Steel Strip

The majority of period two business has now been settled at higher prices than those paid in the first quarter. The initiative was made easier for the EU steelmakers by a decline in the number of attractive third country offers. Nevertheless, large quantities of material, ordered at the end of 2006, continue to arrive, particularly [...]

by Naomi PowellThe Hamilton Spectator(Apr 17, 2007)
What does Algoma have that Stelco doesn’t? With Canadian steelmakers being snapped up, investors are left wondering if Stelco will be next.
“I don’t think the Algoma sale has fundamentally changed the landscape, but it has confirmed Canada as a battlefield in the global acquisition war,” said Joe D’Cruz, a [...]

The United Steelworkers, North America’s largest industrial labor union, is considering a possible merger with Amicus, Britain’s biggest manufacturing union, the USW said Monday.The two unions, which currently have a strategic alliance, are planning to sign an agreement Wednesday during the United Steelworkers 50th National Policy Conference in Ottawa.

Link to STLtoday - Business - Story [...]

Canada’s Algoma Steel is being acquired by a subsidiary of India-based Essar Global Ltd. in a cash buyout valued at $1.85 billion, the latest in a series of takeovers that has put most of the Canadian steel sector in the hands of foreign firms.
Algoma and Essar said in a joint statement yesterday they had signed [...]

Stelco Inc. says it will transfer all its hot strip processing to the recently expanded Lake Erie mill at Nanticoke – a move that will cut more than 300 jobs.
The Hamilton steel maker, which posted a $145 million loss in its last quarter, said the cuts involve employees working at the Hamilton hot strip mill, [...]

Spotted over  at Yahoo Finance is an article by investment specialist Nicholas Vardy, at Global Guru.
Whilst it is written from the point of view of an investment analyst, it makes interesting reading for anyone in our industry on likely future development.
Excerpt
One hundred years ago, steel was the IT industry of its day — a cutting [...]

THE head of India’s Tata Steel took a philosophical approach yesterday when asked about the future of Wales’ 7,900 steelworkers.
Mr B Muthuraman, managing director of Tata Steel, which has just paid £6.2bn for Anglo-Dutch steelmakers Corus, answered, “I am not a soothsayer… neither am I a futurist.”
The “reverse colonialism” acquisition by centenary-celebrating Tata Steel of [...]

The European Union has told China that it will face a growing threat of trade penalties unless it curbs breakneck capacity expansion in steel and shipbuilding, EU diplomats said on Tuesday.
The diplomats, who declined to be identified, said EU Industry Commissioner Guenter Verheugen had delivered the warning during a round of high-level meetings in Beijing.
They [...]

 The creation of the world’s fifth-largest steel producer was completed yesterday after court approval of Indian giant Tata’s £6.2bn acquisition of Anglo-Dutch company Corus. The 608p a share deal was approved by the High Court a month after Corus shareholders voted overwhelmingly in favour of the sale of the former British Steel firm to Tata [...]

Indian Steel Prices were increased from the 1st of April by RS 500-1000.
international steel prices are exepected to rise by $30 to $50  during the month. With China curbing exports and Russia becoming a net importer, prices could hit an all time high this year.
 
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