Steel Strip

Farm Equipment Manufacturers Association (FEMA) reports: Kiplinger.com reports that the largest steel users can expect to pay as much as $1,200 a ton for hot-rolled steel, and $1,300 for cold-rolled by July. This is about double the cost since the first of the year. Small companies can expect to pay an additional [...]

Steel prices have soared almost 50 percent this year and could rise even higher as the cost of raw materials keeps climbing and global demand shows little sign of abating.
Steel makers have been steadily raising prices to benefit from a strong market after years of decline in the industry and also to pass along to [...]

CHICAGO (Reuters) - U.S. manufacturers, which had shrugged off the domestic economic downturn and reported consistently strong profits thanks to overseas demand, are starting to look vulnerable as the price of key materials like steel continue to rise.
Global steel prices are up 40 percent since the beginning of the year and the pressure is showing [...]

ArcelorMittal has come out with an upbeat projection for the steel industry for the rest of the year, after reporting a 5.4 per cent rise in net income in the first quarter.
Lakshmi Mittal, chief executive of ArcelorMittal, the world’s biggest steelmaker, said: "I am confident the steel industry will this year largely avoid the economic [...]

Continuing a string of deals and expansions announced this week, Charlotte-based Nucor Corp. said Thursday that it’s looking to build a new $2 billion steel plant in Louisiana.
The plant, which would be located in St. James Parish, La., 30 miles west of New Orleans, would create about 2,600 jobs and be a state-of-the-art iron-making facility, [...]

Rautaruukki Oyj said ongoing strike action by around 200 workers at its Raahe steel plant is disrupting hot-rolling production at the site.
Sakari Kallo, Rautaruukki production manager, told Thomson Financial News that the company has been informed that staff will return to their posts on Friday morning.
Around 800 people at Raahe had staged a 24-hour strike [...]

We reported yesterday that ArcelorMittal had announced a price increase of around 20%. We are now hearing "unofficially" that Corus are set to announce a further price increase on steel strip of between £150 and £205 per tonne for the third quarter.
It seems inevitable that the last large European player will "follow" suit. Expect an [...]

Toyota Motor Corp has agreed to pay Nippon Steel Corp and other top Japanese steelmakers over 30 percent more for sheet steel, the Asahi Shimbun daily reported, triggering a rally in steel stocks.
Such a price hike, which is in line with brokerages’ estimates, would boost the prospects that Nippon Steel, the world’s second-biggest steelmaker, will [...]

In view of profits rising by a mere 16% in the first quarter of this year ArcelorMittal have acted quickly to ensure better results for the second half of the year!
ArcelorMittal said it is raising prices on flat carbon steel products for new orders with scheduled deliveries in July and August, and that it is [...]

Europe’s two leading steel groups today shrugged off the impact of soaring commodity prices and the west’s economic slowdown, with ArcelorMittal posting a 16% leap in first-quarter pre-tax profits to $5bn (£2.57bn) and ThyssenKrupp a jump from €572m (£453m) to €742m.
ArcelorMittal, the world’s biggest steelmaker, said it was benefiting from a "healthy pricing benefit" as [...]