Steel Strip

Transaction values for flat products in Canada continued to edge downwards during July. Demand is weak, with buyers reluctant to commit to forward orders as they concentrate on reducing stock levels. The continuing strength of the Canadian dollar is also impacting badly on pricing as US mills are actively selling across the border at competitive [...]

ArcelorMittal, the world’s largest steelmaker, said Thursday it would pay US$157 million (€114 million) to buy the Polish government’s 25.2 percent stake in its Polish steel unit and take full control of the company.
Mittal Steel Co. NV — which is taking over Arcelor SA to form ArcelorMittal — bought 69 percent of Polskie Huty Stali [...]

 
American Iron and Steel Institute reported that in the month of May 2007, US steel mills shipped 9.087 million tons of steel down by 8.2% YoY as against 9.895 million tons shipped in May 2006 and also down by 2.6% MoM from the 8.849 million tons shipped in April 2007.US’s adjusted YoY comparison of YTD [...]

- 27 Jul 2007
Mr LN Mittal president & CEO of ArcelorMittal reaffirmed his commitment to set up a 12 million tonne steel project in Orissa during his recent visit of the state.Mr Mittal after holding discussion with Mr Naveen Patnaik chief minister of Orissa told media that “We have made a detailed review of the [...]

 
Difficult market conditions were said to be behind the loss of nearly 100 jobs at Llanelli’s Corus Steelworks last week.

Job worries and Llanelli seem to have gone hand in hand over the past few decades. A list of shattering closures and layoffs at the town’s once-great employers trip off the tongue with disturbing ease. [...]

An argument seems to have broken out in India, over the current “scarcity” of steel. The steel manufacturers are claiming that there is in fact a supply glut, whulist the Cold Rolled Steel Manufacturers Association have accused the big boys of jacking up prices.
 
Make of it what you will, the story is Here in the [...]

 
Stelco Inc. has posted more losses but the steel giant says its performance continues to improve.
Hamilton-based Stelco reported yesterday that its net loss in the second quarter climbed to $41 million from $31 million in the same three months last year.
It marked the fifth-consecutive quarter that the company has spilled red ink since emerging from [...]

AK Steel is completing repayment of $450 million in debt by redeeming $150 million in senior notes.
The Middletown-based manufacturer announced Tuesday it would finish paying off the senior notes due by February 2009. The company previously redeemed $225 in senior notes in March and $75 million in May.
 
The redemption is funded through AK Steel’s cash [...]

Steel production in Turkey jumped 13.5 percent in the first quarter of 2007, reaching 6.1 million tons, making the country the world’s 11-largest producer of natural steel.
The world’s natural steel (steel made by the direct refining of cast iron) production was 288.6 million tons in last year’s first quarter. It grew 10.3 percent in 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 [...]