December 2010

(AMM) US raw steel production declines 2.9%

U.S. raw steel output totaled 1,648,000 net tons last week as mills operated at an average capability utilization rate of 68.1 percent, down 2.9 percent from 1,697,000 tons the previous week.

***REVISITED: US steel sector falls out over Anshan-SDC jv

Anshan Iron and Steel Group’s investment in Steel Development Company (SDC) wasn’t the first time a Chinese company had taken a stake in a US steelmaker

Malaysia's Ann Joo delays blast furnace launch again

Malaysia's Ann Joo Resources has delayed the commissioning of its 500,000 tpy blast furnace for the fifth time, as it completes the “last stages of fine tuning”, a company official said.

***REVISITED — Mission: Control

2010 was not a big year for steel mergers and acquisitions. Many company valuations sank to all-time lows, so most businesses battened down the hatches and concentrated on the fight to survive in a volatile market. But the Ukrainian steelmaking sector was one glaring exception.

***NOTES FROM 2010: New wave – the game starts to change

Things are looking up for the steel industry. But as mills emerge blinking from the dark days of recession, they face a different world.

Fatal accident forces FMG to suspend Cloudbreak operations

Fortescue Metals Group has suspended operations at its Cloudbreak mine after a worker was killed in an accident.

(AMM) Pricing volatility renews spark for steel futures market in US

The rapid run-up in U.S. steel pricing has some steel buyers seeking shelter from the storm, which they might find in a renewed call for the employment of steel futures.

***DAILY SCRAP REPORT: Index surges as reports of new cargo bookings stun market

MB’s Ferrous Scrap Index cfr Turkey shot up to $476.68 per tonne cfr Iskenderun on an HMS 1&2 (80:20) basis on Thursday after the market was stunned by reports of two unconfirmed cargoes booked at much higher prices.

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Iran applies taxes to exports of iron ore concentrate and pellets

The Iranian government has introduced taxes on export shipments of iron ore concentrate and iron ore pellet in a bid to control rising exports.