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Steel Strip (Free subscription) | 12 hours ago
In their October report, the PMA (Precision Metalforming Association) expect a severe deterioration in business during the next quarter. Over two thirds of the members expect a steep drop on incoming orders and 30 percent already have some staff on short time. The general economic climate and a downturn in the automotive industry is blamed for the [...]
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Scrap Metal Prices and Auctions (Free subscription) | 10/11/2008
The US financial crisis and a depreciating rupee are likely to arrest the demand for higher steel imports into India. The development comes at a time when the domestic steel industry is already facing a spike in imports with demand outstripping production at home. “The US steel industry is facing the brunt of the crisis which [...]
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The LRC Blog (Free subscription) | 10/10/2008
Stock market declines forecast business slowdowns. Shanghai (SSE) is down to 2000 from 6100. Specific items like nickel (JJN) and copper (JJC) have broken down significantly. US Steel (X) is down to $45 from $196. The Baltic Dry Shipping Index...
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The Street (Free subscription) | 10/03/2008
The Mad About Options crew reviews Jim Cramer's recent bearish comments about US Steel and offers options strategies for traders and investors. Also hear options ideas for Yamana Gold and Jefferies.
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Steel Strip (Free subscription) | 09/30/2008
Shares of steel producers fell hard Monday after buyers virtually suspended purchases in the expectation that the cost of steel product will fall. "There’s actually a buyers’ strike at the moment," Soleil analyst Charles Bradford said in a telephone interview. "Basically what happened is that the price of scrap steel plummeted in late August and early September [...]
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Steel Strip World (Free subscription) | 09/29/2008
The latest MEPS report summary US steel producers have put aside the proposed price increases for the last quarter against a background of weak demand and falling scrap costs. With customers holding back orders some price slippage has been recorded. Prices fell in August and September in Canada and further price erosion can be expected. China saw price reductions in August and demand continues to...
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Rook's Rant (Free subscription) | 09/21/2008
Old US Steel is not Essar, and is claiming they will increase employment in Northern Minnesota
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ireland.com (Free subscription) | 09/19/2008
RYDER CUP (US 3 - 1 EUR): The US won the first session of the Ryder Cup for the first time since 1991 and set down a marker for consistency which Europe will need to heed if they are to retain their title. Padraig Harrington had the privilege of hitting the first shot of this year's tournament in the morning foursomes. But the half he and Robert Karlsson gained agsint the US's strongest pairing could...
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Seattle Times (Free subscription) | 09/11/2008
On picket lines in Seattle and production lines in Pittsburgh, union workers are showing no fear in demanding a hefty chunk of the profits from Boeing Co. and United States Steel Corp., whose businesses have soared above the more widespread economic downdrafts in other sectors.
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Steel Strip (Free subscription) | 09/03/2008
Due to the export market softening, a US dealers are predicting that the September 2008 scrap price will fall again. Actually, some scrap prices are already on a downward trend in the local market. Price of busheling scrap is estimated to drop by USD 200 per long tonne to USD 650 per long [...]
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Today's Tribune-Review (Free subscription) | 08/26/2008
United States Steel is a partner in three projects expecting more than $9.8 million in federal funds to develop energy-efficient steel-making and other energy-intensive processes. The three projects are among eight seeking more than $26 million in federal funds over three years, subject to congressional appropriations.
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Treehugger (Free subscription) | 08/21/2008
Jeff Rubin, chief economist for CIBC World Markets, and predictor of $10 gasoline, notes who is profiting from high oil prices: "Soaring transport costs, first on importing iron to China and then exporting finished steel overseas, have already more than eroded the wage advantage and suddenly rendered Chinese-made steel uncompetitive in the US market....China’s steel exports to the US are now falling...
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Seattle Times (Free subscription) | 08/13/2008
Russian steelmaker Novolipetsk Steel has signed an agreement to expand its presence in the U.S. by buying steel pipe and tube manufacturer John Maneely Co. from a shareholder group including private equity firm Carlyle Group for $3.53 billion, Novolipetsk said in a statement Wednesday.
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Miami Herald (Free subscription) | 08/13/2008
Russian steelmaker Novolipetsk Steel has signed an agreement to expand its presence in the U.S. by buying U.S. steel pipe and tube manufacturer John Maneely Company from a shareholder group including private equity firm Carlyle Group for $3.53 billion, Novolipetsk said in a statement Wednesday.
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Examiner (Free subscription) | 08/13/2008
Russian steelmaker Novolipetsk Steel has signed an agreement to expand its presence in the U.S. by buying U.S. steel pipe and tube manufacturer John Maneely Company from a shareholder group including private equity firm Carlyle Group for $3.53 billion, Novolipetsk said in a statement Wednesday.
