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September 2nd  - General Kirkby U.K. - Six trees for six decades in Liverpool.
Kirkby based Yorkshire Copper Tube is looking for sites across Liverpool to plant six trees in celebration of its 60th anniversary. The company, which has been manufacturing from its purpose built, state of the art production plant for six decades, would welcome suggestions from schools, nurseries, local community projects or businesses who want to spruce up their surroundings. Jack Wallace, Yorkshire Copper Tube¡¯s Sales Director, said: ¡°Throughout 2010 we have been celebrating our milestone birthday and we wanted to give something back to the community we have been based in for 60 years. ¡°We are opening this up to the local people and would welcome suggestions from anyone who thinks they have the perfect spot for one of our trees.¡± ¡°We will choose what we deem to be the most deserving sites and the trees will be planted during the autumn of this year.¡± Yorkshire Copper Tube employs more than 200 people at its Kirkby plant. It is a division of KME Yorkshire Ltd, part of the KME Group, Europe¡¯s largest producer of copper and copper alloy products.
August 31st  - General Shanghai China - Baosteel HFW welded tube output amount to over 1 million tonnes
The accumulative total production volume of HFW welded tube of Baosteel Co Ltd Steel Tube Business Unit has amounted to over 1 million tonnes recently. Thus the line has become the 1st single unit heavy caliber HFW line that broke through the production volume of one million tons domestically. Baosteel is the first domestic whole flow iron and steel joint enterprise that enter into the field of HFW welded tube manufacturing. Baosteel HFW welded tube production line start production on October 27th 2005. The design annual yield is 300,000 tonnes. Products include pipeline pipe, casing, carrier pipe and structural pipe which can be widely used in the construction of project construction and oil-gas field both at home and abroad.
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August 28th  - General Casper Wyoming - Ruby pipeline to widen markets for gas
Assuming construction of the Ruby natural gas pipeline does not get delayed in the current storm of legal proceedings, completion of the line in March should provide enough additional access to the Western market to ensure that Rockies gas flows westward for decades. With the additional capacity of 1.5 billion cubic feet of gas per day, Rockies natural gas producers will ¡ª for a time, at least ¡ª have more pipe than they do production, according to the Wyoming Pipeline Authority. ¡°We¡¯re going to have total pipeline capacity, finally, out of the Rockies that exceeds our requirements,¡± said Brian Jeffries, executive director of the Wyoming Pipeline Authority.
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August 21st  - General Luxemburg - ArcelorMittal to complete funding for seamless tube mill by the October end.
SteelGuru reports that ArcelorMittal is aiming to complete the funding of its SAR 2.5 billion seamless steel tube mill in Saudi Arabia by the end of October. Sources close to the project say that the deal is now nearing its conclusion. The financing will include around USD 450 million of debt from the local Riyad Bank and Banque Saudi Fransi. Banks have been working on the deal since May 2009 and had hoped to complete the financing before the end of that year. However, it was pushed into 2010 as a result of some difficulties created by the collapse in the steel prices since the project first approached banks to fund the project. ArcelorMittal said that the plant is JV between ArcelorMittal and the local Bin Jarallah Group. It will supply pipes for the oil industry and it will open in 2011. The company said that Saudi Aramco has agreed to buy some of the plant's output. ArcelorMittal will hold 51% stake in the project and Bin Jarallah will hold 49%. The plant will be the second seamless tube mill in the GCC.
August 21st  - General Brantford Ontario - Industrialized world's Infrastructure is falling apart (This could be good news for some).
The basic infrastructure all of us depend on every day such as, highways, public transit rail networks, water pipes pipelines and the power grid is all falling apart. An examination of the vastness of the US infrastructure underscores the issue: There are about 4 million miles of roads, 117,000 miles of rail, 600,000 bridges, 79,000 dams, 26,000 miles of commercially navigable waterways, 11,000 miles of transit lines, 500 train stations, 300 ports, 19,000 airports, 55,000 community drinking water systems, and 30,000 wastewater treatment and collection facilities. Last January a broken water main in Toronto midown knocked out the power in affluent neighborhood. Movie theatres and restaurants closed, and guests at the dark and cold Four Seasons were shipped across the street to the Park Hyatt. ¡°Eight hours of cold feet for the well-heeled,¡± snarked a clever headline in the next day's paper. Be forewarned, though: The next laugh may be on you.
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August 17th  - General Hengyang China - Hengyang Valin Steel Tube expected to receive extended API5CT certification
On August 10-11, American Petroleum Institute (API) officials carried out inspections at the request of Chinese tubemaker Hengyang Valin Steel Tube Co., Ltd which is seeking to extend its API5CT certification to include additional production specification levels (PSLs). Currently, market demand for PSL2 and PSL3 casing tubes is increasing, but Hengyang Valin Steel Tube's present API5CT certification only covers PSL1 products. Following inspections, the API officials announced that Hengyang Valin Steel Tube has the capability to produce PSL2 and PSL3 casing tubes. After a final report is made to API headquarters, a new extended certification is expected to be awarded to Hengyang Valin Steel Tube.
August 17th  - General Kirkby Liverpool U.K. - Yorkshire Copper Tube exhibits at local events.
Following the huge success of Yorkshire Copper Tube¡¯s visit to PHEX in April the company has signed up to the Manchester and Chelsea events. It will exhibit at Old Trafford on Wednesday 13th and Thursday 14th October and at Stamford Bridge on Tuesday 23rd and Wednesday 24th November as part of its 60th anniversary celebrations of successful manufacture in Kirkby, Liverpool. The copper tubing specialist, which supplies market leading products to companies across the globe, will be showing its range of plain, plastic coated and special finish copper tube, which are suitable for diverse applications like gas, water and sanitation systems. A team of Yorkshire¡¯s expert technical staff will also be on hand to talk visitors through the benefits of using copper tube and answer any questions. There will also be competitions and giveaways during the exhibition where installers will get the chance to win polo-shirts, fleeces, torches, tube cutters, umbrellas and much more. Operating from one of the most modern factories in the world, Yorkshire Copper Tube combines advanced manufacturing methods and sophisticated quality control techniques to ensure that only consistently high standard tubes are supplied to customers. Ongoing substantial investment programmes are testament to the company¡¯s commitment to excellence in product quality and customer service. Yorkshire Copper Tube is a member of the KME Group of companies, which together represent Europe¡¯s largest producer of copper and copper alloy materials. All Yorkshire¡¯s copper tubes carry the British Kitemark and the company¡¯s Quality Management System is BS EN 9001 approved.
August 14th  - General Canton Ohio - The Timken Company to invest $50 million in its Ohio steel operations
The Timken Company announced that it will invest approximately $50 million in its steel operations in Canton, Ohio. Slated to begin this year, the investment is for the installation of a new intermediate finishing line at the Gambrinus Steel Plant and expansion of the steel lay-down yard at the Harrison Steel Plant's small-bar mill. Timken's Steel Group has had a significant increase in demand across all markets, and 2010 sales are expected to increase by 70 to 80 percent compared to 2009. "The investments have the goal of both meeting demand and continuing to improve the long-term competitiveness of our operations," said Sal Miraglia, president ¨C steel for Timken. The installation of a new intermediate finishing line at the Gambrinus Steel Plant, the larger of the two projects, will improve manufacturing competitiveness with a more efficient operation that incorporates the latest technologies and employs lean processes. It will be built in a combination of unused and repurposed buildings on the Gambrinus site. The line, which will more efficiently handle both bar and tube products, ultimately will replace existing batch-type finishing processes at the plant when it is fully operational in 2013. "The more automated, continuous line will streamline our operations, improving manufacturing effectiveness as well as providing future marketplace opportunities," said Miraglia. "Safety and productivity will also improve, by minimizing unnecessary handling."
August 10th  - General Pretoria South Africa - The Department of Trade and Industry concerned about local prices being 'among the highest in the world'
The Department of Trade and Industry announced the appointment of an inter-departmental task team to recommend policy tools to ensure a "competitive steel-pricing regime" and the "development and deepening of value-added manufactured products in downstream industries". The department said it was "extremely concerned" about the high price of steel in SA, and said local prices were "among the highest in the world". The department has tried for years to lower the cost of steel produced by ArcelorMittal, which has an estimated local market share of more than 70%. The dispute between ArcelorMittal and Kumba over a cheap iron ore contract, which has led to increases in the steel giant's iron ore costs and product prices, has made the pricing matter a priority for the government. ArcelorMittal, which changed its model from import-parity pricing to a weighted basket based on prices in Germany, Russia, China and the US, said it was ''firmly of the view that the current pricing structure is appropriate for the SA market.
August 7th  - General Hunan. China - Hengyang Valin Steel Tube obtains further PED certification
SteelGuru reports that Central China based steelmaker Hengyang Valin Steel Tube Co Ltd has received its second pressure equipment directive certification from Bureau Veritas, thereby expanding its range of approved steel grades and products. The steel grades concerned this time are A192,T1, T12, T23, T91, P22, and Cr6, for tubes of 45mm to 720 mm diameter and of 3.5mm to 100 mm wall thickness. The standards are ASME and ASTM. The certification will help Hengyang Valin Steel's pressure tube to enter the EU market. Bureau Veritas is an international group specialized in the inspection, analysis, audit and certification of products, infrastructure and management systems in relation to regulatory or voluntary standards.
August 7th  - General Weifang China - Weifang East Steel Pipe recalls electrical metallic tubing (EMT) with inadequate corrosion protection
Weifang East Steel Pipe Co., Ltd. is notifying AHJs, electrical contractors, electricians and retailers that certain Electrical Metallic Tubing (EMT) manufactured by Weifang East Steel Pipe Co., Ltd. (also known as "East Conduit") from August 2009 through March 2010 and identified per below, may not be adequately protected against corrosion. The affected EMT displays a UL Listing Mark for the U.S. and Canada. Some EMT sold to retailers through distributors was found not to comply with United States or Canadian safety standards and is not authorized to bear the UL Mark. Weifang East Steel Pipe EMT found in compliance with United States and Canadian safety standards is identified by "E340594". This EMT is zinc coated using the "Hot Dip" galvanizing process to provide better corrosion resistance both outside and inside.
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July 30th  - General London U.K. - Meps forecasts record high iron and steel production in 2011 and 2012
MEPS remains quite upbeat about the prospects for global iron and steelmaking this year and next. World steel output is predicted to reach 1395 million tonnes in 2010 - up by 14 percent on the year earlier figure. A further expansion of 3.9 percent is anticipated in 2011. The bounce back in global steel mill activity this year will be strongly influenced by the recovery in industrialised countries of the world. The economic crisis in the West in 2009 resulted in their share of global steel output falling to just 25 percent. This year, the figure will climb to near 28 percent. We should not forget, however, that the emerging and developing nations will contribute around 100 million tonnes (57 percent) of the rise in steel production this year. This amount will increase in the future as the proportion of construction activity in GDP growth drives up apparent consumption of steel per capita in these countries.
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July 30th  - General New York City - North American and Japanese steelmakers paint gloomy picture
North American and Japanese steel makers painted a vastly more pessimistic outlook for the short-term prospects of the industry than MEPS as global prices have fallen and industrial demand is not recovering from the recession as quickly as expected. The negative outlook from Japan to North America sent steelmakers’ shares tumbling. U.S. Steel Corp complained about slower order rates and AK Steel Holding Corp said it is cutting production capacity to match weak demand from big steel buyers like the automobile and construction industries. “Prices have just collapsed and a lot of people have not recognized that yet,” said analyst Charles Bradford of Affiliated Research Group. Over the past year, steel prices had slowly risen, but in the last couple of months they have slipped back as demand has stalled and raw material costs have risen. Dahlman Rose & Co analyst Tony Rizzuto said the price of U.S. hot-rolled coil steel dropped 3.8 percent in just the last five days. “Too much capacity came back on line too soon,” said Bradford, noting U.S. capacity use rates had risen from about 45 percent last year to an average in the 70 percent range now.
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July 30th  - General Abu Dhabi UAE - Emirates Steel output surges 45% in first half
Emirates Steel said on Tuesday that its finished products output surged 45.4 per cent in first half while sales recorded 30 per cent growth over corresponding period last year. The Abu Dhabi-based company said production of rebar grew by 26 per cent during the first half of the year, compared to the first six months previous year; while the output of wire rod went up by a significant 283 per cent. In a statement yesterday, the company said exports of steel products more than doubled during the period. “The company sells around 80 per cent of its products to the local markets, while the rest is exported to Jordan, Saudi Arabia, Kuwait, Oman, India, China, the Far East and Pakistan,” the statement said. Emirates Steel is a subsidiary of Abu Dhabi Basic Industries Corporation (ADBIC) which is, in turn, wholly-owned by General Holding Company (GHC), an industrial arm of Abu Dhabi government.
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July 24th  - General Washington D.C. - SSTTAC members express concern about dumped imports
The members of the Stainless Steel Tube Trade Advancement Committee (SSTTAC), a group of domestic seamless stainless steel pipe and tube manufacturers, today expressed concern about increasing examples of apparently dumped imports from foreign producers. "As our economy slowly recovers, our member companies are seeing more and more examples of apparently dumped imports from foreign producers. Leading the charge is China. Based upon official U.S. government data, imports from Chinese producers are coming in at one-third to one-half the value of most other foreign producers. The Chinese prices in the market tend to be 25 to 50 percent lower than prevailing market prices," according to David A. Hartquist, counsel to SSTTAC.
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July 20th  - General Lincolnshire,Illinois - RathGibson emerges from bankruptcy
RathGibson, a leading manufacturer of welded, welded and drawn, and seamless stainless steel, nickel, and titanium tubing, is pleased to announce their emergence from bankruptcy and their transition of ownership to an investment group led by Wayzata Investment Partners. The name has changed from RathGibson, Inc. to RathGibson LLC. While the ownership and name have changed, RathGibson remains committed to providing the same high quality products, services, technology, and innovations on which their customers and channel partners depend. “Wayzata and its partners are making a significant investment in our business because of their high level of confidence in our people, products, and future,” said Michael Schwartz, President and CEO. “Joining forces with Wayzata allows us to focus on opportunities to provide tubing solutions throughout the world.” Throughout the financial restructuring, RathGibson received significant support from its employees, customers, channel partners, and suppliers.
July 20th  - General Harrow, Ontario - Senator Deborah “Debbie” Stabenow (D-Mich) seeks fair global economy
Atlas Tube, one of America’s largest steel tube manufacturers, is facing competition from overseas, particularly China. Senator Deborah “Debbie” Stabenow (D-Mich) is working to change that. She is working to change the exchange rate for Chinese currency to mitigate there advantage in the prices on market. She theorizes that “some countries undervalue their currency to give themselves a competitive advantage in the global economy.” She contends China is one of these countries, undervaluing there currency by as much as 40 percent.
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July 17th  - General Brantford Ontario - Holiday news schedule
During the summer vacation period July 15 to August 31 we will publish our news bulletin twice a week
July 17th  - General Hamburg Germany - Fire incident at the Aurubis works in Hamburg
Yesterday at about 5.30 p.m. part of the molten copper in one of the two anode furnaces leaked out for reasons as yet unknown. The 1,200 ºC hot melt caused cable to ignite under the anode furnace. In addition, there was a deflagration. A deflagration of this type occurs when hot melt comes into contact with water. No one was injured during the incident and the environment was not affected. The building was not damaged in any way. The company’s own fire brigade and the professional fire brigade and voluntary fire brigade, which were called in, quickly succeeded in extinguishing the fire. About 120 fire fighters were in action at times. By 9 p.m. most of the fire brigade were able to leave the plant. As a precaution, the site of the fire was kept under surveillance throughout the night.
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July 14th  - General Tranås Sweden - That speculators take delivery to depress inventory does not seem enough to change downward trend
Copper continued to decline on Monday, as the trend was negative after reduced import numbers from China. Chinese imports fell by 17% in June to 328231 tonnes on a monthly basis. On a yearly basis the imports were down by 31% from 475999 tonnes. Markets lack energy to move forward and any brief rise is faced by Chinese importing future. The Monday session was in red and the opening in major exchanges is down on Tuesday. It seems that the market breadth relating to Copper is still weak and decline in inventory levels that is at 7 month lows is not bringing enough push forward. Shanghai Copper benchmark contract is down by 670 yuan to 52880 yuan per tonne. COMEX Copper is down by 1.9 cents and now trade at $ 2.990 after closing at $ 3.009 per lb on 12 July 2010. Copper on MCX closed the trading at Rs 312.75 per kg, down Rs 3, or 1%. The prices are expected to remain in a negative zone today with supports at Rs 310-308 per kg levels. LME warehouse stocks of Copper was down by 1650 tonnes today and now is at 435250 tonnes, levels not seen since November 2009. But it has hardly made a difference in the negative trend of Copper so far.
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July 12th  - General Sault Ste. Marie Ontario - Steel remains backbone of Canadian manufacturing
Despite fears of a potential "earthquake" impact to primary steel producers, such as Essar Steel Algoma, as a result of new billing procedures by essential raw material suppliers, the future is not all doom-and-gloom for the Canadian steel sector. Peter Warrian, author of a recently-released extensive 47-page report on the state of the Canadian steel industry, told a sparse Sault Ste. Marie audience Thursday that "steel remains the backbone of advanced manufacturing in this country. The industry was critical to Canada in the past and should remain so moving forward." The report, commissioned by the Canadian Steel Trade and Employment Congress, offers insight into foreign ownership and the forces currently impacting the industry both domestically and globally. Seventeen of 18 primary Canadian steel facilities are controlled by global companies, said the acclaimed steel academic with the Munk Centre of International Studies at the University of Toronto, including Tenaris Algoma Tubes and Essar Algoma in Sault Ste. Marie.
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July 9th  - General Mumbai India - China may continue ruling copper prices
At a time, when copper prices have showed a fresh uptrend over past one week on the London Metal Exchange (LME) and Indian commodity bourse, Multi-Commodity Exchange (MCX), the price outlook for the red metal seems firm in anticipation of a strong demand from world’s largest copper consumer, China. Copper prices hit the highest level for over a week’s time on Thursday, July 08, 2010 gaining momentum from a falling dollar and rallying global equities markets. In addition to it, International Monetary Fund (IMF) maintained positive outlook for the global economic growth to be upwards from the previous forecast of 4% to 4.5%. However, China factor will continue to drive the metal prices in coming months. In an interaction with CommodityOnline, Ratan Mardia, Managing Director, Nissan Copper Ltd - India’s leading copper tube manufacturer maintained that China has been the main buyer for copper over the years and this year too it will continue to affect prices with its strong buying position. Over past few months, China has been stock piling copper in a major way, affecting prices to scale newer heights. But in recent months, copper prices have been seen in a bearish trend owing to the global economic concerns. I believe that copper prices will continue to hover between $6500 per tonne to $7500 per tonne,” said Mardia adding that China will continue to remain key buyer of the red metal in coming days.
July 9th  - General Beijing China - Mexico slaps AD duty on Chinese spiral welded steel pipe
Beijing News quoted that the Ministry of Commerce revealed that Mexican government decided to impose provisional anti dumping investigations on spiral welded steel tubes imported from China, which it said were competing unfairly in the Mexican market. The economy ministry found in an investigation that Chinese seamless steel pipes, were sold below the local market prices, which greatly impacted the national industry. As per report, the involved spiral welded steel tube, with the diameter of more than 8 inches and thickness of no more than 50.8mm, owns an API5L certification. And the involved tax code is 7305.1901. Tamsa and Tumex two major applicants of this case jointly lodged a complaint to Mexican government. The inquiry period may start from July 1 2009 to June 30th 2010 and the interested parties should submit the relevant data and reports to the Mexican authorities during the survey period before 14:00 PM August 11th 2010.
July 8th  - General Austin Texas - Texas may require utilities to replace steel gas lines to prevent explosions
Natural gas utilities might have to dig up neighborhoods across Texas to replace hundreds of thousands of steel service lines to prevent explosions. Railroad Commissioner Michael Williams will propose today that the commission require Atmos Energy and other utilities to replace the lines, which bring natural gas from pipelines under neighborhood streets to homes. Texas has at least 525,000 steel lines, maybe a million, he said. The project could cost more than $500 million, possibly borne by customers. "It would be the largest replacement program the Railroad Commission has ever done," he said. Regulators targeted the service lines after several deadly home explosions. The problem is that the old service lines are made of rigid steel, which can shift and corrode. Williams wants utilities to replace the steel with new plastic lines. Depending on how the commission might structure an order, the replacements could take up to 10 years to complete. Creating a rule to require the replacements will take months. Atmos officials will not talk about the issue. The publicly traded utility is already replacing some lines, but refuses to disclose what is happening. It's unlikely that Atmos, CenterPoint Energy and other utilities would be on the hook for the $500 million cost. On the contrary, utilities typically may charge ratepayers for the cost of new infrastructure, plus a 10 percent profit.
July 6th  - General Beijing China - Aluminium alloy tubing industry will experience new growth
Himfr reports that China is a super-producer of air conditioners, with total annual demand of more than 80 million units. It is expected that aluminium will replace copper market capacity on behalf of more than 20 billion yuan. At present, the proportion of aluminium alloy on the market is less than 7%, so the future development space is very broad. Himfr's market experts believe that alternative materials will be the inevitable trend for cooling pipeline product development, but currently air conditioner use aluminium alloy.
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July 3rd  - General Brantford Ontario - We join USA in celebrating the 4th of July
Next news bulletin Tuesday July 6
July 1st  - General Brantford Ontario - Celebrate Canada Day with us
Next news bulletin July 2
June 28th  - General Pittsburgh Pennsylvania - SBB conference looks at steel tube role in shale play
The Steel Business Briefing (SBB) is gathering about 200 executives from the steel, gas, transportation, and other industries that could benefit from Marcellus Shale drilling to look at how the tube industry can take part in the expected growth. SBB North American Tube Editor Dan Hilliard says this could be the “rebirth of the steel industry in the region.” Hilliard says each well uses between 140 and 360 tons of steel tube. There are a few companies in the region making steel tube and Hilliard says he has heard that more are considering a move to southwestern Pennsylvania and Eastern Ohio. On top of the Hilliard says support industries will also be coming to the region including warehousing facilities and trucking companies. Hilliard says just keeping the tube in stock could become a problem or producers. The tube used in Marcellus drilling is not used in many other applications. The tube is consumed in the drilling, fracturing and extraction process and cannot be used again. Hilliard says, “it will be interesting to see where Pittsburgh and the local area is in 20 years as a result of this shale play.” The event begins Wednesday with a social event and then begins holding sessions Thursday morning in Pittsburgh.
June 25th  - General Tranås Sweden - There is no News bulletin today due to Midsummer festivities
Next News bulletin will be published Monday June 28
June 24th  - General Beijing China - China cuts commodities export tax rebates
China will scrap tax rebates to exporters of dozens of commodities including key steel products, corn starch, rubber products and ethanol, the finance ministry said, while they also face a rise in the yuan. The decision has disappointed local steel mills, which were hoping for more government support as they come up against potentially calamitous margin pressures in the third quarter as well as a further decline in exports as a result of the rising yuan. "Chinese steel exports have already been difficult and have lacked price competitiveness, and we will face a much tougher environment if some taxes aren't rebated," said an export manager with a major steel mill. China will cancel 5 percent rebates on exports of semi-finished copper products such as rods, bars, profiles and wires, and semi-finished nickel products including plates, sheets, strips, foils and tubes.
June 21st  - General Beijing China - Yuan exchange rate to be more flexible
China is to allow the exchange rate of the yuan to be more flexible, after drawing western criticism for linking it to the US dollar for almost two years. However, the People's Bank of China gave no details about the timing or extent of changes. The yuan has been effectively pegged to the dollar, drawing criticism that China was protecting its exporters. Both the International Monetary Fund and the US Treasury Secretary Tim Geithner welcomed the move. The European Commission also approved. The United States has been particularly critical of Beijing, accusing it of keeping its currency artificially weak. The yuan has been held at about 6.83 to the dollar since July 2008. In July 2005, it was revalued by 2.1%. The People's Bank of China said the proposed exchange rate reform had been made possible by the global recovery. But it appeared to rule out a major appreciation, saying there was "no basis for big fluctuations or changes". The BBC says the announcement may be an attempt to preempt criticism of China's currency policies at a summit of the G20 group in Canada on 26 June.
June 19th  - General Huntsville Alabama - Wolverine Tube terminating pension plan as part of cost-cutting efforts
Wolverine Tube, Inc. ("Wolverine") announced today that it will be initiating formal action with the Pension Benefit Guaranty Corporation (the "PBGC") to terminate the Wolverine Tube, Inc. Retirement Plan (the "Plan") in what is known as a "distress termination". The Plan was frozen effective February 28, 2006 and future benefit accruals ceased as of that date. Wolverine's Board of Directors has determined that Wolverine can no longer afford the ongoing contributions necessary to maintain the Plan and, accordingly, Wolverine will be asking the PBGC to approve the termination of the Plan. Wolverine is hopeful that it will be able to work with the PBGC to resolve all Plan liabilities pursuant to terms that are acceptable to the PBGC and affordable for Wolverine.
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June 17th  - General Washington D.C. - Turkey's Toscelik wins preliminary round in US steel trade case
Light-walled rectangular pipe and tube may not rank among the sexy, major-volume steel products traded globally, but the US Department of Commerce's International Trade Administration said Tuesday that it has preliminarily found "that [Turkish steel producer] Toscelik did not make sales at less than normal value" into the US market. The finding is worth noting because most recent steel trade cases involving the US and offshore producers have been determined in favour of domestic industry, especially cases against China. Nonetheless, the Commerce Department has been conducting an administrative review of the antidumping duty order on light-walled rectangular pipe and tube from Turkey and so far that country has been spared.
June 16th  - General Lincolnshire Illinois - The start of a new era for RathGibson
RathGibson, a leading manufacturer of welded, welded and drawn, and seamless stainless steel, nickel, and titanium tubing, is pleased to announce their emergence from bankruptcy and their transition of ownership to an investment group led by Wayzata Investment Partners. The name has changed from RathGibson, Inc. to RathGibson LLC. While the ownership and name have changed, RathGibson remains committed to providing the same high quality products, services, technology, and innovations on which their customers and channel partners depend.
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June 14th  - General Washington D.C. - Chinese steel drill pipe faces stiff US Tariffs after ruling
The U.S. Commerce Department issued preliminary duties of 15.72 percent on Chinese steel drill pipe Tuesday to compensate for subsidies that American companies say their competitors receive. Companies in China's DP Master Group, including DP Master Manufacturing Co. and Jiangyin Liangda Drill Pipe Co., are among producers that will pay the tariff, the department said. U.S. companies such as VAM Drilling USA Inc. and a subsidiary of Moscow-based OAO TMK asked for duties that would top 500 percent on about $119 million in imports of the pipe, used in oil drilling. The United Steelworkers union joined in the complaint. A final decision is scheduled for October. While the case continues, importers of the pipe will need to deposit the 15.72 percent with the U.S. government. Imports of the pipe fell to $119 million in 2009 from $194 million in 2008, according to the Commerce Department.
June 12th  - General Geneva Switzerland - Lamy urges more trade finance for developing countries
Director-General Pascal Lamy, in his keynote address to the Global Commodities Finance Conference in Geneva on 9 June 2010, warned that lower-income developing countries, particularly in Sub Saharan Africa, continue to face “strong constraints” in trade finance despite the return of liquidity to the bulk of trade markets. He said that concluding the Doha Round would significantly reduce “current distortions in the global commodities markets, particularly those that impact on developing countries”.
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June 12th  - General Beijing China - Speculators run for cover as metal prices dive as many construction projects halts.
Zinc smelters in China have idled as much as 8.8% of capacity as prices decline when the Chinese government succeeds to cool the property market. Local researcher and data provider say that about 400,000 tonnes to 500,000 tonnes of the country’s 5.7 million tonnes of annual capacity have been suspended on output cuts and maintenance shutdowns. China is a major consumer of the metal used to galvanize steel The price of copper, used in pipes and wires has slumped 17% this year. Some of the smaller producers have brought forward their planned maintenance to help alleviate cost pressures and reduce the inventories they have on hand. Zinc on the Shanghai Futures Exchange has lost 35% this year, tumbling to as low as CNY 13,900 per tonne while London prices have shed 38% to USD 1,595 per tonne, the worst base metal performer. Stockpiles in warehouses monitored by the Shanghai exchange were 295,454 tonnes last week, the highest level since futures started trading in 2007.
June 11th  - General Johannesburg South Africa - KPMG report on steel is optimistic and in sharp contrast to analysts such as Meps and major players such as Lakim Mittal Arcelor/Mittal that are more cautious.
According to a KPMG International's Global Metals Practice report, the global demand for steel has bounced back strongly with producers now having to find ways to meet the sharp increase in demand. The report said that "As the global steel industry prepares for strong growth in 2010 and beyond, steel producers face the new challenge of meeting a sharp rise in demand for steel products while maintaining profit margins in the face of rising input costs." Early indications of a recovery began in the first quarter of 2009 when capacity utilization began to improve. By the second trimester of 2009, the world steel capacity utilization rate had increased to approximately 75 percent. Total world crude steel production has also shown relatively steady month-on-month increases since April 2009. For full report For full report use this link
June 9th  - General Hamburg Germany - Copper 2010 technical/scientific copper conference opened in Hamburg
Copper 2010 with more than 600 participants the largest symposium for copper worldwide was opened today in Hamburg. For three days specialists from 35 nations will be able to exchange ideas in a total of about 250 contributions and discussions. The range of topics varies from the preparation of the raw materials to the production and refining processes through to product applications and their customer markets. The symposium organiser is GDMB Gesellschaft für Bergbau, Metallurgie, Rohstoff- und Umwelttechnik e.V. (Association of Mining, Metallurgie, Raw Materials and Environmental Technology) in collaboration with five other specialist copper associations from copper-mining countries. Up to now this conference has been held in North and Latin America and is being organised this year in Europe for the first time.
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June 5th  - General Welland Ontario - Lakeside Steel to add shift due to increased demand
Lakeside Steel Inc. said Tuesday it plans to hire up to 12 new full-time workers due to increased demand from the oil and gas industry. The company said it will add an additional shift to its stretch reduction mill due to demand for its tubing, casing and line pipe. Lakeside said it has secured $100 million in additional sales orders that will keep the mill loaded to capacity through September. "We are cautiously optimistic that this strong operational performance will continue over several quarters," Lakeside president and chief operating officer Ron Bedard said in a statement."Lakeside continues to focus on reducing costs, improving our balance sheet and potential opportunities for growth." Lakeside manufactures steel pipe and tubing for oil and gas, mining, automotive and commercial and industrial supply companies.
June 3rd  - General Toronto Ontario - Surprise Surprise University of Toronto study finds steel industry essential to Canadian economy
Steelmaking is an increasingly knowledge-intensive industry, requiring a highly skilled workforce and creating the foundation for a productive modern economy, according to a comprehensive study by industry expert Dr. Peter Warrian of the Munk Centre for International Studies at the University of Toronto. The study, co-sponsored by the United Steelworkers, the Canadian Steel Producers Association and the Canadian Steel Trade and Employment Congress analyzes the history, evolution and future prospects of Canadian steel. "From an employment, value-added and environmental perspective, this is an industry Canadians should want in their future," commented Warrian.
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June 3rd  - General Ottawa Ontario - "Steel Days" promotes Canadian steel industry impact and sustainability
Leaders from Canada's steel industry are in Ottawa this week to meet with Cabinet Ministers, Members of Parliament and senior officials to discuss developments in Canada's steel industry, its economic and environmental performance, and how steel will contribute to a more innovative, geren and sustainable future. Running from June 1-3, Steel Days discussions with policymakers will address the steel industry's public policy interests, and priorities for working with governments to improve the investment and future growth prospects of the industry. Canada's steel and steel tubular products industry employs 30,000 Canadians, generating annual shipments of approximately $14 billion, including about $7 billion in exports.
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June 2nd  - General Moscow Russia - Steel product price from CIS in Middle East keep falling
SteelGuru reports that the prices for steel products from CIS in Middle East has kept falling in recent weeks. Actually, they have returned to the early March level. In particular, semis with the delivery in June are offered at USD 480 per tonne to USD 490 per ton FOB, wire rod and rebar prices fell to USD 530 per tonne to USD 540 per ton FOB. The Ilyich Steel Works of Mariupol keep decreasing the prices and offers HRC at USD 590 per ton FOB and less. Other Ukrainian and Russian mills offer similar products at USD 620 per tonne to USD 665 per ton FOB. However, the traders are looking for the buyers at USD 600 per ton CFR the Gulf and less. Certainly, the lowest prices are offered by trading companies which try to unload the stockpiles and ports. The manufacturers are also very flexible today. In March to April steel output in Ukraine almost reached 3 million tonnes per month, ie the capacities load exceeded 80%. Obviously, the production volume significantly exceeded the real demand.
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June 1st  - General Washington D.C. - Commerce Department amends preliminary determination of Sales at Less Than Fair Value for certain Seamless Carbon and Alloy Steel Standard, Line, and Pressure Pipe from the People's Republic of China
The Department of Commerce (``Department'') has determined that it made certain significant ministerial errors in the preliminary determination of sales at less than fair value in the antidumping duty investigation of certain seamless carbon and alloy steel standard, line, and pressure pipe (``seamless pipe'') from the People's Republic of China (``PRC''). As a result, we are amending our preliminary determination to correct certain significant ministerial errors with respect to the antidumping duty margins for a mandatory respondent and for exporters eligible for a separate rate, the department said.
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May 31st  - General Washington D.C. - Due to United States Memorial Day there is no News Bulletin today
Next News Bulletin will be published tomorrow Tuesday June 1st.
May 28th  - General Brussels Belgium - EU climate change policy back to realism
The European steel industry is relieved by today’s decision of the European Commission not to propose a unilateral EU move from -20% to -30% in EU greenhouse gas emissions by 2020 compared to 1990 levels. “Realism regains some ground in Brussels”, commented Gordon Moffat, EUROFER’s director general. “It would have been absurd to take the economic downturn as justification for more ambitious climate change targets,” Moffat said. “It is already a major achievement that the steel industry was able to keep employment almost stable during the crises while steel production fell by 35% in 2009. To force industry now to keep production below pre-crisis levels would inevitably have severe negative consequences for employment and the European economy as a whole.” Moffat warns that “too stringent measures would only lead to a shift of production or production potential to other regions without any major improvements in CO2 efficiency”.
May 28th  - General Little Rock Arkansas - Mueller Industries cited for exposing workers to hazards
The U.S. Department of Labor's Occupational Safety and Health Administration has cited Mueller Copper Tube Products, a subsidiary of Mueller Industries Inc. in Wynne, Ark., with safety and health violations following an inspection at the company's worksite on North Falls Boulevard. The privately held corporation, headquartered in Memphis, Tenn., owns and operates 20 facilities located in eight states and two foreign countries. Proposed penalties total $70,675. OSHA's Little Rock office began its investigation on Jan. 27. The plant was cited for four serious violations including failing to provide chains on platforms to protect workers from falling, to ensure workers were knowledgeable about the proper use of compressed air, and to repair or maintain electrical conduits. Two repeat safety violations were issued for failing to provide machine guarding and to ensure shafts were adequately guarded. The serious and repeat safety violation penalties total $48,500.The health inspection portion brought seven serious, one repeat and one other-than-serious violation with proposed penalties totalling $22,175. Mueller Copper Tube Products employs about 2,000 workers in Arkansas, California, Florida, Michigan, Mississippi, Ohio, Pennsylvania, Tennessee, Canada and England — about 372 of whom are located at the Wynne facility. In January, OSHA issued three Mueller Industries Inc. subsidiaries in Fulton, Miss., with 128 citations for exposing workers to safety and health hazards. The citations resulted from an investigation in July 2009 after a maintenance worker employed by Mueller Copper Tube Co. was killed and two other workers were injured when naphtha, a flammable liquid of hydrocarbon mixtures, leaked from an electric pump and ignited. The penalties total $683,000, and the company has contested the citations and penalties. The company has 15 business days from receipt of these latest citations to comply, request an informal conference with OSHA's area director in Little Rock, Ark., or contest the citations and proposed penalties before the independent Occupational Safety and Health Review Commission. Source: OSHA
May 27th  - General Moscow Russia - OMK delivers first pipes for Nord Stream second line
Russian steel and pipe producer United Metallurgical Company has announced that its Novgorod-based pipe producer Vyksa Steel Works has delivered the first batch of 3,500 tonnes of large diameter pipes for the construction of the second line of the Nord Stream international gas pipeline. As previously reported, OMK was awarded 25% of the tender for pipe deliveries. Up to April 2011, OMK Vyksa will deliver for this project more than 200,000 tonnes of X70 strength steel pipes of 1,220 mm diameter and of 34.6 mm wall thickness with a three-layered corrosion-resistant external and internal coating.
