Steel RSS

  • Steelcase expects net loss despite lower 4th-qtr. prices Dec 24, 2008

    Steelcase Inc. expects to benefit from lower commodity spot prices in its fiscal fourth quarter but is projecting a net loss due to lower demand.

  • NW Pipe in line for $7M contract Dec 24, 2008

    Northwest Pipe Co. is in line to supply about $7 million of large-diameter pipe for a Mexican hydroelectric plant.

  • TK puts off response on mill’s FTZ status Dec 23, 2008

    The steel industry will have to wait until the New Year to find out how ThyssenKrupp Steel & Stainless USA LLC will respond to competitors who are attempting to thwart the company’s request for foreign trade zone (FTZ) status for its new mill in Calvert, Ala.

  • US steel imports fall 28.1% in November Dec 23, 2008

    U.S. steel imports tumbled a whopping 28.1 percent in November from the previous month, a change expected by many industry experts and analysts given current economic conditions.

  • Strike ends at Thomas Steel; workers ratify 5-year contract Dec 23, 2008

    Workers at Thomas Steel Strip Corp., Warren, Ohio, ended their strike Monday with a 182-49 ratification vote in favor of a new five-year collective bargaining agreement.

  • China begins buying metal in rescue bid Dec 23, 2008

    China’s State Reserve Bureau (SRB) has purchased aluminum from state-owned producer Aluminum Corp. of China Ltd. (Chalco), marking the government’s first move to prop up the ailing market, according to market speculation.

  • Gerdau Macsteel cuts 75% of work force at Jackson SBQ plant Dec 23, 2008

    Gerdau Macsteel, a manufacturer of special bar quality (SBQ) products in Jackson, Mich., sent out Worker Adjustment and Retraining Notification (WARN) notices Monday to salaried and hourly employees of a plant shutdown and layoff that will go on indefinitely.

  • Ivaco workers ratify three-year contract Dec 23, 2008

    Workers have ratified a new three-year labor agreement with Ivaco Rolling Mills Inc., a wire rod producer in L’Orignal, Ontario.

  • Strike ends at Thomas Steel; workers ratify 5-year contract Dec 23, 2008

    Workers at Thomas Steel Strip Corp., Warren, Ohio, ended their strike Monday with a 182-49 ratification vote in favor of a new five-year collective bargaining agreement.

  • W. Coast flat-roll buyers still wary of committing Dec 23, 2008

    West Coast flat-rolled steel buyers aren’t showing much enthusiasm for 2009.

  • Gerdau Macsteel cuts 75% of work force at Jackson SBQ plant Dec 23, 2008

    Gerdau Macsteel, a manufacturer of special bar quality (SBQ) products in Jackson, Mich., sent out Worker Adjustment and Retraining Notification (WARN) notices Monday to salaried and hourly employees of a plant shutdown and layoff that will go on indefinitely.

  • West Coast flat-rolled buyers still hesitant to commit Dec 23, 2008

    West Coast flat-rolled steel buyers aren’t showing much enthusiasm for 2009.

  • US, Canadian drilling slows Dec 23, 2008

    The number of drill rigs running in the United States fell by 26 last week, with the largest decrease in Wyoming (down seven), while Canadian drilling activity fell by 21 rigs.

  • US raw steel production tumbles 12.5% Dec 23, 2008

    U.S. raw steel output logged its 18th consecutive drop last week, falling 12.5 percent to 1,022,000 tons from 1,168,000 tons the previous week as mills operated at an average capability utilization rate of 42.9 percent.

  • Ivaco workers ratify three-year contract Dec 23, 2008

    Workers have ratified a new three-year labor agreement with Ivaco Rolling Mills Inc., a wire rod producer in L’Orignal, Ontario.

  • Port workers’ contract talks head to the wire Dec 23, 2008

    Talks between the International Longshore and Warehouse Union (ILWU) and the British Columbia Maritime Employers’ Association, which operates the various ports in the province, are scheduled to continue Monday, only a few days before a threatened strike.

  • CN orders 40 diesel locomotives Dec 23, 2008

    Canadian National Railway Co. (CN) has ordered 40 new high-horsepower locomotives from Electro-Motive Diesel Inc. LaGrange, Ill., with an option for 50 more, the Montreal-based company said.

  • US raw steel production tumbles 12.5% Dec 23, 2008

    U.S. raw steel output logged its 18th consecutive drop last week, falling 12.5 percent to 1,022,000 tons from 1,168,000 tons the previous week as mills operated at an average capability utilization rate of 42.9 percent.

  • US, Canadian drilling slows Dec 23, 2008

    The number of drill rigs running in the United States totaled 1,764 last week, down 26 rigs (1.5 percent) from the previous week, while Canadian drilling activity fell to 369 rigs, down 5.4 percent (21 rigs) in the same comparison.

  • Auto suppliers announce job cuts, plant shutdowns Dec 22, 2008

    Auto suppliers had a lot of bad news last Friday—and a few of them chose to send it out in the waning minutes of the business day.

  • Siemens to pay $1.3B in fines Dec 22, 2008

    Siemens AG agreed this week to pay more than $1.3 billion in fines in Germany and the United States to settle corruption charges.

  • Deutsche Bank revises steel outlook Dec 22, 2008

    Deutsche Bank Equity Research analyst David S. Martin is revising forecasts for steel for the fourth quarter of this year and for 2009 downward based on the belief that global GDP will expand at a significantly slower rate and steel will be in surplus for much of next year.

  • Deutsche Bank revises steel outlook Dec 22, 2008

    Deutsche Bank Equity Research analyst David S. Martin is revising forecasts for steel for the fourth quarter of this year and for 2009 downward based on the belief that global GDP will expand at a significantly slower rate and steel will be in surplus for much of next year.

  • Bottom seen in flat-roll, but long road ahead Dec 22, 2008

    Carbon flat-rolled steel buyers believe the bottom of the market has been reached, but still see a long, slow winter ahead with few signs of upward price movement.

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