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Archive for April 7th, 2008

Russian billionaires bet big on U.S. steel market

Russia’s steel elite, with cash to burn from record profits, has accumulated almost 10 percent of U.S. steelmaking capacity as it bets big that demand in the world’s largest economy will ride out a global credit crunch.
Billionaires who built their fortune on Soviet-era steel giants have spent nearly $9 billion in the last few years [...]

Mills and buyers disagree on future of stainless steel prices

I found the following article over at Purchasing.com
There is considerable debate about the future direction of stainless steel flat-rolled in the U.S. market. AK Steel this week says it plans to increase transaction prices for stainless steel sheet, strip and continuous mill plate products by adjusting the functional discount rate, which will equate to an [...]

BHP Rio Tinto demand 200 per cent rise in coking coal price.

To add to the continuing cost pressure on steel prices, coke prices are escalating rapidly in Asia:-
BHP Billiton and Rio Tinto are to deliver a crippling blow to Asian steel firms this week by demanding a 200 per cent increase in coking coal prices that their customers will have no choice but to accept.
Sources [...]