Thursday, March 27, 2008
STEEL PRICES DRIVEN UP BY RISING INPUT COSTS AND LIMITED SUPPLY
MEPS INTERNATIONAL
Since it was announced that iron ore prices would rise by 65 percent, Chinese mills have sought to lift steel values quite substantially. Japanese producers have tabled advances of ¥20,000 per tonne for April deliveries and may even adjust prices further in the third trimester. Market values have already strengthened considerably in the wake of the announcements, amidst tight supply caused in part by buoyant demand from the auto makers.
Since it was announced that iron ore prices would rise by 65 percent, Chinese mills have sought to lift steel values quite substantially. Japanese producers have tabled advances of ¥20,000 per tonne for April deliveries and may even adjust prices further in the third trimester. Market values have already strengthened considerably in the wake of the announcements, amidst tight supply caused in part by buoyant demand from the auto makers.
Tuesday, March 04, 2008
Italians seize 30 tons of radioactive steel
This usage of the word "accident" raises more questions than it answers. How do you accidentally mix steel with cobalt-60?
USATODAY.com
Italian police said Monday they have seized 30 tons of Chinese-made steel that had been contaminated by a radioactive substance.
[...]
The steel had been accidentally mixed during production with cobalt-60
USATODAY.com
Italian police said Monday they have seized 30 tons of Chinese-made steel that had been contaminated by a radioactive substance.
[...]
The steel had been accidentally mixed during production with cobalt-60
Sunday, March 02, 2008
Ship built with WTC steel christened
I've talked about this story before (click the WTC link below), but now it's been properly christened and launched.
Yahoo! News
The USS New York, an amphibious assault ship built with scrap steel from the ruins of the World Trade Center, was christened Saturday as a source of strength and inspiration for the nation.
Yahoo! News
The USS New York, an amphibious assault ship built with scrap steel from the ruins of the World Trade Center, was christened Saturday as a source of strength and inspiration for the nation.
Saturday, March 01, 2008
Steel pipe factory breaks ground
ContraCostaTimes.com
PITTSBURG -- Business executives and city leaders officially launched a new steel pipe factory Friday that is being designed to tap into the fast-rising demand for energy in the United States.
The $137 million United Spiral Pipe plant in Pittsburg will produce big steel pipes that are ideally suited for transporting oil and natural gas. The project is a joint venture of U.S. Steel Corp. and two South Korean companies, POSCO and SeAH Steel Corp.
PITTSBURG -- Business executives and city leaders officially launched a new steel pipe factory Friday that is being designed to tap into the fast-rising demand for energy in the United States.
The $137 million United Spiral Pipe plant in Pittsburg will produce big steel pipes that are ideally suited for transporting oil and natural gas. The project is a joint venture of U.S. Steel Corp. and two South Korean companies, POSCO and SeAH Steel Corp.
Labels: steel
Steel Prices May Rise Despite Declining Demand
Tampa Bay Online (tbo.com)
Businesses that use steel for construction and other projects will continue to face high prices during the first half of 2008, despite a continued decline in housing and automobile demand that theoretically should begin to bring prices down.
That was the general consensus among steel industry and government trade officials who spoke Friday at the 19th annual Tampa Steel Conference, which drew more than 400 participants to the Tampa Marriott Waterside.
The price for a ton of cold-rolled steel coil, which now is about $752 in North America, could rise to $900 by April or May, said Tom Stundza, executive editor of the trade journal Purchasing Magazine. However, conference participants expected the high prices would begin to abate by midsummer or soon thereafter.
Businesses that use steel for construction and other projects will continue to face high prices during the first half of 2008, despite a continued decline in housing and automobile demand that theoretically should begin to bring prices down.
That was the general consensus among steel industry and government trade officials who spoke Friday at the 19th annual Tampa Steel Conference, which drew more than 400 participants to the Tampa Marriott Waterside.
The price for a ton of cold-rolled steel coil, which now is about $752 in North America, could rise to $900 by April or May, said Tom Stundza, executive editor of the trade journal Purchasing Magazine. However, conference participants expected the high prices would begin to abate by midsummer or soon thereafter.
Labels: steel
Codelco Copper Output Falls for Third Year
This would go some distance towards explaining why copper inventories are so tight and prices so high. Hopefully the new mine in 2008 will bring some stability to the copper market.
Bloomberg.com
Chile's state-owned Codelco, the world's largest copper producer, said output fell 6.6 percent last year, the third straight annual drop, because of aging mines and labor protests.
Production dropped to 1.67 million metric tons from 1.78 million tons in 2006, Santiago-based Codelco said in a statement. A strike in June and July curbed output, and the amount of copper in the rock at mines declined.
Global stockpiles of the metal have tumbled this year, and copper prices have climbed 27 percent. Production will rise in 2008 with the opening of a new mine, Codelco Executive President Jose Pablo Arellano said at a news conference.
Bloomberg.com
Chile's state-owned Codelco, the world's largest copper producer, said output fell 6.6 percent last year, the third straight annual drop, because of aging mines and labor protests.
Production dropped to 1.67 million metric tons from 1.78 million tons in 2006, Santiago-based Codelco said in a statement. A strike in June and July curbed output, and the amount of copper in the rock at mines declined.
Global stockpiles of the metal have tumbled this year, and copper prices have climbed 27 percent. Production will rise in 2008 with the opening of a new mine, Codelco Executive President Jose Pablo Arellano said at a news conference.
Labels: Copper
