WSJ- Steelmakers Dive Into Junk Business to Feed New Mills wsj.com/articles/steelmak…
πŸ‘︎ 48
πŸ’¬︎
πŸ‘€︎ u/apooptosis
πŸ“…︎ Jan 03 2022
🚨︎ report
Steelmaker Hoa Sen’s chairman to become Buddhist monk in 2026

Hoa Sen Group founder and chairman Le Phuoc Vu has said he will remain involved with the operations of the steel giant until he enters monastic life in 2026.

πŸ‘︎ 3
πŸ’¬︎
πŸ‘€︎ u/Born-Sweet7958
πŸ“…︎ Dec 31 2021
🚨︎ report
Fine dust from the steelmaker in Taranto, Italy

This is the murderous reality in the Italian city of Taranto. This is a perpetual massacre, the maximum representation of capitalism, people die and fall ill every year due to this shitty fine dust from the steelmaker that we breath every single second of our lives here.

https://preview.redd.it/rx2t1993a5481.png?width=630&format=png&auto=webp&s=7fc14e14847176b8129953478d64f58d33895eb9

https://preview.redd.it/25wxvn10a5481.png?width=1280&format=png&auto=webp&s=7447c1871ce31f49d6f6eea9ba6c20d8837822e2

https://preview.redd.it/obb75f19a5481.png?width=453&format=png&auto=webp&s=0c61915ac89c525331ab49511c5ea02bb05c346e

πŸ‘︎ 33
πŸ’¬︎
πŸ‘€︎ u/GianbaT0
πŸ“…︎ Dec 07 2021
🚨︎ report
Steel prices could trend β€˜much higher’ compared to the last 10 years, major Indian steelmaker says. cnbc.com/2021/11/22/steel…
πŸ‘︎ 41
πŸ’¬︎
πŸ‘€︎ u/tdtwedt
πŸ“…︎ Nov 22 2021
🚨︎ report
Top U.S. steelmaker sees prices easing, urges policymakers to keep curbs on imports (Reuters)

Oct 13 (Reuters) - Steel prices, driven to nosebleed highs by surging demand, should start to "erode" by the first part of next year as COVID-related supply bottlenecks ease and new domestic production comes online, said Mark Millett, the chief executive of the fourth-largest U.S. steelmaker, Steel Dynamics Inc. ( STLD)

But the long-term health of the U.S. industry depends on avoiding a surge of imports, which have driven the downside of past boom-and-bust cycles for steelmakers, he added.

"We're starting to see inventories rebuild a little and we're starting to see import volumes pick up a little - so it would be natural to see pricing turn over" in the first part of 2022, said Millett, who also chairs the Steel Manufacturers Association, the industry's main trade voice in Washington.

Demand for all types of metal plunged early in the pandemic but then recovered far faster and rose to higher levels than anyone expected. Now the focus is shifting to the Biden administration's ambitious infrastructure plan, which would require large amounts of steel for construction projects and machinery, and create another boon for domestic producers, assuming the metal was purchased from domestic mills.

Millett said high steel prices shouldn't hinder the government infrastructure plan. "Once an infrastructure bill passes, you don't suddenly see trillion-dollar projects arrive on your doorstep," he said. Instead, he predicts at least a year-long "ramp-up" period, which would allow the industry to overcome supply chain disruptions that have magnified shortages and added to pricing pressure.

U.S. producers, including Steel Dynamics ( STLD) and United States Steel ( X), are building new plants that will open over the next two years and the market will need imports in the future, said Millett, noting that historically the United States has imported steel equivalent to about 20% to 22% of domestic demand. The problem is when imports surge far beyond that, he said.

"When it gets up to 27-28%, and when it comes flooding in, that's when pricing gets decimated," said Millett. "The industry can't earn its cost of capital."

That's why the industry is pushing to keep trade barriers in place that have helped insulate the domestic market. The United States is currently negotiating with the European Union over limits on imports of metal from that region's producers.