May 27th  - General Monterry Mexico - Mexico slaps anti-dumping duties on China steel pipe
The Mexican government said on Tuesday it would impose provisional anti-dumping tariffs on steel tubes from China, which it said were competing unfairly in the Mexican market. The economy ministry found in an investigation that Chinese seamless steel tubes, often used for oil and gas pipelines, were entering the country at below-market prices, hurting the national industry. An anti-dumping duty will be applied on steel tube imports that cost less than $1,561 per tonne, calculated as "the difference between the export price and the reference price," the government said in a statement. But the tariffs, which go into effect on Wednesday, should not pass 36 percent. The government started its investigation after Tamsa, the Mexican arm of steel company Tenaris, lodged a complaint. Tenaris, which makes steel pipe for the oil and gas industry, is controlled by Argentine conglomerate Techint and listed on exchanges in Buenos Aires, Milan and New York. The probe is still going on with no completion date set. At the end of the process Mexico could revise its decision.
May 26th  - General London U.K. - China's trade flows increasingly divergent
China's appetite for imported metals is starting to look a lot more patchy, judging by the full April trade figures released on Friday. At one end of the bullish-bearish spectrum is copper. The full trade report merely confirmed what was evident from the preliminary figures released on May 10. The country's imports are still booming. Forget about the headline 8-percent drop in refined imports last month. At 309,772 tonnes they were still the fourth highest on record and cumulative imports over the first four months of this year maintained the frenetic pace of last year's equivalent period. Source Reuters METALS INSIDER-
May 26th  - General Paris France - Alcatel-Lucent squeezes 300-Mbit/s from DSL
Alcatel-Lucent Sa has announced that its research arm, Bell Labs, has demonstrated transmission speeds of up to 300-Mbit/s over 400 meters of a couple of digital subscriber line pairs. DSL typically makes use of orthogonal frequency division multiplexing (OFDM) to transmit digital information at frequencies above the voice band. Bell Labs conducted a test whereby two copper pairs are linked and data is transmitted over an inferred third line in what is called a "DSL Phantom Mode." Bell Labs achieved downstream transmission speeds of 300-Mbit/s over distances up to 400 meters and speeds of 100-Mbit/s at 1 kilometer. This promises to provide a boost for the installed base of copper and defer, yet again, the need to install fiber to the home.
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May 24th  - General Brantford Ontario - Queen Victoria’s Birthday no News Bulletin today
Next Bulletin tomorrow May 25th
May 22nd  - General Washington D.C. - Zhejiang, IUSA victims of AD U.S. duties on Copper Pipe
Zhejiang Hailiang Co. and IUSA SA are among Chinese and Mexican makers of copper tubes subject to import duties imposed by the U.S. Commerce Department yesterday for selling their products at below-market prices. Zhejiang Hailiang, China’s largest publicly traded copper- tube maker, faces preliminary U.S. duties of 58.69 percent, the department said in a statement. Other Chinese makers will pay an average of 34.48 percent. IUSA is subject to 29.52 percent, with other Mexican companies paying an average 30.9 percent. Companies including units of Memphis, Tennessee-based Mueller Industries Inc. and Cerro Flow Products LLC in St. Louis petitioned for the duties in September, saying seamless refined copper pipe and tube were being dumped in the U.S. at a discount or below the cost of production. The tubes are used in plumbing and for carrying liquids or gases in heating or refrigeration systems.
May 21st  - General Washington D.C. - U.S. President Barack Obama travels to Youngstown, Ohio,
Tuesday U.S. President Barack Obama visited Youngstown, Ohio one of the communities hardest hit by the recession. In recent weeks, the president has visited Indiana, Iowa, Missouri, and New York to tout the improving economy and more recently, positive jobs numbers. Youngstown is considered a "Rust Belt" city where steel manufacturing once thrived. But the city has long suffered from a declining economy and a shrinking population. The area has seen some success in recent years by creating high tech jobs. In Youngstown, the president toured the Vallourec and Mannesmann (V&M) Star factory. The plant makes steel pipes for the oil and gas industry. As we reported earlier in February, W&M used economic stimulus funds to expand and create more than 300 jobs. After touring V&M Star, which produces tubular products for the oil and gas industry, Obama delivered remarks on jobs and the economy to plant workers, The White House said.
May 21st  - General Moscow Russia - Difficult find work force for efficient steel Mini-Mills in Russia
With the revival of production growth in Russia, large industrial companies today face a new challenge — how to attract a smart and motivated work force to single-industry towns away from Moscow or other major cities. The pipe business is a perfect example of an industry facing this issue. Since 2005, the Russian pipe industry has seen one or two new major production sites open every year, with each site requiring hundreds of highly qualified and motivated people. Russian pipe makers have spent some $8 billion on constructing new plants — be it large diameter pipe plants, finishing plants or steel melting plants to provide pipe feedstock. Up to 50 percent of pipes produced in Russia today are produced at facilities that are less than five years old. On average, new projects in the pipe industry require about 2,000 new people a year, usually highly qualified workers or young engineers from the best metallurgical universities in Russia, and in some cases foreign specialists. The task of finding new people is getting harder, since most of the modern production units — tube factories, steel melting units and so on — are located in single-industry towns, and the skill sets required to operate these facilities are becoming increasingly sophisticated. The three largest pipe makers have their production plants located in five single-industry towns, scattered across Russia from the Azov Sea to the Ural Mountains.
May 20th  - General Berlin Germany - German Chancellor Angela Merkel declares solo war on speculators.
Germany declared war on speculators on Wednesday, stunning investors with a ban on naked short selling of certain financial instruments and wrong footing its European partners who said they were not consulted. Chancellor Angela Merkel urged the European Union to speed up financial market supervision and introduce a new tax on them, saying Berlin was ready to act alone on a ban on activities which some leaders blame for much of the euro zone debt crisis.
May 20th  - General Lubumbashi Katanga The Democratic Republic of the Congo - Chinese company seeks copper in Congo
China Nonferrous Metal Mining Company is looking for copper-cobalt projects in Congo as it seeks to expand in Africa from its current base in Zambia. “We are interested in mining projects in Congo. We are looking for copper and cobalt,” Zhang Keli, executive vice president, told Reuters on Tuesday. The state-owned group has already established a subsidiary in the Democratic Republic of Congo, which is focused on trading, he said in an interview. The Chinese is also opening up a new mine in Afghanistan (read more in next issue of Wire & Cable Business Review)
May 20th  - General Pittsburgh Pennsylvania - Tube City IMS' UK operation receives Contractor of the Year Award from Corus
Tube City IMS Corporation, a provider of products and services to steel mills and foundries globally, today announced that its subsidiary, Tube City IMS UK, based in Scunthorpe, England, has received the "Contractor of the Year" award from its major customer Corus, a Tata Steel Group company. The award, which recognizes suppliers to the Scunthorpe steelworks who excel in safety performance and customer satisfaction, was presented at Corus' annual Scunthorpe Excellence Awards ceremony in Scunthorpe. This is the first time Tube City IMS has received the award. "We are honored that Tube City IMS UK has been recognized by Corus for safety and customer satisfaction. Our operators are the true winners of this award for their commitment to safety and providing outstanding service to Corus in Scunthorpe," said William Miller, Executive Vice President, Tube City IMS. "We are delighted that Corus considers us a trusted and dependable partner." Marco Gravina, General Manager, Tube City IMS UK, thanked Corus and the employees for the award. "It's an honor to receive such an important and distinguished award that demonstrates our constant commitment to safety and providing excellent service to our customer," he said.
May 19th  - General Osaka Japan - Sumitomo Metals increases price of seamless stainless steel pipes
Japanese steelmaker Sumitomo Metal Industries, Ltd. (Sumitomo Metals) announced that it has begun negotiations to raise pricing of seamless stainless steel pipes for all domestic customers, due to a surge in the price of nickel, a major raw material for these pipes. Accordingly, Sumitomo Metals will increase the price of seamless stainless steel pipes by 10 percent for all domestic customers, including spot sales and long-term contracts, applicable to May 2010 contracts. According to the company statement, the price of nickel has been rising since the beginning of this year. It rose from around $17,637/mt in the latter half of 2009 to over $22,046/mt on average in the February-April period of 2010. Such a soaring price has resulted in a deterioration of the company's profitability in seamless stainless steel pipes, making it necessary to reflect the cost increase to its sales prices. The company said that it will consider an additional price increase for contracts of June 2010 and onward, if the price of nickel continues to rise. Sumitomo Metals' seamless stainless steel pipes are mainly produced at its Steel Tube Works in Amagasaki. The company expects long-term steady demand for the pipes in energy-related areas such as power generation, oil refining and petrochemicals.
May 18th  - General New York City - Copper tube buyers step up orders as China and Mexico face possible AD duties
US domestic copper tubing fabricators are receiving more inquiries and orders as customers seek alternative supplies of seamless refined copper tube and pipe ahead of possible anti-dumping duties on imports of Chinese and Mexican product, AMM reports. "The copper tube dumping case is causing a little bit of additional business. We've been seeing that since March when the preliminary decision was supposed to be finished," according to a source at a copper fabricator. Another agreed. "What we have seen over the last few months is an uptick in requests for quotes from customers who historically have purchased imported products from China and Mexico
May 17th  - General Luxembourg - ArcelorMittal completes $4 billion three-year syndicated loan refinancing.
Steelmaker ArcelorMittal has completed a $4 billion three-year syndicated loan refinancing, banking sources said on Wednesday. The financing replaces an existing $4 billion facility agreed in May 2008 and also replaces a dual-tranche $3.1 billion forward start loan, the first tranche of which was due to start this month, the sources said. The new financing, self-arranged by ArcelorMittal, was signed at the end of last week, two of the sources said. ArcelorMittal declined to comment. The deal pays a margin of 123.33 basis points (bps) over LIBOR, reflecting an average of a three-way rating split, two of the sources said. ArcelorMittal is rated BBB by Standard & Poor's, Baa3 by Moody's and BBB by Fitch. The financing also pays utilisation fees of 25 bps if more than a third of the loan is drawn and 50 bps if more than two- thirds is drawn, one of the sources said. There is a commitment fee of 40 percent of the applicable margin. The new deal reduces Arcelor's interest margin and overall cost of funds from at least 250 basis points on last year's forward start facility, sources said previously. Mandated lead arrangers on the new transaction are BNP Paribas, Bank of America Merrill Lynch, Commerzbank, Credit Agricole, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Royal Bank of Canada, Royal Bank of Scotland, Santander and Societe Generale, sources said.
May 14th  - General Tranås Sweden - Next News Bulletin to be published May 17
Due to local holiday there is no News Bulletin today next News Bulletin will be published May 17.
May 13th  - General Shanghai China - Chinese Steelmakers urged to build plants abroad to avoid trade barriers
Chinese officials and experts Tuesday suggested the nation's steel producers set up plants abroad to avoid a rising number of international trade barriers. Opening steel mills in regions with abundant raw materials and strong market demand abroad would be easier than exporting steel products, as it would bring tax revenues and employment to the areas, Jia Yinsong, an official with the Ministry of Industry and Information Technology, said at an international trade fair for the steel tube industry in Shanghai. China's steel pipe exporters had been frequent victims of protectionism, said Wang Zhenfu, vice director with the Fair Trade Bureau of Import and Export of the Ministry of Commerce (MOC). Data from the WTO showed China's steel producers were named in 29 trade disputes since 2007, involving products valued at 6 billion U.S. dollars. The most serious, in which the United States imposed in April anti-dumping duties ranging from 30 to 99 percent on Chinese steel pipes imports used in oil and gas wells, had curbed steel tube exports to the U.S. by more than 80 percent, said Wang.
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May 12th  - General Washington D.C - Tube makers hail Chinese duties as high as 99 percent
Area makers of steel tubes stand to benefit after federal regulators placed final duties of as much as 99 percent on Chinese steel tube imports, officials said Monday. ''Today's vote will ensure a fair playing field is vital to our nation's global competitiveness. This ruling will save and create jobs in Lorain, Youngstown, Warren and dozens of communities around the country,'' Sen. Sherrod Brown, D-Ohio, said in a statement after the International Trade Commission made its final ruling on the duties for oil country tubular goods imported from China. Brown said the duties will help domestic producers and workers at Wheatland Tube Co., which has a factory in Howland, V&M Star in Youngstown and other producers. Wheatland's Howland factory employs 140 hourly and salaried workers to make electric welded pipe used in the oil and gas industry, along with commercial construction. He noted enforcement of trade laws already benefited area workers by prompting V&M Star's owner to announced a $650 million investment in a new mill in Youngstown, creating 400 construction jobs and 350 production jobs. It also helped attract Ultra Premium Oilfield Services, which said it may employ as many as 120 in a 128,000-square-foot building in Brookfield that formerly housed Sharon Tube. The company is a unit of leading oil and gas tubular products supplier IPSCO Koppel Tubular Corp. in Koppel, Pa. USW President Leo Gerard said that adding the anti-dumping duties to those already being collected since January for Chinese subsidized oil tubular goods will produce an effective 40 percent tariff. ''China's cheating with subsidized, and dumped imports are now going to be a bad deal,'' he said. Trade Counsel Roger B. Schagrin said the 30 percent duties against most Chinese producers should be sufficient to allow the U.S. industry to regain their footing. He added domestic producers are ''particularly pleased'' that one of the largest Chinese producers, Jiangsu Changbao Steel Tube Co., had its margin raised from zero at the preliminary stage to 99.2 percent in the final application because it was found to have falsified documents.'' The ITC vote is the final step in this trade case filed on Apr. 8, 2009. The trade commission's injury hearing in this case was held in December. The Steel Workers said domestic producers had lost 2,421 workers between the end of 2008 and September 2009. The case was the largest China trade case brought by any sector of U.S. industry based on volume and value of imports, the union said.
May 11th  - General Hamburg Germany - Europe has the largest demand for copper wire rod.
European copper product demand is continuing its recovery especially for sales of rod, Aurubis , Europe's biggest copper smelter, said on Monday. "Demand for copper wire rod has picked up in Europe from the prior-year doldrums and the recovery is coming from all sectors," the company said in its May News letter Copper mail. "The enamelled wire industry's increased demand for rod is the result of good sales to producers of white goods," it said. "Demand from the automotive sector is also showing an uptrend." Sales for energy transmission and installation cable also picked up this spring, it said. "The price-related tendency towards substituting copper for aluminium materials was low," it said. "The improved demand is also reflected in the increase in rod production, which has partly returned to the pre-crisis level in Northern Europe." Aurubis had on Friday posted improved half-year profits partly on improved demand. Aurubis CEO Bernd Drouven had told Reuters in April a broad-based recovery in copper product demand was developing. Strong demand was also being seen from Europe's non-ferrous semi-finished products industry including from producers of high-grade strip metal, from mechanical engineering and the automotive sectors, it said. Demand is also stable in the copper tube sector, which traditionally reacts very sensitively to price increases, it added.
May 11th  - General Brookfield Pennsylvania - TMK IPSCO Pipe plans to hire 50 workers
Oil and gas pipe maker TMK IPSCO held its grand opening Friday at the former Sharon Tube Co. industrial area off state Route 7, north of Interstate 80. As we have earlier reported TMK IPSCO signed a lease on the building in February after receiving a tax credit worth approximately $872,000 from the Ohio Tax Credit Authority. The building will house Ultra Premium Oilfield Services, which plans to produce up to 100,000 tons of threaded pipe annually. The company plans to hire 50 people initially and eventually will hire 120 workers at an average pay of more than $20 per hour. Ultra Premium is a unit of TMK IPSCO. President and CEO Vicki Avril said the new facility is in direct response to the growing demand for infrastructure at Marcellus Shale well sites that are located under parts of Ohio and Pennsylvania. "The Brookfield, Ohio, facility was chosen in part because of the location, local industrial infrastructure, the economics and the support of local and state governments, the business development authorities and local Chamber of Commerce," said Piotr Galitzine, TMK IPSCO's chairman. The Brookfield site is approximately 40 miles northwest of TMK IPSCO's existing steel mill in Koppel, Pa.
May 10th  - General Kiev Ukraine - Interpipe subsidiaries boosted steel pipe outputs significantly in past 4 months.
SteelGuru reports that in January to April 2010, the pipe producing subsidiaries of Ukraine Interpipe Corporation increased their steel pipe output by 2.03 times to 244,700 tonnes. Specifically, in January to April 2010, Interpipe NTRP registered a 67.6% YoY increase in its pipe production to 103,900 tonnes, Interpipe NMPP saw its pipe output increase by 78.3%YoY to 54,200 tonnes while Interpipe Niko Tube pipe output rose by 3.08 times to 86,600 tonnes
May 8th  - General Washington D.C. - US Commerce Department plans antidumping duties on Chinese and Mexican pipe
The U.S. Commerce Department made an initial decision Thursday to impose antidumping duties on imports of copper pipe and tube from China and Mexico.Finding that these products are being sold below normal value in the U.S., the Commerce Department set preliminary duty rates of between 10.26% and 60.50% on Chinese imports and from 29.52% to 32.27% on Mexican imports.Last year, the U.S. imported about $233 million of seamless refined copper pipe and tube from China, with imports from Mexico estimated at around $130 million. The case was filed by Cerro Flow Products Inc., Kobe Wieland Copper Products, Mueller Copper Tube Products Inc. and Mueller Copper Tube Company Inc. Once the Commerce Department makes a final determination, expected in September, the International Trade Commission has to find that U.S. producers could be materially harmed by the imports before the duties can go into effect.
May 5th  - General Washington D.C. - USW applauds final ITC vote placing tariffs on oil tubular China imports
The United Steelworkers (USW) applauded today's 6-0 affirmative vote by the U.S. International Trade Commission (ITC) on a petition in the final antidumping portion of a case against imports of oil country tubular goods (OCTG) from China. USW President Leo W. Gerard said today's vote successfully ends a year-long investigation and record of testimony by members of Congress. "We are pleased our government investigated the evidence of China's trade violations and cited stiff penalties. China's state-owned steel pipe exporters are predators seeking to steal American jobs and destroy our domestic industries in violation of their trade obligations." He notes: "When the anti-dumping duties are added to those already being collected since January for Chinese subsidized oil tubular goods, we will have at minimum – an effective 40 percent tariff rate. China's cheating with subsidized and dumped imports are now going to be a bad deal. Consistent and swift U.S. trade law enforcement must be the standard with our trading partners if we are to retain good jobs and rebuild our economic manufacturing capacity."
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May 4th  - General Welland, Ontario - Lakeside Steel inks strategic business alliance with Scot Industries
Lakeside Steel Inc announced that it has agreed to terms with Scot Industries of Wooster, Ohio, on a key business alliance. Under the terms, Scot Industries will provide thermal treatment services for Lakeside Steel. Thermal treatment allows Lakeside Steel to upgrade product produced in Welland to L80, N80 and P110 grades required for the Marcellus Shale. Lakeside previously had this upgrading performed in Texas. With product being upgraded in Wooster, Ohio, Lakeside will now have finished product situated in close proximity to key Marcellus Shale drilling locations.
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May 1st  - General Tranås Sweden - Next news Bulletin May 3rd
Due to the traditional 1st of May Labor Day celebrations there will be no news bulletin this long weekend.
April 30th  - General Düsseldorf, Germany - Dates for wire 2012 and Tube 2012 in Düsseldorf now fixed: 26 to 30 March 2012
Although is is almost 2 years away, the dates are very key to the industry as planning for this event is key. The dates have been set for: 26 to 30 March 2012 will see the two fairs for the wire, cable and tube processing industries held at Düsseldorf Fairgrounds already for the 13th time now. As we look forward to this event, do not forget to check the events page on http://www.wireworld.com/events for all upcoming industry related events throughout the year. In 2010 69,200 trade visitors came to Düsselorf from over 100 countries to gather information on the latest technologies and applications from the over 2,400 companies exhibiting here. 1,219 exhibitors came to wire to present their current machinery, plants and equipment for the production and processing of wire and cable. New materials and innovative manufacturing technologies for tube and tube processing were presented by the 1,181 companies exhibiting at Tube 2010.
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April 29th  - General Washington D.C. - US sets preliminary duties on Chinese steel pipes
The U.S. Commerce Department announced on Thursday last week preliminary anti-dumping duties ranging from 32 to 98 percent on hundreds of millions of seamless steel pipes from China. The decision is a victory for United States Steel Corp (X.N), V&M Star LP, TMK IPSCO and the United Steelworkers union, which filed a petition last year asking for duties to offset what they said was below-market pricing by Chinese competitors. The trade complaint is one of several against China moving through the U.S. system.
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April 28th  - General Hanoi Vietnam - Vietnam may restrict steel imports
According to a recommendation from the Vietnam Steel Association, Vietnam may restrict imports of steel products that can be manufactured domestically to curb reliance on China, Japan and Russia. Mr Pham Chi Cuong chairman of the association which represents 90% of the country’s steelmakers said that Vietnam is able to make products used in construction, such as wire rods, pipes and metallic coated steel and is developing factories to manufacture other goods. Mr Cuong said that “The government should have measures to limit imports of products such as wire rods, pipes and metallic-coated steel that local factories can produce here already.” He added that “Restricting imports will help the government reduce the trade shortfall, curb inflation and boost local production as well as economic growth.” Mr Cuong said that “If we can supply these products domestically, we’ll be able to save at least USD 700 million from paying foreign sellers this year.” The association said that country’s demand for steel products will increase as much as 15% this year because stalled construction projects are resuming as economic expansion quickens. Limiting overseas purchases of some kinds of steel, Vietnam’s third biggest import, will reduce its exposure to rising costs in countries such as China, where benchmark hot rolled steel prices last week reached an 18 month high. Restricting imports may also help Vietnam to narrow the trade deficit and limit the impact of a weakening dong.
April 28th  - General Nashua, New Hampshire - Laser heat treating simplified
ILS Editor-in-Chief David Belforte asked Dr. Vivian Merchant to consider writing a back-to-basics feature on the subject of laser heat treatment because he is uniquely positioned as one of a select group of industrial materials processing professionals who have lengthy background and experience in this field as a process developer, researcher, and practitioner. His response, "Laser Heat Treatment Simplified," describes three processes: laser transformation hardening, laser annealing, and laser surface melting. Each is described in easy-to-understand terms for those who are not metallurgists, but who are charged with improving the wear and fatigue characteristics of metals. We believe the article should be of interest to some of our readers. To view use use this link
April 28th  - General Johannesburg South Africa - New structural tube steel grade introduced by ASTPM
The association of Steel Tube and Pipe Manufacturers of South Africa (ASTPM) and the Southern African Institute of Steel Construction (SAISC) have announced the launch of grade 5355 steel for structural tube. The new grade, which replaces the previous 300 standard, has been designed using international best practice and complies with the minimum standard based on EN10219 Part 1. "This will make a significant difference to the structural steel tube industry as, for the same amount of steel as the previous 300 standard, higher loads can now be resisted," says ASTPM executive director Colin Shaw. "This will render steel tube much more competitive against both other steel profiles and other construction methods like reinforced concrete."
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April 27th  - General Brussels Belgium - EU steel production at stake Eurofer says
Poorly implemented climate policy, raw materials prices and protectionism jeopardize steel value chain in Europe, Gordon Moffat, director general of EUROFER states. “We have now reached a decisive point as to whether steel production has a future in Europe,” warns Gordon Moffat, director general of EUROFER. “If steelmaking is forced to migrate from Europe, others will follow in its stream, such as huge parts of the automotive and machinery sectors, leading to a massive loss in European jobs and expertise. Keeping industrial activity in Europe is essential not only in itself but also for all the business services that industry requires, from R&D to logistics and marketing, which would also be de-located with our industry.”
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April 23rd  - General Beijing China - China shipped 24000 tonnes of seamless steel pipe to the US in January
China Business News reported that in January 2010, China has totally shipped out 24,000 tonnes of seamless steel pipes to US down by 76.32 % YoY. The total export volume in the first two months this year stood at 30,800 tonnes slumping by 81.88%YoY. The Department of Commerce decided to set the final antidumping duties ranging from 29.94 % to 99.14% on more than USD 1 billion of Chinese exported steel pipes in one of the biggest US trade cases on record recently which would impact domestic oil pipe manufacturers a lot. And more than half of the pipe makers in China were on the production reduction in the whole February. As per the report, China has accumulated to yield out 3.26 million tonnes of seamless steel pipes in the first two months of this year up by 9%YoY accounting for 2.78% of the total steel output. It can be seen that China production of seamless steel pipes showed obvious signs of reducing during the same period.
April 22nd  - General Washington D.C. - US factories humming again but unemployment still high
U.S. manufacturers were busy in April as factories ramped up production to rebuild inventories though soft labor markets still point to a relatively slow economic recovery. Data released indicated manufacturing may continue leading growth for a while. Mid-Atlantic factory activity highest in four months and New York state manufacturing is at six-month high. With the manufacturing sector accelerating, it's likely the overall economy will continue to grow at an above trend growth for the time being, economist suggests. The handoff from fiscal policy to underlying domestic growth should happen at some point this year. Expansion in manufacturing was highlighted by the New York Federal Reserve's "Empire State" general business conditions index which rose to a six-month high.But there was still plenty of slack in the labor market. Initial claims for state unemployment benefits rose 24,000 to a seasonally adjusted 484,000 last week. A Labor Department official attributed the spike to a backlog in applications from the Easter holiday and saw no unusual economic factors. Labor market sluggishness has raised doubts about the durability of the economy's recovery from its worst downturn in 70 years. Firming domestic demand is reducing some of the skepticism, however.
April 21st  - General Tokyo Japan - Furukawa outlines Medium term management plan.
Furukawa Electric Company Ltd is pleased to announce the following overview of ´´New Frontier 2012´´ a medium term management plan the company has developed for the period 2010 – 2012. Under the new plan the Furukawa Group will take the following action based on its philosophy of ´´Contributing to the realization of a sustainable society through continuous technological innovation, drawing on more than a century of expertise in the development and fabrication of advanced materials´´ and its managements vision of transforming itself into ´´a more profitable innovative and dynamic global presence. For details of the plan use use this link
April 19th  - General Tokyo Japan - Sumitomo Metals to expand SG tube capacity
Sumitomo Metal Industries Ltd has decided to expand the production capacity at its Steel Tube Works in Amagasaki, Hyogo Prefecture for steam generator tubes to be used in pressurized water reactor PWR nuclear power plants. By this investment, Sumitomo Metals will increase the production capacity of SG tubes by approximately 2.7 times the actual production in fiscal 2008. The investment amount is approximately JPY 14 billion and increased production is scheduled to start in April 2013. On the back of this investment, triggered by worldwide growth in electric power demand and the need to reduce carbon dioxide emissions, there has been a surge in the construction of nuclear power plants. In this environment, demand for SG tubes is expected to exceed the production capacity of the only three suppliers in the world, namely, Sumitomo Metals, Sandvik AB (Sweden), and Valinox Nucléaire (France). It said “Sumitomo Metals has been receiving the bulk of orders for SG tubes to be used in advanced nuclear power plants categorized as the third generation. We also received orders for Vogtle, the nuclear power plant in Burke, Georgia, U.S.A., for the additional construction of two units. This is the first nuclear project to use federal loan guarantees that US President Obama announced this February. We expect to continue receiving orders from the U.S.A., China, South Korea, and other countries for SG tubes to be manufactured in and after 2013, as our production schedule is tight up to 2012.” Outline of Investments 1. Amount - Approximately JPY 14 billion 2. Major areas of capacity expansion - Cold working facility, finishing facility, and inspection facility 3. Start of increased production - April 2013 SG tubes used in PWR nuclear power plants. The tubes are used for heat exchange which is a process of generating steam when hot water heated in the nuclear reactor is conducted from the first cooling water zone to the second cooling water zone. Those tubes are used at the critical core part of the PWR plants. They are made of high-priced materials with a nickel content of 60% and a chrome content of 30%.
April 17th  - General Tranås Sweden - Is Nexans seriously concerned about climate change or just making hay when the sun shines
In response to our news item Nexans makes all its business flights CarbonNeutral ® Purchasing carbon offsets will support reforestation project in Tanzania. Winston Sardine in Ontario wrote: Hi All: I like to draw your attention to a recent in-depth article by Andrew McKillop titled " ". Is Green Energy Credible This article clearly points out the numerous flaws & false manipulations of people across the globe re this hysterical & paranoid vision of things to come by the alarmists who have gained control of the politicians & mainstream media in our industrialized countries . I believe however that the tide is beginning to turn as more & more people come to realize the enormity of the costs to " we the average person " who will bear the brunt of the TRILLIONS & TRILLIONS it will take to put a comprehensive & universally acceptable clean/green energy transition plan in place on a global scale ! Editors comment:Wire News aims to remain politically independent and will within reason on controversial issues publish letters to the editor regarding news items published. In our recent issue of our Magazine Wire & Cable Business Review distributed at Wire 2010 this past week the publisher writes: Concerns about climate change effects our industry, positively for some who can take advantage of the green wave, such as cable makers, connecting the many new wind farms under construction to where the power is needed. Others like steel producers in Europe are negatively affected by stringent CO2 emission legislation. This since the UN conference on climate change ended in confusion, failing to create the level playing field so many had hoped for.
April 17th  - General Beijing China - China condemns US duties on steel pipes
China´s reaction on the US decision to slap trade sanctions on Chinese pipes was swift. The response came as Chinese President Hu Jintao attended a nuclear security summit hosted by President Barack Obama in Washington, and amid tension over trade imbalances between the two countries. Hu Jintao condemned the US action as "protectionist", but did not say if it would retaliate. The US Commerce Department said last week it had made a "final determination" in the antidumping duty probe on imports of Chinese tubes used in oil and gas wells, which were valued at around 1.1 billion dollars in 2009.
April 16th  - General Washington D.C. - United States slaps tariffs on Chinese steel pipes
American producers, including U.S. Steel Corp., are triumphing an announcement from the U.S. Commerce Department, which imposed anti-dumping duties to impact about $1.1 billion of Chinese steel pipes annually. This regulatory decision marks one of the largest U.S trade complaints filed on record against China, whereby imports of circular-welded, carbon-quality steel pipe entering the United States will incur 30 percent to 99 percent in trade tariffs. “China’s government and exporters are being told we are fed up with their cheating on our fair trade laws and penalties for these transgressions are long overdue,” said United Steelworkers (USW) President Leo Gerard in a statement after the decision. USW has been spearheading the inquiry and represents the largest steel labor union in North America with 705,000 members. Other U.S. producers that championed the inquiry include U.S. Steel, Maverick Tube Corp., Evraz Rocky Mountain Steel, TMK IPSCO, V&M Star LLP, V&M TCA, and Wheatland Tube Corp. Imports of pipes are usually used in oil and gas wells. Thirty-eight Chinese companies, including Tianjin Pipe International Economic and Trading Corp., must pay a 29.94 percent tariff, while Jiangsu Changbao Steel Tube Co. and remaining producers are charged 99.14 percent. “We pretty now much have a minimum 43 percent duty against every OCTG (oil country tubular goods) import from China," said Roger Schagrina, the attorney representing the steelworkers and five of the seven companies involved in the U.S. inquiry, in an interview with Reuters. The decision also coincides with U.S. oil and natural gas industry plans to gear up production and should help thousands of laid-off workers in the OCTG, steel, ore-iron, and coking sectors get their jobs back, he said. The U.S. International Trade Commission in December 2009 determined that the Chinese government was subsidizing the pipe producers, and set duties currently being collected at levels ranging from 10.3 percent to 15.8 percent on top of the prices the steel pipe was being sold for in the United States. However, if the commission reevaluates domestic producers to be adequately buffered from the lower-priced Chinese imports, anti-dumping duties may be stopped. The U.S trade watchdog’s decision was made on the eve of Chinese leader Hu Jintao’s visit to Washington for an unrelated agenda—the Nuclear Security Summit hosted by President Barack Obama. The Chinese communist regime is no stranger to such trading protection schemes, given that a record number of such instances are occurring worldwide, says the World Bank. According to the Commerce Department’s statistics, China is the second-biggest trading partner of the United States after Canada, and its trade surplus stood at $226.8 billion with the United States in 2009, which is in excess of the combined deficit the United States owes to its next nine largest trading partners. In summary, the Chinese opted for a trade deficit with the rest of the world to accumulate a surplus against the United States. Trade tensions between the United States and China have been intense, from Google Inc. pulling out of its China operations, to import tariffs imposed on tires and anti-dumping duties being imposed on U.S. chicken feet into China (the largest market for U.S. chickens). In hindsight, the trading pattern of China does denote that the country is still somewhat reliant on the American market.
April 16th  - General Dusseldorf Germany - Tenth of thousands of international visitors to wire and Tube 2010 stuck in Germany for now because of Icelandic volcano
Frankfurt airport was closed Friday April 16 morning as result of the ash cloud over Europe from the Iceland volcanic eruption. Frankfurt will stay closed for an “undetermined period” says DSF air traffic control in Germany. Other German airports closed include Frankfurt-Hahn, Hamburg, Bremen, Hanover, Muenster/Osnabrueck, Dusseldorf and Cologne. For continuing coverage of airport confusion caused by the ash cloud today, use this link
April 10th  - General Washington D.C. - Copper and Brass Fabricators Council expresses need for regulatory action to address price volatility in copper markets.
In a public meeting held today by the Commodity Futures Trading Commission ("CFTC"), Jeffery Burghardt, Vice President of North American Metal Procurement and Global Utilities of Luvata Buffalo, spoke on behalf of the Copper and Brass Fabricators Council ("Council") regarding the unprecedented volatility in prices for copper over the last several years. The CFTC set this public meeting to examine futures and options trading in the precious and base metals markets and focused on trading in gold, silver, and copper. In his remarks, Burghardt noted that the price of copper has risen by more than 100 percent since the end of 2008 even though the quantity of copper stored in warehouses also increased substantially over the same period. Â "By all rights," Burghardt observed, "the greater supply of available copper should have led prices to decline rather than more than double. The Council believes that the explanation for this counterintuitive pricing lies in investment firms' large positions in the markets. What the Council seeks is lower volatility and market prices that reflect over time the real demand/supply situation, not the excesses of speculation."
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April 7th  - General Vancouver, Washington - Northwest Pipe hires new CEO to focus on resolving accounting investigation.
Welded steel pipe company Northwest Pipe on Friday accepted the resignation of its CEO and hired a new one as an internal investigation over accounting issues continues. Brian Dunham will continue to serve as president and a member of the company's board, the company said. Replacing him as CEO is Richard Roman, who has been president of private investment company Columbia Ventures Corp. since 2002. Roman, a board member since 2003, is a member of the board's audit committee. The committee has been leading the internal investigation over accounting matters, including certain revenue recognition practices. Roman's initial focus as CEO will be to achieve a resolution of the accounting issues, the company said. The company said hiring Roman will free up Dunham to concentrate on the company's day-to-day operations.
April 2nd  - General Brantford Ontario - Happy Easter
Next news Bulletin will be posted Tuesday April 6
March 30th  - General Shanghai China - Rio Tinto iron ore negotiators fined, jailed and fired
A Shanghai court found Australian executive Stern Hu at mining giant Rio Tinto Group guilty of charges he accepted bribes and stole commercial secrets, ordered restitution of the bribes, fined him and sentenced him to a combined 10 years in prison. The Shanghai No. 1 Intermediate People's Court also ruled on similar charges against three Chinese-national Rio Tinto employees-Liu Caikui, Wang Yong and Ge Minqiang- sentencing them to between seven and 14 years each. "Receiving bribes is a clear violation of Chinese law and Rio Tinto's code of conduct," says Sam Walsh, head of Rio Tinto's iron ore division, in the statement. "We have been informed of the clear evidence presented in court that showed beyond doubt that the four convicted employees had accepted bribes. By doing this they engaged in deplorable behavior that is totally at odds with our strong ethical culture."
March 27th  - General Geneva, Switzerland - Trade to expand by 9.5% in 2010 after a dismal 2009, WTO reports
After the sharpest decline in more than 70 years, world trade is set to rebound in 2010 by growing at 9.5%, according to WTO economists. “WTO rules and principles have assisted governments in keeping markets open and they now provide a platform from which trade can grow as the global economy improves. We see the light at the end of the tunnel and trade promises to be an important part of the recovery. But we must avoid derailing any economic revival through protectionism,” said Director-General Pascal Lamy. Exports from developed economies are expected to increase by 7.5% in volume terms over the course of the year while shipments from the rest of the world (including developing economies and the Commonwealth of Independent States) should rise by around 11% as the world emerges from recession. For full press release use this link
March 27th  - General Jeddah Saudi Arabia - Saudi Steel achieves record production
Saudi Steel Profile Co., a leading steel manufacturer in Saudi Arabia, has achieved record production capacity utilization by manufacturing 143,815 tons of hot rolled sheets and pipes/tubes at its SSP1 plant in Jeddah in 2009, an increase of 121 percent, against 65,142 tons in 2006. The company has also repaid SR90 million debt to Saudi Hollandi BankSaudi Hollandi Bank Mohamed H. Zakaria, CEO and general manager of Saudi Steel, said he hoped the company would be debt-free by the end of the year, adding that the company, a wholly owned subsidiary of Ahmed Salem Bugshan Group Ahmed Salem Bugshan Group , is working to increase its combined plant capacity to one million tons per annum by 2013 from current 600,000 tons per annum. The company has three plants in Jeddah and two in Yemen. Its long-term goal is to be an SR1-billion company by 2015.
