Steel Strip

The EU flat products’ market continues to be characterised by supply tightness and rising prices in a climate of relatively flat demand. The availability of competitively priced steel from third countries remains at a low level. Meanwhile, ArcelorMittal announced a further increase on strip mill products of around €50 per tonne for new bookings for [...]

I came across this article in a news release by the Steel Guru. I must confess that I had not come across the SteelBenchmarker before, but it would seem to be a valuable resource for steel traders and buyers. SteelBenchmarker™ is a global steel benchmark pricing system for use by steel industry participants. The products [...]

The Indian Steel industry could be in for another shock with the government now considering banning exports of flat steel products with a view to check rising inflation. "If the prices of flat steel products are not being kept in check, either the export duty could be increased or a ban on exports could be [...]

Automobile makers and construction firms could face another round of cost push from next month. Taking a cue from primary steel or hot-rolled coil (HRC) makers, leading secondary steel producers, including Bhushan Steel and Uttam Galva, are also looking at raising price of cold-rolled coils (CRCs) and galvanised sheets by 15-20% next [...]

Steel maker Nucor Corp. says strong shipments and growing margins lifted its second-quarter profit by 68 percent, beating Wall Street expectations.
Nucor said Thursday it earned $580.8 million, or $1.94 per share, in the quarter ended June 28. That’s up from $344.9 million, or $1.14 per share, a year ago.
Nucor says its sales rose 70 [...]

Nabucco, the European Union’s natural gas pipeline project, intended to reduce the bloc’s dependence on Russian natural gas, has been dealt another setback — and this one could hit European consumers in the wallet.
The companies involved in the project, already plagued by delays in construction and financing, said Tuesday that its cost would grow by [...]

Evraz Group SA, the steelmaker partly owned by Russian billionaire Roman Abramovich, bought a 16 percent stake in Australian iron-ore company Cape Lambert Iron Ore Ltd., potentially derailing a bid to sell the company’s mine to China.
“It is Evraz” that bought the holding, Tony Sage, a director in Perth-based Cape Lambert, said today by [...]

Spiegel online, have conducted an interview with Thyssen-Krupp head Ekkehard Schulz, in which he answers questions regarding the impact of price increases upon their customers.

The head of German steelmaker ThyssenKrupp, 66-year-old Ekkehard Schulz, talks about the sharp rise in steel prices, competition from emerging economies like India, China and Russia, and the prospects for German [...]

Indian steel firms may seek to raise prices when a self-imposed moratorium ends early next month, but the government is likely to oppose any hefty, inflation-fuelling increase.
Tata Steel’s Managing Director B. Muthuraman said on Wednesday Indian steel prices were ruling 15,000-20,000 rupees ($350-$450) a tonne below global rates at a time when rising input costs [...]

I came across the following article from Tim Huber at associated press, at signOnSanDiego.com. Anyone who has followed this blog for  a length of time will know my views on the speed at which the western economies abandoned coal mines in favour of cheap imports. It’s ironic that the industry that abandoned domestic resources should [...]