million credit facility with Harbinger Capital Partners Master Fund I, replacing WCI’s current bank group headed by Citigroup Inc. and including several other banks.
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The New Year appears set to herald a bang for SeverCorr LLC, Columbus, Miss., with ongoing negotiations that will likely result in management changes due to be finalized shortly after Jan. 1, according to industry sources.
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Sandvik AB, Sandviken, Sweden, has completed its contract business, with price increases implemented in November now fully accepted by customers.