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March 27th  - General Washington D.C. - Chinese steel dumped in the U.S. market Steel executives tell congress.
Steel industry executives told a congressional hearing Thursday the government must strengthen laws against Chinese steel dumped in the U.S. market, end China's currency manipulation and craft an industry-sensitive energy policy to generate a meaningful economic recovery. "We are in a trade war; we just haven't shown up for it," Daniel DiMicco, CEO of Nucor Corp., said at a Congressional Steel Caucus hearing in Washington. "For too long, our government was complacent about China's illegal and abusive trade policy." Nucor, the largest U.S. steelmaker by 2009 sales, said Congress should pass legislation that would let companies petition for higher duties on Chinese imports to compensate for the effect of a weak currency, DiMicco said. China deliberately weakens its currency to make exports cheaper in the United States, DiMicco said.
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March 26th  - General Luxembourg - ArcelorMittal Algerian seamless tube mill cry foul over ENAGEO contract award
Reuters reported that ArcelorMittal's Algerian operations, which produces pipes and tubes for the oil and gas industry, has lodged a complaint with a state owned firm, saying it unfairly missed out on a contract. In a document obtained by Reuters, ArcelorMittal Pipes and Tubes Algeria Spa appealed a decision by Entreprise Nationale de Geophysique ENAGEO, a state-owned hydrocarbon exploration firm, to award a contract to a private firm called SARL Karep. The contract was for about USD 140,000 worth of steel pipes. The document said that ArcelorMittal said “The winning bidder was planning to import the pipes while ArcelorMittal would produce them from scratch at its plant in Algeria. Its bid was 9% more expensive than the winner's, but it should have won because the law gives preference to domestically produced goods even if they cost up to 15% more.” An ArcelorMittal spokesman confirmed the appeal, but declined to give further details. Observers say it is possible that it may reconsider its decision and accept ArcelorMittal's appeal. ArcelorMittal's main asset in Algeria is a steelmaking plant near the town of Annaba. It produced about 750,000 tonnes of flat and long steel products in 2009, most of it destined for Algeria's domestic market, but with some also exported.
March 25th  - General Milan Italy - Hydro at Mostra Convegno Expocomfort
Hydro is going to present many of its innovative aluminium tubing products to HVAC&R industry visitors at the Mostra Convegno Expocomfort in Milan. The week-long exhibition kicks off on March 23. TOP: Hydro is the leader in the field of aluminium solutions for automotive and non-automotive heat transfer applications, including for the heating, ventilation, air conditioning and refrigeration (HVAC&R) industry. Mostra Convegno Expocomfort (MCE) is one of the most important events in the HVAC industry, and an indicator of new trends in technologies for energy efficiency. Innovation, comfort, energy efficiency and saving will be the main themes at MCE, which is being arranged at the Fiera Milano exhibition area. Hydro is attending MCE as the global market leader in the field of aluminium solutions for automotive and non-automotive heat transfer applications. In January, Hydro launched its HVAC&R Service Center to provide customers with the opportunity to find standardized sizes of aluminium tubes and fins, combined around intelligent and corrosion-proof packages. Solutions include Hydro's all-aluminium heat exchangers, which exhibit performance advantages due to their design and also material benefits, such as lighter weight and higher corrosion resistance, compared to the classic copper tube and aluminium fin heat exchangers.
March 23rd  - General Shanghai China - Rio Tinto case a litmus test for working with China
The outcome of a criminal trial that opens in a Shanghai courtroom Monday will be closely watched by those whose fortunes depend on the political and business climate in the world's third-largest economy. The defendants are four officials of Australian miner Rio Tinto Ltd. who have been detained since July when they were arrested by the Chinese on charges of stealing business secrets. The allegations came during stalled negotiations over the prices Chinese steelmakers would pay to Rio Tinto and other producers for iron ore.
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March 23rd  - General Shangha - Late breaking news Australian Rio Tinto executive reportedly pleads guilty to bribery
Australian Rio Tinto executive Stern Hu has reportedly pleaded guilty to bribery charges in a Shanghai court. According to a report on the Bloomberg wire service, Mr Hu has pleaded guilty to accepting bribes. Stern Hu and three of his Chinese colleagues also face charges of offering inducements to Chinese steel companies in order to receive sensitive commercial information. That portion of the trial expected to be held on Tuesday will be heard in secret.
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March 22nd  - General Washington D.C. - Why is America the worlds biggest importer of steel?
Ms Michelle Galanter Applebaum of Steel Market Intelligence said that President Obama's State of the Union speech made both manufacturing and steel front page news. Reviving the US export economy was a dominant theme in the speech, but one that struck me as an attempt to change the end result of years of dysfunctional policies without addressing the dysfunctional policies themselves meaning it's destined to fail Ms. Applebaum said. She continued: While Obama's comments were followed up pretty quickly with specifics from US Commerce Secretary Mr Gary Locke for export financing, expansion of local services in fast growing economies and finally combating unfair foreign barriers to US made products, I believe it’s absurd and even arrogant to expect to be able to export our products into other countries when we can’t even defend our markets here at home.
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March 19th  - General Tokyo Japan - Sumitomo Metal to hike seamless pipe prices by 20percent
Japan's third biggest steelmaker Sumitomo Metal Industries Ltd, a maker of seamless pipes, said it was in talks with Japanese customers to raise pipe prices by 20% from April 1. Sumitomo Metal said the price hike is aimed at offsetting rises in costs of raw materials such as coking coal and iron ore. According to the company's statement, steel demand has been and is expected to keep increasing in China and in other East Asian markets. Under this environment, the rising trend of raw material prices has been intensified. A surge in prices of major materials such as iron ore and coking coal appears to be inevitable, while auxiliary materials such as ferroalloys are also rising. Sumitomo said that “Demand for seamless pipes hit bottom in the first half of the fiscal year 2009-10. Export demand for seamless pipes in the energy-related sector is on a recovery track, while domestic demand is also gradually increasing with a recovery seen in the construction machinery and industrial machinery sectors as regards manufacture of export products. Under the circumstances, this pricing revision will enable Sumitomo to ensure stable supply of seamless pipes.”
March 18th  - General Duesseldorf Germany - Industry looks to Tube 2010 full of expectations
Just under four weeks to go until doors open. wire 2010 and Tube 2010, the two No.1 trade fairs for the wire, cable and tube processing industries will be presenting forward-looking technologies, current techniques and latest services in the exhibition halls on the Rhine from 12 to 16 April. For the twelfth time now the International Wire and Cable Trade Fair (wire) and the International Tube and Pipe Trade Fair (Tube) are to be held concurrently at Düsseldorf fairgrounds. The sector has moved out of the trough of 2009 and now looks to Düsseldorf expectantly. Being leaders in their respective fields, both trade fairs have succeeded in increasing their exhibitor numbers over the record year 2008!
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March 18th  - General South Bend Indiana - Lock Joint Tube facility evacuated after machine sparks fire
It was a tense situation Monday afternoon when a fire broke out at a South Bend business that manufactures custom steel tubing. The Lock Joint Tube facility on Walnut was evacuated when a machine sparked a fire in an air handling unit. Firefighters had to wait to enter the building until the electricity was shut off because they were worried dust particles could ignite and cause an explosion. Luckily there was no explosion, no one was hurt, and firefighters got the blaze under control. Another Lock Joint Tube facility on Ireland saw two fires just last year -- one in August and another in September.
March 17th  - General Liverpool U.K. - Yorkshire Copper Tube celebrating 60 years of copper tube innovation.
Yorkshire Copper Tube is flying the flag for UK manufacturing with 60 years of innovation and excellence. The leading supplier of copper tubing, which operates one of the most sophisticated plants in the world, is celebrating six decades of copper tube production at its plant in Kirkby near Liverpool Yorkshire Copper Tube has more than 200 employees at the site and is planning celebratory anniversary events throughout 2010 with customers, staff and the local community. Jack Wallace, UK Sales Director, said: “Advancements in manufacturing methods, sophisticated quality control techniques, and continuous investment are the hallmarks of 60 years of successful production for Yorkshire “There have been many changes over the past six decades but our commitment to ongoing improvement remains the same.” 2010 celebrations hit the road Yorkshire Copper Tube will be hitting the road this year and has already put pen to paper to sign up for three appearances at PHEX, which is held at venues across the country.
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March 16th  - General Cleveland Ohio - Lincoln Electric’s New Pipeliner ® 80Ni1 MIG Wire
Lincoln Electric has introduced new Pipeliner ® 80Ni1 MIG (GMAW) wire to its line of Pipeliner ® consumables developed to meet the rigorous demands of the global pipe welding industry. It is designed for semi-automatic or automatic welding of root, hot, fill and cap passes on up to X80 grade pipe and root passes on up to X100 grade pipe. Pipeliner ® 80Ni1 is capable of producing impact properties of 69 – 95 J (51 – 70 ft•lbf) at -50°C (-58°F) to meet the demands of tough pipeline jobs. This new wire increases productivity with enhanced arc characteristics and provides optimal wire placement for narrow groove joint configurations. All Pipeliner ® products feature ProTech ® foil bag packaging to ensure reliable performance and are manufactured to lot control standards and tested per AWS A5.01, Class S4 Schedule H. Actual certificates of test available at www.lincolnelectric.com. For more information, visit www.lincolnelectric.com to obtain Bulletin C1.100.4. The Lincoln Electric Company, headquartered in Cleveland, Ohio, is the world leader in the design, development and manufacture of arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market.
March 15th  - General Santiago Chile - State Grid of China and Quadra Mining to develop Chile copper mines
According to a statement issued State-owned public utility, The State Grid Corporation of China (SGCC), plans to cooperate with Canadian miner Quadra Mining Ltd and jointly develop copper mines in Chile, to secure raw material supplies for electric cables and to expand its investment portfolio with Quadra. State Grid International Development Ltd (SGID), a wholly owned subsidiary of SGCC, will form a 50-50 joint venture with Quadra to develop and operate Quadra's Sierra Gorda project, Franke Mine and other copper assets in Chile. The Sierra Gorda project and Franke Mine are valued at $900 million in assets, said the Quadra statement.
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March 13th  - General Kolkata, India - Indian steel pipe industry expected to enter fast track
With the global economy resusciating and companies in the oil and gas sector going for significant capital expenditure, the Indian steel pipe industry is expected to enter into the fast track, according to a survey of Credit Analysis and Research Ltd, a premier credit rating agency As the latest data speaks, about 317,715 km pipelines, valuing 95 billion Dollars, will be laid all over the globe in the next five years. Indian companies with geographical advantage, lower conversion costs and certifications and accreditations in place are expected to benefit from this spurt in demand. In addition to this, domestic opportunities are also very bright in view of creation of National Gas grid.
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March 12th  - General Brantford Ontario - Molybdenum prices to rise on market uncertainty
Record nickel prices are one of the key drivers. Scarce inventory has forced ThyssenKrupp AG, the world's largest stainless steel manufacturer, to start reducing the company's use of nickel. Further cuts are being contemplated. Finnish austenitic provider Outokumpu plans to increase production of ferritic stainless steels. Ferritic steels continue to use molybdenum, but are nickel free. Outokumpu recently released a low-alloyed duplex stainless steel, trademarked LDX2101, with low nickel content, but balanced with manganese, nitrogen and molybdenum. Allegheny Ludlum began campaigning for greater manganese use earlier this year in stainless steel products. According to the International Stainless Steel Forum, the fastest growing type of stainless are those grades absent the nickel content, or with lesser nickel in the composition.
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March 10th  - General Bridgeville Pennsylvania - Universal Stainless announces base price increases
Universal Stainless & Alloy Products, Inc. Monday announced base price increases of 3% to 5% on all stainless and low alloy grade products manufactured at its Bridgeville and Dunkirk facilities. The increase will be effective for all new orders entered March 15, 2010. Current material and energy surcharges will remain in effect. Chris Zimmer, Vice President of Sales and Marketing, commented, "We are committed to providing our customers high quality steel with industry leading delivery performance and lead times. This price adjustment is necessary to support our ongoing reinvestment into our facilities to better serve our customers."
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March 9th  - General Brantford Ontario - Stainless steel buying returning but at lower level
Moderate growth in metalworking this year could boost supply of stainless steel by as much as 19% to 1.64 million net tons in the U.S., forecast Charles Turack, vice president of sales and marketing for Outokumpu Stainless in New Castle, Indiana. However, this compares with a 26% decline in 2009 to 1.37 million tons-and will keep purchasing well below the 2.27 million ton annual average in 2000-2008. "Stainless steel sales are showing some improvement as funding for maintenance and repair projects in such key markets as chemicals and plastics processing are being released," Turack tells the Toll Processing ‘10 conference in Orlando sponsored by the Fabricators & Manufacturers Association. "However, stainless steel buying by end users continues to be only for what's needed to fabricate against the end-product order books." Still he admits he is somewhat more bullish than a recent Steel Market Research forecast of 10% growth in purchasing by stainless steel buyers in the U.S., Canada and Mexico who cut their invoiced by 23% as a group in 2009.This editor suggests that the slow recovery may have it roots into the extreme prices for nickel some years ago that led manufacturers to redesign and look for material substitutes.
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March 9th  - General Duesseldorf, Germany - Wire and Tube 2010 on successful course
Tube 2010 is sold out in terms of space. The event will occupy all available space in Halls 1 to 7.0. - almost 21,500 square feet more than at the Tube 2008 staging. The wire 2010 exhibitors will present their products on 553,630 square feet of net exhibit space in Halls 9 to 12 and 15 to 17. This represents a decrease of about 23,600 square feet due to booth size reduction by several companies. However, with 1,135 companies from 49 nations, the number of exhibitors at wire 2010 has already exceeded the final results of wire 2008. The participation of an aluminum manufacturer from Mexico will be a highlight. In addition, companies from Egypt, Estonia, Columbia and the United Arab Emirates will take part in the wire trade fair for the first time. More than 70,000 visitors from around the globe are expected to attend both events in order to establish new international contacts, conduct business and get inspiring stimulus for their companies in 2010 and beyond.
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March 6th  - General West Tongling China - Copper demand is ‘Weak’ in China now, Tongling says
Copper demand in China, the world’s largest consumer of the metal, is “weak” because of lackluster consumption from the power industry, Tongling Nonferrous Metals Group Co. said.“From what we learned from our customers, copper demand is now weak,” Chairman Wei Jianghong said today in an interview in Beijing. Tongling is the country’s second-largest copper smelter. Demand “isn’t very strong,” Li Yihuang, chairman of bigger rival Jiangxi Copper Co., also said today. Slowing demand in China may indicate stockpiles in the country may continue to climb after reaching the highest level in more than seven years in February. Goldman Sachs Group Inc. last month ended its recommendation to bet on higher copper prices because of concern that economic recovery in developed markets isn’t on “solid footing.” “About 60 percent of copper is used in the power industry, and our sales to wire-and-cable users reflected that demand is rather weak,” Wei said, while attending the National People’s Congress.
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March 5th  - General Moscow Russia - ChTPZ and Metalloinvest ink cooperation agreement for 2010
One of the largest Russian pipe producers, ChTPZ Group, has announced that it has signed a strategic cooperation agreement for 2010 with the Russian iron ore and steel producing company Metalloinvest Holding. The agreement was inked at the coordinating council held at ChTPZ within the framework of the long term partnership agreement between the companies. Accordingly, the main topic of discussion at the council was the increase of output and the improvement of the production technology for large diameter continuous cast billets and for strips for tubing to be used for the second phase of Transneft East Siberia-Pacific Ocean oil pipeline project. ChTPZ statement said "We see the future of our business relations in efficient joint activity for the development of new products. Both companies are currently implementing large-scale projects with state aid for the modernization of existing and construction of new production facilities. In the future this will give us additional opportunities for cooperation."
March 3rd  - General Brantford Ontario - “Happy days are here again”
There have been some good news lately. Malaysia we read is booming. Australia’s central bank raised interest rates to combat possible inflation and Australia’s resource sector is digging and shipping its resources to Asian customers. In North America and Europe unemployment is still a concern as employers are reluctant to increase the work force. Canada is in a state of post Olympic euphoria having seen its athletes pocketing more gold medals than any other nation firmly entrenching the country’s position as the world’s leading Hockey Nation. Wire & Tube 2010 is shaping up to be a record event. Currencies, or rather the value there of, is a concern as sovereign debt load and the prospect, that austerity measures may kill the prosperity before we had a chance to enjoy it. But on the balance tomorrow looks better than yesterday.
March 3rd  - General Las Vegas Nevada - CSI CEO says steel industry needs to watch 'False Starts'
In a state-of-the-industry address at the National Association of Pipe Distributors’ annual convention in Las Vegas, CaliforniaSteel Industries CEO Vicente Wright said the most important thing for the American steel industry to monitor right now is real demand. Unfortunately, he said, no one has a clue how good real demand is, Steel Business Briefing reports. “I believe distributors pushed inventories to excessively low, low levels,” he said in a presentation to the gathered NASPD members. “If there’s any improvement in real demand, we could see a buying surge that will lead to a general scarcity in raw steel.” Disappointing news from the construction industry signals more rough times ahead, though a rising rig count and automotive demand could mean hope on the horizon, he said. “I do believe the bottom has passed us. I do believe we must be cautious moving forward. And I do believe we must beware of false starts.”
March 2nd  - General Portarlington Ireland - SIAC Butler’s Steel letting 55 staff go from its Laois facility
Construction and engineering group SIAC is letting go 55 workers from its structural steel business. SIAC Butler’s Steel in Portarlington, Co Laois, is cutting its workforce by almost half as a result of the construction slump. The company manufactures and supplies steel girders and other components used in building. It will cut its workforce from 123 to 68 as a result of the redundancies. The company told its staff the news earlier this week. The nature of its business means that SIAC Butler’s Steel depends mainly on big building and engineering projects, either publicly-funded or commercial. The virtual shutting off of credit means that there is little or no commercial activity either in Ireland or in Britain, to where it began exporting over the last decade. Over recent months the company agreed new terms with its workers that allowed it to cut shift allowances and other extra payments. SIAC bought Butler’s Steel out of receivership in 1996, and grew the business as the Irish construction industry boomed. The firm pursued its own contracts as well as supplying structural steel used on projects where its parent was the main contractor. During that period it expanded into Britain with a number of purchases, including a company in Gloucester, which gave it a foothold in the midlands and north of England. SIAC is one of the biggest construction and civil engineering groups in Ireland.
March 1st  - General Wellington New Zeeland - Pacific Steel announces price increases
Farmers and construction companies will face higher costs after New Zealand's only producer of reinforcing steel and wire puts up its prices next Monday. Pacific Steel Group is raising the price of its reinforcing steel bar and wire rod products by 7 per cent to 9 per cent, due to the rising cost of steel scrap and a weaker New Zealand dollar. Pacific Steel, a division of Fletcher Building, supplies largely to the building trade and fencing wire distributors. The firm is the country's largest recycler of steel and all its products are made from locally sourced scrap. But it must still compete with overseas buyers who use the international price for steel. Pacific general manager Ian Jones said the price was being affected by several factors, including continued demand in China, improved demand in the United States, and rising iron ore prices. The move partially reversed a fall in prices for steel bar and wire rod products last year when commodity prices fell. Wellington-based Steel & Tube said it would be affected by the price rise because it bought and distributed Pacific Steel products. Steel & Tube's chief executive, Dave Taylor, predicted steel prices would trend upwards in the next year and he expected other steel providers would follow suit as the industry struggled to realign supply with demand. "I actually think there will be tremendous volatility over the next 12 months in some of the steel prices."
February 27th  - General Brantford Ontario - How do you run a company where ownership changes in milliseconds.
They used to be named day-traders but now there is a new breed of traders that buy and sell again within milliseconds On any given day, electronic upstart Infinium may trade more shares of TSX heavyweights than any of the big-bank investment dealers. Is this creative disruption of market tradition—or just plain destruction? "Look," says Sergei Tchetvertnykh, pointing at a flashing spreadsheet on his desktop's screen. "I just made $82,000 in one second." The co-CEO of the Toronto-based electronic trading firm Infinium Group isn’t exaggerating. A second is now a very long time in financial markets, thanks to computer algorithms. Traders can gather and interpret market data, and buy or sell securities in response, in milliseconds (thousandths of a second) or even microseconds (millionths of a second). Not every second is that successful, of course, and there can be many reversals over a few hours. On a typical day, Infinium, with offices in Toronto, San Francisco, London and Barbados, executes between 500,000 and one million trades of stocks, options, currencies and other financial instruments worldwide. Measured by volume of shares, it is often the largest single trader of major companies listed on the Toronto Stock Exchange—more active, in other words, than any of the otherwise dominant investment dealers owned by Canada’s Big Five banks.
February 27th  - General Washington D.C. - U.S. slaps duties on Chinese pipe
The Obama administration has imposed preliminary duties averaging 12 percent on $382 million of steel pipe imports from China after companies including U.S. Steel Corp. complained of unfair subsidies. Chinese pipemakers are being subsidized by the Beijing government, the U.S. Commerce Department said in an e-mailed statement Wednesday. Tariffs to compensate U.S. companies will range from about 11 percent to 13 percent on the pipe, which is used in chemical, petrochemical and refinery plants, the Commerce Department said. China, which ran up a $227 billion trade surplus with the U.S. in 2009, has been the subject of more complaints filed over unfair trade than any other nation, according to data compiled by the World Bank. U.S. Steel has been seeking subsidy duties of 15 percent to 30 percent on Chinese steel pipe, and separate dumping tariffs of at least 60 percent. A decision on the dumping is scheduled for this year. Pittsburgh-based U.S. Steel was joined in the petition by the U.S. subsidiary of France's Vallourec SA, the world's second-largest maker of steel tubes for oil and gas production. Imports from Tianjin Pipe Co. and related companies will face subsidy duties of 11.06 percent, according to the Commerce Department statement. Hengyang Steel Tube Group International Trading Inc. will pay 12.97 percent. The United States imposed tariffs last year on $2.7 billion of a different type of steel pipe used in oil wells, the largest dumping and countervailing duty case filed against Chinese imports. China was named in more than 70 percent of the new investigations of unfair trade worldwide in 2009, World Bank economists said in a report on Feb. 17.
February 26th  - General Taipei Taiwan - China Steel raises prices
China Steel Corp, Taiwan’s biggest steelmaker, announced yesterday that it was raising domestic prices on all its steel products for April and May deliveries by an average of NT$612 (US$19.07) per tonne, or 2.9 percent. The increase was the company’s second hike this year after it increased prices by an average of NT$1,011 per tonne, or 4.92 percent, for next month’s shipments. The company said in an e-mailed statement that the hike was to reflect the market’s rising demand amid a stable recovery in the global economy. Global demand for steel is expected to increase 9.2 percent to 1.206 billion tonnes this year, China Steel said, citing the World Steel Association’s forecast. The Kaohsiung-based company is likely to raise prices for June delivery when it makes the announcement next month analysts say.
February 26th  - General Brantford Ontario - Scary Steel mills targeted by terrorists.
All Africa reports that a few weeks ago in the city of Dar es Salaam, a man approached scrap metal buyers with what he thought was another version of ordinary scraps. The would-be buyers observed the pawpaw-shaped tool and realized it was not an ordinary piece of scrap, it was a bomb. The scrap metals dealers would have alerted the police, but for fear of potential problems with the coercive forces, they decided to send away the seller with his material. The man having realized that he won't get any buyer for his 'scrap', he decided to abandon it by the roadside. Anti-mining experts from the Tanzania People's Defence Forces (TPDF) were rushed in to investigate the incident. It was them who confirmed that the 122 millimeter-long metal was a bomb capable of causing extensive damage if explodes. Surveys show that recycled (scrap metal) trade in the country has grown tremendously in the last five to six years
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February 25th  - General Beijing China - Fact or fiction? "Warning: China is Short Copper,"
China completed the largest copper restocking in its history in 2009. That is a fact But according to UBS Securities analysts Tom Price, Julien Garran and Peter Hickson, it is not nearly enough. In a note that they appropriately title "Warning: China is Short Copper," the analysts suggested that most of the copper that China imported last year has already been converted into semi-manufactured products. By the end of the year, they estimate that China was working through pre-existing stockpiles as well. That is pretty remarkable, considering that the country imported about 3.2 million tonnes of copper as the government implemented a massive fiscal-stimulus program. "Basically, China is short of intermediate and refined copper products," the analysts wrote. "Even a modest demand-growth scenario for 2010 will require a robust restocking event, almost regardless of the constraints on trade posed by China's tightening credit markets."
February 23rd  - General Sharon, Pennsylvania - Wheatland increases tubular prices
Continued raw material price increases have driven a tubular producer to launch another round of price hikes.Wheatland Tube Co., Sharon, Pa., said in a letter to customers that it was increasing prices immediately on continuous weld (CW), electric-resistance weld (ERW) and A106 seamless pipe. The company's CW black pipe has been increased by 8 percent, CW galvanized pipe by 10 percent, ERW by $75 per ton and A106 by 5 percent. "Continued price increases on flat-roll steel necessitate this adjustment," Mark Magno, Wheatland's vice president of standard pipe, sprinkler and fence sales, said in the letter. "Lead times for flat-roll steel remain extended. Current finished pipe inventories remain at good service levels; however, any advance notice of order requirement is greatly appreciated."
February 20th  - General Berlin Germany - IG Metall reaches wage pact for German industry
Germany’s biggest labor union IG Metall has reached an agreement with employers that provides job guarantees as well as a pay increase for millions of workers at companies such as ThyssenKrupp AG and Daimler AG. The contract, which traditionally serves as a model for workers in other German industries, was forged as companies struggle to grow after the worst recession since at least World War II. In recently concluded talks, IG Metall and the Gesamtmetall employers’ federation agreed a one time payment of EUR 320 for this year and a 2.7% pay raise in 2011. The IG Metall pay deal applies to the pilot region of North Rhine-Westphalia and requires the approval of IG Metall’s national executive. Mr Berthold Huber chairman of IG Metall in an e mailed statement said that “The contract will secure a real increase in pay and shows that the parties achieved a fair distribution of burdens.” IG Metall went into talks this month putting job security for its 2.26 million members above pay, omitting for the first time to set a concrete wage claim. Negotiators reached a provisional agreement on February 16 to maintain payrolls through June 2012, partly by extending the use of short-term work.
February 19th  - General Tupelo, Mississippi, - Mueller appeals $683,000 in OSHA fines
Mueller Industries is appealing the $683,000 fine that the Occupational Health and Safety Administration levied against it last month. OSHA spokesman Mike Wald confirmed Tuesday the company had filed an appeal in response to the fine for safety violations. The appeal will be reviewed by the Occupational Health and Safety Review Commission, which is an independent agency not tied to OSHA. John Hansen, Mueller's vice president of manufacturing, declined to talk more about the appeal. "I have no additional comment or details," he said. "It's just part of the process." In a letter dated Feb. 9 from the Miami-based law firm of Ford & Harrison LLP, Mueller said it was contesting "all citations and penalties" levied by OSHA. The Memphis-based company was fined on Jan. 25 by OSHA, which had conducted an investigation into a fire and explosion that killed one worker and injured two others on July 29 at the company's Mueller Copper Tube plant in Fulton. The company had 15 days to file an appeal, with a Feb. 12 deadline. Last week, Hansen said in an e-mail that Mueller was focused on the safety of its employees and that "corrective actions have been completed on all but a few of the items cited by OSHA at our Fulton operations. Of those remaining, action plans are in place and are moving forward. We have met with OSHA and continue to work with them to address safety issues." Wald said it's now up to OSHRC to decide when to hear Mueller's appeal, which will be presided over by an administrative law judge. In the hearing, each side will present its case, and the ALJ will determine if Mueller pays all or part of the fine. OSHA cited Mueller's Fulton operations with 128 safety violations. The company runs Mueller Copper Tube, Mueller Casting, Mueller Copper Fittings and Mueller Packaging. Mueller Copper Tube is the oldest and largest of the four plants in the complex. Mueller Copper Tube was charged with 90 of the 128 violations and also received the bulk of the fines -- $413,500. Phillip Cason Hosch was the third person to die at Mueller Copper Tube in Fulton since April 2008. Mueller Copper Tube also has paid at least $35,000 in fines since 2002.
February 17th  - General Luxembourg - ArcelorMittal weary of increasing steel capacity in China and India
Global steel giant ArcelorMittal has said that its business is exposed to the risk of steel production increases in countries such as India and China, among other growing economies. ArcelorMittal in a regulatory filing to the US Securities and Exchange Commission said that “The industry is currently characterized by a substantial increase in production capacity in the developing world, particularly in China, but also in India and other emerging markets. Over the short to medium term, ArcelorMittal is exposed to the risk of steel production increases in China and other markets outstripping increases in real demand, which may weigh on price recovery.” Source SteelGuru
February 16th  - General Luxembourg - Acquisitions to drive growth of ArcelorMittal
Global steel giant ArcelorMittal has said that it is likely to continue to expand its base by acquiring companies worldwide even though it maintains that inorganic growth route could harm its financials. ArcelorMittal in a regulatory filing to the US Securities and Exchange Commission said “ArcelorMittal has grown through acquisitions and will likely continue to do so. Failure to manage external growth and difficulties in integrating acquired companies could harm ArcelorMittal’s future results of operations, financial conditions and prospects.” The company, however, said it is also banking on organic route for capacity expansion, which also suffers from operational risks. It said “Its growth strategy includes Greenfield and Brownfield projects that are inherently subject to completion and financing risks, which, if realized, could adversely affect ArcelorMittal’s results of operations and financial condition.” It added that “As a part of its growth strategy, the company plans to expand its steel making capacity and raw material self sufficiency through a combination of Brownfield growth, Greenfield projects and acquisition opportunities, mainly in entering markets such as India, Africa and Brazil.” Source SteelGuru
February 15th  - General Hamburg Germany - Copper market hit ceeling Aurubis AG News Letter Kupfermail suggests
What some contemporaries had already suspected beforehand has in fact now happened: commodity prices cannot always just go upwards. The two weeks since the beginning of February have seen significant price declines on the raw material markets. The copper price fell to below US$ 7,000/t, after being at almost US$ 7,400/t on average in January, and reached a low of US$ 6,242 on 5 February. Thus, copper lost about 19 % of its value compared with the January high of US$ 7,685/t. This development was initially triggered when the Chinese Central Bank raised the minimum reserve ratio and the China Banking Regulatory Commission (CBRC) instructed the main banks in the country to restrict lending as of mid January. This was interpreted as a sign of a turnaround in China’s up to then expansive monetary policy, with the resultant dampening impact on economic growth and demand for raw materials. The spreading financial problems in the EU emanating from Greece also exacerbated the nervousness about the sustainability of the economic recovery. As a consequence, the euro came under pressure against the U.S. dollar, which in addition caused the interest of funds in dollar-based copper commitments to diminish. A growing aversion to risks was the result, which caused limited withdrawals from raw materials and therefore also from copper commitments. This was however done in an orderly manner and was not accompanied by panic reactions.
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February 13th  - General Johannesburg South Africa - ArcelorMittal SA will not bid for Scaw, but interested in some assets
South Africa's largest steel producer ArcelorMittal South Africa would not participate in a bid for Anglo American's steel unit, Scaw Metals, unless the mining giant decided to sell the company's assets off piecemeal. Anglo announced that Scaw was no longer core to its business in October last year, adding that it would seek to dispose of it, along with Tarmac, Copebrás, Catalão and its portfolio of zinc assets. However, it has refused to provide further details about how it intended running the Scaw disposal process, or whether it had received expressions of interest. Anglo's media relations manager Dr Pranill Ramchander would only confirm that preparatory work was under way on the disposal. "It would not be appropriate to comment on parties that may have expressed an interest in any of the businesses for divestment, nor on potential value for those businesses. "However, we do believe these businesses to be attractive assets and we expect them to generate strong interest from potential bidders," he said in response to questions posed to it.
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February 13th  - General Harare Zimbabwe - ArcelorMittal SA (Formerly Iscor) has not received word if Zisco bid accepted.
Meanwhile, Africa's largest steel producer had still not received word from the Zimbabwean authorities about the status of its bid for the debt-laden Zimbabwe Iron and Steel Company (Zisco). The South African company had initially anticipated receiving clarity by the end of December 2009, but none had been forthcoming. However, ArcelorMittal South Africa CEO Nonkululeko Nyembezi-Heita indicated that it remained interested in the bid and that a "successful" outcome would affect the way it approached its future long-products growth strategy. She also believed that the Zimbabwean authorities would be "flexible" in enforcing proposed indigenisation rules, which would require foreign companies to "localise or indigenise" 51% or their interest in all business sectors in Zimbabwe over the next five years. The authorities, she said, were aware that such a requirement would be a "huge obstacle" to foreign direct investment and they would, thus, seek to balance the need to attract investors and foreign capital with a desire to foster local ownership.
February 12th  - General Lima Peru - Peru becomes world’s second largest copper producer.
Peru has become world’s second largest producer of copper with a total output of 1.273 million metric tonnes in 2009, the National Association of Mining, Oil and Energy said. Peru has taken over the second position from the US, which produced 1.19 million tonnes of copper last year, Xinhua reported Tuesday, quoting the association. Chile ranked third with 5.41 million tonnes of copper production in 2009. Amid the contraction in demand of metals caused by the global financial crisis, investment in Peru’s mining sector last year was $2.18 billion while the energy sector attracted $4.88 billion. Peru’s mining exports in 2009 reached $16.01 billion, which represented 60 percent of the total exports of the country, according to the association. Peru is also the world’s largest producer of silver, second in zinc, third in tin, fourth in lead and sixth in gold production.
February 11th  - General Welland Ontario - New jobs possible at Lakeside Steel
The future seems solid for Lakeside Steel, which announced Tuesday the Welland plant will receive a $5-million capital expansion expected to create 40 new jobs. Recently approved by the Lakeside Steel Corp. board of directors, the expansion will include a new casing threading line at the Welland plant. Lakeside currently out-sources its casing threading to Texas, Alberta and Ontario. Once the line is installed, the plant will be able to complete all products within the Welland plant. Having a case threading line is expected to improve customer lead times and to have a positive impact on the company's margins, the company said. Expansion also includes the installation of a new slitting line to process the hot band steel used as raw material at the Welland operations. Lakeside's slitting is now outsourced to three Ontariobased processors. Ron Bedard, president and chief operating officer of Lakeside Steel Inc., said the engineering work for the project began roughly six months ago. Construction is expected to begin by August, with both the slitting and casing line installations expected to be completed by the end of 2010, Bedard said. He said the company will see "significant savings" with processing pipe once the expansion is completed. It will help to "bring back work to Lakeside Steel," he added. Rather than transporting pipe for completion elsewhere in Canada or the U.S., it will all be done at the Welland facility, which celebrated its 100th anniversary last year. The new expansion builds on the $-million investment made by Lakeside last year for a new upsetting and threading line, as well as a new rail yard, Bedard said.
February 8th  - General Marion Ohio - Fungus-causing odor at ArcelorMittal Marion tube plant.
A Missouri laboratory has identified the species of fungus as the organic material found at ArcelorMittal, a Marion steel tube manufacturer, said Dina Pierce, Ohio Environmental Protection Agency spokeswoman. OEPA investigators in mid-January determined the fungus found at the plant is the source of an odor about which it has received dozens of complaints in the Marion area. In an e-mail response to questions about the specific measures being taken to eliminate the fungus, Adam Warrington, spokesman at the company's Chicago office, has said, "ArcelorMittal is committed to expediting a solution to the odor issue at our Marion facility. We appreciate the assistance of the Ohio EPA throughout the process." Warrington did not respond to a phone call and e-mail seeking further information by press time Friday. Pierce said the company has cleaned out areas where it found the fungus growing and continues to look for the presence of the fungus anywhere else. Pursuing enforcement of a nuisance section of the Ohio Administrative Code remains an option, but "Our goal remains getting it resolved," Pierce said. "... It's an ongoing process. We're in regular contact with the company either by phone or out there physically." The Marion plant of ArcelorMittal, Tubular Products (formerly Dofasco Copperweld) manufactures cold sized or as-welded tubing in a variety of steel grades to serve the automotive market’s requirements. Our annual capacity is 65,000 tons. Marion‘s aswelded mechanical tubing has excellent surface quality. This facility also has some of the most extensive tube cutting capabilities in the industry. Marion’s full size range can be cut to length in one of our six cutting centers. Tolerances as close as +/-0.03 inch are available. Chamfering and wire brush de-burring of OD and ID surfaces are available. Marion tube mills are equipped with state-of-the-art, cost-effective cut-offs that produce a chamfered tube cut-to length to a tolerance of +/-0.25 inch, for lengths between 15 inch to 30 inch.
