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North America

All the latest headlines from NAFTA trading partners: the U.S., Canada and Mexico.

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Stelco Creditor Meetings Adjourned Again

22 November 2005 - Stelco Inc. announced that the meeting of its creditors has been further adjourned until Wednesday, November 23, 2005. Meetings of creditors of Stelco’s subsidiaries will also be adjourned to the same date.

AK Steel Announces December Surcharges

18 November 2005 - AK Steel will add a $228 per ton surcharge to invoices for flat-rolled carbon steel products shipped in December 2005. The company will also add a $330 per ton surcharge to invoices for electrical steel products shipped in the same period.

California Steel Avoids Penalty with Disclosure to EPA

18 November 2005 - California Steel Industries, Inc. was one of thirteen companies recently recognized by the U.S. EPA's Pacific Southwest Office for voluntarily disclosing and quickly correcting their federal Emergency Planning and Community-Right-to-Know Act violations.

WCI Steel Noteholders and USW Reach Agreement

18 November 2005 - WCI Steel could emerge from chapter 11 bankruptcy proceedings based on the tentative agreement reached between representatives of the secured noteholders of WCI Steel and the United Steelworkers. The tentative agreement addresses a proposed collective bargaining agreement and modifications to the plan of reorganization.

Stelco Court Monitor Files 39th Report

17 November 2005 - Stelco Inc.’s Court-appointed Monitor has filed its thirty-ninth report regarding the company's Court-supervised restructuring.

Quanex CFO to Leave at End of 2005

16 November 2005 - Quanex Corp. announced that Terry M. Murphy, Senior Vice President--Finance and Chief Financial Officer, has decided to leave Quanex on December 31, 2005, to accept a position at another NYSE listed company.

Tentative Deal Reached in Ipsco Labor Negotiations

16 November 2005 - Ipsco Inc. and United Steelworkers Locals 5890 and 6673 have reached a tentative agreement for early renewal of their collective agreements.

Bayou Steel to Upsize Line of Credit

15 November 2005 - Bayou Steel Corp. is amending and restating its line of credit from $45 million to $75 million. The newly amended line will also provide lower borrowing rates, higher advance rates, and a nearly four year extension of the current arrangement.

Commercial Metals Acquires Norfolk Rebar Fabricator

15 November 2005 - Commercial Metals Co. announced the acquisition of substantially all operating assets of Norfolk, Va., reinforcing steel fabricator Hall-Hodges Company.

Stelco Unions Target Restructuring as One Company

15 November 2005 - Stelco local unions recently endorsed a set of seven principles that they will use to evaluate any plan to restructure Stelco. At their meeting, the unions agreed that Stelco must be restructured as one company, not sold off in parts.

Worthington Industries Forms Dietrich Construction Group

11 November 2005 - Worthington Industries announced the formation of Dietrich Construction Group to advance the use of light gauge steel framing in the construction marketplace.

Mittal Steel Proposes to Refund Outstanding Revenue Bonds

11 November 2005 - Mittal Steel Co. NV has proposed the refunding of some or all of the following outstanding revenue bonds:

Domestic Wire Rod Producers File Unfair Trade Cases Filed

11 November 2005 - Five domestic producers of carbon and alloy steel wire rod have filed antidumping duty petitions charging that dumped wire rod imports from P.R. China, Germany and Turkey cause material injury to the domestic industry. The petitioners allege antidumping margins of 330% for P.R. China, 42 to 82% for Germany, and 31 to 78% for Turkey.

Stelco Reports 3rd Quarter Loss

11 November 2005 - Stelco Inc. reported a net loss of $42 million on net sales revenue of $725 million for the quarter and net earnings of $47 million on sales revenue of $2.462 billion for the nine months ended September 30, 2005.

Danieli to Upgrade Republic EAF

10 November 2005 - Danieli is conducting a major upgrade of Republic Engineered Products’ 200-ton EAF at the company’s Canton, Ohio, facility.

FeMET Initiative Awards Curriculum Development Grants

10 November 2005 - The American Iron and Steel Institute (AISI) and the Association for Iron and Steel Technology Foundation’s FeMET Initiative has awarded its curriculum development grants for the 2005-2006 school year. Four university professors have been awarded an initial $5,000 each to fund proposals designed to enhance or update industry curriculum in ferrous metallurgy programs.

EPA Applauds Sterling for Northwestern Steel & Wire Brownfield Projects

09 November 2005 - U.S. Environmental Protection Agency Regional Administrator Thomas V. Skinner recently presented the City of Sterling, Ill., with a certificate of appreciation for outstanding brownfields work at the site of the former Northwestern Steel and Wire. The recognition for commitment to excellence came as part of this year's National Brownfields Conference in Denver.

Siemens to Supply Ladle Met Facility to Sheffield Steel

09 November 2005 - Sheffield Steel Corp. has awarded the Siemens Group Industrial Solutions and Services (I&S) a contract for a new 85-ton ladle furnace.

Wheeling-Pittsburgh Reports 3rd Quarter Results

09 November 2005 - Wheeling-Pittsburgh Corp., the holding company of Wheeling-Pittsburgh Steel Corp., reported a net loss of $21.1 million on revenues of $374.9 million for the quarter ended September 30, 2005.

ITC to Uphold Duty Orders for Cut-to-Length Plate from Five Countries

09 November 2005 - The U.S. International Trade Commission (ITC) will uphold existing antidumping and countervailing duty orders on cut-to-length carbon steel plate imports from India, Indonesia, Italy, and Korea, as well as an antidumping duty order on cut-to-length carbon steel plate imports from Japan. However, an existing antidumping duty order on cut-to-length carbon steel plate imports from France will be revoked.

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