Peerless Steel Newsletter

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August, 2010
After July Dip, U.S. Ferrous Scrap Prices Rise
Obsolete ferrous scrap rises have risen as much as $30/ton in August – driven by stronger port sales and tight supply of demolition scrap and junked automobiles. These increases on the tails of July's domestic scrap surcharge dropping 2.5 cents per pound. Prices appeared to be settled a week ago, but competion between break bulk shippers and overseas traders buying containers has been intense... (More)

Metal Producers See July Growth
Metal producers saw growth in July in the most recent ISM report. Despite a slight dip in the Purchasing Manager’s Index (PMI), economic activity in the manufacturing sector expanded for the 12th straight month and the overall economy improved for the 15th straight month. The inventories index climbed as well, many believing it is growing to keep up with improved demand... (More)

Timken Sees Boost From Steel Sales
Timken Co. expects an increase in steel sales to help offset costs incurred from maintenance outages and bringing back laid off employees. Steel group sales are expected to be up 70-80% this year due to increased demand in all sectors and the ability to collect raw material surcharges... (More)

AK Steel Says No Bouble Dip in Sight
AK Steel Corp sees no double dip recession for the U.S. economy in the near future despite them criticizing Thyssen Krupp’s opening of a production facility in Alabama. They question the strategy of adding capacity to a market that is still rebounding from a recession... (More)

Earlier Newsletters

July, 2010
June, 2010
May, 2010
April, 2010
March, 2010
February, 2010
January, 2010
December, 2009
November, 2009
October, 2009
September, 2009
August, 2009
July, 2009
June, 2009