Steel Strip

European steelmakers are braced for a first quarter that they expect to be even tougher than the end of last year, with demand still slack in Europe despite signs it might be picking up elsewhere.
Steelmakers around the world have slashed production, cut jobs and shelved expansion projects as key customers in the automotive, appliance and [...]

Following report is from MEPS
MEPS (INTERNATIONAL) LTD. is a leading independent supplier of steel market information. Our regular monitoring of steel markets provides us with a unique insight of consumption and production trends worldwide.

Market sentiment remains depressed. The slightly more positive attitude witnessed at the start of 2009 has evaporated a month later. Producers [...]

It is reported that Britain’s rail industry has delivered a double boost for the recession hit Corus steelworks in Scunthorpe and its 4,500 employees. Its full steam ahead for the town’s new GBP 130 million rail service centre after Network Rail announced a bumper order. Ms Rachel Lowe spokeswoman of Network Rail [...]

Troubled US carmaker Chrysler has asked for another $5bn (£3.5bn) from the US government, saying it plans to axe 3,000 jobs and cut three car models.
The moves form part of its restructuring plan submitted to the Treasury Department on Tuesday.
Meanwhile General Motors has said it would try to borrow up to $16.6bn more from [...]

Today Alistair Darling announced that an agreement had been reached with Royal Bank of Scotland to restrict bonuses to the minimum "within it’s legal obligations".
I’m with Ken Clarke. Don’t pay a penny in bonuses to a failed bank that has been rescued to the tune of Billions by the countries taxpayers.
If they want to sue [...]