From AMMDaily Sat, Jul 19, 2008RSS

Drowning in inventories? South Korea, Taiwan and Turkey are showing little interest in buying unless offering prices are lowered significantly. “But they will be back,” says one trader.

Export demand ‘pause’ sinks ferrous scrap tags

Offshore demand for ferrous scrap, one of the driving forces of soaring ferrous scrap prices both in the United States and throughout the world, has weakened in the past week.

Nucor buying equipment for proposed La. facility

Nucor Corp., Charlotte, N.C., may or may not build a 3-million-ton-per-year blast furnace in Louisiana—but it is beginning to line up equipment for the project.

WTO rules against China in automobile parts case

The World Trade Organization (WTO) ruled Friday that Chinese import tariffs on automobile parts from the United States, among other countries, violates WTO rules.

Chinese OCTG maker planning US market play

WSP Holdings Ltd., China’s third-largest producer of oil country tubular goods (OCTG), plans to establish a manufacturing facility and sales office for the product in Houston.

Harbinger files SEC opposition to buy by Cliffs

Cleveland-Cliffs Inc.’s largest shareholder is opposing the iron and metallurgical coal miner’s proposed $10-billion purchase of Alpha Natural Resources Inc.

Magnesium -9.21%
No. 2 bundles -7.69%
Nickel, scrap -6.38%
Silver -4.12%
Platinum -2.92%
Aluminum -2.76%
Cobalt -2.48%
Natural gas +0.31%
Zinc - LME:AM +0.47%
Lead +0.96%
From 07/18/2008
AMMEvents
SSS08

Steel Success Strategies XXIII

June 23 - 25, 2008
Sheraton New York Hotel & Towers
New York, NY

auto

3nd Annual Automotive Metals Conference

October 28-30, 2008
Marriott Detroit at the Renaissance Center
Detroit, MI

scrap

2nd Annual Scrap Conference

November 10-12, 2008
Hyatt Regency Gainey Ranch Resort
Scottsdale, AZ

July 2008

Steel stands tall and likes what it sees

The prospects for American mills have been upbeat before, but never like this. Is the industry in the early stages of a long-term bull run?