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.
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 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.
The World Trade Organization (WTO) ruled Friday that Chinese import tariffs on automobile parts from the United States, among other countries, violates WTO rules.
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.
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% |
October 28-30, 2008
Marriott Detroit at the Renaissance Center
Detroit, MI
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?
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