February 3rd  - General Brussels Belgium - EU quota utilization levels of Russia and Kazakhstan
European Union (EU) advised that Russia utilized five percent of its new steel quota of 3,184,445 tonne allocated to it for the current year, while Kazakhstan utilized zero percent of its allocated EU quota of 205,000 tonne. According to the latest figures, Russia exported a total of 159,241 tonne of steel products to the EU in the first month of the current year. Specifically, Russia used 10.88 percent of its hot rolled coil quota (118,299 of the allotted 1,087,397 tonne), 1.78 percent of its plate quota (5,132 of the allotted 288,922 tonne), 5.37 percent of its other flat products quota (33,560 of the allotted 625,122 tonne), 0.05 percent of its alloyed CR and coated sheet quota (60 of the allotted 115.569 tonne), and 0.41 percent of its long products quota (excluding beams and wire rod) (2,190 of the allotted 532,667 tonne).On the other hand, during the first month of the current year Kazakhstan did not supply any steel products to the EU. As SteelOrbis previously reported, within the framework of the agreement signed between the EU and Russia on October 26, 2007 regarding the trade of certain steel products, the renewed quota allocated to Russia for 2010 increased by 2.5 percent compared to 2009, to 3,184,445 tonne.
February 3rd  - General Cremona Italy - SMS Meer commissions ERW tube welding line at Arvedi
SMS Meer has successfully commissioned a 12.75 inches' ERW tube welding line for heavy wall thicknesses at Arvedi Tube Acciaio SpA in Cremona Italy. Only one year was needed, thanks to the excellent cooperation, from excavation of the foundations to the successful commissioning. The line already achieved high production shortly after completion. The aim of the project was to develop a high output line for producing high end tubes in a wide range of sizes and material grades as well as with heavy wall thicknesses. A high degree of operational reliability of the equipment was also demanded.
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January 30th  - General Hamburg Germany/Pirdop Bulgaria - Aurubis Bulgaria wins German Economy prize
The prize of the German/Bulgarian Chamber of Industry and Commerce (DBIHK) in the category „Large-scale enterprise” for 2009 has been awarded to Aurubis Bulgaria, the second-largest production site in the Aurubis Group. Yesterday, 28 January, the German Economy prize was awarded as part of the traditional New Year reception of DBIHK in Sofia. The prize winner was chosen again in three categories for the sixth time. The trophies are given to firms and institutes for projects or activities that develop business contacts between Germany and Bulgaria.
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January 30th  - General Memphis Tennessee - OSHA levies hefty fine on Muller Industries
A company with three businesses in Fulton is facing the largest penalty in Mississippi for worker safety in nearly two decades, said an official with Occupational Safety and Health Administration Mueller Industries, based in Memphis, was fined $683,000 for 128 citations filed against three subsidiaries in Fulton, according to OSHA. The investigation resulted from the death of a maintenance worker last July. Phillip Cason Hosch, 29, of Sulligent, Ala., was killed and two other people were hurt when a flammable liquid leaked from an electric pump and ignited at Mueller Copper Tube, according to OSHA. The other subsidiaries are Mueller Fittings and Mueller Packaging. Mueller Industries says it has taken steps to correct the issues raised by OSHA's probe, according to a statement released by the company on Tuesday. "Prior to receiving the citations, Mueller had already undertaken measures to address most of the issues cited," John Hansen, president of Mueller Industries' manufacturing operations, said in the statement. Mueller Industries cooperated fully with OSHA and is determined to provide safe working conditions for its employees, he said.
January 28th  - General Washinton D.C. - IMF updates 2010 forecast recovery stronger than anticipated.
The global recovery is off to a stronger start than anticipated earlier but is proceeding at different speeds in the various regions. Following the deepest global downturn in recent history, economic growth solidified and broadened to advanced economies in the second half of 2009. In 2010, world output is expected to rise by 4 percent. This represents an upward revision of ¾ percentage point from the October 2009 World Economic Outlook. In most advanced economies, the recovery is expected to remain sluggish by past standards, whereas in many emerging and developing economies, activity is expected to be relatively vigorous, largely driven by buoyant internal demand. Policies need to foster a rebalancing of global demand, remaining supportive where recoveries are not yet well sustained.
January 28th  - General Warren Ohio - Severstal to fire up Warren steel mill
Severstal is restarting part of its Warren steel mill in mid-March but isn’t saying how many of its 1,150 laid-off workers will be recalled. “This is fantastic news,” said Warren Mayor Michael O’Brien. Although only the blast furnace and hot-rolling mill operations are being restarted, O’Brien said the moves show that the mill has a future. It shows that people who expressed a “gloom and doom” attitude during the mill’s long idling were wrong, he said. “Not for a second have I lost faith that Warren’s best days are ahead,” the mayor said. Sergei Kuznetsov, chief executive of Severstal North America, said in an interview that the company needs steel from Warren to meet demand from its customers. Orders have picked up from a variety of customers, including pipe and tube makers and those in the construction, automotive and agricultural markets. The mill will produce steel bands that will be shipped to a Severstal mill in Yorkville, Ohio, for more processing and then to a plant in Martin’s Ferry, Ohio, for galvanizing. He said Yorkville’s cold-rolling mill is more modern and more efficient than Warren’s cold-rolling mill, so the local cold-rolling operation will remain idle. The company would need a further increase in orders to restart the Warren cold-rolling mill, he said. The number of workers to be recalled is being discussed with the United Steelworkers of America.
January 27th  - General Sosnowiec.Poland - ArcelorMittal proud of Polish accomplishment
While the privatization of Poland’s shipbuilding industry continues to cause headaches, the privatization of the steel industry has been described by analysts as a success. Much of the credit goes to Arcelor Mittal, which five years ago launched an investment and modernization program of steel mills in the south of the country. The following remarks were offered to ‘Polish Market’ by Arcelor Mittal President Sanjay Samadar. This is the story of one of the significant modernization operations in a five-year span in the steel business perhaps anywhere in the world. We are proud to say that it happened in Poland. We acquired the company following its privatization in 2004. We set up a very clear vision and mission to modernize the company, to bring it out of a bankruptcy situation, and to give Polish steel a new identity not just in Europe, but also in the world. I genuinely believe that we have achieved that.
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January 23rd  - General Chennai India - Bihar Tubes inaugurates new facility
DH News Service,Bangalore reports that Bihar Tubes inaugurated its new facility at Hosur in Tamil Nadu. It is being built at a capital cost of INR 100 crore and capacity of 200,000 tonnes per annum. Mr Sanjay Gupta MD of Bihar Tubes said “The new facility at Hosur employs latest machinery from Japan is versatile and capable of producing widest range of steel tubes and hollow sections in galvanized and pre galvanized.” Bihar Tubes has three plants: two near Delhi and one near Bangalore. Hosur is the fourth facility for the company.
January 22nd  - General Bangkok/Beijing - Concern over US protectionism in Asia
US President Barack Obama and Secretary of State Hillary Clinton made much last year of the new administration’s return to Asia and re-engagement with the region. But after a year in power, the region’s main worry about Obama was that his administration would revert to protectionist policies in its bid to get the US economy back on its feet and provide jobs for fellow Americans. US trade policy towards China has become increasingly protectionist in recent months. On Jan 5, the US commerce department announced a hike in duties from 43 percent to 289 percent on imports of Chinese steel wire decking valued at some $300 million. That followed US anti-dumping duties on imports of Chinese steel pipes in late December, which Chinese industry officials claimed could cost the country up to $2.8 billion.
January 21st  - General Huntsville Alabama - Copper tube makers launch heat transfer venture
A US and a German copper tube manufacturer have launched a joint venture to develop new heat transfer technologies. German manufacturer Wieland and its US counterpart Wolverine Tube¬ have formed Wolverine/Wieland Heat Transfer Technologies (WWHTT). WWHTT will develop new heat transfer technologies, processes and products that will be licensed to Wolverine, Wieland and third parties. "WWHTT will develop technologies that allow engineers to create air conditioning and refrigeration systems with higher efficiency, lower end-user operating cost, and reduced refrigerant use," said Harold Karp, president and chief operating officer of Wolverine. "The rapidly changing technical requirements of our markets will only be met by an ability to revolutionize heat transfer technology. WWHTT will leverage the heat transfer technology of two world-class companies to create best-in-class solutions for our customers and markets," said Bernd Grasshof, vice president of Wieland's Tube division. The Wieland group previously established a joint venture with Wolverine in China in 2008 when it purchased a 30% equity interest in Wolverine Tube Shanghai.
January 21st  - General Washington D.C. - US DOC announces amended final subsidy margins for Chinese OCTG
The US Department of Commerce (DOC) has made minor adjustments to its final determination in the countervailing duty (CVD) investigation of OCTG from China. As the result of correcting certain "ministerial errors" in its original calculations, the DOC amended the final subsidy margins for most of the Chinese producers and exporters of OCTG, as follows: (1) Jiangsu Changbao Steel Tube Co., Ltd. and Jiangsu Changbao Precision Steel Tube Co. Ltd. - 12.46 percent. (The original margin was 11.98 percent.) (2) Tianjin Pipe (Group) Co; Tianjin Pipe Iron Manufacturing Co. Ltd.; Tianguan Yuantong Pipe Product Co. Ltd.; Tianjin Pipe International Economic and Trading Co. Ltd.; and TPCO Charging Development Co. Ltd. - 10.49 percent. (The original margin was 10.36 percent.) (3) Wuxi Seamless Pipe Co., Ltd.; Jiangsu Fanli Steel Pipe Co. Ltd.; and Tuoketuo County Menfeng Special Steel Co. Ltd. - 14.95 percent. (The original margin was 14.61 percent.) (4) Zhejiang Jianli Enterprise Co., Ltd.; Zhejiang Jianli Steel Tube Co. Ltd.; Zhuji Jiansheng Machinery Co. Ltd.; and Zhejiang Jianli Industry Group Co. Ltd. - 15.78 percent. (This margin is unchanged.) (5) All Other Producers and Exporters - 13.41 percent. (The original margin was 13.20 percent.) These revised rates go into effect January 20, 2010, when the DOC publishes the CVD order against OCTG from China.
January 19th  - General Beijing China - Baosteel increases February manufacturer prices
Baoshan Iron & Steel Co (Baosteel), the nation's largest steel mill, significantly raised its February manufacturer prices, the China Daily reported Thursday. Major steel wire product prices went up 300 yuan (44 U.S. dollars) per ton on average. Revised prices on major steel sheets, announced this week, are expected to increase 200 to 300 yuan per ton, said the newspaper. Manufacturer prices of Baosteel products range from 3,000 yuan to 6,000 yuan per ton. The price surge on raw materials, such as iron ore and coal, led to the latest price adjustment, the newspaper quoted Hu Kai, an analyst at Umetal.com as saying. The price of iron ore hit a 16-month high of 135 U.S. dollars per ton, soaring nearly 120 percent from April 2009's low, the newspaper quoted Hu as saying. This month, manufacturer prices of Baosteel's products increased 300 yuan to 500 yuan per ton month over month, which was the first rise since September. A price increase by the Shanghai-based steel giant triggered sweeping price hikes among domestic smelters, according to the newspaper.
January 18th  - General Brantford Ontario - US industrial copper & brass demand likely to recover somewhat..
Consumption of copper and brass products in the U.S. dropped by at least 20% (maybe more) in 2009 as manufacturing of wiring, plumbing and refrigeration goods, architectural materials and contractors' products all were crushed by the recession. Looking at 2010, "the near-term outlook is uncertain," according to a market update by copper cathode producer Freeport-McMoRan Copper & Gold. The International Copper Study Group expects world copper demand to be off 1.5–2% when 2009 statistics are tabulated, "given the severity of the declines in industrial production." The drop-off in U.S. demand will be even steeper because 40% of North American demand comes from automotive original equipment manufacturers and about 30% comes from construction—two industries that were hammered by the recession.
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January 18th  - General Hamburg Germany - Investors support high inventory Aurubis AG Copper Mail No. 69
Copper was firm at the turn of the year 2009/10. After the copper price initially held up well at clearly over US$ 6,800/t, it climbed to more than US$ 7,000/t in the last week of December and reached a high of US$ 7,346/t on 31 December 2009. This was 153 % higher than the prior-year closing price of US$ 2,902/t. An average copper price of US$ 5,164/t can be calculated for 2009, which clearly joins the high values of the second half decade. Two points are of particular note: firstly the copper price performed well in 2009 despite the impact of the global economic and financial crisis. On the other hand the recent rise in copper inventories in the warehouses of the metal exchanges has not had any effect on the price, which was mainly due to the strong inflow of investor funds in the commodity investment category. Nothing is currently indicating that this inflow could come to an end at short notice, which was also reflected in the statement made by a representative of the Standard Bank at the beginning of December to the effect that commodity investments are still significantly underrepresented in many portfolios and there is still some catching up to do. This also means that the copper market will receive further support from this side.
January 16th  - General Seoul Korea - Steel industry set to recover on increasing demand
Revenues of steelmakers could reach pre-crisis levels this year on the back of a recovery in heavy industries, experts said yesterday. According to the World Steel Association, global steel demand is expected to grow 9.2 percent to 1.25 billion tons in 2010 from an 8.6 percent contraction in 2009. The anticipated recovery will be buttressed by strong growth in steel demand from China, the association said. China will continue to see steel demand rise by 5 percent in 2010 from a 19 percent rebound in 2009, while demand from emerging economies will grow 12 percent in 2010 from a 17 percent fall in 2009, it said. Steel demand in Korea is likely to grow more than 10 percent in 2010 from a year earlier, according to industry reports and analysts. The Korea Iron & Steel Association said steel demand in Korea is expected to rise 12.2 percent to 51.4 million tons this year.
January 16th  - General Mumbai - India’s steel furnaces run hot
Several steel producers in India have reported production figures for December or the fourth quarter of 2009 that indicate the steel industry has gained momentum in that nation. According to a report from Industrial Info Resources (IIR), Sugar Land, Texas, the government-operated Steel Authority of India Ltd. has reported a 32 percent increase in sales in December of 2009 versus the same month in 2008. The company, with a yearly output of 13 million tons, has a 25 percent share of India’s steel market, according to IIR. In the third quarter of its fiscal year, running from October through December of 2009, sales grew 23 percent year-over-year, primarily driven by increased consumption in the construction sector.
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January 14th  - General Santiago Chile - Chile’s mining minister says copper price could fall sharply
Global copper prices could see an "important" downward correction as high metal inventories continue to climb, world No. 1 copper producer Chile's Mining Minister Santiago Gonzalez told Reuters on Monday. "We are worried that stock levels are climbing higher. We are at 700,000 tonnes at the moment, while prices remain (high). This means that at any minute we could see a violent change and prices could fall," Gonzalez said in the capital Santiago. Gonzalez said Chile is closely monitoring the disparity between prices and stocks, which he believes is the most out of step in the last 20 years.
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January 14th  - General Welland Ontario - Lakeside Steel recalls all temporarily laid-off employees
Lakeside Steel Inc. ("Lakeside Steel" or the "Company") today announced it has increased production on its Stretch Reduction Mill by adding additional production shifts to meet stronger demand for Lakeside Steel's OCTG products. In addition, Lakeside Steel has recalled all of its temporarily laid off employees and has returned to full employment for the first time since November 2008. Based on current orders, the Company expects its Stretch Reduction Mill and ERW 2"-8" Mill to operate at or near capacity through April of 2010. The increased demand for the Company's OCTG products has been driven both by the enhanced end finishing capabilities of Lakeside Steel's new upsetting and threading operations which became operational in December 2009, and also by the increase in prices for oil and natural gas.
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January 14th  - General Shanghai China - China will see fiercer competition in seamless steel pipe market
China production of seamless steel pipe is increasing lately. However this does not mean China seamless steel pipe manufacture industry will be out of the woods. There is still uncertainty in the market and the competition will be fiercer. The fiercer competition could be propelled due to following factors 1. Main users enter adjustment period affecting main varieties consumption. For example, oil well pipe consumption depends on resources so the consumption growth is very slow. Adding the continuous improvement of quality and variety, oil well pipe consumption is hardly to see substantial increase. And High pressure boiler tube consumption will also decrease because of the overcapacity, low-carbon economy goal and environmental restrictions in coal-fired power generation. 2. Uncertainty in international market recovery. Because of tremendous impact of financial crisis, there are still uncertainties in time and speed of international economics recovery. 3. Trade protectionism rises. Seamless steel pipe faces varying degrees of anti-dumping and countervailing investigations in main expert countries such as America and Canada. 4. Accelerating alternation by welded pipe. Currently China plate and strip production capacity and variety gradually close to the world advanced level. Tube-welding machine and deep-processing equipment is also achieved advanced level. While welded products expanding markets, market share of seamless steel pipe will be inevitably squeezed. 5. Periodic overcapacity will last for longer period of time. (Sourced from www. steelprices-china.com via SteelGuru)
January 13th  - General Washington D.C. - US job situation a mess
The unemployment report on Friday was an unmitigated disaster. Based on the government's payroll survey, the economy shed 85,000 jobs in December, many more than analysts had expected. Worse, based on its separate household survey, the government reported that the job losses in December were 589,000 — over SIX times more. So which of the two figures better reflects the true number of jobs lost last month — 85,000 or 589,000 jobs? According to John Williams' Shadow Government Statistics. it's clearly the latter. Strip out the faulty seasonal adjustments from the government payroll survey, he says, and it would ALSO show job declines of about 500,000 in December! Result: Williams estimates that official unemployment is actually closer to 10.2 percent (instead of the 10 percent reported).
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January 13th  - General Washington D.C. - US pipe makers see OCTG import duty as key to rebound
The presidents of two local manufacturers said that US International Trade Commission's ruling to impose tariffs on steel pipe and tube is the start of an industrial comeback for the United States in the world market. Mr Bill Kerins president of Wheatland Tube said that "The pipe and tube industry will start to see good paying, standard of living jobs coming back to where they belong." Mr Roger Lindgren president of V&M Star's North American operations in Youngstown and Houston, joined Kerins at a press event at Wheatland Tube's plant, along with US Senator Mr Sherrod Brown, D Ohio, US Representative Mr Tim Ryan, D 17 Ohio, Ohio Department of Development Director Ms Lisa Patt McDaniel and Mr George Irving of Local 9306 of the United Steelworkers of America. V&M is contemplating a massive, USD 970 million investment to expand its tube operations, possibly in Youngstown. While Lindgren offered no hints on whether the company would move forward with the project, he agreed with Kerins that the ITC ruling is vital to American manufacturing. Mr Lindgren said that “Enforcement of our trade laws are important to any of our industries. It is important to investors and it’s important to attract the right people." The Department of Development's Ms Patt McDaniel said that the state is heavily invested in the steel industry and these duties are important to allow Ohio’s manufacturers to compete on a level playing field. She added that "Gov Strickland and I are committed to doing everything we can to help Ohio companies. We are hoping to have some future announcements soon." Ms Lindgren said that in conjunction with announcing the import duties, the ITC also announced preliminary antidumping duties that could range up to 96% on most Chinese manufacturers. The exact amount of these additional duties would be decided in early April. A second trade commission vote would follow in May.
January 12th  - General Brantford Ontario - China’s economy starts to respond to government’s stimulus package
Jiangsu Province based Chinese steelmaker Shagang made upward adjustments to its ex factory longs prices for early January. The details are as follows: 1. Rebar prices are up CNY 50 per tonne from late December levels. As a result, the price of 14mm to 25 mm diameter HRB 335 is now at CNY 3780 per tonne. 2. High speed wire rod prices have increased by CNY 150 per tonne. Thus, the new price of 6.5 mm Q235 is at CNY 3950 per tonne. 3. Coiled rebar prices have gone up by CNY 150 per tonne. As a result, the new price of 8 mm diameter HRB 400 is now at CNY Steel Market Intelligence in a research note citing unnamed press reported that China's top steelmaker Baosteel has raised benchmark flat rolled steel prices for February delivery by 5%. The research note said that "With January rises now sticking well, we expect to see further price increases announced in China as well as Europe and the United States.” It added that "Chinese steel demand is profound, and rising raw material costs are driving an inflationary spiral in the region as steelmakers and their customers clamor for material." A February price rise of 5% suggests cold rolled coil prices could rise to about CNY 5800 per tonne, the highest since October 2008 while hot-rolled coil prices could rise to about CNY 4560 the highest since September 2009.
January 12th  - General Brantford Ontario - Indian economy on fire
The Indian economy is expected to grow at 7 per cent this year and may soon return to sustained high growth path of 9-10 per cent, Prime Minister said at a recent conference of non-resident Indians. Manmohan Singh said the government would like to address key constraints in the infrastructure and the agriculture sectors Amidst sugar prices touching Rs 44 a kg in the retail market, the government today said it is keeping a watch on the prices. During the quarter, most Indian metal companies will report strong growth in revenue and profits given the lower base effect of last year and higher volume growth. The rally in international base metal prices will lead to significant growth for non-ferrous companies. Their margins are expected to improve by 400-500 basis points given that input costs have remained flat. Companies like Hindustan Zinc are expected to benefit substantially from higher zinc prices, other income (due to cash in the books) and lower tax. Better performance of Hindustan Zinc and higher metal prices will also help Sterlite Industries. For steel companies, non-integrated players are likely to feel the heat of higher iron ore prices coupled with flat steel prices. Companies like JSW Steel, which reported losses of Rs 127.5 crore in the corresponding quarter last year, could turn to profits, mainly driven by a 66 per cent rise in production. Tata Steel’s performance will be helped by higher volumes and lower input costs. On a consolidated basis, CLSA expects the company to post a model net profit after three consecutive quarters of losses.
January 12th  - General Brantford Ontario - Recovery coming for US industry, but not enough jobs
With the U.S. economic year 2009 now at a lackluster close, due to modest demand and aggressive cost- and inventory-cutting by manufacturers, distributors, dealers and retailers alike, look for January to set the tone for the early months of 2010 and possibly the rest of the year. Odds favor a strong push out of the starting gate for the financial markets, as well as the industrial sector and most aspects of commerce in general. Despite the prudent behavior of America's consumers, still comprising more than 65 percent of a $14 trillion gross domestic product, producers will be playing catch up with inventories that have been depleted by major reductions, cut to the point where even post-recessionary demand is experiencing increasing stock-outs from its suppliers. Exports will continue its upward rise as China, India, Brazil and other developing countries shift some of their booming demand to America's shores. The Obama administration's tilt toward protectionism already experienced by rubber tires, steel pipe, prestressed wire rope and possibly copper tube may set back globalization but will prove a boon of substantial proportions to the long-ailing industrial sector.
January 12th  - General Luxembourg - ArcelorMittal to cut 10,000 steel jobs
In a sign that steel demand isn't expected to recover strongly in 2010, the world's largest steelmaker, ArcelorMittal, is looking to eliminate about 10,000 jobs, with most of the cuts likely in Europe and the U.S., where the growth potential is more limited. The company declined to specify layoff numbers, but people familiar with the matter said the target is about 3.5% of the 287,000 employees the company had as of Sept. 30. Many of the cuts are expected to affect workers who were furloughed after a round of plant idling earlier this year; the work force also is expected to be reduced through attrition. The company also said it would increase steel production so that its capacity utilization rate would rise to about 70% at the end of this year from 61% in the third quarter, but that the rate would stay at that level until 2013. It added that it doesn't expect steel prices to recover to the heights of 2007 for a decade. The industry outlook has recently strengthened, as demand in China, Brazil, India and Africa starts to recover. Steel prices have risen 10% to 30% in the past three months and plants have started to raise their production rate to hover around 65%. Despite the upward trend, steelmakers are remaining cautious about ramping up production and bringing back workers. China's BaoSteel, Japan's Nippon Steel and AK Steel in the U.S. have tentatively started price increases for some steel delivered in 2010.
January 11th  - General Pittsburgh Pennsylvania - U.S. Steel seeks early duties on China steel pipe
U.S. Steel Corp. said it's seeking early imposition of duties on steel pipe from China after imports surged. Imports of seamless standard, line and pressure pipe from China more than tripled after antidumping cases were filed in September, U.S. Steel said in a statement Thursday. The Department of Commerce is scheduled to make a preliminary determination in the cases on Feb. 16. Because of the surge in imports since the cases were filed, U.S. Steel and other parties in the antidumping claims said they are asking for duties to be imposed under a "critical circumstances" allegation. That allows so-called remedial duties to be imposed as much as 90 days before the preliminary determination, when they would normally occur, the company said. U.S. Steel in September asked the Commerce Department to impose dumping and anti-subsidy duties of as much as 90 percent on $400 million in imports of pipes used in chemical and petrochemical refineries. U.S. Steel was joined in that petition by the U.S. subsidiary of Vallourec SA, the world's second- largest maker of steel tubes for oil and gas production, the companies said at the time
January 5th  - General Brantford Ontario - Holiday News Watch
We wish all our readers a Merry Christmas & a prosperous 2010. We keep watch for any spectacular event that we feel should be brought to your immediate attention. Our customers' press releases will be published as they are received. There will be no rear view mirror news summary. Instead, this editor will be busy producing our magazine: Wire & Cable Business Review to be distributed at Wire2010 in Dusseldorf. If you want to leave a lasting impression of your participation e-mail paul@wireworld.com regarding our promotional opportunities before, during and after the show. Our pledge for 2010 is that wireworld.com will continue to be the most effective global low cost advertising venue through which to reach wire & cable producers.
December 23rd  - General Harare Zimbabwe - ArcelorMittal SA most suited for Zisco sale Do they want it - need it?
Allafrica.com reported that a South African steel analyst has tipped ArcelorMittal SA to secure a controlling stake in the Zimbabwe Iron and Steel Company by saying that the company is best suited for the purchase. Mr Anwaar Wagner, a steel analyst and portfolio manager with Old Mutual Investment Group South Africa, told The Financial Gazette from South Africa that But Wagner said an investment by ArcelorMittal SA would act as a catalyst for huge investment projects by foreign investors as it would signal that Zimbabwe was open for investment. He said”The government of Zimbabwe has to make the investment both viable and attractive enough to compare with returns of comparable projects locally or regionally. Securing raw materials such as coal from Hwange would increase the attractiveness for ArcelorMittal SA compared with an investment in ZISCO as an alternative to expanding its capacity at Newcastle in South Africa.” Mr Wagner said ArcelorMittal SA's stated strategy for sub Saharan Africa as its key target market, with South Africa accounting for 67% of sales and the rest of Africa 20%, made Africa key to the group's operations.
December 23rd  - General Copenhagen Denmark - Climate deal is a disappointment – EUROFER
Mr Gordon Moffat director general of EUROFER said that "The Copenhagen deal is a disappointment. We had hoped that an agreement in Copenhagen would have resulted in a global level playing field between industrial competitors worldwide. Until an agreement is reached which results in comparable efforts by industries worldwide the EU must maintain the measures foreseen to protect the competitiveness of European industry." EUROFER urges the EU therefore to ensure the following: 1. No unilateral increase of the EU's GHG target from 20% to 30% 2. In the implementation of the EU emissions trading directive fully 100% free allowances, based on achievable benchmarks, for the European steel industry and other sectors at risk of carbon leakage, 3. Compensation for ETS related increases in electricity prices in order to preserve steel recycling in Europe 4. No European financial support for climate change mitigation and adaptation measures to countries which do not agree to international monitoring of all their industrial GHG emissions 5. Increase of financial support for R&D of carbon lean technologies in the EU
December 15th  - General Baoshan China - Baosteel develops 13Cr oil well tubing
Recently two specifications of corrosion resistant and highly anti sulfur 13Cr oil well tubing made by Baosteel for the first time especially for Talimu Oilfield completed hot rolling and piercing smoothly in Precision Steel Tube Plant. According to the on line inspection, the surface quality and wall thickness tolerance etc all reached the controlled equipment, qualifying for the follow up cold rolling processing production. These two specifications of 13Cr oil well tubing are the products developed by Baosteel and Talimu Oilfield cooperatively to substitute import. The products have large OD, thick wall and long length, and are the most difficult to process in the history of Precision Steel Tube Plant. (source SteelGuru)
December 11th  - General Lahti, Finland - Stalatube expands its product range to stainless flat bars
Finnish stainless steel hollow section manufacturer Stalatube is expanding its product range to stainless flat bars. The new flat bar products will complement the current stainless steel structural tube product range. The new flat bar manufacturing will require additional investment that will be implemented during Q4 2009. "We are developing our customer service, and our attractiveness in the eyes of our customers, by adding these flat bars to our range", confirmed Marketing Director Sami Packalen, based in Lahti.
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December 11th  - General Fairfield, Connecticut - GE Capital outlook improving, but loan losses to continue
General Electric says the financial stability of its big lending arm has improved since earlier this year, but high losses on loans gone bad in areas like commercial real estate will continue into next year. The conglomerate says that 2010 profits at GE Capital are expected to be between $2 billion and $2.5 billion, flat with this year. GE is ahead of schedule with plans to shrink the size of GE Capital, which once provided nearly half of the company's overall profits. And the company says credit markets are improving, making it easier and cheaper to borrow money. But losses and impairments aren't expected to peak until next year, likely reaching $13.6 billion. The majority increase is due to ongoing woes in its lending and holdings of office buildings, retail shopping centers, and other commercial properties. Losses in that unit could reach $2.9 billion next year, up from the $2.1 billion in 2009. The financial crisis punished GE Capital after credit markets seized up and borrowers in areas like store credit cards, overseas mortgages and factory machinery began to default on loans.
December 11th  - General Copenhagen Denmark - Blindfolds are hiding the crucial issues such as cost at Copenhagen climate summit
As we are engulfed from all sides by suffocatingly one-sided coverage of the Copenhagen conference on climate change, three hugely important issues have been largely stuffed away from sight. The first of these is the matter of cost: the scarcely believable bill our politicians wish to land us with as the price of their proposals to meet the supposed threat of global warming. Few people have even begun to take on board the astronomic scale of the sums involved – the International Energy Agency talks blithely of $45 trillion - because on this politicians and media have in recent days remained more than ever silent. Already under last year’s Climate Change Act Britain alone are committed to shell out £18 billion every year from now until 2050. That is £725 for every household in the land, which we will all have to pay in rocketing energy bills and regulatory costs, crippling ‘green’ taxes on everything from cars to airline tickets, subsidies to wind farms and heaven knows what else. But even this may look like a gross underestimate when we realise that it is now the law of the land that, over the same 40 years, Britain must cut its emissions of carbon dioxide by a staggering 80 percent or more. Not a single one of the 463 MPs who nodded through the Climate Change Act, with only three voting against, could have begun to explain in practical terms how this target could be met.
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December 9th  - General Geneva Switzerland - Early exit from support measures adopted in response to the global economic crisis could postpone jobs recovery for years ILO says.
In a stark analysis of the impact of the global recession, the ILO’s World of Work Report 2009 warns that an early exit from support measures adopted in response to the global economic crisis could render the fledgling economic upturn “fragile and incomplete. The ILO Global Jobs Crisis and Beyond report, also projects that unless adequate measures are adopted and in some cases are continued, more than 40 million people could drop out of the labour market. “Despite some initial signs of economic upturn and because of the significant rise in unemployment and in part time work, support measures should not be withdrawn too early” said Raymond Torres, Director of the ILO’s International Institute for Labour Studies and lead author of the report. “The global jobs crisis is not over,” he added. “It is therefore crucial to avoid premature exit strategies. In short, the economic upturn will remain both fragile and incomplete as long as the jobs crisis continues. A real recovery will be achieved only when employment recovers.” The report also indicates most of the failures of the financial system that lie at the root of the present crisis have not been tackled so far another reason why early exit would be premature.
December 8th  - General Copenhagen Denmark - As unelected U.N. representatives gather, police mount greatest security operation in Danish history to keep the public at bay.
This circus like all U.N. and G8 summit spectacles is great for makers of fence and barbed wire. As the U.N. fat cats gather for another baloney session that will accomplish absolutely nothing except thwarting growth and raise unemployment in the industrialized nations. Meanwhile industry and jobs move to China and India, where the barons of BIG BUSINESS can pollute as they please. Everybody now seems to agree that there is a need to cut CO2 emissions, but China and India is holding out for a special deal that allow these countries to just cut the rate of increase arguing that because their industry is growing they cannot trim back CO2 emissions and meet the targets similar to those set by the EU. No wonder the people are rioting, but of course to no avail as the insanely well paid E.U. and U.N. officials could not care less about public opinion hence the need for security as frustrated little people try to make their opinions heard.
December 8th  - General Youngstown Ohio - Governor Strickland alleges China dumping steel in U.S.
Governor Ted Strickland told the U.S. International Trade Commission last week that it is time to impose penalties on Chinese companies that he said are dumping too-cheap steel tubing on American markets. Steel mills in Lorain, Youngstown and Warren were forced to lay off workers this year after "massive" imports of steel tubing (known as oil country tubular goods) used in oil and gas production, Strickland charged at a commission hearing in Washington. Strickland, a Democrat, and Sen. Sherrod Brown, D-Ohio, who also testified last week, want relief in the form of countervailing duties, to offset what they say are unfair Chinese government subsidies, and anti-dumping penalties on Chinese companies. However, attorneys representing Chinese interests present a different picture. They say U.S. steel companies registered record profits in 2008 on the type of tubing in question, even as the Chinese companies allegedly were dumping their products on American shores. It was only in 2009, feeling the effects of the recession, not injury from Chinese imports, that the U.S. companies began shutting down production and laying off workers, according to the case laid out by the attorneys for the Chinese companies. The U.S. industry and its unions, in turn, say there is a lag time for the effect of the tube dumping, and that the huge Chinese product inventories built up over six months or longer.
December 5th  - General Youngstown Ohio - Congressional delegation supports China pipe duties at trade hearing
By the end of the year, “We should have a very good indication” as to whether the U.S. Commerce Department will impose countervailing duties in response to the dumping of Chinese steel pipe on the U.S. market, says Mayor Jay Williams. Following a hearing Tuesday, the International Trade Commission is expected to forward its decision by Dec. 30 on the duties to the Commerce Department, which will make its decision sometime in the first quarter of 2010, he said.
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December 4th  - General Pittsburgh Pennsylvania - CEOs and Union Leader agree: Manufacturing strategy crucial.
Defying popular stereotype, CEOs and labor representatives sat on a panel and largely agreed on major issues confronting industry and working people. It happened Monday, Nov. 30 as CNBC taped “Meeting of the Minds: Rebuilding America” in a hall at Carnegie Mellon University before an audience of nearly 600 students, businessmen, steelworkers and other trade unionists. For the broadcast Dec. 2 at 8 p.m., host Maria Bartiromo said the Steel City of Pittsburgh was chosen because: “It was here that America’s soul was forged.” She assured the audience that the panel of speakers – Dan DiMicco, President and CEO of Nucor Corp.; Bill Ford Jr., Executive Chairman of Ford Motor Co.; Jeff Immelt, Chairman and CEO of General Electric; John Engler, President and CEO of the National Association of Manufacturers; U.S. Labor Secretary Hilda Solis, and me -- would tell them how to put America back on track.
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December 3rd  - General Brussels Belgium - China’s climate change commitment allows it to increase its CO2 emissions by 75 to 90% by 2020
European steel industry stresses the need for equal treatment of industrial sectors worldwide. “While we recognize the commitment of China to reduce its CO2 emissions per unit of national income by 40 to 45% in 2020 compared to 2005 levels we must point out that this would still lead to an increase of its CO2 emissions by 75 to 90% in 2020, or 5.5 to 6.8 billion tonnes of CO2, which is more than the total of the EU’s CO2 emissions today”, says Gordon Moffat, EUROFER director general. “If any significant step forward to reduce global GHG emissions is to be achieved, and for reasons of fair competition, China and other emerging economies must commit to the same reductions for their industrial installations as the developed countries. Producers of globally traded industrial goods such as steel need a level playing field if carbon leakage is to be avoided and if we wish to see a real reduction in emissions worldwide.”
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December 2nd  - General Nanjing China - China refuses to budge on EU plea to boost yuan
Senior European economic leaders have failed in their bid to persuade China to allow its currency to appreciate, dashing hopes of taking pressure off struggling European exports and the soaring euro. Jean-Claude Juncker, prime minister of Luxembourg and chair of the Eurogroup of finance ministers, warned yesterday sun following talks with senior Chinese officials that it was difficult to justify the yuan's depreciation against a basket of currencies, given China's rapid economic growth. China has kept its currency, the yuan effectively pegged to the U.S. dollar for about 16 months, as free-floating currencies like the euro have seen their value skyrocket next to the struggling greenback. China is the European Union's second-largest trading partner after the United States. But EU exports to China fell to €37-billion in the first half of 2009, compared with €39-billion in the first half of 2008, while imports decreased to €103-billion from €112-billion. As a result, the EU's trade deficit with China dropped from €73-billion in the first half of 2008 to €65-billion in the first half of 2009. The trade relationship between the two has become increasingly acrimonious in that time. China filed a complaint to the World Trade Organization last summer over anti-dumping duties imposed by European countries on imports of its steel wire rods; Chinese exports of shoes and some solar-power technology have also been subject to European charges of dumping, while China has placed anti-dumping tariffs on imports of European nylon in apparent retaliation.
