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Steel Executives meet the Gov’mt

The following was reported in Steel Business briefing yesterday. There are discussions between legislators and steel executives about keeping specialty steel production alive in the USA as well as shipbuilding and infrastructure projects. Here is the full piece. Quite interesting. “Now that steel is more prominent on the Washington DC[…]

New Worldwide Steel Trading opportunities

Steel Trading has changed dramatically since Donald Trump was elected.  Imported steel has been threatened with additional dumping suits and a potential 20% import tax.  Companies and pipelines are strongly urged to buy American Steel.  Meanwhile scrap and Iron ore prices are rising, causing domestic prices to rise, in a[…]

Demystifying China’s Iron Ore Price Negotiations

After being labeled as a savior and a threat to the world’s steel industry, China is slowly pulling back on its steel production after restarting a war of world’s over setting up the prices for China’s biggest import commodity. The China Iron and Steel Industry Association (CISA) has suggested that[…]

ArcelorMittal’s White-Knuckle Ride

ArcelorMittal is a barometer of the global economy. But if its third-quarter results appear to signal more settled conditions ahead — thanks to a surprisingly swift China-led rebound in steel demand, it reported a much better than forecast 30% quarter-on-quarter rise in Ebitda to $1.6 billion — the world’s biggest[…]

Credit crunch forces Britain’s richest man Lakshmi Mittal to rent property

If you think only you are struggling to sell your property during this tough credit crunch, think again. Even the richest man of Britain has found no success in finding a buyer for his luxurious property. Steel magnate Lakshmi Mittal, is now looking to rent his property after failing to[…]

China Seeks Solution on Iron Ore Talks

BEIJING — Quashing speculation that a resolution was imminent or had been secretly reached over troubled iron ore price talks between global miners and China, a senior official of the China Iron and Steel Association said Friday the talks were still ongoing. China, the world’s biggest iron ore importer, hopes[…]

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[…]

The G-20 and GM: Economics, Politics and Social Stability

An interesting analysis of the current global financial crisis by Dr. George Friedman, founder of Strategic Forecasting, Inc. Reprinted (in part) with permission. By George Friedman Recession and the U.S. Auto Industry For the United States, this choice has been posed in stark terms with regard to the dilemma of[…]