Steel News

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[…]

Tax Cut Spurs 25% Jump in Chinese Auto Sales

Double-Digit Growth Unlikely to Return Until Year-End BEIJING — Auto sales in China surged 25% last month from a year earlier to 827,600 vehicles as a tax cut for small cars helped end three months of declines. The purchase tax on vehicles with 1.6-liter engines and smaller was cut in[…]

Dawning of a New Iron (Ore) Age

Iron ore is a dirty business — literally. The main ingredient in steelmaking, it is basically mineral-rich dirt dug out of the ground and shipped to foundries. Now the proposed investment by state-owned Aluminum Corp. of China (Chinalco) in Rio Tinto Group has raised fears this business will get a[…]

Betting Against our Children’s Future: A $1 Trillion Gamble

I decided I should write to my local Senators more often to voice my opinion. Otherwise they might think I like what is going on in Washington.  I received an email response from Senator Kyl which linked to the following editorial which was in last Sunday’s newspapers. By U.S. Senators[…]

U.S. Steelmakers Seek Import Tariffs

U.S. steelmakers are preparing a raft of complaints against foreign steel imports, a move that could result in tariff increases later this year and escalate trade tensions with China, say people familiar with the matter. Companies such as U.S. Steel Corp., Nucor Corp. and AK Steel Holding Corp. hope extra[…]

What does the Latin American steel community say?

In early November of 2008 I attended a steel conference called  Ilafa in Cancun.  This is the main Latin American steel conference of the year.  It was the early stages of the current economic tsunami, just after the time when all buyers collectively decided not to buy another ton of[…]

“US Stimulus may add 15 Million tons to demand”

Deutsche Bank says the $789 b(az)illion US stimulus package signed by President Obama could generate an additional 15m tonnes of steel demand over the next three years. The organization, in a research note  predicts that the estimated $146 billion in infrastructure spending called for under the legislation will represent 5[…]

Europe’s Steelmakers Brace

Tough First Quarter Expected, but Some See a Recovery LONDON — European steelmakers are braced for a first quarter that they expect to be even tougher than the end of last year, with demand still slack in Europe despite signs it might be picking up elsewhere. Steelmakers around the world[…]

Will Kremlin bail out an Oregon steel plant?

Customers of Portland’s Evraz Oregon Steel say that support from the Russian government could help the 80-year-old Oregon business survive the global crash in steel prices. During their recent heyday, Russian billionaires bought far-flung companies, London mansions, massive yachts and private jets. Few of the reclusive oligarchs loomed larger than[…]

Email joke of the day

I received this from one of my business partners today…. Three contractors are bidding to fix a broken fence at the White House. One is from Chicago, another is from Tennessee, and the third is from Minnesota. All three go with a White House official to examine the fence. The[…]