December 2nd  - General Tranås Sweden - Steel industry statistical highlights
U.S. domestic production capacity continues to increase over the historical lows reached earlier in 2009. From September 2008 to September 2009, China’s total steel mill exports decreased 65%, while China’s steel exports to the United States dropped 93%. Both U.S. and Chinese steel production decreased by 3% in September 2009 from August. Price Issues of Note (from Purchasing Magazine) According to industry analysts, steel price increases may be slowing down in the coming months after their modest gains achieved since the summer. In fact, analysts and buyers are forecasting a decline in prices for several products through the end of the year. Prices increases pushed by mills have not taken hold as inventory restocking remains hesitant and steel demand continues to be sluggish. New projections for the automotive industry suggest that production will decline further for the rest of 2009, leaving hopes for a pickup in steel demand to be pushed back until 2011. Prices Steel prices changes were mixed across all product groups in October 2009 from September 2009. The price for hot-rolled sheet remained at $535 per net ton in October, the same price as recorded in September. Cold-rolled sheet increased 0.8% to $630 per net ton from $625 per net ton. Stainless sheet prices increased by 10.9% to $2589 per net ton. Steel scrap prices decreased in October, with auto bundles falling 8.9% to $264 per net ton and heavy melt falling 6.9% to $240 per net ton. Steel prices across all product groups have fallen significantly from the previous year despite recent price increases.
December 1st  - General Welland Ontario - Lakeside Steel supports decision on imported Chinese pipe and tube products
Lakeside Steel Inc. (TSX-V: LS) ("Lakeside Steel" or the "Company") welcomes the Canada Border Services Agency's ("CBSA") preliminary determination that Chinese imports of welded oil and gas well casing and seamless and welded oil and gas well tubing have been dumped and subsidized in the Canadian market. As a result of this determination, preliminary duties of up to 182% began to be applied to imports of oil and gas well casing and tubing from the People's Republic of China on November 23, 2009. CBSA will continue its investigation and issue a final determination on February 22, 2010. The Canadian International Trade Tribunal ("CITT") announced on November 24, 2009, that it was initiating a related investigation to determine whether Canadian producers of oil and gas well casing and tubing have been injured by the dumped and subsidized Chinese imports. The CITT will issue its determination on March 23, 2010. The investigations were initiated by a complaint filed jointly by Lakeside Steel and the other Canadian producers of oil and gas well casing and tubing. "Lakeside Steel is committed to ensuring imports into the Canadian market are fairly traded and will be actively participating in the current investigations involving dumped and subsidized Chinese imports," according to Ron Bedard, Lakeside Steel's President and COO.
November 30th  - General Geneva Switzerland - Lamy expresses regret at violence in Geneva
Director-General Pascal Lamy expressed regret today that the peaceful protest march organized by well meaning members of non-governmental organizations on 28 November had deteriorated into a confrontation which resulted in destruction of property and several arrests. “It is unfortunate that a peaceful expression of discontent from those who have honest differences with the WTO should have been disrupted by the violent acts of a few who want neither dialogue nor constructive interaction. The WTO has been and continues to be open to debate with civil society,” Mr. Lamy said. The events occurred as the 153 WTO Members prepared for the organization's 7th Ministerial Conference to be held 30 November-2 December in Geneva. More than 2,700 delegates are expected to attend along with 400 journalists and nearly 500 members of civil society. The theme of the conference is “The WTO, the Multilateral Trading System and the Current Global Economic Environment.” The conference will not involve negotiations in the Doha Round of trade talks but will instead offer ministers the occasion to discuss and analyse the full spectrum of WTO activities.
November 26th  - General Tranås Sweden - Best wishes to all our friends this Thanksgiving holiday
Next news bulletin will be publish Monday November 30th
November 25th  - General Kuala Lumpur - Melewar eyes RM4b water pipe replacement jobs.
Melewar Industrial Group Bhd hopes to secure as much as 20 per cent of the estimated RM20 billion water pipe replacement contracts on offer nationwide. Executive chairman Tunku Datuk Ya'acob Tunku Abdullah said the pipe replacement contracts are likely to be offered next year by the newly established Pengurusan Aset Air Bhd (PAAB)."With the formation of PAAB, I believe there is a strong possibility that the company will actually start renewing (the country's) water pipes next year," he told reporters after MIG's and its subsidiary, Mycron Steel Bhd's annual general meeting in Kuala Lumpur yesterday. "We hope to get a fair chunk of that (replacement programme). Hopefully, about 20 per cent of the business from PAAB will be good enough. However, it is still too early (to know)," he said. Tunku Ya'acob also said that MIG's associate Mycron, which produces high quality cold rolled coil (CRC) for national carmaker Proton Holdings Bhd, is also in talks to supply the high quality CRC to Perusahaan Otomobil Kedua Sdn Bhd.
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November 24th  - General Sao Paulo Brazil - TUBOTECH 2009 holds its ground as the largest trade fair of the pipe and tube industry in South America
Over 16,500 trade visitors came to see the latest innovations at TUBOTECH – Pipes Fittings and Components International Fair 2009. The fair in Sao Paulo from 6 - 8 October featured the latest products and services in the pipe, pipe making machines, raw materials, measurement and control technology as well as process technology tools, second hand machines and test equipment currently available. Some 320 companies from 15 different countries participated in the trade fair. TUBOTECH offers Brazil and the surrounding countries an excellent opportunity to gather information in their own continent and also offers international exhibitors a gateway to the major and very interesting South American market. The fair’s organizers, Grupo CIPA, Brazil, and Messe Düsseldorf GmbH, Germany, spoke unanimously of an upswing in the market. This was also apparent in the halls, which were full of high ranking trade visitors with whom the exhibitors could have many promising conversations as well as the very high quality stands and booths of the well-known companies that enthusiastically presented their latest innovations, creating a vibrant atmosphere.
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November 21st  - General Gregory Texas - Chinese officials to visit site of planned $1 billion steel pipe mill
A group of Chinese business leaders and officials tied to a $1 billion steel pipe mill project in San Patricio County will tour the facility’s proposed site Thursday before meeting with county officials. Tianjin Pipe Co. through its subsidiary, TPCO America Corp., plans to build a mill on 252 acres east of Gregory to produce seamless casing pipes used in oil and gas wells. The seven-member group visiting includes representatives from TPCO and Chinese economic development and funding groups. They will leave Friday afternoon following a luncheon at the Congressman Solomon P. Ortiz International Center, which will include San Patricio and Nueces counties’ officials, said Leah Olivarri, TPCO’s local spokeswoman.“The main message is welcome,” said San Patricio County Economic Development Corp. Executive Director Josephine Miller of this week’s visit. “We want to let them see the port and industrial properties in San Patricio County. This project has forward momentum.”
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November 19th  - General New York City - Strong US metal imports fuel economic rebound hope
Greater shipments of industrial metals into the United States in September reflect a budding optimism in the economy and relatively attractive prices should keep luring manufacturers into replenishing depleted inventories. The U.S. International Trade Commission on Friday reported that September copper imports soared more than 50 percent from August to 56,012 tonnes. Aluminum shipments were up more than 18 percent to 134,800 tonnes, and zinc and nickel also showed month-over-month gains. Recent data reinforces a brighter economic outlook. The Institute for Supply Management Manufacturing index rose to 55.7 in October, marking the third month of expansion, while a 0.7 percent rise in industrial production and gains in both construction spending and new housing starts added to the positive sentiment. The U.S. will likely continue to ramp up spending, as Feds has indicated they will keep interest rates at extremely low levels and provide ample financial sector liquidity for most of 2010. Out of the $787 billion allocated for the U.S. stimulus program, only about a fifth to a quarter has been spent so far. Much more of the U.S. stimulus money is to come out by end of fiscal 2010, with maximum impact occurring in Q4 2009 - Q2 2010.
November 19th  - General Brantford Ontario - Steel demand slowly picking up but is a long way off peak in 2008
Russian apparent steel demand is expected to rise 15-20 percent next year thanks to robust construction activity, an executive at Severstal , Russia's largest steelmaker, said on Monday. Construction projects and machinery orders will help demand to rise next year in the world's fourth largest steel producing country, Alexander Malanichev, Severstal's head of strategic marketing, told a Metal Bulletin steel conference. However the increase in demand is from an extremely low level as Russian steel demand is expected to drop by 30 percent overall in 2009, compared with 2008. The global steel industry is slowly recovering from one of the worst downturns it has seen in its history. But the rise in orders are yet to be reflected in company results, analysts say. Malanichev said he saw signs of improvement in Russian steel demand but said looming overcapacity was a major threat for the prices, which have risen over the past couple of months from last year's lows.
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November 17th  - General Beijing China - Strong demand leading to steel overcapacity in China
21st Economic Herald citing Mr Tang Bin Chief Engineer of National Development and Reform Commission said in 7th China Iron and Steel Annual Meeting lately held in Beijing that "Now, some small blast furnaces and the outdated facilities which have been closed before are starting operation again." Nowadays, production speed and investment is picking up in China steel industry, driving oversupply to increase again. The data shows, national output of crude steel was posted at 472.47 million tonnes during January to October 2009 edging up 10.5% from one year ago, and the output came at 51.75 million tonnes in the single month of October a growth of 42.4%YoY.
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November 17th  - General Beijing China/Singapore - Chinese Commerce Minister Chen Deming blasted Obama's decision to slap on duties.
Chinese Commerce Minister Chen Deming blasted Obama for slapping on import duties using special anti-surge measure that applies only to China and that Washington had never before used. Chen, in a speech in Singapore, said that action violated pledges Obama and other world leaders had made against imposing new protectionist measures through 2010. "Shouldn't a measure that has never been used, for decades, be considered a new measure?" Chen said. He also took a swipe at Obama's hope of boosting exports to fuel U.S. economic growth, while persuading China and other Asian economies to rely less on selling to the United States and more on their own domestic demand. "Some countries on the one hand want to use every kind of protectionism to revive their employment numbers quickly (and) at the same time want to increase their exports by a lot and turn into the world's biggest exporter," Chen said.
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November 12th  - General Beijing China - What is China up to?
Copper stockpiles held in duty-free warehouses in China, the top user, may be re-exported after surging to as much as 350,000 tons from almost none at the start of the year, according to Xi’an Maike Metal International Group. “We can hardly find buyers for refined copper,” said Luo Shengzhang, general manager of the copper department at Xi’an Maike. The company ranks among the country’s three biggest importers, according to the executive. “China’s got to export some copper from now and next year,” Luo said in an interview. Copper, has more than doubled this year as China’s 4 trillion yuan ($586 billion) stimulus spending, increased state stockpiling and a lack of scrap material boosted China’s imports to a record. That’s helped to drive Chinese prices below London’s since at least July. Xi’an Maike has had to re-route some bonded copper to London Metal Exchange warehouses in South Korea because the company was unable to find buyers in China, with local supply outpacing demand, said Luo. The effect of the stimulus package was wearing off and local scrap supply was improving, he said.
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November 12th  - General Youngstown Ohio - Proposed tariffs on China pipe supports case for V&M expanding Youngstown plant.
A preliminary ruling to impose tariffs on imports of Chinese pipe provides another piece of the puzzle for V&M Star Steel as its owners consider whether to move forward with a $970 million expansion here, U.S. Rep. Tim Ryan said. The preliminary ruling from the U.S. Commerce Department, which found that $2.63 billion of “certain oil country tubular products“ were imported from China in 2008, more than triple the $750 million imported in 2007, set anti-dumping duties of ranging from 36.53% to 99.14%. Parties to the complaint included Maverick Tube Corp., U.S. Steel Corp., V&M Star LP and Wheatland Tube. Ryan, D-Ohio 17, hailed the preliminary decision, along with an earlier one setting tariffs on Chinese-made tires, as doing “exactly what we need to be doing with China, and that’s be very aggressive.” The Chinese are “cheating” on trade, he said, and President Obama has been given the authority to act and he is exercising that authority.
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November 10th  - General Manama Bahrain - Bahrain and Saudi plan new oil pipeline
Pipeline Dubai reported that Bahrain and Saudi Arabia are discussing plans to reroute the proposed transit pipeline that will replace the existing subsea export link between the 2 Gulf kingdoms. The new pipeline is expected to increase its transport capacity from 230,000 barrels per day to 350,000 barrels per day by 2011 in line with future expansions of Bapco’s refinery at Sitra. Dr Abdulhussain Mirza chairman Oil & gas affairs minister and National Oil and Gas Authority said that Noga is now in discussions on the design and the route of the new pipeline currently under study. He said that “The new pipeline will take a different route from the existing line and avoid crowded areas in Bahrain.”
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November 10th  - General Buenos Aires Argentina - Tenaris sees agreement with Italy and Unions by Year-End
Steel tube manufacturer Tenaris (TS, TEN.MI) expects to reach an agreement by year-end or early next year with the Italian government and labor unions over a major restructuring plan for its operations in that country, a senior company executive said Friday. "We are under discussions with the government and the unions, and we understand that we can finalize and define our plan by the end of this year or the first months of next year," Tenaris Chief Financial Officer Ricardo Soler said during a conference call to discuss third-quarter results. The plan, which will be implemented through 2010 and 2011, includes a restructuring of the production facility and a reduction of the workforce, Soler said. "The plan (also) means new capital expenditures for the Italian facility for about $170 million...will take place during 2010-2011," Soler said.
November 9th  - General Buenos Aires Argentina - China Steel Tube Exports Strategy “Unsustainable” competitor says.
China's subsidies for steel tube exports are "not going to be sustainable," and there will likely be a wave of domestic takeovers there, a senior executive at steel tube maker Tenaris said Friday. China's manufacturers have "gone to the international markets with non-market principles," Vice President of Finance Guillermo Vogel said during a conference call to discuss third-quarter results. The country's exporters have the advantage of an undervalued currency, heavy subsidies and a 13% tax rebate on exports, he said. The number of unfair trade cases being brought against China is increasing, in countries such as the U.S., Europe, Canada, Mexico, Argentina and Russia, pushing Chinese companies "a little bit backwards," Vogel said. The executive said that in today's environment, he doesn't believe Chinese companies have competitive advantage in terms of costs. He also said there is likely to be consolidation. "China is a very fragmented market and we're going to see a restructuring and a consolidation there," Vogel said. The Chinese market, boosted by a mammoth government spending plan, is also absorbing a higher volume, which means less exports, said Alejandro Lammertyn, the firm's commercial director."We must also consider that China's stimulus plan for the economy has required a lot of production for the domestic market," Lammertyn said. "This is also keeping a lot of the production capacity for China."
November 7th  - General London U.K. - MEPS forecast global steel prices to fall in December
US transaction values for some products are a little higher than a month ago. However, the last round of proposals for higher prices do not appear to have been implemented, so far. Although October/November mill bookings are good for the available capacity, December is filling up very slowly. The steelmakers may start to offer discounts in order to solicit business before the year end, despite a lack of any real import competition. Distributors report that their sales have slowed dramatically in October, reflecting the poor state of consumption in most end-user sectors
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November 7th  - General Hamilton Ontario - U.S. Steel recalls 63 workers.
It sounds like good news but the Stelco Union sees the move as a bid to bypass severance payments for its Nanticoke employees. Labor relations have historically been bad at Stelco, a company that grew fat and complacent behind a tariff wall and where the Union resorted to extortion tactics to achieve contracts that were the envy of Canadian workers. Anyone that is familiar with steel making would agree the workers were worth every penny they made. The problem was not labor cost as nearby Dofasco paid the same salary and benefits. What made the wheels fall off the cart was the “them versus us” attitude between management and labor. As profit dwindled Stelco piled on debt. The Ontario government stepped in and bailed the bankers out. U.S. Steel saw an opportunity to acquire Stelco’s Lake Erie plant, one of North Americas most modern flat steel facilities built to supply the auto industry. Now US Steel are stuck with a plant they need like a hole in the head, legislation that calls for a costly severance package, and a Canadian government that expects US Steel to live up to its contractual obligation to keep the plant operating. The Hamilton spectator had an article this week that we would like to highlight.
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November 6th  - General Brantford Ontario - Speculators about to get burnt as copper inventory builds
Concerns about the state of global demand for copper continue to persist, with worries about rising copper stocks and a fall in US consumer confidence underlining these fears. Global consumption for the red metal slipped 1.3 per cent in the first seven months of 2009 as compared to the corresponding period last year, the International Copper Study Group reported. The index of consumer confidence was recorded at 47.7 in October this year from 53.4 last month, the Conference Board, a business-backed research group, reported. Copper prices have more than doubled in 2009 on speculation that reviving economic growth will spur consumption. But as in the case of other metals, hopes are riding high on China which had surprised markets (with its 5th heaviest copper imports in September).
November 5th  - General Pittsburg California - United Spiral Pipe Dedicates New Facility
United Spiral Pipe LLC (USP), a joint venture of United States Steel Corporation, POSCO and SeAH Steel Corporation formally dedicated its new state-of-the-art spiral welded pipe manufacturing facility in Pittsburg, California, today. The plant is expected to provide approximately 120 new full-time manufacturing jobs to Northern California at a time when U.S. manufacturing jobs are under pressure. Approximately 320,000 hours of local building and construction tradelabor was required to build the new facility. "We`re proud to be a partner with POSCO and SeAH in bringing this impressivefacility on line and creating manufacturing jobs that will benefit the community," said John P. Surma, chairman and CEO of U. S. Steel. "The capacity and location of this facility will favorably position United Spiral Pipe to be an active, competitive participant in the expanding market for large-diameter line pipe in North America."
November 5th  - General Beijing China - Chinese steel mills rebound stalls on overcapacity created by the nation CNY 4 trillion stimulus spending.
Baoshan Iron & Steel Co and Angang Steel Co are both posting the best quarterly profits in at least a year but are now facing slower growth as oversupply in the world largest steel producing nation put pressure on prices. Baoshan China’s largest mill said demand is easing amid rising pressure from overcapacity. Angang Steel Co said on October 27th that earnings this quarter will be less than net income in the past three months. Benchmark Chinese steel prices have fallen 21% from a 10 month high on August 4th as production overwhelmed demand fueled by the nation CNY 4 trillion stimulus spending. Steel output in China reached highs in four months this year spurring record imports of iron ore from producers such as Rio Tinto Group and Vale SA.
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November 4th  - General Hong Kong - RUSAL in 1.68 million tonne China aluminium supply deal
The world's top aluminium producer, Russia's UC RUSAL, has struck a contract to sell 1.68 million tonnes to Chinese state defence firm NORINCO in 2010-2016, the Russian firm said on Monday. A source at the Chinese firm, officially known as China North Industries Corporation (NORINCO), said the deal meant RUSAL would supply 20,000 tonnes of aluminium a month to Shanghai for sale on the spot market. He said pricing had yet to be finalised, although RUSAL denied this. "RUSAL and Norinco have agreed the price and all other terms and conditions of the aluminium delivery," the Russian firm said in a statement emailed to Reuters. RUSAL is urgently trying to reach agreement with foreign creditors on $7.3 billion of debt by mid-November to pave the way for a Hong Kong share listing that would help pay off debt, senior bankers said last week.
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November 2nd  - General London U.K. - MEPS sees African steel industry emerging from recession
Steel consultancy MEPS said that the African steel industry would emerge from the global economic downturn with only limited damage. Releasing its forecast for the year, MEPS said that mill output in 2009 was likely to decline by 2 million tonnes on the outturn last year to just above 15 million tonnes. This represented a reduction of 11.6%. By comparison, global steel production is expected to be 1.2 billion tonnes this year, a 9.5% reduction on the outturn in the previous 12 month period but still significantly above predictions by most pundits earlier in the year.MEPS said that "This indicates that scrap-based electric melting will turn out to be the main casualty in the supply of steel over the year. The steel sectors in most industrialized nations have been badly hit by the economic crisis." Source SteelGuru
October 27th  - General Columbia Falls Montana - How they are turning off the lights in America (“A letter to the editor”)
On October 31, 2009, the once largest aluminum plant in the world will shut down. With it goes another American industry and more American jobs. The Columbia Falls Aluminum Company in Montana will shut down its aluminum production because it cannot purchase the necessary electrical power to continue its operations. How did this happen in America? America was once the envy of the world in its industrial capability. America's industrial capacity built America into the most productive nation the world had ever known. Its standard of living rose to levels never before accomplished. Its currency became valuable and powerful, allowing Americans to purchase imported goods at relatively cheap prices. America grew because of innovation and hard work by the pioneers of the industrial revolution, and because America has vast natural resources. A great economy, as America once was, is founded on the ability to produce electrical energy at low cost. This ability has been extinguished. Why? Columbia Falls Aluminum negotiated a contract with Bonneville Power Administration in 2006 for Bonneville to supply electrical power until September 30, 2011. But, responding to lawsuits, the 9th US Circuit Court ruled the contract was invalid because it was incompatible with the Northwest Power Act. Therefore, the combination of the Northwest Power Act and a US Circuit Court were the final villains that caused the shutdown of Columbia Falls Aluminum.
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October 27th  - General Paris France - Technip awarded contract for the Goliat Field development in Norway
Technip has been awarded by Eni Norge AS an engineering, procurement, construction and insta llation contract, worth approximately €200 million, for the Goliat field development(1). Goliat will be the first Norwegian oil producing field north of the Arctic Circle in the Barents Sea. The field is located approximately 85 km northwest of the city of Hammerfest on the Norwegian coast. The lump sum contract includes supply and installation of the infield pipeline systems, including flexible risers(2), clad production flowlines(3) complete with direct heating systems, water and gas injection flowlines. The contract also comprises the installation of the Company provided subsea production system, including umbilicals(4), templates and riser bases.
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October 26th  - General Washington D.C. - US DOC initiates AD investigations of seamless tubes from Mexico and China
On October 21st 2009, the Department of Commerce announced its decision to initiate antidumping investigations on imports of seamless refined copper pipe and tube from Mexico and China. The petitioners for these investigations are Cerro Flow Products Inc, Kobe Wieland Copper Products, Mueller Copper Tube Products Inc and Mueller Copper Tube Company Inc.
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October 21st  - General Hamburg Germany - Aurubis Monthly summery of the Copper market
The LME Week, during which the copper world meets in London each year to exchange opinions, is now over, but nothing has changed in the „wait and see“ attitude of many market participants. This also applies for the copper price, which is still moving above the US$ 6,000/t mark. Although attention is again on the production side due to the ongoing collective bargaining and possible strikes, the focus is mainly directed on the demand side of the market. Almost everyone is in agreement that the strong decline in global economic activity has come to an end and is bottoming out. Even the International Monetary Fund has meanwhile announced an end to the economic and financial crisis. But the concrete recovery signs in the real economy are rare and differ greatly, both regionally and from industry to industry. The extent of the recovery is also unclear, because global trade and production are still at a very low level. It is however expected that the emerging markets, which play an increasingly important role in the trend in copper demand, will recover from the crisis relatively quickly. For the complete Coppermail number 66 use this link
October 20th  - General Weybridge Surrey U.K. - Could copper really fall to $1,500 a tonne by mid-decade?
A copper price scenario that suggests a sharp fall, followed by a boom, followed by an even more precipitous collapse as the world dips into a second phase of this current recession. One can hardly call copper and China specialist, Simon Hunt, a copper bull, but his latest assessment of the global copper market is gloomy to say the least. However Hunt is not the first to suggest a copper price below US$ 2000 a tonne. As late as in February this year CRU dtated that based on industrial consumption and availability of copper a price around US$ 2000 a tonne was not out of the question. Presently speculators and a falling dollar are driving the price forcing wire cable and tube producers to tie up more and more money in work in progress inventory.
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October 17th  - General Panzhihua Sichuan China - Pangang join protest over AD move on Chinese seamless steel pipes
It is reported Pangang has strongly opposed on unreasonable punishment on Chinese made seamless steel pipes by Europe and United state during 8 day Holiday. Some insiders from Pangang Group pointed out that company may respond to action on the investigation by itself. And seamless steel pipes are domestic major steel pipe products all the way. Meanwhile, China's steel enterprises have to renovate their trading mix and promote industrial upgrading for the overall industrial enhancement by this opportunity. The higher tariffs arouse some steelmakers’ great indignant which further aggravate domestic steel industrial competition and go against WTO trading principles.
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October 16th  - General Beijing China - Steel Price decline in China will force output cuts
Steelmakers in China, the world’s largest producer, will be forced to cut output in the next two months as prices continue to decline because of oversupply, Jiangsu Shagang Group Co. said. Prices may drop by between 5 percent and 10 percent for the rest of the year, Shagang Chairman Shen Wenrong said at the recent World Steel Association conference in Beijing. The Zhangjiagang, Jiangsu province-based steelmaker is the nation’s fifth-largest mill and the biggest maker of steel wires and rods used in construction. Steel prices in China have dropped 25 percent since reaching a 10-month high on Aug. 4, as overproduction offset rising demand created by government spending. Wuhan Iron & Steel Group, China’s third-biggest, may carry out annual maintenance which will reduce output, Wuhan General Manager Deng Qilin said this week. “Prices will drop further until a large number of the steelmakers record losses,” Shen said. “Overcapacity in flat products is worse than long ones. That would hurt bigger steelmakers because they are the major producers of flat products,” he said.
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October 16th  - General Perth Australia - Valin’s Li seeks acquisitions to double steelmaking capacity
Bloomberg news reported that Hunan Valin Iron & Steel Group, a Chinese investor in Australian iron ore producer Fortescue Metals Group Ltd., is seeking acquisitions to double its steelmaking capacity to 30 million metric tons in three years. The mill will buy competitors through a joint fund with state-owned China Huarong Asset Management Corp., Chairman Li Xiaowei, 57, said in an Oct. 13 interview in Beijing. Hunan province-based Valin is China’s ninth-largest steelmaker, and its output last year was a third of Shanghai’s Baosteel Group Corp., the nation’s biggest producer. China, the world’s largest steelmaking nation, is working on plans to advance mergers among its mills to curb excess capacity and boost their buying power for raw materials, the nation’s steel association said this week. An acquisition may occur by the end of the year, Li said. “We’ll have a noteworthy achievement during China’s reshuffle of the steel industry,” Li said. “We’ve got an investment fund to carry out acquisitions. We will inject those assets into our listed unit later.”. The Valin group produced 11.3 million tons of steel last year.
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October 15th  - General Beijing China - Steel giants refuse to cut output despite price plunge
China's steel prices have dropped around 1000 yuan per ton from its peak in August. However, most domestic steel producers say that they won't reduce output as long as they are still profitable. Wu Chunxi, an advisor at China Iron and Steel Association (CISA), pointed out that judging from the country's steel output in September, China's total steel output in 2009 may top 618 million tons. In the first eight months this year, the apparent consumption of steel has increased by 16 percent. If the steel mills refuse to cut production, the growth of apparent consumption of steel is expected to exceed 100 million tons. "That is too much for China's domestic steel market," said Wu.
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October 15th  - General Fulton Mississippi - Mueller Copper Tube to lay off 37 workers
A company official says Mueller Industries has cut its work force by 12%, reducing the number of workers at a Fulton plant by 37. Michael Simmerman, the plant manager of Mueller Copper Tube, said the company cut employees at its Fulton location on Monday. The company employs 270 people. It is the second layoff for the plant this year, with 19 layoffs in September. Simmerman blamed the cuts on "declines in residential and commercial construction activity,"
October 15th  - General Brantford Ontario - Not wire tube or cable news, but interesting dilemma all the same.
The FCC has started an investigation into Google Voice. The new service offers users a phone number with a number of call and messaging management features. Incoming calls can be forwarded, while outgoing calls make use of the Bandwidth.com IP network, resulting in cheap calls in the US and Canada. Google Voice is a call-back service, where the user gives both the number of who he wants to call as well as his own number (fixed or mobile) that he wants to use. The service is still restricted to a limited number of users and available by invitation only.
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October 13th  - General Tallmadge Ohio - Industrial Tube and Steel opens new facility
Industrial Tube and Steel, a company with longtime roots in Akron, recently moved and opened a new larger facility in Tallmadge's Crystal Parkway. The company closed its doors in Akron and brought its 37 employees to Tallmadge in August. Richard Siess, CEO of the company started by his father, Edmond, 53 years ago, said construction finished around August, when work began inside the new building. The city is planning a ribbon-cutting ceremony for the 110,000-square-foot facility Oct. 13 at 1:30 p.m. "It has to be one of the top five or six biggest sized business structures in the city, that's a neat thing," said Mayor Christopher Grimm. "They brought some good employees here and they are well established." The mayor added the business will be good for the city financially too as it will "bring in income and property taxes as well" which the mayor said is great for the city because of a recent decline in income tax dollars this year.
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October 13th  - General Beijing China - China's steel enterprises unite to cope with anti-dumping case
On October 7, the U.S. Department of Commerce declared that it will launch anti-dumping and countervailing investigations on seamless steel tubes imported from China. China Iron and Steel Association (CISA) is coordinating the enterprises in order to cope with the investigations China's Ministry of Commerce (MOFCOM) of China has adopted a "multi-facet" strategy to cope with the situation, and a coordinated coping mechanism integrating the MOFCOM, local governments, industrial associations and related enterprises is expected to soon form.
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October 12th  - General Brantford Ontario - Canada Celebrates Thanksgiving
There will be no newsbulletin today News reporting will resume Tusday October 13
October 10th  - General Brantford Ontario - Kick the enemy in the face when he lies in the gutter - It is called survival of the fittest and lets the winner take all.
Reuters reported that CEO of Germany's second largest steelmaker sharply criticized rivals like ArcelorMittal for plans to increase production in the middle of a structural crisis in the industry. Dr Wolfgang Leese CEO of Salzgitter AG in an interview with Financial Times Deutschland while referring to demand stemming from inventory restocking he said that "We only have a small temporary peak that in my view will last until the end of the year roughly.” He added that "It is incomprehensible that steelmakers are starting to ramp up their blast furnaces.” Mr Leese said he could not say when his own third blast furnace, which has been out of operation since the end of March, would be brought back on line.
October 10th  - General Pittsburgh Pennsylvania - Canadian court ‘erred’ in Lakeside Steel decision, USS says
A war of words appears to have erupted between U.S. Steel Corp., Lakeside Steel Inc. and Canadian judicial officials, court documents reveal. In an often harshly worded legal motion, U.S. Steel argued that legal authorities in Canada were "clearly wrong" and "erred" in interpreting their own laws by granting "intervener" status to Lakeside Steel and the United Steelworkers union. The Pittsburgh-based steelmaker would like to see Prothonotary Martha Milczynski's order to grant intervener status to Lakeside Steel and the USW dismissed. "Milczynski was clearly wrong and erred in law in permitting (Lakeside and the USW) to lead evidence and make arguments on the issue of remedy," U.S. Steel said in an appeal motion filed in Federal Court in Canada. Lakeside Steel, a small pipe and tube manufacturer based in Welland, Ontario, would like to see U.S. Steel forced to relinquish control of its Canadian facilities, the former Stelco.
October 9th  - General Washington, U.S.A. - Import Duties Considered on Chinese Subsidized Steel Pipes
A probe was launched by the U.S. to consider adding almost 100 percent tariffs on imported steel pipes from China.  This move could widen the disputing trade dealings between the two major economic powers. Washington has decided to "initiate antidumping and countervailing duty investigations on imports" of Chinese "seamless" pipes used to convey water, steam, chemicals, oil products and natural gas, the Commerce Department said.  The pipes were allegedly unfairly produced with funding backed by subsidies. Dumping occurs when a foreign company sells a product in the United States at less than normal value. Subsidies are financial assistance from foreign governments that benefit the production, manufacture, or exportation of goods.
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October 7th  - General Moscow Russia - Russian steelmakers’ plans for world domination are in tatters.
A spending spree on U.S. mills meant to lift their billionaire owners into the industry’s top rank is instead forcing them to renegotiate debt and write down assets. OAO Severstal, the biggest producer, may sell some of the U.S. plants it bought for almost $4 billion at fire-sale prices or seek bankruptcy for them, Uralsib Financial Corp. analyst Dmitry Smolin said. Outstanding debt at Severstal and next- largest producer Evraz Group SA almost tripled after they ramped up buying in 2006, while the cost of funding debt in Russia has risen by about 50 percent, according to data Bloomberg compiled.
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October 6th  - General London U.K. - Copper price may zoom to $7,500/t by 2010
Everybody is guessing very few, if anyone knows. One thing can be assumed, the purchasing power of the US dollar will fall so Fortis Metals Monthly newsletter that suggests that we will see a copper price of $ 7500 per ton in 2010 may not be that far off. Fortis argues that China remains important in determining copper's price direction, but its influence is starting to become diluted, with the metal market's attention now a bit more focused on the shape of Western economic recovery. The decline in Chinese imports of unwrought copper and copper products in July and August symbolises this changed sentiment. After successive monthly increases since October 2008 (apart from a minor blip in January 2009), July and August saw a reversal of that trend.
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October 5th  - General Brantford Ontario - World Bank and IMF join global attack on the dollar!
This week, the International Monetary Fund and the World Bank have begun adding their voices to the international choir calling for a new global reserve currency. World Bank President Robert Zoellick warned that the dollar's status will be challenged and shouldn't be taken for granted. It's likely that the role of special drawing rights (SDRs) based on a basket of currencies will be discussed as an alternative to the dollar during meetings of the World Bank and IMF in Istanbul next week. Meanwhile, global governments, central banks, companies and investors continue to slash their dollar holdings. According to the IMF, in April through June of this year, the greenback's share of global currency reserves fell to the lowest level in a decade. Holdings of euros, by contrast, rose to a new all-time record high. All this adds weight and momentum to the devaluation of the dollar.
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October 5th  - General Baltimore Maryland - Sparrows Point once the largest steel mill in the world to cut 580 jobs or 1/3 of its present workforce.
United Steelworkers Local 9477, that represents 2,500 Sparrows Point steel mill workers, said that the plant's Russian owners' proposed restructuring could affect nearly a third of the work force. Mr John Cirri president of United Steelworkers Local 9477 said that Russian steel company Severstal's restructuring proposal details different ways about 580 jobs could be affected, including reductions, retirements or transfers. Severstal bought Sparrows Point last year in an USD 810 million deal and it's working out what to do with its five US plants, which have lost significant business because of the economic downturn. Mr Cirri said that Sparrows Point is making about 8,000 tonnes of liquid iron a day and has the capacity to make 10,000 to 10,500 tonnes. He added that any decisions on job losses would have to be negotiated with the union.
October 5th  - General Kiev Ukraine - Ukrainian stainless steel pipe maker Centravis gets EBRD support
SteelGuru reports that the European Bank for Reconstruction and Development has decided to invest EUR 10 million in the authorized capital of the Ukrainian seamless stainless steel tube producer Centravis Production Ukraine a part of Centravis International Holding set up on the premises of Nikopol South Pipe Plant and also to offer the company syndicated credit of EUR 48 million. The financing in question targets the improvement of Centravis balance sheet by way of increasing its authorized capital and via the establishment of an adequate ratio between the short term and long term debts of the company. It also targets a further improvement of the company ecological standards, as well as an increase in corporate management standards. The total value of the project amounts to EUR 76 million.
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October 3rd  - General Brantford Ontario - Ontario Will there be life after the stimulus money is spent? (Editor’s weekend reflection)
Not surprising September was a grim for the nation's automakers: Ford Motor today said sales were down 5.1 percent from a year earlier, Chrysler sales plunged 42 percent, and for General Motors, sales were down a staggering 45 percent. As for foreign automakers, Honda said its North American sales dropped 23.3 percent, and Toyota's sales were down 16.1 percent. In a country with more than one car per person all the government's Cash for Clunkers program did was to push buyers to make deals before the program expired. There were some glimmer of hope for the rest of the US industry as manufacturers continued to report a fairly widespread improvement in activity levels last month as the inventory de-stocking cycle ends and final demand picks up slightly. The Institute of Supply Management (ISM)'s composite business activity index (52.6) remained above the 50-point threshold dividing expanding activity from a contraction for the second month running. The survey data is consistent with signs of a modest pick up rail freight movements, and points to a cyclical turning point. Manufacturers reported widespread increases in both current production (55.7) and new orders (60.8). Firms reporting month-on-month improvements outnumbered those reporting declines by a margin of two-to-one.
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October 2nd  - General Luxembourg - Tenaris to cut about a third of staff at Dalmine
SteelGuru reports that Tenaris SA is proposing to cut about a third of its staff in Italy as part of a strategic repositioning of its business. As per report, Tenaris SA's Italian unit Tenaris Dalmine SpA has presented a two year industrial plan that includes EUR 114 million of investments that will guarantee the company's long term continuity. Mr Vincenzo Crapanzano CEO of Tenaris Dalmine SpA said that "The scenario has radically changed, It is clear there will be structural consequences. It is time for tough, difficult decisions." According to a joint statement from the FIM, FIOM and UILM labor confederations, unions are planning 10 hours of strikes at Tenaris's five Italian plants. The first protest is scheduled October 2nd 2009 at the Dalmine facility. It may be noted that Tenaris, whose shares traded in Italy, Argentina, Mexico and the US, is seeking to reduce costs as demand slumps because of the worst recession since World War II and as competition increases from producers in China.
