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CHICAGO — Timken Co.’s net income plunged year on year in the first quarter, but the company managed to sustain double-digit operating margins despite low levels of capacity utilization, the company’s top executive said.
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Wire producers Davis Wire Corp. and Insteel Industries Inc. have filed an anti-dumping duty petition with the Commerce Department and the U.S. International Trade Commission alleging that imports of pre-stressed concrete (PC) steel rail tie wire from China, Mexico and Thailand are hurting the domestic market.
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Outokumpu Stainless USA LLC has lowered its surcharges on most stainless steel grades for May.
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Arch Coal Inc. posted a first-quarter net loss of $70 million in contrast to net income of $1.2 million in the same period last year on revenue that fell 20.6 percent to $825.5 million from nearly $1.04 billion.
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A key indicator for nonresidential construction activity was positive for the eighth month in a row in March, signaling a boom for the steel market, even as the rate of growth eased compared with previous months.
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ATI Allegheny Ludlum Corp. says previously announced base price increases on several stainless steel grades are not gaining traction, with other stainless producers reportedly rescinding their own price increases.
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United Steelworkers union members at U.S. Steel Corp.’s Lake Erie plant have rejected the company’s proposed contract, USW Local 8782 said on its website.
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U.S. metallurgical coal exports will remain elevated in 2013 on rising global steel output, Arch Coal Inc.’s top executive said.
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ArcelorMittal USA LLC is involved in a dispute about workplace safety with "a small number of union workers" at its Burns Harbor facility in Indiana, a company spokeswoman told AMM in an e-mail.
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Finalists drawn from the largest, most competitive pool of applicants ever nominated have been announced for AMM’s annual Awards for Steel Excellence.
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China’s plate export market saw little movement this week as steelmakers held the line to avoid further losses.
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U.S. steel imports fell in March, according to the latest U.S. Census Bureau data.
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The U.S. International Trade Commission has scheduled a full five-year review to determine whether revocation of anti-dumping duty orders on hot-rolled steel products from China, India, Indonesia, Taiwan, Thailand and Ukraine and countervailing duty orders on the same product from India, Indonesia and Thailand would likely lead to material injury to the U.S. industry.
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The U.S. economy is improving and there’s no danger of an economic backslide in the coming years, but cash flow and buying confidence have not yet returned to pre-recession levels, economist Clare Zempel told members of the American Wire Producers Association.
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The U.S. Army Corps of Engineers’ daily river gauge report showed the Mississippi River reaching 34.8 feet at St. Louis on April 23, nearly 5 feet above flood stage, with forecasts calling for the river to reach 35.5 feet April 24 before falling again.
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Acerinox SA, parent company of North American Stainless Inc. (NAS), saw a sharp drop in first-quarter earnings due to falling nickel and stainless steel base prices, the company said April 23.
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AK Steel Corp. aims to capture more market share in the automotive sector as the steelmaker continues to shift gears and focus on selling high-end products.
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Steelmaker Steel Dynamics Inc. is making progress toward adding production capacity for both special bar quality (SBQ) and rail products, executives say.
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Domestic producers of concrete reinforcing bar (rebar) will seek to hold imports at bay during the International Trade Commission’s (ITC’s) April 25 review of import duties against China, Indonesia and five Eastern European countries.
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In a preliminary determination, the Canada Border Services Agency (CBSA) has issued dumping margins on imports of galvanized steel wire products from China, Israel and Spain and countervailing duties on product from China.
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The North American market is consuming an increasing share of AK Steel Corp.’s electrical steel products, and that trend is likely to continue if domestic housing starts exceed 1 million units this year as forecast, the company said.
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Triton Systems Inc. and Specialty Materials Inc. are teaming in a collaboration keyed to manufacture fiber-reinforced aluminum (FRA).
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Stainless steel scrap prices have fallen further as London Metal Exchange nickel prices dropped below the $7-per-pound mark, and market participants doubt that demand will improve before the summer.
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AK Steel Corp. posted its seventh consecutive quarterly loss in the first three months of this year, but the steelmaker expects an improvement in spot market pricing to play out later this year.