Steel Strip

 
The global stainless steel scene is changing rapidly. Customer backlash against the rising cost of nickel has been taken on board by the producers. Mills are now taking seriously market demand for low or non nickel grades.
Posco has launched a nickel free stainless steel into its portfolio. This follows similar actions earlier by Japanese producers. [...]

The MEPS Asian Average Hot Rolled Coil price moved up again in May. This was in line with our expectations last month. In the short term we still see a possibility for further price strengthening as Chinese export prices move higher, due to the new export levy. However, figures are expected to reduce from the [...]

21 May 2007, Monday
Beginning from June 1st 2007, China government will slap export duties of 5% to 10% on over 80 steel products lately brought under export license regime, following its latest string of policy moves to tame the rampant exports of the material. The moves are aimed at containing exports of high energy consuming [...]

Flat product prices are generally stable this month, whilst producers are mulling some further rises for the July/September period. However, buyers are anticipating little change in the second half of the year. Third country price offers continue to stay at higher levels than those quoted at the start of 2007.
Demand is still good in Germany [...]

Steelmaker ThyssenKrupp AG said Friday it will build a new $4.19 billion steel plant in Alabama, which has attracted other German companies including DaimlerChrysler AG in recent years.
The plant — scheduled to open in 2010 and employ as many as 2,700 workers when fully operational — will be near Mobile. The company was lured by [...]

 
Shares of Ohio-based AK Steel Holding Corp. leaped to $39 Tuesday after the Financial Times’s Alphaville website reported that Arcelor Mittal, the world’s largest steelmaker, was considering buying the company. The Wall Street Journal says a Mittal bid is unlikely, however, since the combination would ring antitrust bells in the U.S., particularly with regard to [...]

Louisiana and Alabama have been competeing for some time now to woo German Steelmaker ThyssenKrupp for a major new steel investment.

 
“German steel-maker ThyssenKrupp said Monday that it will pick a winner by midmorning Friday for what is billed as one of the largest industrial projects in U.S. history.
The company issued a brief statement Monday in [...]

The psychology of the hot-rolled coil spot market may be turning in favor of steel buyers as there are signs that prices in the US are feeling some downside pressure. Several deals reported to Platts late Wednesday and Thursday reflected that the price of HRC was off at least $10/st to a range of $550-560/st, [...]

The city of Ostrava, north Moravia, is preparing to sue the Czech Republic’s largest steel producer, Mittal Steel Ostrava (MSO), over 114,650 shares the city sold back to the company in 2004.
If filed, the suit will be the third in a series of lawsuits brought against MSO by its former minor stockholders, who say MSO [...]

Swedens’ SSAB has announced that it has made a formal bid for Canadian Steelmaker Ipsco.
The following announcement is from Ipsco’s website:-
LISLE, Ill., and STOCKHOLM, Sweden, May 3 /PRNewswire-FirstCall/ — IPSCO Inc. (NYSE/TSX: IPS) and SSAB Svenskt Stal AB (STO: SSAB.A, SSAB.B) today announced that they have entered into an agreement providing for IPSCO to be [...]