Millett said the EU hasn't "been a major problem historically" and that he believes the administration is looking

... keep reading on reddit ➑

πŸ‘︎ 28
πŸ’¬︎
πŸ‘€︎ u/jonelson80
πŸ“…︎ Oct 13 2021
🚨︎ report
Nippon Steel sues Toyota, China's Baoshan over patent infringement. Steelmaker also asks Tokyo court to prohibit Toyota from selling EVs asia.nikkei.com/Business/…
πŸ‘︎ 67
πŸ’¬︎
πŸ‘€︎ u/Nitzao_reddit
πŸ“…︎ Oct 14 2021
🚨︎ report
Nel ASA receives purchase order for 20MW alkaline electrolyzer from steelmaker Ovako greencarcongress.com/2021…
πŸ‘︎ 4
πŸ’¬︎
πŸ‘€︎ u/Hypx
πŸ“…︎ Nov 28 2021
🚨︎ report
Indian steelmakers set to gain as China weighs taxes on exports google.com/amp/s/www.live…
πŸ‘︎ 68
πŸ’¬︎
πŸ‘€︎ u/SnooPaintings8503
πŸ“…︎ Jul 19 2021
🚨︎ report
[World] - Steel prices could trend 'much higher' compared to the last 10 years, major Indian steelmaker says | NBC cnbc.com/2021/11/22/steel…
πŸ‘︎ 2
πŸ’¬︎
πŸ“…︎ Nov 22 2021
🚨︎ report
UK Steel says government needs to help steelmakers after energy price spike reuters.com/business/uk-s…
πŸ‘︎ 20
πŸ’¬︎
πŸ‘€︎ u/GreenLeafWest
πŸ“…︎ Oct 12 2021
🚨︎ report
Steelmakers Grapple With How to Cut Carbon Emissions wsj.com/articles/steelmak…
πŸ‘︎ 21
πŸ’¬︎
πŸ‘€︎ u/pedrots1987
πŸ“…︎ Aug 21 2021
🚨︎ report
[World] - Steel prices could trend 'much higher' compared to the last 10 years, major Indian steelmaker says cnbc.com/2021/11/22/steel…
πŸ‘︎ 2
πŸ’¬︎
πŸ‘€︎ u/AutoNewsAdmin
πŸ“…︎ Nov 22 2021
🚨︎ report
Steelmakers Keep Old Plants Idle Despite Surging Prices - see the last sentence

Two of the nation's largest steelmakers are keeping older mills closed, passing up a chance to sell more metal at record prices, because of the high cost of restarting and the threats to their survival from rivals' new plants.

The closures have exacerbated a shortage of steel that is contributing to higher prices for cars, appliances and machinery. United States Steel Corp. and Cleveland-Cliffs Inc. are keeping about seven million tons of production capacity out of service. That is roughly a tenth of domestic consumption in 2019, according to Metal Strategies Inc., an industry consulting firm.

Steel prices, meanwhile, have reached records. Spot-market steel prices have climbed more than 60% since the start of the year to more than $1,600 a ton, according to S&P Global Platts.

U.S. Steel and Cleveland-Cliffs idled those older plants in the months before the coronavirus pandemic began because they expected them to be more expensive to operate than some nine million tons of annual flat-rolled steel capacity that competitors including Nucor Corp. and Steel Dynamics Inc. are building. Even with steel prices at all-time highs, executives and analysts don't expect the costs of starting up the older mills would pay off over time.

"The industry is in transition," said Mark Millett, chief executive of Steel Dynamics, which is building a new mill in Texas. "If you've got ancient assets to compete against new, state-of-the-art facilities, you've got to question whether you bring those back."

Steel-market analysts have said for years that the lower production costs at new mills and the additional steel from them would push down steel prices and pull customers away from older mills that use a more expensive production process and need higher prices to earn a profit. Steel companies also face pressure from regulators and customers to reduce carbon emissions from older plants.

The new mills are still months or years away from operating, but steel demand received an unexpected boost last year from supercharged purchases of cars, appliances and machinery during the pandemic. Supply-chain problems have since drained inventories of steel. Wait times for some deliveries from U.S. producers have stretched up to six months, according to steel users. Some customers said they are receiving partial shipments.

"This is the hardest time in the history of our company to procure metal, " said Jonathan Ulbrich, vice president of Ulbrich Stainless Steels & Special M

... keep reading on reddit ➑

πŸ‘︎ 210
πŸ’¬︎
πŸ‘€︎ u/vitocorlene
πŸ“…︎ Jun 10 2021
🚨︎ report
MEGA CHAD and CLF CEO Laurenco Goncalves to be named "Steelmaker of the Year" this week

Steelmaker of the year Laurenco Goncalves after hitting shorts with The Pedigree

It's going to be a good week for our favorite mega chad CLF CEO Laurenco "LG" Goncalves:

- Monday CLF joins the Russell 1000

- Wednesday LG is awarded steelmaker of the year and gives the keynote address titled β€œAmerican Steel, the Environment and the Next Decade.” (link)

And he's still riding the tailwinds of:

- Moody's rating upgrade (link)

