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Industry News...
U.S. "Cap And Trade" Rebranded "Pollution Reduction"
03/10/2010- WASHINGTON - Like a savvy Madison Avenue advertising team, senators pushing climate-control legislation have decided to scrap the name "cap and trade" and rebrand their product as "pollution reduction targets."
CSI Says It's Positioned For 'Improving Market Conditions'
03/10/2010- California Steel Industries CEO Vicente Wright says the west coast flats and pipe producer is positioned "to meet improving market conditions as they occur" in the US this year.
Severstal To Increase Capital Spending As Steel Springs Back
03/10/2010- Severstal plans to boost capital spending this year by 40 per cent as Russia's biggest steelmaker attempts to improve its competitive position as global demand for the commodity picks up.
Sector Snap: Steel Prices To Rise, Analyst Says
03/09/2010- NEW YORK - Rising steel prices, driven by climbing raw material costs, will benefit vertically integrated steel makers such as United States Steel Corp., said a Goldman Sachs analyst on Monday as he upgraded the company's stock.
North American Steelmakers Seek Action On Chinese Currency
03/09/2010- PITTSBURGH - China's alleged currency manipulation has long stuck in the craw of North American steelmakers, who once again are stepping up efforts to have Congress address the issue.
California Steel Industries Reports Fourth Quarter And Full Year 2009 Results
03/09/2010- FONTANA, Calif. - California Steel Industries, Inc. ("CSI") today reported fourth quarter and full year results for the period ended December 31, 2009. The net loss for fourth quarter 2009 is $2.3 million, compared with a net loss of $76.1 million in fourth quarter 2008.
Lawmakers Move To Restrain EPA On Climate Change
03/05/2010- As climate change legislation stalled in the Senate, the Obama administration noted that it had a workable -- although admittedly unwieldy -- Plan B. If Congress wouldn't cap U.S. emissions, officials said, the Environmental Protection Agency would do it instead.
Will Steel Demand Rise In 2010?
03/05/2010- Steel demand recovery to limp on. According to a number of major steelmakers, steel demand recovery will be slow during the early months of 2010. ArcelorMittal said in presenting its worse than expected Q4 2009 results that Q1 2010 would be tough, with only “slow recovery underway,” and rising costs.
U.S. Steel Sees Improvement In Demand, Keeps Cautious Outlook
03/05/2010- United States Steel Corp. continued to caution investors about its first quarter outlook last week as the company said in a regulatory filing that while order rates are improving, significant challenges remained in the market.
Graham's Cap-And-Trade Pronouncement Reframes Hill Debate
03/04/2010- Is cap and trade really "dead"?
Nucor Eyeing Growth Opportunities In Mexico, Latin America
03/04/2010- After previously announcing plans for a greenfield flatrolled processing center in Monterrey, Mexico, Nucor apparently is intensifying its focus on Latin America.
Senators Press Obama Trade Chief On China Concerns
03/04/2010- WASHINGTON - U.S. senators pressed President Barack Obama's top trade official on Wednesday for action on a number of Chinese trade issues they said have endangered U.S. consumers and jobs.
U.S. Steel Industry Recovery Tied To Autos, Housing
03/03/2010- SCOTTSDALE, Arizona - Guarded optimism surrounds expectations for a 2012 recovery in the U.S. steel industry, as much will depend on how firm the recoveries are in the construction and automotive sectors of the economy.
EPA Carbon Rules Would Be Blocked By Lawmakers’ Plans
03/03/2010- Top House Republicans introduced a measure to block President Barack Obama from regulating greenhouse gases, as Democratic Senator Jay Rockefeller sought a two-year delay on action by the Environmental Protection Agency.
Senator Graham Calls Cap-And-Trade Plan Dead
03/03/2010- WASHINGTON - The idea of imposing a broad cap-and-trade system to cut America's greenhouse gas emissions is dead and will be replaced with a new approach, an influential Republican senator said Tuesday.
U.S. Needs A ‘Manufacturing Policy’ To Compete Globally, Senators Say
03/03/2010- A group of senators is pressing President Obama to adopt a “manufacturing policy,” evidence of increasing anxiety among a wide range of lawmakers about the United States’ competitive position in the global economy.
Nucor To Form Joint Venture With Mitsui
03/03/2010- CHARLOTTE, N.C. - Nucor Corporation announced today that it has entered into an agreement with Mitsui & Co. (U.S.A.), Inc. ("Mitsui"), a wholly owned subsidiary of Mitsui & Co., Ltd., wherein each would indirectly own a 50% interest in a newly created company, NuMit LLC. NuMit will invest in various steel and steel related activities, both in North America and globally.
AISI: US EPA Emissions Delay Leaves 'Questions Unresolved'
03/02/2010- A high-profile steel trade group has blasted the US Environmental Protection Agency's (EPA) decision last week to delay addressing certain greenhouse gas (GHG) emissions until 2011.
Nucor Announces Ocala Recycling Acquisition By The David J. Joseph Company
03/02/2010- CHARLOTTE - Nucor Corporation (NYSE: NUE) announced today that its wholly owned subsidiary, The David J. Joseph Company ("DJJ"), has acquired the assets and business of Ocala Recycling LLC, currently a subsidiary of Blaze Metals LLC.
Senators Seen Ditching Cap And Trade In New Bill
03/01/2010- WASHINGTON - Three senators are seeking to radically overhaul stalled climate legislation by proposing to dump broad cap-and-trade provisions and take a sector by sector approach to cutting greenhouse gas emissions, a White House official and leading U.S. newspaper reported.
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