Archive for August, 2009
Brazil’s Vale to build 5 mln ton/year slab mill
BRASILIA/SAO PAULO, Aug 27 (Reuters) – Brazilian iron ore miner Vale (VALE.N)(VALE5.SA) will build a 5 million-tonne-per-year steel slab mill in the state of Espirito Santo, a state secretary said on Thursday. Guilherme Dias, the Espirito Santo secretary of development, said the plant will be built in Anchieta, with additional investments in a railway linking [...]
China deepens probe into U.S. steel subsidies
Evr SHANGHAI (Reuters) – China, the world’s largest steel producer and consumer, deepened its investigation into imported steel products from the United States, the Ministry of Commerce said late on Wednesday, in response to complaints from its steel makers. Trade friction between Beijing and Washington has spilled over into numerous industries this year, with U.S. [...]
Weak demand drives Steel Dynamics to idle beam mill
With steel beam prices down 74%, producer shuts down Indiana plant Market reports of weak demand for wide-flange beams have been supported by the decision of Steel Dynamics Inc. (SDI) management to idle the firm’s medium-sized structural sections mill in Columbia City, Ind. So, despite the supply cutback, market prices are down 74% from a [...]
Steel market according to Wall Street
There has been an increase in ordering activity from domestic mills in the past month and lead times have increased from 3 to 4 weeks to up to 10 weeks for some products. Customers who are used to steel mills giving prompt delivery are suddenly realizing they need to buy steel for immediate delivery causing [...]
Secondary Billets
5″ x 5″ ( 127 x 127 mm) Length: 50 ft approx Grade: .50 max Carbon Quantity: 200 to 300 tons Price: $480 per metric ton, loaded trucks Chicago, IL Subject to prior sale.
Evraz option lapses on $1.5 billion China steel deal
MOSCOW (Reuters) – Russia’s Evraz Group (HK1q.L) has abandoned plans to acquire control of Chinese steel maker Delong Holdings Ltd (DELO.SI) after a $1.5 billion option to raise its stake to 51 percent lapsed on Tuesday, the company said. Evraz, Russia’s second-largest steel maker by production, said in a statement anti-trust authorities in China had [...]
China’s Plan B On Iron Ore
In their effort to gain the upper hand over the world’s iron ore suppliers, China’s steel mills are claiming a victory. Fortescue Metals will sell iron ore to the Chinese at a 3% discount to the price being charged internationally by the three major ore suppliers — Rio Tinto, BHP Billiton and Vale. In return [...]
Hot Dipped Galvanized Coils
6 Coils – 117 Net Tons – Hot Dipped Galvanized Grade 50, G-60, Oil .124″ min x 48″ x CL 1 Coil – 21 Net Tons – Hot Dipped Galvanized Commercial Steel, G-90, Oil 153″ min x 44.9″ x CL Both Aged Coils – Bare – Subject to Light Stain $23.95 FOB Phoenix Area
Miner BHP Billiton Posts 62% Profit Drop
Anglo-Australian Giant Hurt by Lower Commodity Prices; Signs of Improved Demand Emerge BHP Billiton posted a 62% drop in profit for its latest fiscal year amid falling prices and demand. But BHP, the world’s largest mining company by output, retained a strong cash flow that leaves it well positioned for a recovery and acquisitions in [...]
Atlas Shrugged by Ayn Rand
Have you read this book? It is a good novel by a famous writer. It has to do with the mysterious disappearance of the best and brightest business leaders around the country. All were visited by John Galt and then were gone. Pick it up and read it. It has to do with a government [...]
