Steel News

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[…]

ArcelorMittal – 17% to 90% capacity at US Mills

Most of ArcelorMittal’s US steelmaking operations are running well below their capabilities, according to a United Steelworkers (USW) union document shown below. The highest capacity is at Wierton where tinplate is the major product being produced. Georgetown is producing wire rod only. ArcelorMittal US operating levels Source: USW document Operating[…]

$150bn for infrastructure reportedly in new US stimulus bill

The $787 billion stimulus package expected to land on President Obama’s desk reportedly provides $150bn for infrastructure projects – about 19% of the overall spending called for in the bill. Most Democratic US House and Senate members, hope to have the bill approved and forwarded to the president for his[…]

ArcelorMittal Steels Itself for Tough 2009

This time it’s different — or so ArcelorMittal would have us believe. The rest of the steel industry has largely matched the Luxembourg-based steel giant’s steep 45% cut in production in the past few months. That may enable the world to avoid a steel glut, the cause of so much[…]

The Stimulus is a Step Towards a Soviet America

Written by Senator Tom Coburn Tuesday, 10 February 2009 [Senator Coburn recently gave this speech on the floor of the Senate] We are going in exactly the wrong direction. We ought to be standing on the principles that made this country great. There ought to be a review of every[…]

What will spur renewed demand?

Here we are in early February, seeing a few more inquiries and a trickle of orders, but when will real demand return? Some are hoping the government stimulus package will help the steel industry.  We could surely use some new bridges, updated highways and other steel intensive building projects.  While[…]

Posco Cuts Steel Output for Third Straight Month

Feb. 2 (Bloomberg) — Posco, Asia’s third-largest steelmaker, will cut production in February, bringing output lost since December to 2.3 percent of last year’s total as the global recession reduces demand. Crude steel output will drop by about 200,000 metric tons this month and take total cuts to 770,000 tons,[…]

Miners Stall on Iron-Ore Price Talks

The world’s steelmakers want at least a 10% reduction in iron-ore prices, but miners are determined to keep prices level as the two sides begin secretive contract negotiations in what looks to be a bust year for all commodities. The outcome of those annual talks will affect the price of[…]