Steel

  • 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.

  • Analyst cuts CMC earnings outlook on construction ills Dec 22, 2008

    Any benefit Commercial Metals Co. (CMC) may derive from Barack Obama’s proposed infrastructure spending package may be offset by the continued downturn in non-residential construction, according to Morgan Stanley research analyst Mark Liinimaa.

  • SSAB spending $11M on R&D lab in Iowa Dec 22, 2008

    Swedish steelmaker Svenskt Stal AB (SSAB) plans to invest about $11 million to build a new research laboratory adjacent to its steel plate mill in Muscatine, Iowa. The new lab will replace a research facility that was sold earlier this year when SSAB divested its tubular operations.

  • SSAB spending $11M on R&D lab in Iowa Dec 22, 2008

    Swedish steelmaker Svenskt Stal AB (SSAB) plans to invest about $11 million to build a new research laboratory adjacent to its steel plate mill in Muscatine, Iowa. The new lab will replace a research facility that was sold earlier this year when SSAB divested its tubular operations.

  • Analyst predicting net loss for Worthington next quarter Dec 22, 2008

    Goldman Sachs Group Inc. expects Worthington Industries Inc. to post a loss of 9 cents per share in its fiscal third quarter, in sharp contrast to a previous estimate of a 28-cent-per-share profit, due to expected losses in both the steel processing and metal framing businesses.

  • Fabricator network planning to open distribution center Dec 22, 2008

    Steel Plus Network, a structural steel fabricator group based in Laval, Quebec, has begun site development for a new steel distribution center near Columbia City, Ind.

  • Canadian steel distributor fined for worker accident Dec 22, 2008

    Canada Steel Service Centre Inc. has been fined Canadian $92,500 ($76,100) for an accident that injured a warehouse worker in April 2007.

  • Worthington’s auto risk slims in ‘scorched’ mart Dec 19, 2008

    Until the depth and breadth of the economic slump gains some clarity, Worthington Industries Inc.’s leaders “will continue to operate under the assumption that the economy will continue to weaken and that it will be an extended period of time before it begins to recover,” said John P. McConnell, the company’s chairman and chief executive officer.

  • Welded Tube earmarks $61.8M to boost presence in OCTG sector Dec 19, 2008

    Energy tubular products maker Welded Tube of Canada Ltd. will spend Canadian $75 million ($61.8 million) to expand its oil country tubular goods (OCTG) market presence.

  • Welded Tube earmarks $61.8M to boost presence in OCTG sector Dec 19, 2008

    Energy tubular products maker Welded Tube of Canada Ltd. will spend Canadian $75 million ($61.8 million) to expand its oil country tubular goods (OCTG) market presence.

  • Schuff gets steel fabrication contracts for two refineries Dec 19, 2008

    The energy sector has been a bright spot this year for Schuff Steel-Gulf Coast Inc., a steel fabricator that said Friday it is fabricating 25,400 tons of structural steel for a refinery plant in Whiting, Ind., and a refinery complex in Pascagoula, Miss.

  • Usiminas ups distribution market share to 23% Dec 19, 2008

    After snatching up Brazil’s largest independent steel distributor for 160 million reais ($68 million), Usinas Siderurgicas de Minas Gerais SA (Usiminas) will command a 23-percent share of the country’s steel distribution segment, up from 15 percent previously, Paulo Penido Pinto Marques, the company’s chief financial officer, said during a conference call.

  • Fortescue sued for $132.5M in shipping contract dispute Dec 19, 2008

    Shipping companies Splendour Special Maritime Enterprise and Armada (Singapore) Pte are suing Australia’s Fortescue Metals Group Ltd., alleging the iron ore miner broke contracts and canceled shipments, according to separate complaints filed in U.S. federal court in New York.

  • Layoffs mount as WCI, others face order sag Dec 19, 2008

    More steel plants are laying off workers as steel order volumes continue to sag.

  • Steel layoffs grow as WCI, others cope with order sag Dec 19, 2008

    More steel plants are laying off workers as steel order volumes continue to sag.

  • Sandmeyer growing Asia sales Dec 19, 2008

    Sandmeyer Steel Co., Philadelphia, is expanding its sales into Asia.

  • Schuff gets steel fabrication contracts for two refineries Dec 19, 2008

    The energy sector has been a bright spot this year for Schuff Steel-Gulf Coast Inc., a steel fabricator that said Friday it is fabricating 25,400 tons of structural steel for a refinery plant in Whiting, Ind., and a refinery complex in Pascagoula, Miss.

  • Worthington selling stake in Aegis venture for $25M Dec 19, 2008

    Worthington Industries Inc.’s Dietrich Metal Framing subsidiary has signed an agreement to sell its share of Aegis Metal Framing LLC for approximately $25 million.

  • Industry makes call for fair trade as ITC pipe vote due Dec 19, 2008

    With the U.S. International Trade Commission (ITC) due to issue a countervailing duty decision on steel pipe from China on Monday, industry leaders are stressing the need for fair trade rules to be enforced.

  • TK mill FTZ status plea ignites US industry’s ire Dec 18, 2008

    ThyssenKrupp Steel & Stainless USA LLC’s request that its new Alabama mill receive foreign trade zone (FTZ) status from the U.S. Department of Commerce has several carbon and stainless steel industry players balking.

  • Worthington posts $159.5M loss on lower demand, tags Dec 18, 2008

    A decline in demand, particularly in the construction market, and a fall-off in steel prices were responsible for Worthington Industries Inc. falling into the red in its fiscal second quarter.

  • Fraud charges won’t hit business Western Ti Dec 18, 2008

    Western Titanium Inc. has moved to reassure customers that its legal problems won’t affect its ability to do business.

  • Worthington posts $159.5M loss on lower demand, prices Dec 18, 2008

    A decline in demand, particularly in the construction market, and a fall-off in steel prices were responsible for Worthington Industries Inc. falling into the red in its fiscal second quarter.

  • Fortescue sued for more than $130M over canceled contracts Dec 18, 2008

    Shipping companies Splendour Special Maritime Enterprise and Armada (Singapore) Pte are suing Australia’s Fortescue Metals Group Ltd. (FMG), alleging the iron ore miner broke contracts and canceled shipments, according to separate complaints filed in a U.S. federal court in New York.

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