Steel Strip

There has been very little movement in strip mill product prices since July. However, demand over the holiday period has been slower than normal for the time of year because of the current poor economic climate. This has caused growing concern over the trend for the final quarter. Most companies have sufficient inventories for the [...]

ArcelorMittal , the world’s largest steel producer, is prepared to cut steel output by up to 15% - and in some cases even more - to make sure supply remains in line with weaker demand, the company’s senior executives said Wednesday.
ArcelorMittal’s Chief Executive Lakshmi Mittal said the company was prepared to cut production by [...]

By Paul Gordon and Debarati Roy
Sept. 17 (Bloomberg) — JSW Steel Ltd., India’s third-largest producer, predicted prices and demand for the metal will revive after next month as steelmakers lower production globally.
“Some European companies have already announced production cuts,” Seshagiri Rao, finance director at the Mumbai-based company, said in an interview today. “Also, the [...]

"Off topic", , but it’s good to see someone speaking plainly about the current financial situation and  the role of the bankers in creating it. Reported in full, because it should be read.
Thirty years we’ve had, of unfathomably wealthy bankers and dealers being justified as part of the free market.
So they boasted: "I’ve just [...]

According to China’s National Development & Reform Commission steel prices in the major markets of 30 provinces and cities slid down in August from a month before by 3.31% or climbed up 40.06% from the same period last year to stand at CNY 6056 per tonne.
1. Construction steel trade price averaged CNY 5431 per tonne [...]

A control room at a long-standing steel plant in south suburban Riverdale was badly damaged during a fire Tuesday night.
A fire started about 8:30 p.m. inside a control room at Mittal Steel, 13500 S. Perry Ave., and was contained to the single room, a Riverdale Fire Department firefighter said.
The fire was extinguished about 9:15 p.m.
The [...]

European steelmakers are hopeful that EU regulators will take a tough line on miner BHP Billiton’s proposed $115 billion takeover of Rio Tinto due to competition concerns about iron ore and coal.
Steelmakers, faced with price hikes in iron ore of 65-71 percent this year, are worried that combining Rio and BHP, the world’s second- and [...]

Bloomberg reported that a direct buyer claimed in an antitrust lawsuit that ArcelorMittal, United States Steel Corp and six other producers of the steel for the US market have for three years plotted to fix prices by limiting production. Steel fabricator Standard Iron Works claimed in its complaint filed on September 12th [...]

Ukrainian Journal reported that Ukrainian steel companies reduced daily output of iron ore and steel by about 14% in September in reaction to weaker demand on world markets.
The government is yet to release official steel output statistics, but the comment may be the first indication that weaker steel prices began to affect the key sector [...]

MORE than 1,100 tonnes of molten steel will be used to create two massive castings which will equal the largest ever made in Europe.
Sheffield Forgemasters, the heavy engineering specialist, is casting the components – weighing a staggering 340 tonnes each – for German client SMS Meer. They will be used in some of the world’s [...]