Archive for June, 2009
China Iron Ore deadline June 30th
SYDNEY (Reuters) – Rio Tinto (RIO.AX), the world number-two iron ore miner, is still in talks with Chinese steel mills over iron ore prices, the firm said on Monday, dousing speculation that both sides had given up on a June 30 deadline. Iron ore miners and their Chinese customers have until Tuesday to reach a [...]
WF Beams, ASTM A572-Grade 50 and A-36
GRADE SIZE LBS/FT LENGTH PIECES WEIGHT NT A572 G50 6 9 20 42 3.75 A572 G50 8 10 20 172 17.20 A572 G50 8 21 40 2 .85 A572 G50 8 31 40 8 4.92 A572 G50 8 40 40 7 5.60 A572 G50 10 19 40 10 3.80 A572 G50 12 22 40 [...]
Vale agrees pellet price cut of 48 pct with Nu-Iron
RIO DE JANEIRO, June 26 (Reuters) – Vale agreed with Nu-Iron Unlimited, a unit of U.S.-based Nucor, a reduction of 48.3 percent in the price of iron pellets for 2009, the Brazilian mining firm said Friday. The reference price agreed for 2009 is $1.2523 per tonne, Vale said. The price cut is in line with [...]
ArcelorMittal says steel orders hinge on China
ArcelorMittal, the world’s largest steelmaker, sees recovery in world steel demand as largely dependent on China and emerging markets such as Brazil, where growth has already begun.”At least from our experience, Brazil is recovering rapidly, in comparison to North America,” said Lou Schorsch, the chief executive of the firm’s Flat Americas unit, at a conference [...]
Arcelor Shifts Focus to Emerging Economies
World’s Biggest Steel Producer Sees Dim Prospects for Growth in North America and Europe ArcelorMittal, the world’s largest steel producer, is shifting focus from the developed world to lower-cost developing regions, acknowledging that growth prospects are dimmer in North America and Europe. Chief Executive Lakshmi Mittal told steel executives at a conference in New York [...]
New Production, Prime Steel Billets
Monthly availability from EAF producer in Mexico. Sizes available: 100 x 100 or 130 x 130 mm Lengths: 6 to 12 meters Grades: Chemistries to make grade 40 or 60 rebar, or A-36 Quantity: 5,000 – 10,000 mt per month Shipment: July/August Ports: Tampico or Manzanillo Please provide chemistry you require with your inquiry.
Chinese Steel Mills Raise Prices
Baoshan Iron and Steel (Baosteel) has raised prices for its major products 10 to 16 per cent for July delivery, the first increases in four months, industry sources said, signaling the mainland’s biggest steelmaker is optimistic about demand. Prices for hot-rolled steel products will rise 500 yuan (HK$567) per tonne or 16.2 per cent to [...]
China ready to cut steel output if ore price talks fail
Mainland reduced iron ore imports in May and threatened on Thursday it was ready to cut steel output and drop annual iron ore talks, toughening its position to reject a benchmark deal accepted by Asian rivals. Mainland has demanded a 40 to 45 per cent cut in iron ore prices from Australian miners Rio Tinto [...]
Fixed Costs Chafe at Steel Mills
Capital-Intensive Producers Are Raising Prices Despite Weak Demand BRIDGEVILLE, Pa. — Many stainless steel makers, facing high operating costs, are increasing prices despite weak demand. “We are raising prices because of the increased costs of operating our mills at the current lower levels. We are not seeing an increase in demand,” said Dennis Oates, chief [...]
The Great Disconnect
Do you know anybody who is happy with their business levels these days? Whether in the steel business, real estate business, retail, manufacturing or otherwise, I can’t think of any. So why is Wall Street, and the stock market on a recent rally? I understand the market is usually six months ahead of the economy, [...]