October 1st  - General Frankfurt Germany - Deutsche Bank sees EU steel output to remain sluggish
According to a report released by Deutsche Bank, production in the European Union's all important steel industry will remain sluggish in the coming years. Deutsche Bank also stressed the need for innovation in the steel making industry, in order for Europe to remain competitive against the booming rise of the Asia as a steel producer. The current situation in the steel industry makes for a grim reading. As the international financial crisis deepened in September 2008, the international steel industry spiraled into an abrupt decline. In the first-half of 2009 crude steel output in the EU 27 was down 43% on the previous year as demand plunged. European wire rod prices remain unchanged as demand remains weak as stockists and fabricators continue to run down stocks.
September 30th  - General Toronto Ontario - Unusually rapid recovery in industrial metal prices.
Copper prices were little changed in New York and fell on the London Metal Exchange as a stronger dollar curbed demand from investors who buy commodities as a hedge against inflation. A "modest" rise in commodity prices this August is yet another a signal that the global economy is beginning to revive from the ravages of the recession, according to Scotiabank's commodity price index. The bank said Tuesday its gauge of price trends in 32 of Canada's major exports was up 3.5 per cent in August, after falling in July, with base metal prices returning to profitable levels as demand picked up from China and India. Scotiabank noted that its index hit a bottom that was higher than normal, compared with previous economic downturns, citing "an unusually rapid recovery in industrial metal prices."
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September 30th  - General Paris France - Vallourec sees significant margin drop
Reuters reports that Vallourec's operating margin will decline significantly in the coming quarters though the seamless tube maker will not post losses. Mr Philippe Crouzet CEO of Vallourec said that "We will have a significant decline in operating margin in the coming quarters, but we will not fall as low as in previous cycles." Mr Crouzet added that the group did not need a capital increase because it was not heavily indebted. In July, Vallourec forecast a fall in second-half sales and operating profit and predicted a low point in activity in the third quarter.
September 29th  - General Johannesburg South Africa - ArcelorMittal SA dismisses pollution claims
AP via SteelGuru reports that ArcelorMittal SA has dismissed allegations of severe environmental damage and unethical business practices at the mill. In 2002, the company took over the 67 year old plant that residents and environmental groups say has polluted their lives. Company officials acknowledge there is air and water pollution but say that emissions comply with legislation and that clean up operations are under way. They also say there are regular meetings with communities to address their concerns. Ms Nku Nyembezi Heita CEO of ArcelorMittal SA was quick to distance the company from any damage caused by activities of the mill before the new management took over. She acknowledged that Steel Valley is an emotional issue but said there are no immediate plans to rehabilitate the land. She added that "Where we have caused harm, our duty is to take responsibility."
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September 29th  - General Örebro Sweden - Mondi Group invests in latest high efficiency copper shelled chill roll technology from BEP Surface Technologies
Chill roll manufacturer BEP Surface Technologies has supplied its biggest ever copper shelled chill roll to Mondi Örebro AB in Sweden. Measuring 900mm diameter x 3350mm long and weighing five tonnes, the high efficiency chill roll has the capability to dramatically increase running speeds whilst at the same time reducing cooling cost due to its much higher thermal efficiency. The new roll design will enable Mondi to manufacture products to specifications not possible with previous rolls.
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September 28th  - General New York City - Bankruptcy judge gives final approval of Delphi’s $250 million credit facility
U.S. Bankruptcy Judge Robert Drain on Tuesday gave final approval to the use of the credit facility, which will be provided by Delphi Corp.’s former parent General Motors Corp.The Troy, Mich.-based auto supplier will use the funding to keep itself going until the expected sale of some of its assets to an affiliate of private equity firm Platinum Equity or another party. If successful, the company could emerge from bankruptcy protection after nearly four years of court oversight as early as this summer. GM will provide $2 billion to help finance the deal. It also will acquire some of Delphi’s North American plants.
September 28th  - General Beijing China - CISA opposes EU's anti-dumping duties on seamless steel pipes
China Iron & Steel Association (CISA) strongly opposes the European Union's (EU) five-year anti-dumping duties on Chinese-made seamless steel pipes, claiming that it may submit an application to the World Trade Organization (WTO) to settle the dispute. Since the EU's investigation July 9 last year, CISA organized such groups as CITIC Pacific, Hengyang Valin Steel Tube (Hengsteel), Tianjin Pipe, Panzhihua Iron and Steel Group Chengdu Seamless Steel Tube, WSP Holdings, Baosteel, and Angang Steel to represent 210 companies involved to counter the claims in the investigation with supporting data in the hearing on EU anti-dumping actions.
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September 26th  - General Brantford Ontario - International capital flow off 82% since peak in 2007.
A new report by the McKinsey Global Institute highlights the impact of the global financial crisis on global capital flows. The global financial crisis and worldwide recession abruptly halted nearly three decades of expansion for international capital markets. From 1980 through 2007, the world’s financial assets—including equities, private and public debt, and bank deposits—nearly quadrupled in size relative to global GDP. Global capital flows similarly surged. But the upheaval in financial markets in late 2008 broke this trend. The total value of the world’s financial assets fell by $16 trillion last year, to $178 trillion, the largest setback on record. One of the most striking consequences of the financial crisis was a steep drop-off in cross-border capital flows, which include foreign direct investment (FDI), purchases and sales of foreign equities and debt securities, and cross-border lending and deposits. These capital flows fell 82 percent, to just $1.9 trillion, from $10.5 trillion in 2007. (A sharp drop in cross-border lending was the biggest reason capital flows dried up.) The trend appears to have continued in the first quarter of 2009, with global capital flows falling to an estimated $1.5 trillion on an annualized basis.
September 26th  - General Tokyo Japan - Japan’s Copper Alloy output may fall to 34-Year low
Japan’s output of copper and copper alloy fabricated products may decline by 11.5 percent this fiscal year to the lowest in 34 years, according to the Japan Copper and Brass Association. Production for the year that began in April is forecast to drop to 713,930 metric tons from 806,999 tons the previous year, the association said today, citing preliminary data. That would be the lowest level since 1975, when the country produced 574,000 tons. Output dropped 21 percent to 55,700 tons in August from a year earlier, the smallest decline since November, the data showed. As earlier reported Japan’s August copper cable shipments down 17.7 percent yr/yrsee wirenews September 18th, 2009
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September 26th  - General Moscow Russia - RUSAL repays $85.9 million Alfa debt after bankruptcy threat
Indebted Russian magnate Oleg Deripaska's aluminium company said on Thursday it repaid debts worth $85.9 million to Alfa-Bank after the private lender threatened to pursue the bankruptcy of two RUSAL units. See also wirenews September 22nd, 2009 Rusal trying to restructure $7.4 billion debt after LIA talks fail UC RUSAL, the world's largest aluminium producer, said in a statement it had spoken to its major creditors and agreed to pay the money to Alfa-Bank to soothe a long-running feud over debts between Deripaska and Alfa's principal owner, Mikhail Fridman. "Alfa-Bank welcomes this step by UC RUSAL and we hope that we can reach constructive and mutually acceptable resolutions on other issues," the bank's deputy chief executive, Vladimir Tatarchuk, said in a statement confirming receipt of payments. Deripaska, rated Russia's richest man by Forbes magazine before the financial crisis struck last year, is in protracted talks with Russian and international lenders to restructure the debts faced by his various companies. The resolution of his various disputes with Alfa could prove crucial in his attempts to keep his industrial empire intact.
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September 25th  - General Brantford Ontario - Pittsburgh steels for G20 protests
Activists gave an angry welcome for leaders of the G20 economies when they arrived in Pittsburgh Thursday, with anarchist factions marching on the summit venue. "The city has bought a thousand canisters of tear gas. That's something people are concerned about, like what to do if they're gassed," Noah Williams, a spokesman for the Pittsburgh G20 Resistance Project told AFP. The world leaders at the G20 meeting were meanwhile closing in on a statement calling for new restraints on banker pay, but would not endorse specific monetary caps, a deal-breaker for the United States. Maybe the world leaders should instead focus on what to do with the millions of American and European workers that have been financially displaced by globalization. The trillion dollars spent to support ailing car plants and bailout banks is hardly going to change the fundamentals.
September 25th  - General Vienna Austria - Voestalpine unveils new structure for special steel division
The supervisory board of voestalpine AG has agreed for extensive restructuring of the special steel division Bohler Uddeholm AG, which will focus the division much more strongly on its key area as a highly specialized, global niche supplier of special steel. Aim of restructuring is to focus the Special Steel Division more strongly on its key areas of High Performance Metals and Special Forgings in addition to reducing management complexity. Welding Consumables area will be assigned to the Railway Systems Division. Precision Strip area will become part of the Profile form Division. As per announcement “The companies of the High Performance Metals and Special Forgings areas will be combined under their own holding company and will form the future Special Steel Division in the voestalpine Group. Bohler Uddeholm AG remains this holding company. The Welding Consumables area will be assigned to the Railway Systems Division as an independent area because Welding Consumables is an excellent complement to this division’s product range. The Precision Strip area will become part of the Profile form Division.”
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September 25th  - General Brussels Belgium - EU impose duties on Chinese seamless steel pipe
The European Union on Thursday decided to slap five-year duties on steel pipe imported from China on alleged dumping charges. The long-term tariffs were up to 39.2 percent as a punishment to Chinese exporters for allegedly selling seamless pipe and tubes below cost in the EU, the European Commission said. The decision was based on a vote at the end of July by trade officials and experts from EU member states. The five-year duties, which are much higher than the provisional ones imposed in April, will take effect after the EU's Official Journal publishes the decision by Oct. 8.
September 22nd  - General Moscow Russia - Rusal trying to restructure $7.4 billion debt after LIA talks fail
RusAl, the world’s largest aluminium producer, is racing to complete debt restructuring plans after talks with the Libyan Investment Authority (LIA) and other sovereign wealth funds failed, The Times of London reports. RusAl which is controlled by Oleg Deripaska, the Russian oligarch, and which is estimated to have been worth as much as $30 billion at the height of the commodities boom has to restructure about $7.4 billion (£4.5 billion) worth of debt to foreign banks.
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September 22nd  - General North Wales Pennsylvania - Striking workers at Precision Tube retured Monday
Union steel workers at Precision Tube Co. voted Thursday to end a 35-day strike and accept a three-year contract, according to Norm Hayman, a negotiator for the United Steel Workers Local Union 6816. Hayman said the 62 employees will return to work Monday at the Upper Gwynedd facility. By a vote of 35 to 23, the union accepted a deal — which will expire in September of 2012 — that maintains their four personal days, caps the second-tier work force for 25 percent and limits their requirements of mandatory overtime, according to Hayman, a USW District 10 negotiator."We didn't achieve every goal," he said. "But we came a long way. It's a much better deal than they had when (the negotiations) started. I'm happy they are going back to work." Ron Shaw, the plant manager, did not confirm or deny the vote. "I have been instructed to respond by saying, 'No comment'," Shaw said Friday morning.
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September 21st  - General Sydney Australia - WorleyParsons secures steel works with United States Steel
Sydney-based WorleyParsons has been awarded a contract by United States Steel to form an alliance to support four of its steel works and tube making operations.Facilities that are part of the alliance include the Great Lakes Works, Edgar Thomson Works and Fairfield Works, all of which are integrated steel mills. The agreement also covers the rolling mills and finishing activities of the Gary Works, in Indiana, and the Lone Star Steel’s tubular operations in Texas, together with significant tube and rolling mills in other states. According to WorleyParsons, it will work with US Steel to help improve safety performance, productivity and efficiency at its steel facilities. The agreement will commence in November 2009 and have a nominal term of three years and is worth about $US50 million ($A57.42 million) in revenue.
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September 19th  - General London U.K. - For copper it's still all about China
The copper market is losing its fixation with China now that the country's imports of copper have peaked. When China's imports of the red metal were surging in the first half of the year, each fresh monthly set of trade figures was eagerly awaited and each fresh record high (there were five of them starting in February) was more grist to the bull mill. The record highs have come to an end and so too has the previous euphoria. What's more, China appears to be stuffed to the gills with copper. Shanghai stocks are rising, up 46,000 tonnes since the beginning of August and there is plenty more off-market inventory, both within the country and in its bonded warehouses (not customs cleared). Demand for imported copper has visibly waned in the form of soggy Shanghai premiums. Reuters assesses the current range for imported copper at $50-$80 over LME cash, compared with $250 and above during May, just ahead of June's import peak. The copper market has responded by shifting its focus to the developed world, where restocking is widely expected to take over as the driver of higher copper prices. The conspicuous absence of such restocking, so far at least, is one of the main reasons why copper is currently still marking time in its late-summer range.
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September 19th  - General Kuala Lumpur Malaysia - Rollout of various projects bolster steel mills bottom-lines
OSK Research Sdn Bhd continues to have high expectations of the rollout of projects under various stimulus packages, bolstering steel millers' bottom-lines, especially in the upcoming calendar year. In a research note Monday, the research firm said local steel mills may continue to export billets to the South East Asian market as China's imposition of a 25 per cent export tax had created a vacuum in supply. It said an improvement in the economies of the Middle East countries, Australia, Pakistan and Bangladesh would also be a boon to Malaysia's billet exports. Despite the fact that steel prices and demand are expected to be volatile in the coming year, OSK Research said the market will be searching for "recovery plays", which would put the steel counters in the limelight given that the stimulus packages worldwide will translate into physical steel demand.
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September 17th  - General Brussels Belgium - Phillip Townsend Associates, Inc. (PTAI) signs agreement with EUROFER to benchmark CO2 emissions performance of European steel producers
Phillip Townsend Associates, Inc. (PTAI) announced it has signed an agreement with the European Confederation of Iron and Steel Industries (EUROFER) to benchmark the CO2 emissions performance of European steel producers. Since 2005, some 10 000 large industrial plants participate to a EU-wide carbon dioxide market. The so-called Emission Trading Scheme (EU ETS) enables companies which do not meet their individual CO2 caps to buy allowances from complying ones.
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September 16th  - General Brantford Ontario - So what happens now when the stimulus money is spent???
During the past 12 month the global economy has been primed by an unpresidented amount of cash in an attempt to kick start the economy. There is no question that the various stimulus packages around the world have had an effect. It would be strange if they had not, but no fundamentals have been changed. One cannot help woundering what will happen when all this cash has been spent and America and the European nations are faced with an astronomic debt, rising unemployment and a manufacturing industry that has moved off- shore. What seems to escape economic commentators in their euforia about “green sprouts of recovery� is the fact that no fundamental changes have been made.
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September 15th  - General Brussels Belgium - EU terminates the threat of tariffs on steel tubes
European Union has terminated the threat of tariffs on steel tubes from Turkey, Ukraine and Belarus after the recession prompted EU producers to withdraw a complaint alleging price undercutting. As per a report via Bloomberg , EC closed an inquiry into whether Turkish, Ukrainian and Belarusian exporters of welded tubes, pipes and hollow profiles sell them in the 27 nation EU below cost, a practice known as dumping. The goods, also called hollow section, are used by the construction industry as well as in ships, cranes, trucks, farm equipment, metal furniture, windows and toys. EU producers include the UK's Corus Group, Italy's Marcegaglia and Spain's Condesa Fabril.
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September 12th  - General Washington D.C. - CITAC urges Foreign Trade Zones (FTZ) Board to consider impact on all Americans in Alabama FTZ application
The Consuming Industries Trade Action Coalition (CITAC) urged the U.S. Foreign-Trade Zones Board today to "consider America`s steel using industries and their six million workers" in its review of an application by ThyssenKrupp to conduct manufacturing activity in a U.S. Foreign Trade Zone located in Alabama.
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September 12th  - General Washington D.C. - Obama administration bows to public pressure slaps on duties on $2.6 bln China steel pipe.
The U.S. Commerce Department said on Wednesday it had imposed preliminary duties ranging from 10.90 percent to 30.69 percent on $2.6 billion of steel pipe from China used to transport oil.The case is one of the biggest to move through the U.S. trade litigation system in recent years, and reflects concern in the U.S. manufacturing sector that Chinese industrial subsidies have cost jobs in the United States. The decision in the case brought by the United Steelworkers union, U.S. Steel, Maverick Tube Corp, and other manufacturers comes as President Barack Obama faces a Sept. 17 deadline to decide whether to curb tire imports from China.(see also news item below)
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September 12th  - General Washington D.C. - US Department of commerce finds subsidization for Chinese OCTG
On September 9th 2009, the US Department of Commerce (DOC) announced its affirmative preliminary determination in the countervailing duty investigation on imports of certain oil country tubular goods from the People’s Republic of China. Commerce preliminarily found that Chinese producers & exporters of OCTG have received net countervailable subsidies ranging from 10.90% to 30.69%. Mandatory respondents Jiangsu Changbao Steel Tube Co. Ltd, Tianjin Pipe (Group) Co, Wuxi Seamless Pipe Co Ltd and Zhejiang Jianli Enterprise Co Ltd. received preliminary subsidy rates of 24.33%, 10.90%, 24.92% and 30.69%respectively. All other Chinese producers & exporters received a preliminary subsidy rate of 21.33%.
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September 12th  - General Maputo Mozambique - Steel Tube factory inaugurated
Mozambican President Armando Guebuza on Wednesday inaugurated a factory producing steel tubes in the Beluluane Free Zone, on the outskirts of Maputo.The factory involved investment of about 50 million dollars, and it will be able to produce about 200,000 tonnes of steel tubing a year. Owned by the newly formed company Capital Star Steel, the factory covers about five hectares of land and employs around 200 workers. Since it is located in a free zone, it is exempt from tax for between five and ten years. The main shareholders in Capital Star Steel are Seven Star Steel of China and the South African group, Africa Star Steel, who each hold 40 per cent. The remaining 20 per cent is in the hands of a group of Mozambican companies, including the Mozambique-Zimbabwe Pipeline Company, the state-owned fuel distribution company Petromoc, the electricity company EDM, the Matola Gas Company and Petroline. The latter is involved in the project to build a 570 kilometre long pipeline linking the oil terminal in the Port of Matola to the South African provinces of Gauteng and Mpumalanga..
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September 11th  - General Bejing China - China, EU to discuss trade frictions
China, facing a number of anti-dumping actions from the European Union, urged the EU trade commissioner to push for bilateral trade cooperation. "China and the EU should appropriately handle trade frictions, and fight resolutely against trade protectionism," Chinese Vice Premier Wang Qishan said in his meeting with EU Trade Commissioner Catherine Ashton Wednesday, China's state-run Xinhua news agency reported.Chinese Premier Wen Jiabao, in his meeting Wednesday with visiting British Business Secretary Peter Mandelson, sought Britain's support in winning early EU recognition of China's market economy status, saying more than 70 other countries already have given their recognition.
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September 11th  - General Washington D.C. - U.S. Steel pushes Obama to choose workers over trade
During t6he presidential election campaign Barack Obama pledged to stand up for workers by cracking down on imports from China. Once elected President Obama has promised to fight protectionism and trade barriers. His administration must now decide which path to take starting from today, in two of the biggest U.S. trade cases against China. U.S. Steel Corp. and the United Steelworkers union are behind a complaint on imported pipe. The union, an Obama political ally, is also pushing for curbs on Chinese auto tires. “These are decisions that can’t be avoided, so they’ll be perceived as setting the tone for what the Obama administration trade policy is,” said Timothy Keeler, the former chief of staff for the U.S. Trade Representative’s office. Keeler, a lawyer at Mayer Brown LLP in Washington, represents GITI Tire Pte Ltd,the largest Chinese maker of tires, in the trade case. The decisions may help shape the future of U.S.-China commercial relations. The two countries traded more than $400 billion last year, making China the second-largest U.S. trading partner after Canada. China is also the largest foreign holder of U.S. debt, with $776.4 billion.
September 10th  - General Dubai UAE - UAE’s Emal smelter 60% complete|
Emirates Aluminium (Emal), planned to be the world's largest single aluminium smelter, is 60 percent completed, an Arabic language newspaper said on Wednesday, citing a company executive."Construction works are ongoing according to plan and the budget allocated by the company, pointing to more than 60 percent of the project being completed," Al-Khaleej said, quoting Yousuf Abdulla Bastaki, the project director of Emal at a conference in the UAE. Emal is a 50-50 joint venture between Dubai Aluminium Co (Dubal) and Mubadala Development Company, an investment vehicle owned by the government of the emirate of Abu Dhabi. Abu Dhabi is the capital of the seven-member federation of the United Arab Emirates.
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September 10th  - General Sao Paulo Brazil - Tenaris sees very strong demand of pipes from Petrobras
Bloomberg reported that Tenaris SA expects very strong demand from Petroleo Brasileiro SA as the company buys materials needed to tap offshore oilfields. Mr Paolo Rocca CEO of Tenaris said that Petrobras is about to award pipe supply contracts to develop its so called pre salt discoveries. The finds include Tupi. He added that "We are taking advantage of this cycle of investment in Petrobras. In 2010 we expect pipelines and drilling activity to be very strong there."
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September 9th  - General Brantford Ontario - We said it before what is the use of a service sector without an industry to service
The shift of manufacturing to low-wage parts of the world was supposed to usher in an era of well-paid service sector jobs. But as the factories have gone dark, much of the work connected to R&D has also taken flight while the number of low-paid service jobs has mushroomed. Now postindustrial economies are reconsidering the importance of their manufacturing sectors. In the wake of a recession brought on by the service sector - the purveyor of the intangible credit default swaps and mortgage-backed securities that brought the world economy to its knees last fall - developed countries are paying renewed attention to their manufacturers. They are expressing their new-found appreciation with more than just simple auto bailouts or protectionism. Many policy makers believe future growth once again lies in making things.
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September 7th  - General Brantford Ontario - There will be no News Bulletin today Canada’s Labor Day
News resumes tomorrow Tuesday September 8
September 3rd  - General Duesseldorf Germany - ArcelorMittal may now consider sale of stainless unit
ArcelorMittal is now reviewing all options for its stainless steel operations, and the sector as a whole would benefit from consolidation in Europe, a senior executive at the world's biggest steelmaker said. Jean-Yves Gilet, the chief executive of the firm's stainless steel activities, told Reuters on Monday on the sidelines of an industry gathering: "We are now looking at all options. "I think consolidation will be good because in any market it is good to have a clear leader." As we have earlier reported ArcelorMittal's chief financial officer said in July the company was studying options for its stainless steel business, including an acquisition or joint venture but not the sale of the assets. Asked by reporters whether ArcelorMittal's options now included a sale, Gilet said: "So far there is no possibility to speculate on any solution." Considering other markets such as raw materials, "everybody knows that in terms of profitability, in terms of stability, consolidation is a good thing," he said. "It would be good also if it could happen in stainless."
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September 2nd  - General Brantford Ontario - Do not get over excited about prospects of a China business boom.
Stock peddlers around the world and analysts at the Wall street gambling casino in particular give glowing reports today about the growth prospects in China India and Brazil. There is no doubt that the Chinese government’s economic stimulus package has had its effect on the overall economy and it is also true that China’s automotive industry like India’s is booming. However for readers of this wirenews bulletin it should be evident that China suffers from a tremendous amount of over capacity and that the central government has put a stop for further investment in the steel sector. Ratan Tata chairman of india’s Tata steel told his hare holders after the company posted a 450 Million loss in the 2nd quarter that there were week signs of recovery but it was still difficult to say if this is a sustained recovery or just a plateau. And Brazilian long steel giant Gerdau’s Chairman Jorge Gerdau Johannpeter told reporters last Wednesday that Gerdau is working at less than 80% of installed capacity.
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September 2nd  - General Santiago Chile - Chilean panel sees 10-year copper price at $2.13/lb
Chile said on Monday that copper prices could average $2.13 per lb between 2010 and 2019, based on estimates from a panel of experts used to help draft next year's national budget bill. The 12 experts, which include academics and think tank analysts, based their projections on prices at the London Metal Exchange Another group of experts see potential economic growth at 4.2 percent in 2010. The expert's gross domestic product mid-term forecast is based on the trajectory of the Chilean economy under normal conditions, without taking into consideration the effects of domestic and external economic conditions. The finance ministry and the government's budget office said they had completed the experts' consultation for the two indicators, which are key for the government to estimate the public sector's spending and revenue intake outlook. The government uses the experts' forecast to calculate its own economic estimates to draft the budget bill. Those official projections are expected to be released in late September."Starting with these averages, adequately filtered through statistical methods to reflect value tendencies, the GDP is estimated to grow 4.2 percent in 2010 and up to 4.5 percent in 2014," the government said.
August 31st  - General Beijing China - China’s stimulus package may do the trick and pull the world out the economic doldrums
Trying to decode the signals from China's hulking economy these days is no easy task. There are legitimate reasons to believe that a rebound is under way – but also signs that it may be fragile and unsustainable, once such vital props as unprecedented government spending and extremely loose monetary policy disappear. Chinese worker loading steel wire rod as local demand buildsNo sector has benefited more from China's current financial might than commodities. China's aggressive purchasing has almost single-handedly driven an incredible rebound in copper prices and helped keep demand for iron ore and oil strong.
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August 31st  - General Duesseldorf Germany - Steelmakers resume output as global demand recovers
Steelmakers are resuming production at mills from China to Russia Europe and the U.S. as the industry pulls out of its worst slump since World War II. OAO Novolipetsk Steel, Russia’s largest producer, raised its 2009 output forecast today, and Voestalpine AG, the biggest in Austria, ended shortened working hours and restarted a blast furnace. China Oriental Group Co., which counts ArcelorMittal as its second-largest shareholder, said the local steel industry had recovered more quickly than previously expected.
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August 31st  - General Granite City Missouri - Steelworkers get back to work
As the weeks turned to months with no end in sight to the layoff that began in December, Vince Hogue admits to wondering if he and his co-workers would ever set foot in the Granite City Works again. Then, in early summer, came word of U.S. Steel's plan to fire up the plant's massive furnaces. On July 7, Hogue — sent to the unemployment office along with thousands of others by the downturn in the economy and steel industry — was back on the job. "It's dirty and it's dangerous, but it pays well," said Hogue, a switchman on the standard gauge production line. "Now, it just needs to last." Without being specific, Dan Simmons, president of United Steelworkers Local 1899, representing the majority of the nearly 2,000 workers employed at the Granite City Works, is cautiously optimistic it will.
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August 27th  - General Jackson Mississippi - Probe of northeast Mississippi plant explosion begins
Federal investigators are gathering information one day after an explosion killed an Alabama man and injured three others at copper tubing plant in northeast Mississippi. Itawamba County Coroner Steven McNeece says 29-year-old Phillip Cason Hosch, of Sulligent, Ala., died in the blast around 4 p.m. Wednesday at Mueller Copper Tube in Fulton. Memphis, Tenn.-based Mueller Industries confirmed three people were injured, but did not release any details on their conditions. A spokesman for the Occupational Safety and Health Administration says the agency has sent officials to investigate.The plant was evacuated following the explosion and the fire was extinguished about an hour later.
August 26th  - General Paris France - Nexans secures major frame agreement with BP Exploration and Production Inc. for deep water umbilical projects in the Gulf of Mexico
Nexans, a worldwide leader in the cable industry, has secured a frame agreement with BP Exploration & Production Inc. for deep water umbilical projects in the Gulf of Mexico that could be worth as much as $300 million in total. The frame agreement is initially for one year; however, BP has the right to extend the agreement for an additional four year period. The agreement covers the design, manufacture and supply of bespoke umbilicals that will carry fluid, power, control and telecommunications services for new subsea oil and gas projects or replacements in water depths up to 1,980 metres. During the term of the agreement, Nexans could deliver more than 200 kilometres of umbilical products to BP.
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August 25th  - General Istanbul Turkey - Turkey's pipe market softens
As Turkey’s domestic demand for pipes was weak, Turkey’s pipe price for domestic market kept decreasing. It is reported that Tosyali raised its discount for cold rolled and hot rolled products by 27 percent and 30 percent respectively. Meanwhile, scrap price is increasing. Turkey’s exporters were trying to promote the steel rebar export to Middle East. The steel rebar price for September shipment is around US$500/ton.
August 25th  - General Toronto Ontario - Chinese pig farmers drives the copper market.
Forget the sluggish U.S. economy. The biggest threat to the stunning rebound in base metal prices could come from Chinese pig farmers.Easy access to credit from Chinese banks has apparently inspired hog producers in Guangzhou province, investing-astute citizens in Zhejiang province and residents of the northern scrap metal trading hub of Anxin county to speculate on the price of copper and nickel.Regular Chinese citizens are mimicking the government's decision to aggressively stockpile metal supplies amid the global economic crisis. According to a recent report by China Central Television (CCTV), residents in rural areas have been accumulating physical copper in recent months, in quantities ranging from a few tonnes to a few hundred tonnes.
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August 22nd  - General Beijing China - China's Government to stop steel expansion projects for three years
China's Ministry of Industry and Information Technology (MIIT) said on Thursday that steelmakers will stop expansion projects in three years to eliminate overcapacity. China’s steelmakers have the production capacity 660 million tons of steel a year, which is much more than 470 million tons of annual consumption. Besides, the ministry will continue efforts in industry consolidation and eliminate lagged productivities.
August 19th  - General London U.K. - Speculators about to get burnt as copper bubble about to burst.
Copper rose to a fresh 10-1/2 month high on Friday before reversing gains, as U.S. consumer price data offset fragile expectations of improving demand. At 1414 GMT, copper for three-months delivery on the London Metal Exchange traded at $6,298.50 a tonne from a close of $6,395 on Thursday. Earlier, prices of the metal used in power and construction hit $6,480, the highest since early October.
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August 17th  - General Cleveland Ohio - ArcelorMittal will bring 165 people back to work this week
ArcelorMittal will bring 165 people back to work this week, but it will still be more than a month before the Cleveland steel plant's blast furnace fires up and starts melting metal again The Cleveland Plain Dealer said Friday. Plant manager Terry Fedor told the paper Wednesday that the company is still negotiating with the United Steelworkers of America Local 979 to figure out how many workers it needs to bring back. In May, the company put 912 workers on layoff as steel orders plunged 45 percent worldwide.
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August 15th  - General Wilmington, Delaware - Bankrupt RathGibson wins court approval of $80 million loan
RathGibson Inc., the steel-tube maker controlled by DLJ Merchant Banking Partners, won permission from U.S. Bankruptcy Judge Christopher Sontchi in Wilmington, Delaware, to borrow as much as $80 million to help fund operations as it restructures. Sontchi granted final approval of the loan at a hearing yesterday. The loan will be provided by affiliates of Wayzata Investment Partners LLC, Eaton Vance Corp. and BlackRock Inc. The loan is necessary to fund operations and will give customers, vendors and employees "confidence necessary to continue operating," RathGibson said.
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August 12th  - General Brantford Ontario - Global steel pipe market continues to be buoyant
In reaction to the increasing consumption related to the global natural gas and oil industries, the demand for the gas and oil usage pipes have also remained strong in the global steel market.
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August 12th  - General Beijing China - Hengyang Valin starts large diameter pipe production
SteelGuru reports that Hengyang Valin Steel Tube Co Ltd has sent first batch of large caliber steel pipe to Xiangtan based MCC indicating its 720 Plant large caliber pipe has successfully entered into the global market. According to the report, the 32 tonnes of construction steel pipes with the spec of 408×34×501, mainly used in Xiangtan Steel 5 million medium plate projects, is the first batch production order since 720 entered into production. At present, the steel plant has produced 360 tonnes.
August 10th  - General Brantford Ontario - Recent trends in the global pipe market
The business of steel pipe is closely linked to construction industries and infrastructure projects. When the economy booms, the demand for pipe strengthens; but if the economy weakens, pipe supply may exceed demand.
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August 10th  - General Brussels Belgium - EU should resist protectionism temptation China says
Xinhua the official China news agency carried an article on August 4th that said :” Faced with the worst economic crisis in decades, the European Union (EU) is losing ground to the growing temptation of protectionism. China, one of its major trading partners, is the main target. Last week saw a new wave of EU anti-dumping measures against China. In two days, the 27-nation bloc made two separate decisions to impose definitive anti-dumping duties on Chinese steel wire rods and seamless pipes. These measures are just part of a greater EU trade war against Chinese steel and iron products, which was launched two years ago.
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August 10th  - General Beijing China - U.S. government should seriously re-consider tire protectionism
China's Ministry of Commerce said last Monday it hoped the U.S. government would listen to its own industries and not impose protective measures on tires. The comment came after the U.S. International Trade Commission (ITC) issued a statement on June 29 recommending falling tariffs of 55 percent, 45 percent and 35 percent over the next three years on motor vehicle and light truck tires from China. The U.S. Tire Industry Association, the American Coalition for Free Trade in Tires, the American Automotive Trade Policy Council, and the Retail Industry Leaders Association have all expressed strong opposition to the planned moves. The commission's protectionism ploy lacked legitimacy and objective foundation, and China strongly opposed the U.S. government's implementation of discriminatory measures against tires from China, the ministry said. U.S. President Barack Obama will make a final decision on the issue before September 17, following an August 7 hearing. Imposing protectionist measures against Chinese tires would not only harm the interests of China's tire industry and Sino-U.S. bilateral trade, but also jeopardize the overall interests of U.S. economy, the ministry said.
August 7th  - General Port Kembla Australia - MM Kembla to slash 25 jobs
As many as 25 people will be made redundant from Port Kembla copper manufacturer MM Kembla, because of reduced orders blamed on the global financial crisis. And, in a double whammy for its remaining employees, broken machinery in the company's tube division has led to more than 100 workers being stood down without pay for at least a week. MM Kembla chief executive Colin Lamond told the Mercury the final number of redundancies - which he said included a combination of voluntary and forced lay-offs - would total between 20 and 25. Mr Lamond said the company employed 420 people, including 330 at Port Kembla. "It's a reflection of tough economic conditions ... not different to what you are hearing or seeing elsewhere," he said. The Mercury understands employees were told of the restructure plans on Monday last week and most of those affected by the redundancies have already ceased working. Australian Workers' Union organiser Dave Hancock said more than 100 employees in the tube division had yesterday been stood down after the billet caster furnace broke down, meaning there was no work for them.
August 7th  - General Brantford Ontario - Ball bearing makers report poor H1 results
Ball bearing suppliers an excellent gauge to market conditions all reports poor H1 results. Timken reported a second-quarter loss of $64.5 million, compared to a year-earlier profit of $88.9 million. Sales at Timken plunged 46%, to 828.9 million from $1.54 billlion. Timken said the decline in sales was due to weaker demand across most of the company's end markets and lower steel surcharges, which were partially offset by improved pricing. “The combination of a slow economy and inventory reduction throughout the supply chains we serve continues to curb demand for our products,” Timken president and CEO James Griffith said in a statement. Tom Johnstone, President and CEO of SKF the decline in demand was dramatic compared to last year, the sequential trend for the Group shows signs of levelling off. The manufacturing level was even lower than sales resulting in a further reduction in our inventories. We expect that the year on year decline in our sales volume in the third quarter will be slightly less than what we have seen in the first half. The manufacturing level will continue to run lower than sales." Johnstone,
August 5th  - General Fulton, Mississippi - Mueller copper tubing plant to reopen after explosion
Mueller copper tubing plant, closed since its fatal explosion earlier this week is expected to resume production Monday. The explosion Wednesday killed 29-year-old Phillip Cason Hosch of Sulligent, Alabama, which is about 30 miles from the Fulton, Mississippi plant. The Occupational Safety and Health Administration is investigating the explosion but says it's not sure how long it will take to learn what caused the explosion. Hosch's death is the third at the plant since April 2008.
August 3rd  - General Brantford Ontario - August 3 A Canadian Statutory Holiday
There will be no Tubenews Bulletin Today
July 31st  - General Fulton Mississippi - 1 dead, several hurt at Mueller copper tubing plant explosion
One person was killed and others injured in an explosion Wednesday at a copper tubing plant in northeast Mississippi, emergency officials said. Itawamba County Coroner Steven McNeece says Phillip Cason Hosch, 29, of Sulligent, Ala., died in the blast that happened about 4 p.m. at Mueller Copper Tube in Fulton. McNeese did not have other details. Itawamba County Sheriff Chris Dickinson told WTVA-TV in nearby Tupelo that a medical helicopter and ambulances were sent. It's unclear how many were hurt, though some were sent to a nearby hospital, McNeece said. An official with Mueller Industries said the company is still assessing the damage. Authorities were unsure how the explosion happened. The Itawamba County Sheriff's Department and the Greater Fulton Fire Department did not immediately provide any other details to The Associated Press late Wednesday. Officials said a Hazmat team decontaminated people who had chemicals on them. McNeece said an autopsy on Hosch was planned for Thursday in Jackson. Sulligent, Ala., is about 30 miles from Fulton.
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July 30th  - General Brantford Ontario - How long can western economies afford to subsidize jobs?
