Steel News

April-May Scrap forecast

I received a message today from a domestic steel mill with their scrap outlook. I decided to forward this to several other who deal in scrap, pig iron and iron ore and the following is what these five had to say about the near future. The first forecast was sent[…]

Arcelor refinances $1.2bn of debt

Mr Mittal has forecast falling steel demand this year Steelmaking giant Arcelor Mittal says it has refinanced $1.2bn ($820m) of debt until 2012, as it struggles amidst a global fall in demand for steel. Last month, the firm reported a fourth-quarter net income loss of $2.6bn as the slowdown in[…]

Will India lead the way out of the recession?

SAIL, Tata Steel Expect India Steel Demand to Rise NEW DELHI — Steel Authority of India Ltd. and Tata Steel Ltd. said Thursday steel sales will likely climb in the quarter through March on a rise in demand from key sectors, including automobiles and construction. “Sales in March are going[…]

Where are we now?

As the first quarter of 2009 comes to an end, what signals do we see to help us predict the future? 1. Some industries are starting to see inquiries for projects funded by the government.  There are more inquiries for steel beams, wire mesh and construction products.  I expect there[…]

Ship-breaking booms in the economic bust

ALANG, India: A global economic slowdown has hit industries ranging from automakers to investment banks, but in one small town on the western coast of India, business is at record levels and workers can hardly keep up with demand. In Alang on the coast of Gujarat State, home to the[…]

BHP Billiton Drops Coal Prices for New Contracts

TOKYO — Japanese steelmakers and BHP Billiton have agreed to an almost 60% reduction in the price of coal for the next contract year beginning in April, people familiar with the situation said. Nippon Steel Corp., Asia’s largest steelmaker by output, and BHP’s joint venture with Mitsubishi Corp. have agreed[…]

Stimulus Dilemma for China

Spending on Public Works Risks Making Production Glut Worse BEIJING — The Chinese government’s massive investment in the economy could end up increasing excess capacity in industries from steel to petrochemicals, some executives and economists say. Given China’s global manufacturing heft, more idle factories could heighten competitive pressure world-wide, sparking[…]

China pushing consolidation of car and steel makers

China will concentrate more power in the hands of fewer auto and steel companies, the government has said in unveiling its most concrete plans yet for reform of the two industries. The State Council, or cabinet, said it would push five steel makers and two or three car companies to[…]

Steelmakers Jumping the Gun on Stimulus?

Eager to cash in on stimulus packages in China, the U.S. and Europe, some steelmakers are ramping up production. But some are moving too quickly, causing steel prices to drop again after recovering earlier this year. The situation illustrates the dilemma for industries that need to fill the pipeline with[…]