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SteelNerd

The catch-all author for posts gathered from steel companies & associations.

Posts by SteelNerd

September 12 2009

September 14, 2009

This

Week’s Raw Steel Production

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In the week ending September 12, 2009, domestic

raw steel production was 1,373,000 net tons while the capability
utilization rate was 57.5 percent. Production was 2,017,000
tons in the week ending September 12, 2008, while the capability
utilization then was 84.5 percent. The current week production
represents a 32.0 percent decrease from the same period
in the previous year. Production for the week ending September 12,
2009 is up 2.3 percent from the previous week
ending September 5, 2009 when production was 1,342,000 tons and the

rate of capability utilization was 56.2 percent.

Adjusted year-to-date production through September 12, 2009 was
40,558,000 tons, at a capability utilization rate of 46.7 percent. That
is a 48.2 percent decrease from the 78,213,000 tons during the same

period last year, when the capability utilization rate was 89.7
percent.

Broken down by districts, here’s production for the week
ending September 12, 2009 in thousands of net tons: Northeast
Coast: 110; Pittsburgh/Youngstown: 95; Lake Erie: 10; Detroit: 65;
Indiana/Chicago: 388; Midwest: 148; Southern: 495 and Western:
62.

(Estimate based on reports from companies
representing about 50% of the Industry’s Raw Steel Capability + includes

revisions for previous months)

 

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Event : 12th Annual Latin America Conference Morgan Stanley

September 13, 2009
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Event : Global Emerging Markets One-on-One Conference Deutsche Bank

September 8, 2009
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Announcement : Acquisition of shares

August 26, 2009

The Board of Directors of Gerdau S.A. decided to authorize the acquisition by said company of shares issued by it.

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Jeannot Krecké to be appointed* to ArcelorMittal’s Board of Directors

August 10, 2009

Luxembourg, 9 December 2009 – ArcelorMittal today announces that Georges Schmit will step down from his position as a member of the Board of Directors on 31 December, due to his appointment as Consul General of Luxembourg based in San Francisco.
In replacement of Mr. Schmit, the Board has co-opted Jeannot Krecké as an interim board member starting 1 January 2010. …

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ArcelorMittal Divests Minority Interest in Wabush Mines

August 8, 2009

Luxembourg, 9 October 2009 – ArcelorMittal has today signed a definitive agreement to divest its minority interest in Wabush Mines, Canada. ArcelorMittal’s 28.6% stake in Wabush Mines is being sold to Consolidated Thompson Iron Mines Ltd.(TSX Venture: CLM). ArcelorMittal will receive a consideration of USD34.28 million for the stake.
 ArcelorMittal’s stake in Wabush Mines is no longer a core part of the company’s mining strategy. …

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