The unavoidable long term effect of globalization and free trade is of course the equalization of living standards. The positive effect is that the living standard and working conditions will improve in the poorer nations as the multinationals start competing for their cheap unregulated labor pools. A micro cosmos of things to come is the current situation in China where it is becoming increasingly difficult to retain labor and management personnel in particular. In the quest of gaining a competitive edge through lower labor costs, manufacturing units are now being moved from China and Indonesia to Vietnam. Meanwhile western politicians fearing the wrath of voters are fighting a loosing battle to retain jobs. The automotive market is a good example. In North America and Western Europe the markets are saturated and the market for new vehicles is the gradual replacement of existing cars as they wear out, while the emerging markets have an almost unlimited number of first time car buyers that are restricted only by affordability. Tata motors has recently introduced a car priced around $ 2000.00 that targets first time car buyers and it is reasonable to expect it will be a venture which success rivals that of the Model T Ford, the VW beetle, the Morris 1000 and the Fiat 500. Of course, while governments shall provide opportunities for its citizens to make a living, governments do not owe the people a living. Present swelling welfare rolls must be trimmed and people getting productively employed again – but is industrial welfare the way to go? Comments are invited editor@wireworld.com
July 30th  - General Brussels Belgium - EU Imposes tariffs on imports of steel pipes from China
European Union trade officials approved pre-emptive penalties on imports of steel pipe from China, a precedent-setting move that suggests the trading bloc is growing more protectionist in the face of the economic downturn. Tuesday's vote by trade officials from the EU's 27 member states is significant, say trade experts, because they accepted an argument from steel producers -- including the world's largest by volume, ArcelorMittal -- that punitive tariffs are needed to protect them from the threat of underpriced imports from China. Seamless steel pipes are major parts in housing construction, gas and oil plants and the automotive industry. The vote was close, according to EU officials familiar with the matter, although they declined to reveal the final tally.
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July 29th  - General London U.K. - As copper price rises, rumors abound of market manipulators
While the global recession has hit most commodities hard, the red metal has defied gravity and last week hit highs for 2009. Copper contracts for delivery in three months' time closed at $5,522 on Friday, 76 percent ahead of the low on Christmas Eve last year remain almost 40pc below the record $8,930 a tonne reached in July 2008..There are vast volumes being bought in the markets, that got all the hallmarks of someone trying to corner the market like in 1996 when Sumitomo Bank’s Yasuo Hamanaka alias "Mr. Copper" bought 5 percent of the copper market. If anyone attempted to short copper Yasuo Hamanaka would simply use Sumitomo's deeper pockets to pour more cash into his positions, thereby sustaining the price and outlasting the shorts. In doing so, however, he accumulated losses of $1.8bn (£1.1bn). When the game was discovered, the copper price plunged. Sumitomo's total losses were reckoned at $2.6bn.
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July 28th  - General Beijing China - Rioting steel workers kill General Manager
Some 30,000 Chinese steelworkers clashed with police in a protest over plans to merge their mill with another company and beat the company's general manager to death, a human rights monitor said Saturday. Several hundred people were injured in the clash Friday in the northeastern city of Tonghua, the Hong Kong-based Information Center for Human Rights and Democracy said in a faxed statement. Employees of Tonghua Iron and Steel Group object to plans for Jianlong Steel take control of the company, the center said. It said Beijing-based Jianlong controlled the company temporarily last year, and employees blame Jianlong for financial problems suffered at the time.
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July 28th  - General Magnitogorsk Ural Russia - Putin pledges steps to support steel sector
Prime Minister Vladimir Putin pledged on Friday to help Russia's steel sector by stimulating demand for metal and taking steps to offset protectionism in other countries, "Our domestic output is being discriminated against, in reality we see such policies widening in certain countries," Putin told a meeting with top Russian steel barons. As the prime minister and Industries Minister Viktor Khristenko gave proposals to support the crisis-hit sector, analysts said more concrete measures were necessary. Steel makers in Russia, the world's fourth-largest producer, have suffered from a decline in orders from the construction and automotive sectors as the global economic slowdown cuts demand. In response they have boosted exports, though this has led to a growing threat of tariffs and other anti-dumping measures against Russian steel by Chinese and other buyers.
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July 25th  - General Brantford Ontario -
The recession is over says Bank of Canada chief Bank of Canada Governor Mark Carney's must have read wire & cable news bulletin yesterday. In his opening statement at his news conference on Thursday following the issue of the quarterly Monetary Policy Report (MPR) the Governor said:” The Bank has long expected that economic growth in Canada would resume in the second half of this year and pick up in 2010. Indeed, growth in Canada should resume this quarter. The dynamics of the recovery projected in today's MPR are broadly consistent with the Bank's medium-term outlook in April. Stimulative monetary and fiscal policies, improved financial conditions, firmer commodity prices, and a rebound in business and consumer confidence are spurring domestic demand growth.
July 25th  - General Welland Ontario - 100 years of making steel
Lakeside Steel Corp. is preparing to celebrate 100 years of continuous steel making in Welland. Although Lakeside Steel Corp. has only been in existence since Nov. 1, 2005, the facility now owned and operated by Lakeside has been in continuous operation for a century. Randy Sockovie, director of sales and marketing for Lakeside, said the company began as Page-Hersey Iron Tube and Lead Co. in 1909. Lakeside has chosen Wednesday, Sept. 16, to mark the 100-year milestone. "There are plans in the making for a reception and open house complete with speeches from local dignitaries as well as present and former employees," Sockovie said. The company has been making plans since March to mark the occasion. A plaque dedication, displays of historical pictures and memorabilia will also be part of the 100-year birthday celebration. The company is appealing to those who have Page-Hersey memorabilia they can loan out for the open house.
July 22nd  - General Brantford Ontario - Can a society thrive by the citizens washing shirts for each other?
The answer is short term yes provided they import all other necessities and the suppliers are prepared to extend credit - long term the answer is of course no unless the citizens also take in washing from other societies. This simplification of today’s western societies (USA and the EU in particular) amplifies that GDP is a very crude and directly misleading measurement of economic growth and prosperity. Especially GDP growth in the financial sector as well as GDP growth in certain segments of the service sectors such as retail Can an economy devoid of manufacturing survive? America and Europe has over the past 50 years seen a gradual demise of an once mighty manufacturing industry, such as shipyards, as well as an evolution of a computer software industry but even here in the creative intellectual knowledge industry is a migration of jobs.
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July 21st  - General Moscow Russia - TMK H1 steel pipe shipments down 20 pct y/y
TMK, Russia's largest producer of steel pipes for the oil and gas sector, said on Thursday first-half 2009 shipments fell 20 percent year-on-year due to weak market demand. TMK shipped 1.2 million tonnes of pipes in the first six months of 2009, including 765,000 tonnes of seamless pipes and 437,000 tonnes of welded pipes, the company said in a statement. "The company estimates that the Russian pipe market declined by 34.8 percent in the first half of 2009 as compared to the first half of 2008," TMK said in the statement. Shipments in the second quarter, however, rose seven percent compared to the first three months of 2009 as a result of new capacity and orders for the company's large-diameter pipe. TMK said it expects further growth in demand for these pipes in the second half of the year, especially from Gazprom's Sakhalin-Khabarovsk-Vladivostok gas pipeline in the Russian Far East, and the BTS-2 oil pipeline being built by Transneft to bypass Belarus en route to the Baltic. "Demand growth is also expected in the CIS as state-owned oil and gas companies in Uzbekistan, Turkmenistan and Kazakhstan invest in the development of oil and gas fields and related infrastructure," TMK said.
July 20th  - General Ottawa Ontario - No Bull - Canada takes US Steel to court over Stelco job cuts
The Canadian government took US Steel Corp to court on Friday, accusing it of breaking commitments to maintain production at Stelco Inc, made when US Steel took over Hamilton, Ontario-based Stelco in 2007. Tony Clement, industry minister, said in a statement on Friday that as part of the agreement to grant regulatory approval for the $1.1bn takeover, US Steel “committed to a series of undertakings regarding, among others, capital expenditures, research and development, and production” (See also wirenews Maj 11 Governments putting screws to companies that don't meet commitments ) As earlier reported also: The steelmaker shut down most of its Canadian operations in southern Ontario, eliminating 1,500 jobs, although some production has since returned.
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July 20th  - General Algiers Algeria - Turkish Exports to the Arab world Exceeds 6 million tons in the First half.
Imports of the Arab countries of the Turkish iron and steel products were 6.088 million tons during the first half of 2009, up by 10.84% compared to the same period of the last year at which exports reach 5.493 tons. The finished (long and flat) products were at the top of imports. They reached 5.263 tons, constituting 86.46% of the total imports, which is an increase of 21% compared to the first half of 2008. Imports of the long products (rebar, wire rod and sections) were 98.54% of the total imports of finished products. Imports of rebars saw an increase of 15.7% during the first half of this year compared to the same period of 2008, the total of which was 4.56 million tons. Imports of sections saw an increase of 34%. They reached 388.8 thousand tons. Imports of wirerod were 238.4 thousand tons, up by 198%. Imports of pipes gained the biggest increase which was 213%. The total imports were 404.3.
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July 18th  - General Stockholm Sweden - Sandvik reports massive loss in 2nd Q amid falling sales CEO sees no pick-up in near future.|
Sandvik reported a loss of 2 Billion SEK which was better than analysts expected. Last year the company reported a profit of 2.4 Billion. Lars Petterson Sandviks VD gave a very candid forecast saying that he sees no light at the end of the tunnel. A bright spot are the tube division that has seen strong sales of boiler tubes. Kanthal (resistance wire) and the stainless wire division will be amalgamated.
July 17th  - General Washington D.C. - US. Producers of commercial OEM tube express concern with imports from China
The major producers of commercial OEM tube in the United States today noted that imports of this copper product from China have been entering the United States in large volumes that appear to reflect dumping as well as Chinese governmental subsidization. U.S. producers manufacture commercial OEM tube for use in the OEM air conditioning market in the United States. Counsel to the domestic producers, David A. Hartquist of Kelly Drye & Warren LLP, stated, "We have been gathering information about the imports from China, and our analysis indicates that this tube is being unfairly priced as the result of dumping and countervailable subsidization. These practices are unlawful under U.S. law and the agreements of the World Trade Organization when injury to the U.S. domestic industry results."
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July 17th  - General Milan Italy - KME units take appeal over EU fine to higher court
KME Group said its French, German and Italian units have appealed against a court decision to uphold a 40 million euro ($56.2 million) fine imposed in 2003 by the European Commission for price fixing on the copper tube market.The Court of First Instance, Europe's second-highest court, rejected their appeal against the fine in May. KME Germany AG, KME France SAS and KME Italy S.p.A. have now lodged an appeal with the European Court of Justice against that decision, copper products maker KME said in a statement. In 2003, European Union competition regulators fined KME, Germany's Wieland Werke and Finland's Outokumpu a total of 79 million euros for fixing the prices of copper tubing used in air conditioners and refrigerators.
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July 16th  - General Sheffield U.K. - Pipe company enjoys boost
In the past months Craig McKay has become "a lot more positive" about the outlook for his business, writes Financial Times Peter Marsh .A general manager at Evenort, a Sheffield-based company that makes specialist pipe connectors for industrial installations, Mr McKay says business conditions had been "really gloomy" in the three months prior to March, with orders well down on a year earlier."But then we had a sudden lift in orders. It was as though customers got fed up with putting projects on hold and suddenly decided in a collective sense to say 'let's go for it'." Evenort employs 32 people and had sales in the 2008-09 financial year of about £4.2m, with 10 per cent exported. "We've had such a sudden rush of orders that I can honestly say we're having difficulties dealing with all of them," says Mr McKay. He is hoping Evenort's sales this year will be around last year's level or possibly slightly higher.
July 15th  - General Lincolnshire, Illinois - RathGibson seeks chapter 11 protection from creditors
RathGibson Inc., which makes steel tubes and pipes for a variety of industries, sought Chapter 11 protection on Monday with a plan in place to reduce its debt and repay unsecured creditors in full. The Lincolnshire, Ill., company says its management, prepetition secured lender and some key noteholders were on board with the reorganization efforts, which involve swapping $200 million in senior notes for equity in the new business. RathGibson listed assets of $305 million and debts of $219.2 million in its petition. Chief Financial Officer Jon M. Smith said the company had been working to engineer a restructuring plan in the face of decreasing demand for its products and revenue shortfalls, which he attributed to macroeconomic conditions.
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July 14th  - General Shanghai China - Is the steel market rise a bubble or a return to business?
Despite the recent strength seen, there are good reasons to expect the steel market to weaken again towards the end of the year. The current conditions globally could just be a bubble arising out of strong restocking drive at the user end and the popular speculation that prices have potential to rise continuously. In most parts of the world, the steel industries believe that they are fully back in business. The sharp rise in the prices of HR coils in particular reflects the strength also in the market for other downstream products such as CR coils and coated products. Everything cannot be merely written off as coming from restocking, although the pace at which restocking was resorted to is an issue. In China, HR coils demand is strong, especially from the tube making segment. There has been a slight improvement in plates as also in long products of most categories. However, the situation in respect of long products has varied from country to country. In India, prices are on the downhill in the recent days, understandably, due to seasonal monsoon fall of construction activities in most part of the country. In China, the demand and production of rebars have improved, while those for wire rods and other bars and rods for engineering applications have fallen. But, the government's stimulus measures and investment in railway construction have led to a huge jump in demand for rails. Even the demand for sections is on the rise.
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July 13th  - General Brantford Ontario - A slight oversight in the US automotive bailout.
Hundreds of suppliers of all sizes manufacture bolts, axles, transmissions and other parts for assembly in car plants. Suppliers have been hurt by the dramatic downturn in auto sales and some analysts are now concerned the supply chain is about to collapse. About 20 suppliers have filed for bankruptcy this year. Lear Corp.a supplier of seats filed for bankruptcy on Tuesday others including Visteon Corp., Ford Motor Co.'s largest supplier, and Metaldyne Corp. a leading global designer and supplier of metal-formed components and assemblies for engine, transmission, and chassis applications Auto parts supplier American Axle & Manufacturing Holdings Inc. is seeking a court order to get one of its steel suppliers to resume deliveries, saying that cutting off supplies threatens the entire auto supply chain. But these are mainly the tier 2 and 3 suppliers. Suppliers of springs, wire forms, cables etc are understandably hesitant to ship products they do not know when or even if they are ever going to be paid for.
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July 13th  - General Shanghai China - Baosteel increases large dia pipe production in June
Baosteel Daily reported that Baosteel Steel Tube Plant has eyed an output growth on large-caliber welded steel pipe since this year. In June, its reported output climbed to 41,700 tonne recording the best level since it been slated into production and the composite finished products rate also turned better five months in a row. The monthly output has arrived at 35,000 tonnes in March this year, also refreshing a new daily production record in the history. Source SteelGuru.
July 11th  - General Beaver Pennsylvania - 90 PTC Alliance workers to remain on indefinite layoff
Timesonline.com reports that nearly 90 workers laid off earlier this year at PTC Alliance steel tubing plants in West Mayfield and Darlington Township will remain off the job indefinitely, according to the Pennsylvania Department of Labor and Industry. The company filed a federally mandated notice this month with the bargaining unit, state officials and local elected officials that the 73 workers at the West Mayfield plant and 13 employees at the Darlington Township plant who were laid off over the past several months would remain out of work because of a severe drop in the number of tubing orders.
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July 11th  - General Charleston South Carolina - Plant to expand, creating 30 jobs thanks to anti dumping action against Chinese imports
Thanks to the missteps of Chinese manufacturers, a Berkeley County pipe company will be able to expand its operation and create an estimated 30 jobs during the next year. Welded Tube-Berkeley, an operation that bends thin strips of steel into pipes, announced Thursday that it will begin making another type of piping at its Huger plant. The plant's roughly 30 workers now make pipes for fire sprinkler systems that are installed in commercial buildings and less commonly for handrails, fitness equipment and patio furniture.
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July 10th  - General Rome Italy - G8 meeting accomplish nothing.
The leaders of the world’s richest countries on Wednesday failed to agree a concerted strategy to boost the global economy, in the face of diverging views on the state of the recovery and what to do next. Angela Merkel, German chancellor, wanted the G8 summit to focus on an “exit strategy” to plot an unwinding of a massive fiscal and monetary stimulus, a sign of her concerns about rising borrowing and future inflation. Leaders of the world’s 16 biggest polluters on Thursday were on the brink of failing to agree targets to cut greenhouse gases, jeopardizing the outcome of the Copenhagen climate summit set for December. “The G8 missed a unique opportunity on climate change,” Ban Ki-moon, UN secretary-general, said as the talks stuttered to a halt.
July 10th  - General Geneva, Switzerland - New website database offers comprehensive tariff information
Comprehensive information on customs duties became available to WTO website users on 9 July 2009 through a new database, the WTO Tariff Download Facility. Users can now search for members’ customs duty rates, as actually charged as well as legally bound maximums, and in many cases imports, down to a high level of detail. To access use this link
July 10th  - General Moscow Russia - VTB to grant $450 million load to Russia’s steel pipe maker TMK
Russia’s VTB Group plans to grant a 450-million-dollar loan to the country’s leading steel pipe manufacturer TMK as a part of the state program aimed at the assistance to the Russian industry, the Prime Tass economic news agency said on Thursday, quoting a report of the banking group. According to the report, the loan will be granted for a 12-month period with an annual extension option not to exceed five years, Prime Tass said. TMK is the largest pipe producer in Russia and the second largest in the world. The company was founded in 2001. It controls more than 42 percent of the Russian pipe market and 13 percent of the global pipe market, Prime Tass cited the company’s report.
July 9th  - General Shanghai China - Valin Steel roll out larger caliber steel pipe
SteelGuru reports that Hengyang Valin Steel Tube Co Ltd has lately rolled out the large-caliber seamless steel pipe with the diameter of 446mm after 11 months’ construction. That is to say, the largest-caliber seamless steel pipe has come out off the 720 production line in the steel mill. As per report, 720 seamless steel pipe units, the provincial key project, with the total investment of CNY 1 billion mainly produces construction structure, power station, oil casing seamless steel pipes etc.The unit may achieve 0.2 million tonnes per year of production capacity after it completes. As predicted, the company will produce 35,000 tonnes of steel pipes this year with the considerable profits.
July 9th  - General Shanghai China - Valin Hengsteel supplying pipes for CNPC system
SteelGuru reports that Hengyang Valin Steel Tube has succeeded in signing 650 tonnes of GB 6479-2000 steel pipes with Yumen Oil Field China National Petroleum Corporation which indicates that Valin Hengsteel has flooded all the oil fields under the CNPC system by right of its products. Yumen Oil Field, located in North Qilian Mountain, Gansu province is the first oil field in China. Along with the increasing demands of steel pipes in recent years, Valin Hengsteel has developed a series of new types like P110, L80, N80 and Q125 etc. Since 2009, Valin Hengsteel has extended cooperation with CNPC. At present despite signed with Yumen Oil Field, Valin Hengsteel’s first batch of 244.5*8.94N80LC casing oil pipe has passed the observing, meaning that Valin Hnegsteel successfully marches into Southwest China market.
July 8th  - General Beijing China - Negotiating Chinese style
Four employees of Rio Tinto, the Anglo-Australian mining group, have been detained in China without explanation, raising tensions as the company is locked in tough negotiations over iron ore prices. Along with other international mining groups, Rio is in the middle of talks over iron ore contracts for 2009-10, which have still not yet been resolved even though many contracts expired last week. The miner has also been heavily criticised in China following its withdrawal from a planned $19.5bn investment by Chinalco the state-owned aluminum company. The Sydney Morning Herald reported that an Australian passport holder, Stern Hu, was among those detained and that Canberra was demanding consular access. The other three employees were reported to be Chinese passport holders.
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July 8th  - General Beijing China - China defends it’s discriminating M&A policy towards foreign investors
China said on Saturday its policy toward foreign acquisitions of domestic firms was fair, explaining that broader national concerns take precedence over the potential benefits to any single company. The comments come as protectionist tendencies around the world are rising with Beijing at the centre of anti-dumping accusations from firms in the West that view Chinese competition as unfair. "We want to actively encourage mergers and acquisitions," Jiang Yaoping, a deputy economic minister, told a conference. "But not to maximize the benefits of one particular company," he said. "The concerns of the wider public and the country are more important."
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July 7th  - General Hamburg Germany - Aurubis CEO says copper product demand recovers
Aurubis, Europe's largest copper producer, is experiencing better demand for some semi-finished copper products, its CEO told Reuters on Monday. "We reached the bottom point (in product demand) in March and in April had a slightly better capacity usage and a further improvement since May and June," said Bernd Drouven, CEO of the company, previously called Norddeutsche Affinerie. Main demand improvement was in cast wire rod products. "We notified short time working for our cast wire rod products plant in Hamburg in May but we have not required this short time working," he said. "This shows that we had reckoned with it but that the order intake has been better," he said on the sidelines of a metal industry event in Hamburg.
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July 7th  - General Washington D.C. - AISI says climate bill as passed by house puts U.S. steel industry at a competitive disadvantage
The American Iron and Steel Institute (AISI) expressed its disappointment today over the House passage of the American Clean Energy and Security Act of 2009.“We believe this bill has moved at a rushed pace that has not allowed for full debate of provisions that are critical to the steel industry, which was clearly underscored by the fact that the bill passed in the House by only seven votes,” said Thomas J. Gibson, AISI president and CEO. “The bill, as passed, will need important modifications as it moves through the Senate. “We appreciate the hard work of Congressmen Mike Doyle (D-PA) and Jay Inslee (D-WA) and we look forward to continuing our work with them as this legislation moves through the process,” said Gibson. “However, we can say, with certainty, that if this bill is enacted as it presently stands, U.S. steelmakers and our workers will be at a significant competitive disadvantage in the global marketplace. Several modifications must be made to achieve the bill’s stated purpose of avoiding job loss and emission migration to overseas markets.” Editors comment; It should be added that separately there is a plan in motion to impose an importation carbon tax to be levied at foreign producers that do not comply or meet similar environmental standards as the bill now passed by congress.
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July 6th  - General Brantford Ontario - Growing signs of protectionism as globe trade shrink for the first time in 15 years
India’s steel industry seeks hike in import duty on certain steel products from 5% to 15% so as to keep a check on dumping from countries like China and Ukraine. The industry is also hopeful of a hike in export tax on iron ore. At present, there is no export duty on iron ore fines while shipments of iron ore lumps carry a levy of 5%. The US Department of Commerce in the past 10 days has opened three anti-dumping and countervailing investigations into imports of Chinese steel products in 10 days have sparked concerns of rising US protectionism against China. The US Department of Commerce on June 26 opened a probe into whether China has dumped or subsidized wire decking sold in the US market, following the launch of similar investigations into wire strand and steel grating on June 17 and 19. China’s Ministry of Commerce posted a strongly worded statement on its website on Monday rejecting the decision and expressed its concerns on the protectionism trend.
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July 4th  - General -
Americans rejoice that their currency is no longer the pound sterling. Tubenews resumes July 6
July 3rd  - General Brantford Ontario - State capitalism and the economic crisis
Despite massive state interventions in economies around the world, many corporate leaders and investors act as though globalization remains the dominant paradigm. That is a mistake says political-risk consultant Ian Bremmer in an article for Mc Kinsey Quarterly. It’s been nearly three decades since Antoine van Agtmael coined the term “emerging market” to describe the waking giants of the developing world. During that time, we’ve come to think of emerging markets, including the so-called BRIC nations of Brazil, Russia, India and China, as immature states in which political factors matter at least as much as economic fundamentals for the performance of markets. As globalization came to seem more and more like a historical inevitability, the assumption among wealthy nations was that the injection of politics was a temporary stage, that these developing economies would mature (each at its own tempo) into a state of grace in which economic balances, not politics, would drive local markets.
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July 1st  - General -
Canada celebrates Canada day Tubenews resumes tomorrow
June 29th  - General Lusaka Zambia - Zambia opposition moves to block Chinese mine deal
Zambia President Rupiah Banda said on Wednesday he was willing to review copper mining taxes and he criticized the country's opposition for blocking a Chinese firm from running a big mine. The opposition has said it wants to curb China's widening influence in the country's mining sector, saying Chinese firms have a poor safety record and pay low wages to workers. Banda's government in May picked China's NFC Africa to take a majority stake in the closed Luanshya Copper Mines (LCM), which shut down in December after making losses, leading to job cuts. The Chinese firm was due to officially take over the mine on Wednesday.
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June 29th  - General Helsinki Finland - Outokumpu ups nickel capacity as order volumes recover.
Finnish stainless steel maker Outokumpu said on Thursday it would increase its production capacity on the back of stronger order intake, but cautioned underlying demand for stainless steel remained weak. "In the past weeks Outokumpu's order intake for stainless steel has increased somewhat from the earlier very low levels," the firm said in a statement. Outokumpu said it would adjust production utilization from a current 50-60 percent rate to allow for a recovery in fourth-quarter delivery volumes. "The plan is however not to return to full production capacity at this stage," it said. Outokumpu said inventories seemed to have been run down by distributors and end-users and that the increase in the nickel price had triggered some purchasing activity, but added it saw no signs of underlying demand for stainless steel picking up. The firm said delivery volumes in the third quarter would remain at depressed levels due to capacity constraints and maintenance shutdowns.
June 29th  - General Beijing China - Where to park all our cash????
China Communist Party researcher Li Lianzhong fears for the country’s huge dollar surplus. China should buy more gold because the dollar is poised for a fall and the metal is needed to support the greater international role envisaged for the yuan, Li said on Thursday. Li, who heads the economic department of the Party's policy research office, said China should use more of its $1.95 trillion in foreign exchange reserves to buy energy and natural resource assets. Speaking at a foreign exchange and gold forum, Li also said that buying land in the United States was a better option for China than buying U.S. Treasury securities.
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June 27th  - General Hamburg Germany - Norsk Hydro sees late hope for its German aluminum plant
Germany's plan to give special state aid to the metals industry could give hope to a major aluminum plant in the country threatened with closure, Hydro Aluminum, the local unit of Norwegian group Norsk Hydro, said on Wednesday. Hydro said in April it may stop production at its loss-making aluminum plant at Neuss in June because of high German electricity costs and weak demand. But plans by Germany's ruling government coalition to give extra aid of 40 million euros to help the non-ferrous metal industry overcome the impact of the economic slowdown and high German power costs could give hope to the plant, said Hydro Aluminium spokesman Michael Peter Steffen.
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June 27th  - General Conakry Guinea - RUSAL to slash Guinea alumina output
Russian metals firm RUSAL will cut alumina production at its Friguia plant in Guinea by more than 50 percent from July 1, a RUSAL executive in the West African country said on Wednesday. RUSAL is cutting metals output across its operations as it attempts to restructure $7.3 billion in foreign loans, while metals prices are around half of their year-ago levels and demand is not expected to rise dramatically in the near future" The management has taken the decision...to reduce the factory's production which is currently around 52,000 tonnes of alumina per month to 20,000 tonnes," the source said, speaking on condition of anonymity. RUSAL, which employs around 1,200 people at Friguia, intends to continue paying full salaries and does not plan to cut jobs, he said. The firm's Moscow headquarters could not be immediately contacted for comment.
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June 27th  - General Hengyang. Hunan. China - Valin Hengsteel exports 40,000 tonnes steel products in 3 months
China Metallurgical News has reported that till the close of June this year, Hengyang Valin Steel Tube Co Ltd has exported more than 40,000 tonnes of steel products in consecutive three months and the accumulated exportation volume in the first half year comes at 213,854 tonnes basically leveling off with the annual export plan. As per report, Valin Hengsteel has almost lost its North American and European market shares which occupied for nearly 40% before resulted from the oversupplies and trading protectionism etc since the end of 2008. So, the steel mill planed to shift its attention on South America, India, Middle East and some CIS countries and areas at year start.
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June 26th  - General Brantford Ontario - Just too much steel capacity everywhere
The steel industry is at or close to a bottom amid the downturn in the global economy, and will be there for a while, the chief executive of U.S. steelmaker Nucor Corp said Wednesday. Speaking to reporters on the sidelines of American Metal Market's Steel Survival Strategies conference, Nucor CEO Daniel DiMicco said, " Based on what's happened up to now, we should be at or near bottom, but we're going to be there for awhile." "We are still running at greatly reduced capacity. There's been some improvement since the first quarter, but I would not say significant improvement at this time," He added that Nucor was operating at "lower levels than anything we have seen for 45 years." Indian-owned British steelmaker Corus announced yesterday a series of further job reductions, which have become necessary because of the worldwide economic downturn and, in particular, the decline in steel demand in Europe and America. Thamesteel a British mini-mill is by contrast operating at full production capacity for rebar and wire rod a spokesperson for the company said. The global steel industry has been hit by a collapse in orders from the auto and construction sectors. The world's biggest steelmaker, ArcelorMittal, has also been forced to slash its output.
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June 26th  - General Beijing China - World’s commodities giant, making bigger waves
For China, the trade dispute raised this week with the West may in retrospect seem minor compared to the ructions that await Beijing as its state firms start to punch their weight on global commodity markets. The U.S. and EU complaint to the World Trade Organization accuses China of unfairly restricting exports of several metals such as zinc, steelmaking ingredient coke and bauxite, the raw material for aluminium; at the same time India and Australia complained about Chinese firms dumping cheap aluminum goods. Both are the result of China using tried and tested tax or tariff policies to ensure resource supplies and protect domestic industry. But as its domestic demand begins to outstrip its own resource base, those policies will become less effective. For commodity markets, the concern is that Beijing could utilize its growing trade network and strategic stockpiles as its next best lever to protect its economy.
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June 25th  - General Washington D.C. - American Steel Industry supports new WTO case against China
The American Iron and Steel Institute (AISI), the Committee on Pipe and Tube Imports (CPTI), the Steel Manufacturers Association (SMA), the Specialty Steel Institute of North America (SSINA) and the United Steelworkers (USW) today indicated their strong support for a new World Trade Organization (WTO) dispute filed by the United States and European Union. The case challenges China's export restrictions on key raw materials and minerals used in manufacturing.
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June 25th  - General Dammam Saudi Arabia - Steel pipes demand to exceed 1.7 million tonnes in Saudi Arabia
Mr Riyad Al-Rabee'a MD of the Saudi Steel Pipe Company believes that the demand for steel pipes in the Kingdom of Saudi Arabia exceeds 1.7 million tonnes per year. He said that the specialized kinds of pipes are imported from abroad to meet the Kingdom's requirements at the gigantic oil projects and for implementing expansion of water and electricity networks. In a statement to The Saudi Press Agency, he said that the wheel of development in the Kingdom has enabled the steel pipes industry to attain a remarkable success.
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June 24th  - General Riyadh, KSA - Saudi Steel Pipes Reviews IPO Proceeds use plan
Saudi Steel Pipes Co announced it has halved its stake in a planned plant, few days before it launches an initial public offering to raise 400 million riyals . New shareholders have joined the 485 million riyals plant project, which is set to start production in 2012, the company said in a note on the website of the regulator Capital Market Authority. "The share of the company in the project will decline from 50 to 25 percent. As a result, the proportion of the IPO proceeds that will finance the project will decrease from 25-30 percent to 15-20 percent," it said. In a listing prospectus published earlier on the website, Saudi Pipes said none of the proceeds from the June 27-July 3 share sale would go to founding shareholders.
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June 23rd  - General New Delhi, India - Green Light on Expansion Plans for Surya Global Steel Tubes
Out of the total proposal of investment of about Rs 400 Crores, Rs 225 Crores has already been approved by the Board for Phase - 1 and High Mast Project with integration of Steel Pipes, Lighting Poles & other uses along with CFL of the company at Malanpur (near Gwalior) in the State of Madhya Pradesh. Out of total proposal of investment of about Rs 100.00 Crores, Rs 52.50 Crores has already been approved by the Board for Phase - 1 and balance investment will be undertaken in next 2-4 years for which approval from the board will be taken at appropriate time. The Board also ratified modernization and expansion of API & other Plants at Bahadurgarh in the State of Haryana with a cost of Rs 50.00 Crores.
June 11th  - General Vancouver Washington - Northwest Pipe Company and Lucid Energy Technologies announce PowerPipe(TM)
Northwest Pipe Company and Lucid Energy Technologies, LLP announced today the successful completion of preliminary testing of a renewable power-generation prototype called Northwest PowerPipe(TM). The innovative system is designed for installation in new or existing water transmission pipelines. When fully developed, Northwest PowerPipe(TM) (patent pending, worldwide rights reserved) will enable utilities to capture untapped energy from normal pipeline operations without disrupting water flow by transforming excess head pressure into electricity. It is anticipated the systems will be available in 2010.
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June 10th  - General Milan Italy - Prysmian to showcase comprehensive range of products and services for the oil gas & petrochem industry at Oil & Gas Asia 2009 in Kuala Lumpur
Prysmian Cables and Systems, leading worldwide player in the energy and telecom cable markets, is to showcase its cable solutions for the Oil & Gas Industry at OGA (Oil & Gas Asia) 2009, one of the largest Oil & Gas shows in Asia. Prysmian will present a wide range of high-tech cable systems including the latest AIRGUARD™, Thermoplastic and Steel Tube Umbilical and Flexible Pipe technologies as well as its Submarine Power cables and Onshore/Offshore cables.
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June 9th  - General Brantford Ontario - An e-mail to the editor
Hello! I have just read your article Will Obama’s green policy kill the U.S. steel wire industry. and checked in the latest EUROSTAT for Spain on elelctrical generation. The latest stat available is 1996 -2007. Total production was steadily increasing from a mere 170000 GWh in 96 to just above 300 000 GWh in 2007. This indicates that the demand for electricity in Spain has almost doubled in 10 years and normally that leads to a steady increase in the price. When part of the increase is met with solar or wind power the cost for the last kWh sold will be the price for all kWhours sold. The portion of wind power is less then 2% of the total production and can hardly be the reason for all 2008/2009 problems. With lower demand for electricity the price should go down but this is an almost monopoly market situation, so the price for the last wanted kWh sets the price.
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June 9th  - General Washington D.C. - US stimulus program not boosting steel demand.
Economists say that infrastructure spending is below expectations. About USD 110 billion has been allocated in the stimulus package as extra spending on infrastructure projects with USD 38 billion earmarked in the first wave of road, highway, bridge and infrastructure construction. And that is keeping a lid on purchasing of steel beam, plate and reinforcing bars. Mr Charles McMillion chief economist at MBG said that "Right now, the government is the horse that everybody is betting on because of the stimulus plan to start spending on roads and bridges and other activity that will help push some manufacturing production growth." But an Associated Press review of USD 18.9 billion in projects ready to start shows that many struggling communities don't have projects waiting on a shelf because they can’t afford the millions of dollars for preparation and plans that are required. Atop that, annualized first quarter private and public spending on nonresidential construction at USD 692 million is averaging 3% less than the pre stimulus USD 713 million spend in 2008.
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June 9th  - General Balboa Spain - Now light sighted at the end of the tunnel yet
Spanish steel tube makers have yet to perceive any signs of renewed order activity, dampening recent hopes for a recovery, executives from two Spanish companies said at the end of a two-day conference. Both companies specialize in seamless tubes and rely heavily on the oil sector, where investments have slowed and orders have been cancelled or delayed due to the oil price decline and the global economic crisis.Investors and analysts have said expectations on equity markets of "green shoots" of global economic recovery have driven oil prices higher and boosted hopes for renewed activity in the oil services sector."We don't like to talk about green shoots because the truth is we don't see very many," Tubos Reunidos' financial director Luis Pomposo Gaztelu told a conference at Madrid's stock exchange."(Sector) demand was down 50 percent in February, something we thought would have been impossible, and now it's down between 50 and 60 percent," Pomposo said.
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June 6th  - General Shanghai China - Shanghai Futures Exchange, SHFE likely to be world steel futures pricing center
According to Mr Xi Zhiyong, assistant of general manager of Shanghai Futures Exchange, during past two months, steel futures contracts were paid high attention. Mr Xi Zhiyong said "Shanghai will become global steel pricing center in 3 to 5 years. But the center is likely to be formed in 1 to 1.5 years under present development. He explained that if steel mills were able to actively enter domestic futures market and fixed prices in spot transactions according to futures contracts with self-conscious, the worldwide steel pricing center would be formed in advance."
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June 6th  - General Brantford Ontario - Highly unlikely wire mills would source and steel mills sell via Metal Exchanges Svensson says
Steel is not a commodity like copper, steel is an alloy that is sold in virtually thousands of grades. Even simple grades like those used in rebar are sold from the mills in hundreds of various shapes forms and grades In the United States, the size designations of these mild steel bars used to reinforce concrete are set by ASTM International. Distributors usually stock rebar in 20- and 60-foot lengths. Most bars are “deformed,” that is, a pattern is rolled onto them which helps the concrete get a grip on the bar. The exact patterns are not specified, but the spacing, number and height of the bumps are. Between 1947 and 1968, a separate standard (ASTM A 305) covered the deformations. Since 1968 the deformation requirements have been incorporated into the basic standard. Plain bars are also made, but are used only in special situations in which the bars are expected to slide (for example, crossing expansion joints in highway pavement).For more details use this link
June 5th  - General Kolkata India - Steel producers to follow global cues and hike prices some say others disagree
Taking a cue from the trend of price rises in global steel market, domestic Indian producers are likely to hike prices from July. Jatinder Mehra, chief executive officer, Essar Steel said, “I believe, in July there will be some push in the market. In the Indian market, revival has already begun. Auto, fabrication, capital goods and white goods are doing very well.” In the flat products segment, hot rolled coil (HRC) prices have not seen a hike since September last year. Last month, long product, cold rolled and galvanised prices were raised. However, the main concern for domestic producers is the cheap imports. Rashtriya Ispat Nigam Ltd (RINL), after increasing prices last month, decided to rollback this month. Sources said, imports of 31,000 tonnes of wire rods would be delivered at Mumbai port during May-July. Acharya said, India was becoming a dumping ground the cost of landed imports was injurious to the industry.
