Steel Industry Insight
TURKEY Turkish steel mills started 2011 on a hesitant note, retreating from the scrap market before entirely satisfying their scrap needs.
Change is inevitable. In a society where the latest gadget becomes outdated nearly the instant you swipe your credit card, if a product or company isn’t changing and adapting, it will fall behind while its competitors thrive. Corporations and countries are constantly fighting to become the “next big thing” and become more self-sufficient.
Merger and acquisition activity is rarely very exciting—larger companies snapping up smaller companies or competitors to expand their reach or negotiations between two companies during times of financial trouble is nothing new, especially in the steel industry.
This certainly has been a difficult year for most industries and the steel sector is no exception. The first half of 2011 seemed to prove you right and I was about to eat my words, but the second half of the year unfortunately proved me right. I must admit that sometimes I hate to be right, but so be it. The economies in the US and in Europe positively buckled under the debt load and a lot of other economies have either stalled or are on the verge of doing so.
It happens every January (or for the past couple Januarys, at least)—not long after the New Year’s champagne is finished off and the confetti is swept away, members of the steel industry start to wonder if this year will finally be it. In early 2010, the prevalent hope was that things wouldn’t get any worse. […]
What a difference a little networking can make. The attitude of attendees going into the SteelOrbis & IREPAS Fall Conference this September was overwhelmingly pessimistic, but after a few days, a few presentations, a few drinks and a few laughs, the sentiment changed drastically, and steel industry players left St. Petersburg with a smile on […]
Steel fabrication has come a long way from the forges of medieval blacksmiths. While some steel-related sectors still have stuck to their basic historical roots (iron ore is still melted and mixed with carbon to form steel, even though the furnaces have vastly improved), the industrial revolution, the technology boom, and the blending of computer […]
Wherever you look, you’ll see crisis after crisis. Economies in Europe and the US are stalling and some are even on the brink of another downturn. Add to that the enormous amount of debt burdening the US and the Eurozone and you can easily see that the next economic meltdown is just around the corner.
What a summer! While heat waves blasted most of the US, demand for steel, unfortunately, remained lukewarm, and even the steel sector that is usually lively during the annual summer doldrums—scrap—followed a curious neutral trend for most grades and regions during the hot months.
Mr. Bull: Once again you must have been very satisfied with recent events that, on the very surface only, seemed to support your dire outlook. It appears that the global economic recovery in general is taking a breather and, specifically, most advanced economies are struggling once again. Growth in the US is faltering and the […]