Steel News

Mittal loses $955 Million in 4th quarter 2014, expects tough 2015

“ArcelorMittal, the world’s largest steel maker, posted a fourth-quarter loss on Friday on weak iron ore prices and a torrent of Chinese exports that have flooded global steel markets and crimped steel pricing. The Luxembourg-based metals and mining company said it lost $955 million, compared with a $1.23 billion deficit[…]

Goldman Sachs Upgrades Nucor (NUE) to Buy

Goldman Sachs upgraded Nucor (NYSE: NUE) from Neutral to Buy with a price target of $52.00. Analyst Sal Tharani noted its exposure to the recovery in non-residential construction, low cost structure, and strong balance sheet. “We upgrade shares of Nucor to Buy from Neutral as we believe investors should be[…]

200 metric ton surplus 1070 wire rod

We have subject to prior sale the following Diameter: 5.5 mm Coils: 2.12 metric tons Condition slight rust Location Southeast USA Photos and chemistry available upon request. Payment in advance or at time of shipment unless otherwise agreed.

China Tax rebate – final thoughts

It appears that mills in China are asking customers to add .30 – .45 Chromium to their steel grades. With this level, the mill can declare the exported steel as “alloy” thereby qualifting for the tax rebate. I had some questions for my friend who works in the export department[…]

China Tax Rebate, Part 3

Is Chromium the new Boron in China? As we were informed by one of our Chinese Steel mill  friends, some mills are attempting to add Chromium to their steel so they can call carbon steels “alloy” and qualify for export rebates. The funny thing is, customers are wary of wire[…]

China Tax Rebate, part 2

As mentioned in the first post, now that boron added steels are no longer eligible for the 13% export tax rebate in China, a new method or element would be found to replace Boron. Today I learned what that is from a Chinese supplier who advised, “China removal tax refund[…]

China’s New Tax Rebate Policy on Boron added Steel Grades

I received this message from a Chinese Steel mill to clarify the new ruling. “Government announced the tax rebate on part boron added steel material is cancelled effective 1st of Jan 2015. Below products are involved: Boron added HR( including Teadrop) Sheet/Plate; (HS. 72254091 &72269191) Boron added Wire Rod, rebar[…]

Twitter @AllianceSteel

In March 2009 we decided to start a twitter account, and when there is something worth sharing, and the spirit moves me, I tweet about it. Today I found an app that summarizes the topics  have been tweeted . Here it is as a “Wordle”