Tag Archives: steel business
According to the provisional foreign trade statistics compiled by the Turkish Statistical Institute (TUIK) and the Turkish Undersecretariat of Customs, in April this year the value of Turkey’s iron and steel imports decreased by 25.8 percent year on year and was down by 16.5 percent month on month, totaling $1.16 billion and ranking fifth among […]
Turkish crude steel output continued to decline in February this year due to falling exports, fluctuations in financial markets, economic turmoil and contracting margins, according to the Turkish Iron and Steel Producers’ Association (TCUD). In February, Turkey’s crude steel production posted a decrease of 7.3 percent month on month and of 12.2 percent year on […]
During the Chinese New Year holiday (Feb.18-24), prices for 62 percent Fe content iron ore for China have moved on a stable trend at $63-64/mt CFR Qingdao port, since Chinese steel producers have been on their vacation. Global steel markets have been wondering how iron ore and steel prices would be revised and determine the […]
When Mario Longhi took the helm of US Steel in 2013, his vision for the company—which was once the largest steel producer in the world—involved modernizing, streamlining, and most significantly, downsizing. Plant closures and layoffs have defined Longhi’s tenure, with four facility shut-downs announced this month alone. But aside from the temporary idling of two […]
This week November scrap numbers posted down as expected. Chicago posted down $30/Ton at $325 from $355. This move was generally expected as the market had predicted a $20-$40/ton in late October. As such, most major cities followed a similar trend. Looking ahead in scrap, as the weather worsens, typically scrap is more difficult to […]
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.
ecent events must have reinforced your doomsday scenario, Mr. Gloom. First we had (and still have) turmoil in the Middle East, which caused crude oil prices to skyrocket yet again and slowly approach 2008 levels. The massive earthquake/tsunami in Japan has put the world’s third largest economy on ice for the time being.