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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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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.
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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.
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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.
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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.
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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.
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Canada Steel Service Centre Inc. has been fined Canadian $92,500 ($76,100) for an accident that injured a warehouse worker in April 2007.
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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.
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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.
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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.
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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.
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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.
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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.
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More steel plants are laying off workers as steel order volumes continue to sag.
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More steel plants are laying off workers as steel order volumes continue to sag.
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Sandmeyer Steel Co., Philadelphia, is expanding its sales into Asia.
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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.
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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.
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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.
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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.
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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.
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Western Titanium Inc. has moved to reassure customers that its legal problems won’t affect its ability to do business.
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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.
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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.