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Archive for March, 2008

France fights to keep ArcelorMittal steel jobs

France will do all it can to save jobs at a threatened ArcelorMittal  steel plant and partners may be interested in keeping it open, Economy Minister Christine Lagarde said on Sunday.
"Our main aim is to maintain employment to ensure people keep their jobs. There could be some partners interested," Lagarde said on France Inter radio.
Plans [...]

View from China say steel prices to stay high this year

BEIJING, March 31 (Xinhua) — China’s steel prices will continue to stay high this year, pushed up by booming demand and rising costs, say domestic industry experts.
    Steel prices still had room to expand, and the per-ton price would break the 1,000-U.S.-dollar threshold in the near future, Monday’s China Securities Journal quoted Zhou Xizeng, [...]

Steel price rise hits industry

I spotted the following report in The Hindu, but it struck me as being symptomatic of problems being faced, or likely to be faced by small manufacturers around the world:
Small enterprise units in this industrial town have curtailed production by over 40 per cent following increase in steel prices. In the last four months, prices [...]

Steel Prices driven up by rising input costs, not demand

MEPS Report
US mill transaction prices continue their positive trend. They are being driven by escalating input costs and higher energy and transport charges, rather than any improvement in real consumption. Indeed, demand from a number of major end-user sectors is lacklustre and a good proportion of mill order books are taken up by service centres [...]

Severstal, plan to Boost Sparrows Point steel output

Russian steelmaker OAO Severstal said yesterday that its acquisition of the Sparrows Point complex could close as early as mid-May and that it plans to rapidly ramp up production at the Baltimore County steel plant. Severstal plans to bring plant production up to full capacity of 3.6 million tons a year, company [...]

Small quantities of spring steel strip.

BSS Steel Strip has recognised the demand from small engineering, fabricating and laser cutting companies for small quantities of spring steel.
To serve this market we are able to offer a range of spring steels from 0.05mm (.002") to 3.25mm (0.128") in the hardened or annealed condition, suitable for blanking, drilling, laser cutting etc.
We recognise [...]

Severstal Buys U.S. Mill for $810 Million

Severstal, Russias largest steel maker, will expand its U.S. presence with the $810 million acquisition of the Sparrows Point mill in Maryland, which ArcelorMittal is selling for antitrust reasons.
Severstal said Friday that it expected to close the all-cash deal to buy the former Bethlehem Steel unit in the 2008 second quarter. The additional capacity [...]

Steel Shares Rise

NEW YORK — Shares of steel companies climbed Monday, amid announced and predicted price hikes that reflect both tightening supply and increasing demand for the commodity.
AK Steel Holding Corp. said it will increase spot market prices for its carbon steel products by $50 per ton for all new orders, effective immediately.
The company said that the [...]

UAE steel prices surge by 12% in 3 weeks

 
Reuters reported that rear prices in the United Arab Emirates have risen at least 12% in the last three weeks as demand from construction contractors has increased and supply has tightened. The report cited a trader as saying that a tonne of rebar fetched around USD 970 this week as compared to [...]

Steel Price News, from MEPS

EU AVERAGE STEEL PRICES UP 15/18 PERCENT FOR SHEET PRODUCERS IN MARCH
Flat product prices have been substantially affected by the tremendous raw material cost escalations announced in recent times. Price demands from domestic producers shot up in the last few weeks. ArcelorMittal tabled a further €40 per tonne hike for [...]