Wednesday, 09 February 2011 02:59:55 (GMT+2)
Ohio's State Controlling Board announced a series of approved grants administered by the Ohio Department of Development to encourage economic growth and job creation.
United States Steel Corporation will receive a $200,000 Rapid Outreach Grant to help purchase new machinery and equipment for its expansion project in Lorain County, Ohio. The entire project will cost an estimated $93.6 million.
Tags: USA , North America , steelmaking , investments , US Steel(sourced:steelorbis)
Showing posts with label US Steel Corp. Show all posts
Showing posts with label US Steel Corp. Show all posts
Wednesday, February 9, 2011
Saturday, February 5, 2011
US steelmaker shares down on dollar, profit-taking
Friday, Feb 4, 2011 9:47pm GMT
* U.S. steelmakers' shares fall
* Profit-taking, stronger dollar cited
* Little impact seen from proposed Nippon-Sumitomo merger
(Updates with more analyst comments, closing stocks)
NEW YORK, Feb 4 (Reuters) - The shares of U.S. steelmakers fell on Friday and analysts attributed the drop to profit-taking after a recent run-up and a stronger dollar, rather than to news of a major steel merger in Japan.
"When the dollar is up, it usually hurts commodities," said Charles Bradford of Bradford Research. "U.S. steelmakers want to export and it's better if the dollar is weak."
The dollar extended gains against the Japanese yen on Friday, boosted by optimism about the U.S. economic outlook.
Bradford also noted steel stocks had risen recently -- U.S. Steel Corp (X.N: Quote) had risen 6 percent in the week since posting a bigger-than-expected fourth-quarter loss and giving only a modest forecast for improvement in the first quarter.
But he did not think the stock drop was related to plans by Japan's Nippon Steel Corp (5401.T: Quote) and Sumitomo Metal Industries Ltd (5405.T: Quote) to create the world's No. 2 steelmaker.
"I see this as more about Japan being wary of China and other Asian competition. It's not a concern for the U.S.," he said.
Michael Locker, of steel industry consultancy Locker Associates, noted the proposed merger creates a 48-million-ton per-year producer.
"That's a big move, but I don't see a deep ... impact for U.S. steelmakers," he said.
"It will make for tougher competition on world markets, but I don't think it will squeeze U.S. steelmakers though. Japan is more focused on China."
On the New York Stock Exchange, U.S. Steel shares dropped 4 percent to close at $58.17, AK Steel Holding Corp (AKS.N: Quote) dropped 3.0 percent to $15.84 and Nucor Corp (NUE.N: Quote) ended the day 24 cents lower at $47.97. (Reporting by Steve James;editing by Gerald E. McCormick & Andre Grenon, sourced:reuters)
* U.S. steelmakers' shares fall
* Profit-taking, stronger dollar cited
* Little impact seen from proposed Nippon-Sumitomo merger
(Updates with more analyst comments, closing stocks)
NEW YORK, Feb 4 (Reuters) - The shares of U.S. steelmakers fell on Friday and analysts attributed the drop to profit-taking after a recent run-up and a stronger dollar, rather than to news of a major steel merger in Japan.
"When the dollar is up, it usually hurts commodities," said Charles Bradford of Bradford Research. "U.S. steelmakers want to export and it's better if the dollar is weak."
The dollar extended gains against the Japanese yen on Friday, boosted by optimism about the U.S. economic outlook.
Bradford also noted steel stocks had risen recently -- U.S. Steel Corp (X.N: Quote) had risen 6 percent in the week since posting a bigger-than-expected fourth-quarter loss and giving only a modest forecast for improvement in the first quarter.
But he did not think the stock drop was related to plans by Japan's Nippon Steel Corp (5401.T: Quote) and Sumitomo Metal Industries Ltd (5405.T: Quote) to create the world's No. 2 steelmaker.
"I see this as more about Japan being wary of China and other Asian competition. It's not a concern for the U.S.," he said.
Michael Locker, of steel industry consultancy Locker Associates, noted the proposed merger creates a 48-million-ton per-year producer.
"That's a big move, but I don't see a deep ... impact for U.S. steelmakers," he said.
"It will make for tougher competition on world markets, but I don't think it will squeeze U.S. steelmakers though. Japan is more focused on China."
On the New York Stock Exchange, U.S. Steel shares dropped 4 percent to close at $58.17, AK Steel Holding Corp (AKS.N: Quote) dropped 3.0 percent to $15.84 and Nucor Corp (NUE.N: Quote) ended the day 24 cents lower at $47.97. (Reporting by Steve James;editing by Gerald E. McCormick & Andre Grenon, sourced:reuters)
EPA rejects EPA air permit for US Steel Granite City Works
Saturday, 05 Feb 2011
The Environmental Protection Agency has rejected parts of an air permit issued by Illinois regulators for US Steel Corporation's Granite City Works and sent the permit back to the state.
The Illinois EPA issued the permit in September 2009. The Interdisciplinary Environmental Clinic at Washington University School of Law filed an appeal with the EPA a month later on behalf of American Bottom Conservancy, a Metro East based environmental group.
The group challenged the permit on dozens of points, including that it excluded the impact of a newly built coke plant and failed to state how the emissions from the plant would be monitored under the federal Clean Air Act.
Ms Kathy Andria executive director of American Bottom Conservancy said that "Consistent monitoring is important to ensure that US Steel Granite City Works is not emitting toxic air pollutants at an unsafe level."
Ms Maggie Carson spokeswoman at Illinois EPA said that the agency plans to reissue the permit but could not discuss specific issues.(sourced:stltoday.com)
The Environmental Protection Agency has rejected parts of an air permit issued by Illinois regulators for US Steel Corporation's Granite City Works and sent the permit back to the state.
The Illinois EPA issued the permit in September 2009. The Interdisciplinary Environmental Clinic at Washington University School of Law filed an appeal with the EPA a month later on behalf of American Bottom Conservancy, a Metro East based environmental group.
The group challenged the permit on dozens of points, including that it excluded the impact of a newly built coke plant and failed to state how the emissions from the plant would be monitored under the federal Clean Air Act.
Ms Kathy Andria executive director of American Bottom Conservancy said that "Consistent monitoring is important to ensure that US Steel Granite City Works is not emitting toxic air pollutants at an unsafe level."
Ms Maggie Carson spokeswoman at Illinois EPA said that the agency plans to reissue the permit but could not discuss specific issues.(sourced:stltoday.com)
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