Steel Strip

The world’s largest steelmaker, ArcelorMittal, will slightly cut output in the third quarter and keep prices steady to help contain an “inflated” European market bloated with Chinese imports, the company said Friday. Europe’s steel prices are the world’s highest. This has attracted increasing Chinese trade, raising concern among European steelmakers and EU officials about the [...]

The EU strip market is relatively quiet ahead of the conclusion of price negotiations for third quarter business. Service centres are well stocked until September and are in no rush to settle. Traders are waiting for new offers from Chinese mills following the recent changes in export taxes. EU steelmakers appear to be controlling production [...]

Ford is reportedly close to announcing the sale of luxury British car brands Jaguar and Land Rover.It emerged yesterday in the City that the US carmaker was planning to offload the iconic marques, but Ford has so far maintained its silence on the reports.European car manufacturers Renault and Fiat have already ruled themselves out of [...]

Shares of U.S. Steel Corp., the largest steelmaker based in the U.S., soared the most since November after Interfax said ThyssenKrupp AG is in talks to buy the company.
ThyssenKrupp, based in Dusseldorf, Germany, is interested in buying U.S. Steel or Russia’s OAO Severstal, Interfax said, citing a banker it didn’t identify. Pittsburgh-based U.S. Steel is [...]

The price of major steel products in China rose 7.8 percent in May from the same period last year as demand and production costs both climbed, according to the country’s top economic planning agency.
The steel price averaged 4,255 yuan (557 U.S. dollars) per ton at major markets in 30 provinces, municipalities, and autonomous regions, 3.34 [...]

Thieves who stole more than 200 bars of steel from a South Tyneside engineering company are being sought by police.
The metal, weighing a total of 26 tons and valued at £21,000, was taken from the compound of Simco Engineering on the Simonside Industrial estate.
Each bar weighs 200 kilos, and police say a crane or a [...]

 Anglo-Dutch steel and aluminium company Corus Group said on Monday it will increase its flat rolled steel prices in the UK by between 5-12 percent. Prices for hot dipped galvanised steel will go up by 20 pounds, up by 35 pounds for cold rolled and by 45 pounds for hot rolled steel products, Europe’s third-largest [...]

After snapping up Anglo-Dutch steelmaker Corus Group Plc in February for $11 billion, India Inc’s biggest buyout, the steelmaker has joined the race to acquire Stelco, the last Canadian steel giant that is up for grabs.
If the Tatas pull it off, the Indian steelmaker, which is the fifth largest in the world with a steel-making [...]