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June 5th  - General Vancouver Washington - Northwest Pipe Company announces $14 million in projects
Northwest Pipe Company is pleased to announce that we have been selected as the pipe supplier for two major water pipeline projects. These two projects have a total contract value of $14 million. The first contract is with Ames Construction of West Valley City, UT. Northwest Pipe will supply approximately 10,000 feet of 96" pipe for the Utah Lake/Spanish Fork Reach 3 project. The pipe will be manufactured at the Adelanto, CA facility with delivery scheduled to begin late in the third quarter of this year. The second contract is with SJ Louis Construction of Mansfield, TX. Northwest Pipe will supply approximately 20,000 feet of 60" pipe for the Utah Lake/South Fork to Provo Canal/Mapleton Reach project. The pipe will be manufactured at the Saginaw, TX facility with delivery to begin early in the third quarter.
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June 3rd  - General Brantford Ontario - A society cannot survive selling stock certificates to each other.
GDP by definition is the value of all goods and services produced in a specific country. It is the most widely used measure of economic activity and regarded as the principal indicator of economic performance. Unfortunately a closure scrutiny reveals that GDP can be grossly misleading since it includes services like the financial sector that does not produce any added value and accounts for approximately 8 percent of the total gross domestic product in the United States. Much of the sector is involved in selling stock certificates an activity that with the exceptions of IPOs (Initial public offerings) is like a society of Chinese laundries that make a living washing shirts for each other. The sector has experienced an increase in size averaging 6.44 percent annually. That’s approximately 1.49 percent more than the U.S. GDP as a whole and has therefore incorrectly given the impression that during the past decade the US economy was growing.
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June 3rd  - General Moscow Russia - TMK starts LSAW pipe supplies to the Central Karakum-Yylanly Pipeline
TMK, one of the world's leading producers of oil and gas pipes, announced that it began shipments of longitudinal welded large diameter pipes to Turkmengaz State Concern for the Central Karakum Yylanly compressor station pipeline. The release said “More than 28,000 tonnes of 720mm K55 pipe with 8mm wall thickness will be shipped between May and August 2009. The pipes will be delivered with external anticorrosion coating which improves reliability and increases lifespan.” The release added that the pipeline will run from the Central Karakum gas deposit to the Yylanly compressor station in the Dashoguz province, connecting gas fields in Turkmenistan's desert region with the republic’s network and the Central Asia-Center gas pipeline system. TMK was chosen as sole supplier of pipes for this project. (source SteelGuru)
June 2nd  - General Brantford Ontario - What is good for General Motors is good for America – Really?
The wheel fell off the GM cart yesterday. Actually the company has been loosing money for decades culminating with a whopping US$ 31 billion loss in 2008. Now in this bizarre new world created by Ottawa and Washington D. C, healthy companies like Nissan, Toyota and Honda and five other foreign car makers with North American assembly plants are punished through the General Motors and Chrysler US$ 73 Billion (US+Canada) bail out which is like getting a $14705 subsidy per every new car produced. Less than two decades ago, Detroit's Big Three were the U.S. auto industry. But now there's a second auto industry: One that is nonunion, foreign-owned and Dixie-based. That's why Southern senators worked so hard to block the bailout. In the Central Kentucky town of Georgetown, just north of Lexington, Toyota has invested $5.3 billion, in a 1,300-acre plant that produces a car roughly every minute. In the process, Georgetown's population has doubled.
June 1st  - General Luxembourg - ArcelorMittal raises funds to lengthen the debt maturity profile
On 27 May 2009, ArcelorMittal completed the pricing of two series of EUR denominated notes for an aggregate principal amount of EUR 2,500,000,000 consisting of EUR 1,500,000,000 principal amount of its 8.250 % Notes due 2013 and EUR 1,000,000,000 principal amount of its 9.375 % Notes due 2016. The proceeds to ArcelorMittal (before expenses), amounting to approximately EUR 2.5 billion, will be used to lengthen the debt maturity profile and to refinance existing indebtedness. The offering is scheduled to close on 3 June 2009, subject to satisfaction of customary conditions.
May 30th  - General Brantford Ontario - Rumors of shutdowns abound but what is actually planned and does parent company domicile effect what mills are shut.
It can be assumed that labor legislation will determine what mills will bear the brunt of rightsizing but in the tracks of globalization and the number of acquisitions that steel companies in particular embarked on financing conditions of government loan guarantees and other concessions start to have an impact. US-steel Arcelormittal and Tata have recently run into opposition from governments that feel that the companies are not living up to there commitments. Canadian government prepared to spend $1.4-million for every job saved Canada's leading Business daily reports. With the latest forecast pegging the overall auto bailout bill at as much as $13.5-billion, or more than three times the original estimate, politicians are testing the limits of recession-racked Canadians' tolerance
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May 29th  - General Brantford Ontario - How insane will it be allowed to get?
The policy "Too Big To Fail" defies all financial logics. First it was the banks that out of greed embarked on reckless sub prime mortgage lending, followed by funding of ill conceived corporate acquisitions, which they then topped off with highly speculative trading in derivates. When the house of cards eventually collapsed, we the people were told by our elected leaders to cover the losses these "untouchables" had raked up. Trillions of dollars pounds yens and Euros were poured into this financial black hole. Now it is the turn for BIG MANUFACTURING ENTERPRISES to play the extortion game. If GM and Chrysler fail millions of manufacturing jobs will be lost - so what? Where do you draw the line?
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May 28th  - General Beijing China - China to reduce steel output
The Chinese government has moved to clamp down on steel producers that are still increasing their output, despite a collapse in demand. The Ministry of Industry and Information Technology issued a notice calling on commercial banks to restrict or cut off credit to steel enterprises that are "blindly expanding in disregard of the market." The ministry says in a notice that steel output is seriously oversupplied and imports of iron ore were also showing excessive growth, creating massive risks for the industry. National Bureau of Statistics figures show that the output of China's pig iron in April was over 41 million tons, up almost half of one percent. Steel output was nearly 53 million tons, up 2.6 percent. Figures from China's Custom indicated that China exported 1.4 million tons of steel in April, down 71 percent year-on-year.
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May 26th  - General Dusseldorf Germany - Promising figures in troubled times 70% of floor space for wire 2010 and Tube 2010 booked.
The wire manufacturing and processing industries are defying the tough economic times while tube and pipe producers and processors also focus on continued good sales, Messe Dusseldorf said in a press release Monday. Preliminary registration figures give rise to hope: after the official deadline for registrations in late April Tube registered just under 32,000 square metres of exhibition space by the time the registration deadline expired – promising interim results since the organisers expect to receive numerous registrations by late summer. Tube will occupy exhibition Halls 1 to 7.0. Ranging from current manufacturing technologies to the deployment of new materials – every two years Tube as the international meeting point for the tube & pipe industry provides a complete overview of the innovations in these sectors. In 2010 the fields of plastic pipes and tubes, sections and section technology plus the entire area of OCTG technology will particularly be in the limelight.
May 26th  - General Shanghai China - China steel group urges higher export tax rebates
China should adopt more generous export tax rebates for steel products to bolster the industry, where losses are worsening due to overproduction and sluggish domestic demand, a senior industry executive said. China's rebate policy needs quick and sweeping adjustments to stabilize domestic prices and maintain competitiveness, Luo Bingsheng, deputy head of the China Iron and Steel Association, was quoted as saying in the official Shanghai Securities News on Saturday. China has increased export tax rebates several times this year, most recently on March 27, improving access to the overseas market for some steel and stainless steel products as well as thousands of other categories of goods. But China, the world's largest steel-making nation, has already encountered friction with its trading partners over its steel export tax rebates, including an anti-dumping investigation over steel pipe imports in the United States.
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May 25th  - General Washington D.C. - U.S. trade panel approves China steel import probe
A U.S. trade panel gave its unanimous approval on Friday to a government anti-dumping probe that could lead to steep U.S. duties on an estimated $2.6 billion worth of Chinese steel pipe used in oil production. The U.S. International Trade Commission (ITC) voted 6-0 in favor of the investigation on the basis that there was a reasonable indication that the U.S. industry is threatened with material injury by the Chinese imports. The case is one of several prickly trade issues between the United States and China. Tensions have been exacerbated by the growth in the U.S. trade deficit.
See Extended Story..
May 25th  - General Wheatland, Pennsylvania - "Buy American" creating rift in steel
Wheatland Tube Co. has ended its relationship with Duferco Farrell Corp. because of "Buy American" provisions in the $787-billion federal stimulus package, according to local and national media accounts. The move could cost as many as 600 United Steelworkers union members their jobs, according to a Duferco Farrell executive interviewed by the Washington Post. The Farrell, Pa.-based steelmaker sources slabs from abroad and transforms them into steel coils used to make steel tubes, the newspaper reported.
May 23rd  - General New York City - Wall Street casino gamblers betting on the commodity future contango structure to continue may get burnt as US copper slips at open on fragile economic outlook
U.S. copper futures opened sharply lower on Thursday as broader market sentiment soured in response to a pessimistic growth forecast from the Federal Reserve and bearish unemployment data that threw economic recovery hopes into question. Copper for July delivery HGN9 slipped 6.60 cents, or 3.1 percent, to $2.0405 a lb on the New York Mercantile Exchange's COMEX. The U.S. Federal Reserve cut its 2009 forecast for gross domestic product and raised its outlook for unemployment, tempering recent optimism that the economy might be turning the corner. Setback in metals will not lead to yet another "buy the dip" situation. It may last for several more sessions, especially if overbought U.S. equity markets also show signs of fraying said MF Global analyst Edward Meir. London Metal Exchange warehouse stocks declined 5,400 tonnes to 336,075 tonnes on Thursday. Canceled warrants (metal set to leave warehouses) rose to 51,850 tonnes from 50,325 tonnes the previous day. COMEX copper stocks increased by 637 short tons to 51,711 short tons as of Wednesday.
May 21st  - General Guilford, Connecticut - WAI supports mission, leads industry~{!/~}s educational frontier with webinar broadcasts
The Wire Association International (WAI), Inc., will host the third in its ongoing series of webinars, the next of which, entitled ~{!0~}Copper: managing price risk,~{!1~} will focus on how companies can control risks related to the volatility of copper pricing. The live webinar is scheduled to air Wednesday, June 3, at 11:00 a.m. Eastern Daylight Time. The one-hour webinar will feature presentations by three panelists: Neville Crabbe, president, Leoni Wire, Inc.; John Gross, president of J.E. Gross & Company; and Billy Harold, general manager, C.N. Wire Corporation, followed by a question and answer segment. Commodities have shown unprecedented price volatility over the past several years. In the past nine months, copper soared to record highs then fell to multi-year lows. This webinar is designed to identify and discuss the many tools available to help companies manage price risk and enable an organization to maintain itself during turbulent times. The content is targeted toward operations and administrative management personnel engaged in the purchase, inventory, or pricing of products involving copper. For full details use this link
May 21st  - General London U.K. - WAI webinar (see above) most timely in lieu of current contango structure in commodity future markets.
Reuters columnist John Kemp drew the attention to the current contango structure in crude oil futures and most other commodity markets. With future prices significantly above the spot market the exchanges are providing a strong incentive to buy and store record quantities of raw materials, with most of the cost borne by retail investors in exchange-traded funds and institutional investors in long-only commodity indices. This "cash-and-carry" strategy rewards market participants with access to storage or finance at the lowest cost. It is providing huge profits for physical commodity merchants, investment banks, and the owners and operators of warehouses and tank farms during the downturn, and helps explain the record profitability from commodity operations reported recently by some of the largest banking and trading groups. In the current market, the cash-and-carry strategy rewards well-connected "insiders" such as investment and commercial banks able to secure almost unlimited financing at zero-cost as a result of quantitative easing programs. Editors note: The losers in the case of copper and aluminum are of course the legitimate buyers of the commodities like cable producers that have to cope wide price swings. The biggest losers are the taxpayers that have provided these financial Wall Street tricksters with the cheap funding that was intended to ease the impact of the financial crises and make commercial credit available to regular businesses. It will be most interesting to hear what these leading cable producers have to say.
May 21st  - General Beijing China - Construction of Chinese section of China-Russia oil pipeline starts
Xinhuanet.com reports that Wang Qishan, Vice-Premier of China's State Council, attended the opening ceremony of the Chinese section of the China-Russia oil pipeline in the town of Xingan in Mohe County, Heilongjiang Province on the morning of May 18, and announced the start of construction of the pipeline. On May 18, China Central Television (CCTV) also reported on the official start of the construction of the Chinese section of the China-Russia oil pipeline in Xingan Town of Mohe County in Heilongjiang Province. The pipeline starts from the Skovorodino off-take station in the far east of Russia, passes through "Dzhalinda" station on the Russian border and 12 counties and cities in Heilongjiang Province and Inner Mongolia Autonomous Region, before reaching the terminal station in Daqing. The pipeline totals 1,030 kilometers in length and has a designed annual capacity of 15 million tons of crude oil; the Chinese section is 965 kilometers in total length. Construction of the Russian section already started on April 27. Source Peoples Daily on line.
May 20th  - General Pueblo Colorado - Workers' woes laid on China
Pueblo steelworkers have joined steel companies nationwide asking for government help after layoffs they say were forced by unfair trade practices by Chinese steel competitors. "I have no health insurance now. I don't understand how the United States can allow this," said Eddie Barela, 39, one of about 50 workers laid off recently from Evraz Rocky Mountain Steel in Pueblo ~{!*~} the old Colorado Fuel & Iron plant that employed his father for 35 years. This week, federal investigators expect responses from 212 Chinese seamless-pipe factories and China's government after launching a probe into how allegedly unfair trade practices might have hurt Barela and hundreds of other seamless-pipe steelworkers. A petition filed by Evraz Rocky Mountain Steel and six other companies urges the government to take economic action against China.
See Extended Story..
May 19th  - General Sofia Bulgaria - Kremikovtzi steel workers clash with police
Shut-down is looming for Bulgaria's insolvent Kremikovtzi steel mill as state gas monopoly Bulgargaz gradually cut gas supplies on Friday. The move followed the failure of negotiations between Brazilian metallurgy giant CSN, the only potential bidder for the troubled steel mill, and its management, which was the last hope for survival of the sprawling communist-era behemoth. Later in the day workers from Bulgaria's Kremikovtzi steel mill rose in protest and the rally turned violent as they tried to storm the building of the Economy and Energy Ministry. Two people were arrested. The protesters demanded an explanation for the cut in gas supplies to the plant and its looming shut-down from Economy Minister Petar Dimitrov, whose department holds a 25% stake in Kremikovtzi and is in a position to exert pressure. Trade union leaders added fuel to the protest, saying that the smelter's major production units are being closed at a time when there is a real chance for the implementation of a recovery plan. This will rob the plant of any possibility to recover even if an investor declares interest in it, the trade unions said.
See Extended Story..
May 19th  - General Tokyo Japan - Japanese March steel exports dip by 33% YoY
Steel Guro reported Friday that according to the Japan Iron & Steel Federation, Japan's export shipments of iron and steel products totaled 2,623,000 tonnes in March 2009 down by 32.7% YoY up by 39.3% MoM. The federation said that the values of the exports totalled USD 2,967.92 million down 28.0% from a year ago. In terms of yen, the values totaled JPY 286.5 billion down by 33.3%. Of the total export shipments, ordinary steel products accounted for 1,694,000 tonne down 36.8% from a year agoof which Of the welded and butt welded pipes made up 121,000 tonne down 29.9% seamless pipes 71,000 tonnes down 25.2%; bars 44,000 tonne down 50.8% and wire rods 21,000 tonne down by 49.9%. In the breakdown of the total export shipments by main destinations, South Korea took 828,000 tonnes down by 17.2% from a year ago; China 496,000 tonnes down by 27.7%; Taiwan 201,000 tonne down by 42.2%; Thailand 120,000 tonne down by 67.8% and the USA 157,000 tonnes down by 17.2%.
May 18th  - General Brantford Ontario - More than cheerleading required to pull the economy out of recession.
As Canadian's we celebrate Queen Victoria's Birthday, queen of an empire where the sun never set, so today there will be no daily wire and cable bulletin, just an editorial reflection, that the sun has finally, if not set, at least entered the twilight zone. And the once vigorous Uncle Sam, who will celebrate Memorial Day next Monday seems to have lost, if not all, most of the dynamics of yesteryears. Two Great societies that once rewarded ingenuity, creativity and technical innovations and built manufacturing bases of immense strength and proportions have been replaced by two societies where financial tricksters have been allowed to manipulate the financial system, the stock market and the commodity exchanges. The Media talks today about a credit crunch. Availability of commercial credit is of course need, but only due where credit is deserved. To pile on more debt on BIG BUSINESS that is already broke and staggering under a debt load they can never hope to repay will not bring back prosperity and employment for the million of workers they once employed. At best it will delay the inevitable. In the worst scenario the financial bailouts that are now in the trillions will only erode the monetary system and delay any swift recovery. The saving grace will be provided by the record number of small independent businesses that has sprung up in the wake of the present calamity.
May 16th  - General Montreal Quebec - ArcelorMittal faces worker revolt on both sides of the Atlantic
As we reported Wednesday the steelworkers threw smoke bombs and broke windows to get management's attention at ArcelorMittal's annual shareholders meeting in Luxembourg on May 12. They were angry that Lakshmi N. Mittal, chief executive and largest shareholder of the world's biggest steel company, has been quick to cut output and jobs. And Thursday the violence in Europe came to Montreal as the union representing Arcelor's Quebec-based workers launched a pressure campaign to force the steelmaker to build a steel beam mill at its Contrecoeur complex, a 20-minute drive east of Montreal. Daniel Roy, Quebec director of the United Steelworkers, which represents about 400 remaining factory employees at the facility, said the company pledged in 2007 to invest in a new mill but that never happened. But there is not much Lakshmi N. Mittal, the chief executive can do. He told shareholders global demand for steel will shrink 15% to 20% this year, the steepest decline since World War Two. The outlook has worsened as the company's automotive customers struggle with depressed new car sales and activity stalls in other key industries that depend on the metal, such as real estate construction. "There's no point in making steel that we cannot sell," Mr. Mittal concluded.
See Extended Story..
May 14th  - General Luxembourg - Angry ArcelorMittal workers storm Luxembourg HQ
AFP reported that angry employees of ArcelorMittal stormed an annual general meeting at the steel giant's headquarters in Luxembourg Tuesday to protest against plans to cut jobs. As per report police fired rubber bullets after a number of people broke down the building's doors and smashed ground floor windows, then threw smoke flares and boards from inside. One unionist who tried to break through a police cordon was arrested. According to a union leader and police, around 1,500 demonstrators had gathered outside the ArcelorMittal headquarters in the city centre.
See Extended Story..
May 13th  - General Brantford Ontario - If China loses faith in the dollar the US empire will collapse
Emerging economies such as China and Russia are calling for alternatives to the dollar as a reserve currency. The trigger is the Federal Reserve’s liberal policy of expanding the money supply to prop up America’s banking system and its over-indebted households. Because the magnitude of the bad assets within the banking system and the excess leverage of its households are potentially huge, the Fed may be forced into printing dollars massively, which would eventually trigger high inflation or even hyper-inflation and cause great damage to countries that hold dollar assets in their foreign exchange reserves.
See Extended Story..
May 12th  - General Brantford - Apologies for the late news
Due to a server error caused by a hacker attack we were unable to post May 12 news until 14.45 EST
May 11th  - General Brantford Ontario - Demand for steel products outstrips supply in at least one region.
Our weekend bulletin had this rather depressing news item May 9th, 2009 Brantford Ontario - Steel sucks everywhere. that requires the correction "but not in the Middle East" With more than US $1 trillion worth of construction projects planned or under way in the GCC alone, demand for steel products has grown to unprecedented levels. And with oil prices set to remain above $50 a barrel in the near future, the buoyancy is likely to stay for some time. The economic boom has ensured that demand for steel products outstrips supply. For example, the GCC produces 7 million tonnes per year of steel reinforcement bar (rebar), which falls short of local demand of more than 9 million tonnes per year. In Dubai alone over US $1.5 billion worth of construction projects, of which steel is a key ingredient, hit the market in the first six months of this year. While iconic super tower in the emirate - the US $20 billion Burj Dubai - consumed over 38,000 metric tonnes of steel rebar when it touched 70 levels in the first week of September, the completion of the seventh floor of the World Trade Centre Residence, a state-of-the-art 40-storey luxury residence in downtown Dubai, used 630 metric tonnes of structural steel components.
See Extended Story..
May 11th  - General Brantford Ontario - Governments putting screws to companies that don't meet commitments
For the second time in three weeks, federal Industry Minister Tony Clement has warned a foreign company that it must live up to commitments made when it bought a Canadian business. Clement said Wednesday that he had written to U.S. Steel, asking the company to comply with undertakings it made when it bought Stelco in 2007. In April, he asked Brazilian company Vale to explain a layoff at Vale Inco, the Canadian nickel mining giant it bought in 2006. He wrote the letter to U.S. Steel after said in March that it was temporarily shutting down its Hamilton mill and closing most of its Lake Erie operations, affecting up to 1,500 jobs. When U.S. Steel bought Stelco, "it committed to a series of undertakings regarding, among others, capital expenditures, research and development and production," Clement said in a news release.
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May 11th  - General Brussels Belgium - EU Court Upholds Fines for Copper Tube Cartel
The European Commission properly fined three companies a total of more than $106 million for forming a cartel in the copper tubes market, the Court of First Instance ruled. In late 2003, the Commission fined German company Wieland-Werke 20.79 million euros, or about $28 million; Finnish company Outokumpu 18.13 million euros, or $24.5 million; and the KME Group 39.81 million euro, or $53.7 million. The companies took action to reduce or dismissed the fines, but the court denied their request. The copper tubing produced by the companies is used in the refrigeration and air conditioning industries. "The cartel consisted essentially in fixing prices, coordinating price increases and sharing markets," the court wrote, "particularly by the allocation of customers and market shares and the exchange of confidential information."
See Extended Story..
May 11th  - General Memphis, Tennessee - Lower commodity values drag Mueller Industries to first loss in 18 years
Mueller Industries Inc. rode the wave of record high copper prices during the first three months of 2008 to a 45% profit increase over the year-earlier period. Fast forward to 2009, and it's a much different story for the maker of copper tube, fittings, brass rod and forgings. The 2008 IW 50 Best Manufacturer posted its first operating loss since 1991 in the first quarter after the average copper price dropped 55.5% from the year-ago period, the company reported April 21. For the three months ended March 28, the company's net loss totaled $2.5 million, compared with a profit of $27.4 million during the same timeframe last year. The Memphis, Tenn.-based manufacturer's net sales dropped $225 million in the first quarter from lower selling prices in the company's Plumbing & Refrigeration segment and fewer sale in Mueller's OEM division.
May 9th  - General Brantford Ontario - Steel sucks everywhere.
The World Steel Association (worldsteel) forecasted that worldwide apparent steel use is expected to decline by -14.9% to 1,018.6 million metric tons (mmt) in 2009 after declining by -1.4% (1,197 mmt) in 2008. However, steel demand is expected to stabilize in the latter part of 2009 leading to a mild recovery in 2010. See wirenews May 5th, 2009 - Market Stats London U.K. - World Steel Association's projections for apparent steel use Below are some recent head lines: Dropping steel exports drives Chinese domestic market under depression The Metallurgical Industrial Planning & Research Institute (MIPRI) of China reported that the Chinese domestic steel market has experienced tremendous depression. Even its steel production capacity still remains on a steady high level. The export capacity has been affected greatly by the global financial crisis while the steel export rate reduced by 55 percent in the first quarter, the steel price decreased to the same level in 1994, with a loss of RMB3.3 billion for many companies. Furthermore, the whole sales revenue was being reported at a 21.7 percent reduction contrast to last year. The fact that the actual profit tax went down by 83 percent has resulted in inactivity for the first quarter this year. Summary of Ukraine steel export in Q1 According to the export data of the first quarter of 2009, Ukrainian steel pipes exports dropped 28.5 percent to 309,430 tons; billet exports dropped 10.3 percent to 2.94 million tons; flat products export volume dropped 38.1 percent to 1.424 million tons; long products declined by 42.6 percent to 1.035 million tons, compared with the same period last year. In addition, Ukraine ferroalloy exports decreased by 65.3 percent to 88,860 tons, whereas scrap exports from Ukraine dropped 24.1 percent to 89,710 tons. According to the information of International Steel Association, Ukraine is still one of the first ten leading steel export countries. In the first quarter of 2009, Ukraine exported 6.2 million tons of finished products, which is a drop of 33 percent; crude steel was 6.82 million tons, decreased by 38 percent. Valin Steel posts CNY 0.387 billion loss in Q1 caijing.com.cn reported that after the falling trend in the fourth quarter of last year Hunan Valin Steel Co Ltd a listed arm of Hunan Valin Steel Tube & Wire Co Ltd has released its quarterly report on April 28th indicating a profit loss in Q1. And it is predicted to continue the sliding performance in the following three months. In the report period, Valin Steel has gained the operating incomes of CNY 10.27 billion down by 8%YoY. The company also suffered a loss of CNY 0.387 billion down by 46.56%YoY. The ESP in the Q1 stands at negative CNY 0.1411. The previously released 08 annual report shows that the company has lost CNY 0.288 billion in the Q4 last year. The main reason behind the profit loss is the diving sales prices of steel products in the period. As per the monitoring of Lange Steel, there are 9 major steel varieties at home market having fallen to the lowest level in last November by March 31st. The mill forecasts a negative total profit will appear in the first second half this year due to the price downtrend and weak demands. And the total amount may come at around CNY 0.5 billion which means the amount of loss would surpass CNY 0.1 billion in Q2 this year.
May 9th  - General Brantford Ontario - Encouraging job numbers in Canada and Australia but situation grim in EU and US.
Unexpected new jobs in Canada created in April Statistic Canada announced Friday. Canada's economy added 35,900 jobs in April, while economists had expected a 50,000 decline. The most encouraging news was that most jobs were in the self-employed category, however, while the national unemployment rate held steady at 8 per cent. In the U.S. Secretary of Labor Hilda L. Solis issued the following statement on the April 2009 Employment Situation: "This past April, our economy lost 539,000 jobs, bringing the total number of jobs lost since this recession began to 5.7 million. The overall unemployment rate has increased to 8.9 percent." By contrast Australian employers unexpectedly added workers in April and the jobless rate dropped, driving the local currency to a seven-month high on signs the nation~{!/~}s economy is skirting the worst of a global recession. The number of people employed climbed 27,300 from March, the statistics bureau in Sydney said Thursday. The jobless rate fell to 5.4 percent from 5.7 percent. The European Commission forecasted on Monday that Europe was set to see a dramatic rise in unemployment to the highest levels since the end of World War II with 8.5 million Europeans expected to lose their jobs in 2009 and 2010. The return of mass unemployment in Europe would drive the jobless rate in 2010 to 11.5 percent in the eurozone and 10.9 percent in the EU, the commission estimated.
See Extended Story..
May 8th  - General Geneva, Switzerland - WTO Secretariat reports increase in new anti-dumping investigations
The WTO Secretariat reported that during the period 1 July to 31 December 2008, the number of initiations of new anti-dumping investigations showed a 17 per cent increase compared with the corresponding period of 2007. On a yearly basis, there were 208 initiations of new anti-dumping investigations in 2008, as compared to 163 in 2007 and 202 in 2006. The number of new measures applied also increased between these periods. In particular, during July to December 2008, 15 WTO Members reported initiating a total of 120 new investigations, compared with 103 initiations reported by 14 Members for the corresponding period of 2007. The WTO Secretariat did not say so but it is obvious that the recession is the driving force behind the increase.
May 8th  - General Jakarta Indonesia - Plans for ArcelorMittal steel project in Indonesia remain but schedule open.
The world's largest steel producer, ArcelorMittal has settled its plans of setting up steel facilities in Indonesia during the global economic slowdown. ArcelorMitta said although it have decided to set up steel facilities in Indonesia at this hard time, we are not pursuing the project by any schedule of deadline. However, ArcelorMittal took in a very low profile and without making any formal announcement for a press news local media reported.
May 8th  - General Beijing China - CISA expresses dissatisfaction about U.S. anti-dumping on oil pipe
The China Iron & Steel Association (CISA) pointed out that America was selling steels to China at unreasonably low prices. China states that it is unfair as the U.S. set higher barriers for Chinese steels especially oil pipes to get into American market. For example, it has started anti-dumping investigation on Chinese steels from more than 200 Chinese mills. On the other hand, American mills are exporting large quantity steels to China with abnormal price levels. In fact, American steel industry is facing great threats because of economic recession and demand is predicted to decrease by 36.6 percent. China believes that what America has done would further damage word financial development and they may take further actions to react to this
May 6th  - General New York City - Climate law, dumping and carbon trading hurts industry-US steelmakers
The U.S. steel industry, hard hit by the global recession, urged Washington on Monday to enforce trade laws against foreign dumping and warned that climate change legislation will further hurt domestic steelmakers. "We need to make Washington stand tough on trade laws," said James Wainscott, chairman, president and chief executive of AK Steel Holdings.. "They must bring pressure to bear on China to live up to its WTO that market forces, and not the government, will determine the value of its currency," said Wainscott. He was speaking to reporters in his capacity as chairman of the American Iron and Steel Institute , an industry lobbying group, during its general meeting in Phoenix, Arizona.
See Extended Story..
May 5th  - General London U.K. - Mittal questions WSA projections on India, China
Global steel leader ArcelorMittal has questioned the World Steel Association's projections on demand growth in India and China saying there were anomalies in their forecasts. ArcelorMittal chief executive L N Mittal, who also heads WSA, instead made a two-and-a-half times higher growth projection for India at about five per cent. The association had projected that the Indian steel consumption would be nearly 2 per cent, while in China it would slip into negative terrain for the current fiscal. ".there are some anomalies in the WSA forecast vs our internal forecast," Mittal said after announcing ArcelorMittal first quarter results earlier this week. Mittal added that the forecast given by WSA is based on the information coming from the member countries and "necessarily not" the company will "100 per cent share the views of all the members." However, he maintained that "overall" he is "in agreement with the forecast" given by WSA.
See Extended Story..
May 2nd  - General London U.K. - Nobody in Europe dares to stock up on steel as prices collapse amid glut
Steelmakers will have to extend severe production cuts into the third quarter to cushion a further slide in prices as hopes for a demand recovery any time soon fizzle in the face of the global recession. The world's largest steelmaker ArcelorMittal's first-quarter results disappointed on Wednesday, but it sounded hopeful for the coming months and sees destocking nearing an end in several regions, with prices in some products posting a slight increase. But analysts say there is little evidence so far of a recovery in real steel demand and warn that steelmakers, particularly in Europe, must remain disciplined to survive the sharpest fall in demand since World War Two. (see also yesterday's news item EU steel market in disarray as cutbacks fail to stabilize prices)
See Extended Story..
May 1st  - General Brantford Ontario - ArcelorMittal has to improve results to avoid a breach of debt covenants
In the latest issue of Wire & Cable Business Review distributed this week at Interwire is an article "The Great Bond Market Crash of 2009" That outlines the staggering corporate debt loads and the trillions of dollars in corporate bonds that needs to be paid-off or rolled over in 2009 (To read article use this link) ArcelorMittal, said April 2nd it had extended US$1.2 billion of debts with the lenders until 2012, as it faced the dropping price for steel. The debts were original due in 2010 and 2011. ArcelorMittal had net debt of US$26.5 billion at the end of 2008, and it is hoping to pay off US$10 billion in debt by the end of 2009. The steelmaker has sold 1.1 billion euros of bonds in the past two months. It has to make repayments on bonds and loans of 1.1 billion euros in 2009 and 3.7 billion euros in 2010, according to data compiled by Bloomberg. Total debt, including loans and bonds, is 33.1 billion euros, according to Bloomberg data.
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April 29th  - General Corby Northamptonshire U.K. - Corus in talks to save steel jobs
Northamptonshire Evening Telegraph reports Corus is in talks with unions in a bid to cut costs and avoid making compulsory redundancies. The company, which employs 900 people in Corby, made 56 workers redundant and imposed a short working week at the start of the year. Now it is in further talks with the unions which will lead to a May ballot of members over cost-cutting proposals. Neither the company nor the unions would reveal what was being discussed, but staff have voiced concerns they may include pay cuts of up to 10 per cent. One employee, who did not want to be named, said: "It looks increasingly obvious that all Corus employees will be asked to vote on wage cuts early in May. Figures of 10 per cent have been talked about in work – but no firm figures are coming out. "Also talked about was the elimination of the monthly bonus and quarterly bonus schemes which contribute anything from £300 to £800 or more per quarter to our gross income. "The Corby site has made losses before and survived, but no-one has ever seen things as serious as this." Last year, staff across the country voted against a 10 per cent pay cut.
See Extended Story..
April 27th  - General London U.K. - New start-up investment Bank considered.
As the City's stock brokers tries to peddle shares in tired old mismanaged blue chips companies of yesterday, whose overpaid CEOs lacks every bit of creativity and vision that once made these enterprises of yesterday into what they once were Britain's Prime minister Gordon Brown said his government is considering setting up a new bank to invest in start-up and high risk business ventures. The Prime Minister said he would look at the case for setting up such a bank, targeting hi-tech firms. He said the proposed bank would "provide the finance for more difficult and more risky start-ups for high-technology businesses of the future". The National Endowment for Science, Technology and the Arts (Nesta) said government funding was needed as the credit crunch threatened a generation of small high-tech companies. It said that there was a 70% fall in new venture capital funding last year and warned that the UK could lose its global standing in areas such as healthcare and biotechnology. Nesta called on the government to go half-and-half with the private sector to provide £1bn for high-tech investment. Prime Minister Gordon Brown said he would be examining the case for setting up "a bank for industry and innovation".
April 25th  - General Perth Australia - China's steel market to worsen
China's depressed steel market is expected to worsen following a dismal April, which saw all of the Asian superpower's steel mills post a loss, AnSteel says. Zhang Xiaogang, both AnSteel's president and vice chairman of the China Iron and Steel Association, told reporters in Perth on Thursday the impact of the global recession on the steel sector had been extreme. "The world's steel industry was impacted severely by this economic downturn," Mr Zhang said. "From April, every single steel maker in China started to make a loss. "It will (be) even going worse from now on. "It will require the iron ore producers working together with the steel makers to go through the even tougher times." Mr Zhang said he would meet iron ore mining giant Rio Tinto Ltd on Friday to discuss "cooperation" during the downturn.
See Extended Story..
April 24th  - General Yekaterinburg Russia - Russian pipe maker ChTPZ Q1 shipments fall 36%
Russian steel pipe maker ChTPZ shipped 36 percent less in the first quarter of 2009 than a year ago as the global economic slowdown reduced demand for its pipe products. Privately owned ChTPZ said last week it shipped 268,000 tonnes of pipe products between January and March. The company said in a statement its largest plant, Chelyabinsk Pipe Rolling Plant, shipped 141,700 tonnes in the first quarter, including 82,900 tonnes of large-diameter pipes. The group's other plant, Pervouralsk Novotrubny, made up the balance of 126,300 tonnes.ChTPZ said in November 2008 it could cut thousands of jobs as it reduces output in response to weakening demand during the global financial crisis.
April 24th  - General Shanghai China - China~{!/~}s Steel pipe industry squeezed by declining demand and Anti-Dumping threats
China's domestic steel pipe prices have been dropping for ten straight weeks. And now, China's steel industry is facing anti-dumping threats from both the US and Europe. An April 17 report from mysteel.com, a Chinese steel information organ, shows the composite index for domestic steel prices at 119.9 points, a decrease of 1.2% from the previous week, 2.8% from the previous month, and 41.2% from the previous year. Price trends for different steel products differ. Prices for construction steels are going up, while those for some sheet steels are steadily decreasing due to supply surpluses.
See Extended Story..
April 21st  - General Brantford Ontario - What is going on in metals markets? Is China hedging against a possible falling US dollar.
Andy Home an independent a Reuters columnist notes that if you have followed the LME industrial metals index you might be forgiven for thinking that the worst of the recession is now over and the good times are here again. Prices have surged pretty much across the board and metals such as copper and lead are now showing remarkable year-to-date price gains in excess of 55 percent.
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April 18th  - General Vienna Austria - Voestalpine expects fall in steel market to continue for the next 12-18 month
Austrian steelmake