Steel Blog

Below is part of an article produced over the weekend for our Steel Market Update subscribers. The article is from a trading company and speaks about the reduction in steel prices in North America over the past 18 months, what caused the decrease and what the domestic steel industry should do about the huge influx of foreign steel coming into the United States.

Last month, Alfred (Al) Plummer, Sales Manager for Hanwa American Corporation, made a presentation about the steel industry at a regional meeting of the Association of Steel Distributors (ASD).  Over the past few days Mr. Plummer has been communicating with Steel Market Update and we thought that the items being discussed should be of interest to our readers with the goal being to open a two-sided conversation about foreign steel imports and the changes in pricing seen over the past 12 to 18 months. Mr. Plummer sent Steel Market Update a letter to the editor and we have included the vast majority of the content in the article below:
 
"China is not the sole problem facing the Domestic Steel Industry.  In addition, when you consider that a large percentage of Chinese ships to the West Coast, there really is only a modest impact to the Midwest mills who are screaming the loudest."


Totem Steel International and Tata International Metals Americas, a division of Tata International Limited (member of the Tata Group, one of the most respected business conglomerates), announced that effective on February 1, 2015; Totem Steel will be continuing its operations as Tata International Metals Americas.

Totem’s founder and owner, JR Meyers, will remain with the company, and continue to lead his team of highly experienced traders through the transition and beyond.


A press release from Philips Metal:

Marcegaglia and Phillips Metals, Inc. (PMI) have signed an agreement to provide sales of DOM products into the North American market. The tubes will be mainly produced by the new Chinese facility of The Marcegaglia Group. The agreement provides exclusive sales representation to PMI and will target a variety of tubular markets including hydraulic cylinders, automotive, industrial, and distribution.


Stemcor Gets $1.15 Billion Loan

Sunday, March 23, 2014 2:39 PM Written by
Published in Stemcor

Stemcor, a privately owned steel trading company hit hard by the global financial crisis, has secured a $1.15 billion syndicated loan to bolster trading activity that fell sharply after the company defaulted on an $850 million loan last year.


Stemcor Gets More Time to Clear Debt

Tuesday, January 14, 2014 3:54 PM Written by
Published in Stemcor

Stemcor lenders have agreed to give the independent steel trader more time to restructure its $1.25 million debt. A standstill agreement, in which lenders agree not to ask for repayment and work with the company to restructure the debt, has been extended to the end of February.


Stemcor Gets More Time to Clear Debt

Tuesday, January 14, 2014 2:39 PM Written by
Published in Stemcor

Stemcor lenders have agreed to give the independent steel trader more time to restructure its $1.25 million debt. A standstill agreement, in which lenders agree not to ask for repayment and work with the company to restructure the debt, has been extended to the end of February.


Energex Tube & Metal One Team Up for OCTG Connectors

Monday, July 15, 2013 6:39 PM Written by
Published in Metal One

Energex Tube, a division of JMC Steel Group and Japan-based Metal One Corporation will offer semi-premium connections for use in the North American oil and gas drilling market.  The companies have signed a licensing agreement for Metal One’s proprietary GEOCONN and Supermax connections.