Steel Strip

UK manufacturing employment has hit its lowest level since 1841, according to a government survey released late Thursday.
The November Labor Market Report from the Office for National Statistics noted that the manufacturing employment levels were the same as the time period when the country’s main sectors included coal mining, shipbuilding, textiles, iron and steel.
A total of [...]

A plan by Arcelor Mittal to sell Canadian steel producer Dofasco to ThyssenKrupp of Germany has hit a stumbling block, the world’s biggest steel group has said.
“Arcelor Mittal has been informed that the directors of the Strategic Steel Stichting, the Dutch foundation that holds the shares of Dofasco, decided on November 10 not to dissolve [...]

MIDLAND manufacturers could be driven out of business by government plans to tackle climate change, an MP warned.
Adrian Bailey (Lab, West Bromwich West) said the steel and foundry industry in his constituency could suffer if extra costs were imposed.
Jobs would be lost to manufacturers overseas where costs were cheaper, he warned.
But there were also opportunities [...]

Some European steel prices are now quite markedly starting to dip. Stock-building is reaching the end of its current run, and inventory liquidation will no doubt follow. Some producers are restraining their output to avoid excess supply coming onto the market and depressing prices further.
But the market is being influenced increasingly by other factors – [...]

Stelco is warning that it won’t meet its targets for production, revenues or earnings because the steel market has weakened considerably in the past few months.
“As the third quarter was ending, we realized the market was softening much more than expected,” Stelco CEO Rodney Mott said during a conference call with analysts Friday.
Mott said demand for [...]