Steel News

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[…]

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[…]