- $39 JPMorgan Price Target (link)

https://preview.redd.it/rz6444xtou771.png?width=1194&format=png&auto=webp&s=4639b8fae8661f5227a174131e24eabc1fe523db

- HRC Steel Futures going absolutely, monumentally, stratospheric:

https://preview.redd.it/9d8kcavuou771.png?width=1178&format=png&auto=webp&s=6d4bd0c757ba40b78d02fc981d535d43529265df

https://preview.redd.it/66h87bvuou771.png?width=1312&format=png&auto=webp&s=ae9965aaa8c63066568102f6c94841d9fd129a21

And let's not forget that INFRASTRUCTURE TALKS ARE GOING WELL

My Positions:

>$60k in options

$30k in Shares in my boomer 401k

πŸ‘︎ 318
πŸ’¬︎
πŸ‘€︎ u/rigatoni-man
πŸ“…︎ Jun 27 2021
🚨︎ report
[Hydrogen Korea] β€˜Hydrogen steel’ is hailed as next big thing. Here’s what’s hype is all about. World’s No. 6 steelmaker Posco aims to go carbon neutral with hydrogen-based steel, but challenges remain koreaherald.com/view.php?…
πŸ‘︎ 4
πŸ’¬︎
πŸ‘€︎ u/chopchopped
πŸ“…︎ Nov 09 2021
🚨︎ report
Steel prices could trend 'much higher' compared to the last 10 years, major Indian steelmaker says cnbc.com/2021/11/22/steel…
πŸ‘︎ 2
πŸ’¬︎
πŸ“…︎ Nov 22 2021
🚨︎ report
Trudeau teases huge project to slash greenhouse gas pollution at Hamilton’s biggest steelmaker thespec.com/news/hamilton…
πŸ‘︎ 70
πŸ’¬︎
πŸ‘€︎ u/_Kinel_
πŸ“…︎ Jul 14 2021
🚨︎ report
Brazil steelmaker Usiminas reports 60% net income drop nasdaq.com/articles/brazi…
πŸ‘︎ 2
πŸ’¬︎
πŸ“…︎ Oct 29 2021
🚨︎ report
Top steelmaker Baowu Group vows output cuts, restructuring in H2 channelnewsasia.com/busin…
πŸ‘︎ 33
πŸ’¬︎
πŸ‘€︎ u/ted_low
πŸ“…︎ Aug 10 2021
🚨︎ report
Steelmakers Grapple With How to Cut Carbon Emissions wsj.com/articles/steelmak…
πŸ‘︎ 4
πŸ’¬︎
πŸ‘€︎ u/thorium43
πŸ“…︎ Aug 24 2021
🚨︎ report
Nippon Steel sues Toyota, Chinese steelmaker for patent violation english.kyodonews.net/new…
πŸ‘︎ 6
πŸ’¬︎
πŸ‘€︎ u/taipingshan
πŸ“…︎ Oct 14 2021
🚨︎ report
China steelmaker Jianlong produces first iron using hydrogen nasdaq.com/articles/china…
πŸ‘︎ 333
πŸ’¬︎
πŸ‘€︎ u/chopchopped
πŸ“…︎ Apr 14 2021
🚨︎ report
Cleveland-Cliffs CEO to be named steelmaker of the year, hailed as 'true champion of steelworkers' nwitimes.com/business/loc…
πŸ‘︎ 111
πŸ’¬︎
πŸ‘€︎ u/Lord_Fusor
πŸ“…︎ May 19 2021
🚨︎ report
UK unveils emergency legislation to protect domestic steelmakers ft.com/content/7292c0e6-f…
πŸ‘︎ 24
πŸ’¬︎
πŸ‘€︎ u/ink-ling
πŸ“…︎ Jun 30 2021
🚨︎ report
Steelmaker Hoa Sen’s chairman to become Buddhist monk in 2026

Hoa Sen Group founder and chairman Le Phuoc Vu has said he will remain involved with the operations of the steel giant until he enters monastic life in 2026.

πŸ‘︎ 5
πŸ’¬︎
πŸ‘€︎ u/Senior_Type6153
πŸ“…︎ Dec 29 2021
🚨︎ report
Steelmaker Hoa Sen’s chairman to become Buddhist monk in 2026

Hoa Sen Group founder and chairman Le Phuoc Vu has said he will remain involved with the operations of the steel giant until he enters monastic life in 2026.

πŸ‘︎ 3
πŸ’¬︎
πŸ“…︎ Dec 30 2021
🚨︎ report

Please note that this site uses cookies to personalise content and adverts, to provide social media features, and to analyse web traffic. Click here for more information.