Steel Strip

Shares of steel producers fell hard Monday after buyers virtually suspended purchases in the expectation that the cost of steel product will fall.
"There’s actually a buyers’ strike at the moment," Soleil analyst Charles Bradford said in a telephone interview.
"Basically what happened is that the price of scrap steel plummeted in late August and early September [...]

The latest MEPS report summary
 
US steel producers have put aside the proposed price increases for the last quarter against a background of weak demand and falling scrap costs. With customers holding back orders some price slippage has been recorded. Prices fell in August and September in Canada and further price erosion can be expected.
China saw [...]

ThyssenKrupp Tallent in Llanelli said that "very significant reductions" in orders from Land Rover and Bentley had forced a review of its operations.
The German owned company said it would now start consultations with unions over the cuts.
The firm specialises in chassis and suspension parts for the automotive industry.
Full story at BBC News
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The Platts reference prices of imported and domestic made hot rolled and cold rolled coil in the US market plunged amid reports of US mill sales reps calling buyers almost non stop seeking October 2008 orders. There has also been a resurgence of low-priced offers from offshore producers, mainly HRC from Russia [...]

SteelBenchmarker reported that the US hot rolled band spot price for September 22nd 2008 dropped by 4.1% to USD 1,076 per tonne, FOB the mill for the fourth consecutive time. The World export HRB price dropped by 6.1% to USD 899 per tonne, FOB the port of export, for the fourth consecutive time. Chinese [...]

Many engineering and smaller manufacturing companies find they need spring steels in smaller quantities, often as little as one strip.
This can be difficult to source, as even the traditional stockholders may require a minimum order of 50 kilos or more.
We have recognised this problem at BSS and we are able to offer both traditional [...]

The outlook for the UK’s manufacturing sector appears to be worsening as the CBI’s monthly Industrial Trends Survey for September showed a sharp deterioration in total order book levels.
“Manufacturers have been hit harder than expected by the economic slowdown with demand falling sharply, and they are not optimistic about the next three months , with [...]

HUNDREDS of jobs are to be axed at a Sheffield stainless steel giant as the credit crunch bites hard in South Yorkshire.
A total of 230 workers are to be made redundant at Outokumpu’s Sheffield Special Strip operation at Meadowhall. The news will come as a bitter blow to workers who were [...]

 
It is reported that Chinese HRC export prices are still on the decrease on drop in both domestic and overseas market.
Domestic prices started to go down again this week. On Shanghai market, commercial 4.75mm to
12mm*1500mm HRC goes at CNY 4880 per tonne down by CNY 170 per tonne from last Friday. That for commodity [...]

The outlook for the UK’s manufacturing sector appears to be worsening as the CBI’s monthly Industrial Trends Survey for September showed a sharp deterioration in total order book levels.
“Manufacturers have been hit harder than expected by the economic slowdown with demand falling sharply, and they are not optimistic about the next three months , with [...]