August 2012

Brazilian pig iron producers expect prices to fall after iron ore collapse

Merchant pig iron makers in Brazil are expecting export prices to fall over the next few weeks following the collapse in iron ore prices, sources told Steel First.

Evraz reports $50m H1 2012 loss despite robust North American demand

Evraz Plc’s North American operations accounted for an increasing share of the company’s revenue during the first half of 2012, but the steelmaker made a loss on weaker steel prices and an uncertain global economy.

No labour deal yet from ArcelorMittal USA, USW

ArcelorMittal USA and the United Steelworkers (USW) union remain in “conflict” with just hours left before the scheduled expiration of a labour agreement on September 1.

No strike action from USW in ArcelorMittal USA dispute

The United Steelworkers (USW) union’s negotiating committee will not pursue strike action as its negotiations with ArcelorMittal USA continue, it said.

RG Steel asset sales facing time pressures

Pressure is mounting to finalize the sales of a number of RG Steel LLC’s assets that remain unsettled.

US OCTG margins narrow, oversupply fears grow

US oil country tubular goods (OCTG) distributors and traders are concerned about high inventory levels as US drilling activity shows signs of slowing, with prices largely remaining flat in August.

US West Coast containerised ferrous scrap prices fall by $10 per tonne

US West Coast export prices for containerized ferrous scrap have declined by $10 per tonne this week, encouraging at least one major exporter to lower buying prices at its yards effective Friday, August 31.

European 18/8 stainless solids import prices rise on costlier nickel

Import prices for European stainless steel scrap solids have risen by €50 ($63) per tonne this week, tracking a weekly rise in nickel prices, market sources told Steel First on Friday August 31.

Brazil’s Mangels signs deal to sell galvanizing business

Mangels Industrial, a Brazilian flat steel re-roller and manufacturer of wheels and cylinders, has signed a contract to sell its galvanizing business to Armco Staco.