Steel News

Updated Study Details Unfair Trade Advantages for China’s Stainless Industry

24 August 2007 - A report released by the Specialty Steel Industry of North America alleges that the government of China has spent the past decade breaking international trade rules with its policy of conferring preferred status on the stainless steel industry, and providing it with a wide range of preferential treatment programs and direct subsidies.

Stockholders Re-Elect All 11 Incumbent Ryerson Directors

24 August 2007 - Stockholders at Ryerson’s 2007 Annual Meeting of Stockholders re-elect all 11 Ryerson director nominees to the company’s Board of Directors.

Timken Upgrades Repair Services in Canada

23 August 2007 - Timken completes an agreement with Weir Canada to be the authorized provider of Timken repair services for chock bearing maintenance and chock repair for metal manufacturing customers in Canada.

AK Steel Announces Carbon Steel Price Increase

23 August 2007 - AK Steel will increase spot market prices by $30 per ton for new carbon steel product orders accepted for shipment on October 1, 2007 and later.

Commerce Department Announces Launch of Nafta Steel Monitor

23 August 2007 - The Department of Commerce announces the launch of the North American Steel Trade Committee’s NAFTA Steel Monitor, a website that provides online public access to consolidated steel trade data from the United States, Canada, and Mexico.

Chrysler, Daimler and AISI Team up to Optimize Future Vehicle Structures

23 August 2007 - AISI, Chrysler and Daimler work together on the application of advanced steel and manufacturing technologies to future vehicles, leading to the development of steel-intensive solutions and a design with enhanced fuel economy and improved structure.

Reliance Purchases Shares of its Common Stock

22 August 2007 - Reliance Steel & Aluminum has been actively repurchasing shares of its own common stock in the open market under the company's Stock Repurchase Plan.

Homeowners Prefer Steel in Face of Potential Hurricane

22 August 2007 - Asked what construction material they would prefer for framing their house if living in an area prone to hurricanes, 69% percent of homeowners said they preferred steel as their material of choice.

U.S., Canada and Mexico Take Lead on Managing Industrial Chemicals

22 August 2007 - The United States, Canada, and Mexico are developing a regional partnership to assess and manage the potential risks associated with the manufacture and use of industrial chemicals.

Worthington to Form European Steel Processing Joint Venture

21 August 2007 - Worthington Steel will form a joint venture with The Magnetto Group to operate a steel processing facility in Kosice, Slovakia.

Standard & Poor’s to Move Cliffs on the U.S. Indices

21 August 2007 - Standard & Poor's announced that Cleveland Cliffs Inc. will replace Ohio Casualty Corp. in the S&P MidCap 400, GICS Steel Sub-Industry index.

Worthington to Form Mexican Steel Processing Joint Venture

21 August 2007 - Worthington Steel signs agreement to acquire a 50% interest in privately held Serviacero Planos, which will own and operate existing service centers in Leon and Queretaro in central Mexico.

June Steel Shipments Slip Below May Totals

21 August 2007 - U.S. steel mills shipped 8,920,000 net tons in June 2007, according to the latest report from the American Iron and Steel Institute.

IISI Reports World Crude Steel Production for July 2007

21 August 2007 - World crude steel production for the 67 countries reporting to the International Iron and Steel Institute stood at an estimated 109.9 million tonnes in July — 5.3% higher than for the same month of 2006, but a drop of 1.1% from the previous month. Excluding China, world production fell by 0.5% compared to the previous month, and grew by just 0.5% compared to July 2006.

Cleveland-Cliffs Enters New Credit Agreement

20 August 2007 - Cleveland-Cliffs enters into a new unsecured, $800-million credit agreement that provides more-flexible terms and conditions, along with improved pricing.

U.S. Steel Announces OCTG Authorized Distributors

20 August 2007 - United States Steel announces its new oil country goods distribution network for the United States following its acquisition of Lone Star Technologies earlier this year.

AltaSteel Workers Ratify Agreement with Scaw Metals

20 August 2007 - Members of United Steelworkers' Local 5220 ratify a new collective agreement with AltaSteel Ltd. - the first agreement reached with South-Africa-based parent company, Scaw Metals Group.

Woodside Capital Completes Acquisition Hamilton Specialty Bar Assets

20 August 2007 - Woodside Capital has successfully purchased the assets of Hamilton Specialty Bar in a deal led by Woodside Capital, Pinnacle Steel, and Sankaty Advisors.

Wheeling-Pittsburgh Nears Deal to Refinance Existing Credit Facilities

20 August 2007 - Wheeling-Pittsburgh reaches agreement in principle with its lead banks on the terms of a $350-million revolving credit facility to replace its current $225-million facility, and a new $135-million term loan to replace its existing government guaranteed term loan.

Precoat Metals Commits to Reduce Waste and Chemical Use

17 August 2007 - The U.S. Environmental Protection Agency’s mid-Atlantic region recognized Pa.-based Precoat Metals for committing to reduce waste and manufacture more environmentally-sound products.