Steel News

Things may be bad in the USA, but Russia has it worse

Steel makers join hunt for Russian state funds Nov 18 (Reuters) – Russian steel makers Severstal, TMK and Evraz Group are in talks to secure loans from state-controlled banks to help refinance debt incurred to fund expansions in North America this year. Russia plans to channel at least $50 billion[…]

Russia industry slowdown prompts new government action

By Gleb Bryanski and Denis Dyomkin MOSCOW, Nov 18 (Reuters) – Russia pledged fresh efforts to boost its economy on Tuesday after data showed industry growth slumping and the World Bank said further weakness in the rouble looked inevitable. Official statistics showed double-digit falls in production of materials such as[…]

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[…]

Evraz Gets A Kremlin-Style Bailout

Moscow gives money to steelmaker so it can pay its taxes. In a new sign that Russia’s corporate sector is reeling from its own branch of the global credit crunch, billionaire Roman Abramovich‘s Evraz steelmaker said Thursday it would borrow money from the government—to pay its taxes. Many of Russia’s[…]

ThyssenKrupp optimistic for steel outlook in 2009

By Christiaan Hetzner FRANKFURT, Oct 4 (Reuters) – The top executive at ThyssenKrupp’s (TKAG.DE: Quote, Profile, Research, Stock Buzz) core steelmaking division expressed confidence that emerging markets would keep the steel boom alive next year even as economic growth slows. “We are confident. The optimism is based on the continued[…]

Outlook for iron ore said strong despite current downturn

The global iron ore market is strong and prices are expected to rise over the next few years, the Euroforum iron ore conference in Berlin was told yesterday.

”Market fundamentals are very strong. I am convinced iron ore price rises will continue for a few more years, and when they do[…]

Posco Dispels Steel Worries

By Song Jung-a Posco, Asia’s biggest steelmaker by market value, yesterday gave an upbeat earnings guidance, dispelling investors’ concerns about slowing steel demand and higher raw material costs. The South Korean steelmaker said it expected third-quarter earnings to be better than expected and full-year profit to exceed its target, helped[…]

CEO says Vale to stick to China price demands-report

BRASILIA, Sept 24 (Reuters) – Brazil’s mining giant Vale will stick to demands for higher prices for the iron ore it exports to China, its CEO Roger Agnelli told local media, adding many firms already had accepted the price rise. An executive at the China Iron and Steel Association last[…]

Welcome to “Steel Thoughts”

Welcome to our first blog entry. We have set up this web site provide information that may be helpful to our customers, prospects and others interested in the industry. As time permits we will add various standards and specifications in our reference section. As a trainee in the wire business[…]