Source: xml.newsisfree.com/feeds/21/2221.xml
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Republic Engineered Products Inc., Akron, Ohio, has slated bar product base price increases for September, though buyers say the end-user markets are mixed this summer even as customers? inventories remain low and volume is off by as much as 20 percent for some.
Plate pricing in the Pacific Northwest has become more competitive as the region?s only producer, which has been significantly higher than other mills for much of this year, recently narrowed the gap.
With the recent softening of aluminum prices, a relatively small number of customers have already signed 2009 contracts?well ahead of the traditional mating season start in September, according to market sources.
Score another one for aluminum in the perennial battle for market share in the automotive metals arena.
The United Steelworkers union said Monday it had broken off contract talks with ArcelorMittal USA Inc., Chicago, though industry sources said they don?t believe the break in talks will result in a strike.
Recent moves in Iran by Russian steelmaker OAO Magnitogorsk Iron & Steel Works (MMK) and India?s Essar Global Ltd. are prompting concern at both the U.S. Treasury and State departments and could complicate the companies? plans for steel investments in the United States, sources said.
After reporting a $900,000 net loss in the second quarter, Aleris International Inc. said it expects to post improved results in the last half of the year despite a difficult business environment.
China?s steel product exports rose to a record 7.21 million tonnes in July, a sharp turnaround from a decline logged the previous month, driven by higher international prices and the delay of some June shipments due to stricter government inspections.
Recent comments from John P. Surma, chairman and chief executive officer of U.S. Steel Corp., about the company?s plans for its tubular business have sparked speculation about prospects for further consolidation in the sector.
A nickel-based superalloy used in replacement turbine blades for military aircraft is at the center of a $52.3-million fine imposed on jet engine builder Pratt & Whitney (P&W) and aerospace components manufacturer Precision Castparts Corp. over allegations that they sold defective equipment to military aircraft.
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