Archive for October 24th, 2008
Further steel cutbacks by Arcelor?
ArcelorMittal, the world’s largest steel maker, said on Thursday it will shut down its blast furnace number six at Seraing in Belgium until at least the end of February, Belgian media reported.
Public broadcaster RTBF said the move, which comes only eight months after the furnace was reopened, was due to the financial crisis and [...]
Posted: October 24th, 2008 under Manufacturing News, Steel News.
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Worthington Industries to cut nearly 300 jobs
Worthington Industries Inc., a US metal processing company, announced Thursday it will reduce its work force by nearly 300 jobs as it struggles with declines in the automotive and construction industries.
The company said it will cut employment representing less than 4 percent of Worthington’s 8,000 workers, through layoffs and plant closings in Louisville, Ky., and [...]
Posted: October 24th, 2008 under Manufacturing News, Steel News.
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Steel "crisis" in China
Steel producers in China are facing serious financial problems according to The Economic Times
China’s steel industry faces a "cost crisis," as dropping demand for steel drives prices below the cost of raw materials, a senior adviser to the China Iron and Steel Association (CISA) said on Friday. Spot iron ore prices have dropped below term [...]
Posted: October 24th, 2008 under Steel Comment, Steel International, Steel Prices.
Comments: 1