Archive for March, 2009
Steelmaker idling Georgetown mill
For the second time since December, the former Georgetown Steel mill is being temporarily shut down because of falling orders. The move is expected to affect about 240 workers.
The plant’s owner, global steelmaking titan Arcelor Mittal, warned when it released earnings last month that it would continue to maintain its 45 percent cut in [...]
Posted: March 5th, 2009 under Steel, Steel International, Steel News.
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German 2009 steel output headed for 16-year low
German steel output is set to fall below 40 million tonnes this year for the first time since 1993, when an economic downswing hammered Europe’s biggest economy, the German Steel Federation said.
The second half of this year could see the start of a slight recovery in the market overall, the federation’s President Hans Juergen Kerkhoff [...]
Posted: March 5th, 2009 under Steel, Steel International, Steel News.
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No relief this year for depressed EU steel
Europe’s steel market is enduring the weakest demand in decades and will remain depressed all of this year as there are no signs of an upturn in the construction and automotive sectors, the key consumers.
Steel output in the European Union (EU) tumbled almost 46 percent year-on-year in January as companies ran down massive stocks and [...]
Posted: March 4th, 2009 under Steel, Steel Comment.
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Vauxhall Ellesmere Port may close without Government help, say owners General Motors
from the Liverpoolecho , article by Neil Hodgson
VAUXHALL’S Ellesmere Port plant could be closed down if its parent company General Motors does not get Government support, the company warned today.
GM Europe president Carl-Peter Forster, speaking at the Geneva Motor Show, said the slump in car sales meant the company would be left with little [...]
Posted: March 3rd, 2009 under Manufacturing News, Off Topic.
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EU AVERAGE CARBON STEEL PRICES - LATEST FORECASTS FROM MEPS
Latest MEPS report
With the economic crisis deepening, we forecast a further steel price reduction for the flat products sector in the short term. Customers are expected to continue de-stocking as demand during the first half of 2009 is likely to remain low. This could be exacerbated by potential problems with bank borrowings, delayed payments and [...]
Posted: March 2nd, 2009 under Steel International, Steel Prices.
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Factory downturn ‘accelerating
The downturn in UK manufacturing has accelerated and could lead to 140,000 job cuts in the sector this year, according to a survey.
Engineering and manufacturing body the EEF, which surveyed 782 firms, said production and orders had hit record lows in the first two months of 2009.
The group forecast that manufacturing output would fall [...]
Posted: March 2nd, 2009 under Manufacturing News.
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