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North America

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

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Steel Imports Substantially Higher Through First Four Months

26 May 2004 - Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that April imports of steel into the United States were 0.3% higher than March, with finished steel imports up 5.7% compared to March. Year-to-date total and finished steel imports are up 11.1 and 9.7 percent, respectively, compared to the same period last year.

ATI Allegheny Ludlum to Increase Stainless Prices

06 May 2004 -  

Timken to Increase Steel Bar Prices

04 May 2004 -  

Northwest Pipe Reports 1st Quarter Results

28 April 2004 -  

Carpenter Technology Reports 3rd Quarter Results

27 April 2004 -  

Nucor Reports Record 1st Quarter Results

23 April 2004 -  

Universal Stainless Reports 1st Quarter Results

22 April 2004 -  

Allegheny Technologies Reports 1st Quarter Results

22 April 2004 -  

Cliffs Announces Management Changes

21 April 2004 -  

AK Steel Reports 1st Quarter Results

21 April 2004 -  

WCI Steel Files Plan of Reorganization

21 April 2004 -  

Steel Dynamics Reports Strong 1st Quarter Results

21 April 2004 - Steel Dynamics, Inc. reported first quarter 2005 earnings of $61 million on net sales of $571 million.

Northwest Pipe Announces Major Order

14 April 2004 -  

California Steel Reports 1st Quarter Results

14 April 2004 -  

Schnitzer Steel Reports Record Quarterly Earnings

02 April 2004 - Schnitzer Steel Industries, Inc. reported net income of $18.5 million on revenues of $161.6 million for the second fiscal quarter ended February 29, 2004.

Schnitzer Steel Second Quarter Segment Details

02 April 2004 - Metals Recycling Business—Schnitzer Steel’s wholly owned Metals Recycling Business reported operating income of $13.2 million in the second quarter of fiscal 2004, an improvement of $4.7 million (55%) over the same quarter last year. Operating income divided by ferrous tons sold averaged $26 per ton in the second quarter of fiscal 2004, which compares to $15 per ton and $24 per ton in the second quarter of fiscal 2003 and the first quarter of fiscal 2004, respectively. The improved operating margins were primarily driven by higher average selling prices, which rose by 42% and 13%, over the second quarter of fiscal 2003 and the first quarter of 2004, respectively. Overall, market selling prices rose rapidly in the second fiscal quarter due primarily to the strength in demand from domestic steel manufacturers who saw their finished product order backlog and prices grow. Fiscal 2004 second quarter average domestic selling prices actually increased at a greater rate than our average export selling prices, which was primarily caused by the timing of when orders are received and shipped. Export orders are typically received 60-90 days ahead of shipment, whereas domestic sales are typically shipped within 30 days of order.

AK Steel Coke Plant to Receive 4th Consecutive Safety Award

26 March 2004 - AK Steel’s Middletown, Ohio, coke plant has again been selected to receive the Max Eward Safety Award from the American Coke and Coal Chemicals Institute (ACCCI). The award recognizes the ACCCI-member coke plant with the best safety record during 2003. Employees at the Middletown coke plant have worked for four years in a row with a record of zero lost-time injuries.

VA Tech Division Analysis for 2003

25 March 2004 - The Power Generation Division (VA Tech HYDRO) remained stable and again reported improved key figures. In Europe, development of combined cycle power plants profited from alternative investments (decommissioned power plants) and from a renewed demand for additional capacity. Hydropower as a renewable source of energy was able to maintain its leading position and also plays an important role in the climate protection goals of Kyoto. This led to an increase of the order intake amounting to almost 4% from EUR 1,011 m in 2002 to EUR 1,049 m in 2003 and for an EBIT improvement to EUR 58.1 m from EUR 56.5 m in 2003. Net liquidity and cash flow are also at a high level.

Settlement Reached in U.S. Steel Kosice Production Cap Dispute

20 March 2004 - United States Steel Corp. confirmed an announcement by Slovak Prime Minister Mikulas Dzurinda and EU Commissioner for Enlargement Guenter Verheugen that an agreement had been reached resolving a dispute regarding the effective date of limitations upon the production of flat-rolled products at U. S. Steel's Kosice, Slovakia, subsidiary.

Nucor Revises First Quarter Earnings Outlook

19 March 2004 - Strong pricing across all product ines accompanied by increased demand and decreased pre-operating and start-up costs have led to increased the earnings expectations for Nucor’s first quarter ended April 3, 2004.

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