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By Jonathan P. Hicks and Jonathan P. Hicks,New York Times News Service | July 5, 1991
LTV Corp., the nation's third-largest steel producer, has told customers that it intends to raise prices on some products by about 5 percent, beginning Sept. 29.USX Corp., the nation's largest steel producer, and Wheeling-Pittsburgh Corp., the eighth-largest, said they would match the proposed increase.Other major steelmakers, including Bethlehem Steel Corp., InlandSteel and Armco Inc., said they were studying the price increases but that they had not yet decided whether to match them.Analysts, however, said the increases were unlikely to hold, given the current low demand from major customers and the inability of steelmakers over the last year to raise prices after several attempts.
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BUSINESS
By Chicago Tribune | October 11, 2007
CHICAGO -- In a decision that will cheer domestic steel producers but disappoint U.S. manufacturers that buy steel to make their products, the U.S. International Trade Commission voted yesterday to extend anti-dumping duties on hot-rolled steel imported from China and five other countries. The fight over the import duties on hot-rolled steel is the latest flash point between the U.S. steel industry and domestic steel consumers. The domestic steel industry argues that U.S. steelmakers need protection, in the form of anti-dumping and countervailing duties, from low-cost steel imports from China and other countries that don't abide by U.S. trade rules.
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BUSINESS
By Liz Atwood and Liz Atwood,Evening Sun Staff | April 24, 1991
Bethlehem Steel Corp. lost $39.2 million, or 60 cents a share, on sales of $1.05 billion in the first quarter, but analysts say things could be worse."
BUSINESS
By James P. Miller and James P. Miller,Chicago Tribune | December 15, 2006
In a move that cheered automakers but angered domestic steel producers, the U.S. International Trade Commission yesterday eliminated most of its controversial tariffs on carbon-steel imports. The independent federal agency's ruling ends an unusual, high-profile feud between two American smokestack industries battered by global competition, Big Steel and its major customer, the auto industry. The commission's action will lower the price auto companies pay for steel and bring a similar benefit to other major steel buyers, such as implement makers Caterpillar Inc. and Deere & Co. Those same lower steel prices promise to pressure profits at many American steel producers.
BUSINESS
By Kim Clark | November 9, 1990
Weaker-than-expected demand for sheets of steel has sparked Bethlehem Steel Corp. to partially back away from its previously announced price increase.Company spokesman Henry Von Spreckelsen said Bethlehem has reduced price increases to 4 percent from 8 percent. The 8 percent increase, announced three weeks ago, was to affect the sheets of steel used by automakers, appliance manufacturers and machine shops.Industry experts said they expect other steel producers to also cut back pending price increases.
NEWS
June 25, 1993
The Clinton administration's tendency to talk a good game on trade policy, proclaiming its support for a North American Trade Agreement and vast reforms in global commerce while catering to protectionist pressures, is once again on display. This time it is in the steel sector, as the Commerce Department moves to slap punitive tariffs on $3 billion in imports from 19 countries.For the major U.S. steel producers, including the Bethlehem Steel Company's Sparrows Point plant here in Baltimore, the Commerce Department's tactic is a boon.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | April 24, 1996
Bethlehem Steel Corp. saw its profits all but evaporate during the first three months of the year, the company said yesterday, buffeted by low steel prices, harsh winter weather that left four feet of water in one Pennsylvania mill, and a strike at General Motors Corp.The Pennsylvania steel company said it earned $100,000 in the first quarter, down from $52.5 million in the same months of 1995. This year's first-quarter sales were $1.12 billion, down about $120 million.Charles Bradford, a steel industry analyst at New York-based UBS Securities, said he actually had expected the earnings to be worse, given all the bad news during the quarter.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 3, 1992
Reflecting the growing competitiveness of its product, Bethlehem Steel Corp. finished loading yesterday 5,500 tons of steel coils on a ship headed for its traditional antagonist -- Japan.The shipment is the first steel sold to a Japanese company from Sparrows Point's hot strip mill, which recently underwent a $200 million modernization. The changes have improved the quality of the steel and made its price more competitive, Bethlehem spokesman G. Ted Baldwin said.The shipment comes shortly after the expiration of quotas on foreign steel imports, a move many U.S. steel companies fear will hurt their business.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 24, 1992
An effort by U.S. steel companies to block the flow of cheap foreign steel into the United States received a boost this week with a preliminary ruling by the U.S. Commerce Department that six countries were "dumping" steel pipe in the United States.The determination came three weeks after import quotas expired and talks on a multinational steel agreement broke down in Geneva. Since then, Bethlehem Steel Corp. and Inland Steel Industries Inc. have filed unfair-trade charges against steel producers in four countries.
BUSINESS
By New York Times News Service The Journal of Commerce contributed to this article | September 12, 1992
WASHINGTON -- The Commerce Department tentatively ruled yesterday that several foreign steel companies were selling some types of bars and pipes in the United States at unfairly low prices or with unfair subsidies and moved to impose punitive customs duties on these imports.The rulings involve narrowly defined categories of pipes and bars. Imports in these cases totaled $314.5 million last year. The decisions are important mainly for the precedents they set for the Commerce Department's consideration this winter of 72 legal cases filed by U.S. steel producers June 30 against flat-rolled and plate steel imports from four dozen countries.
BUSINESS
By Bloomberg News | October 6, 2006
WASHINGTON -- General Motors Corp., Toyota Motor Corp. and the four other largest automakers said yesterday that they will petition an independent government agency to lift tariffs on corrosion-resistant steel from six countries. With steel prices near 18-month highs, the 13-year-old duties on the steel used to make parts are no longer necessary, the auto companies say. "The steel industry now is completely different than it was 13 years ago," Mustafa Mohatarem, GM's chief economist, said in an interview.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | February 27, 2004
International Steel Group Inc., owner of the Sparrows Point steel mill, reported a profit yesterday for the fourth quarter, its first as a public company. The steelmaker, which obtained Sparrows Point in acquiring Bethlehem Steel Corp. last May, said the rebounding economy would further boost its business during 2004. ISG reported net income of $24.9 million, or 28 cents per diluted share, for the quarter that ended Dec. 31. For the year, the Richfield, Ohio-based steelmaker reported a net loss of $23.5 million, or 31 cents per diluted share.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | December 13, 2003
Shares of International Steel Group Inc., the new owner of the Sparrows Point steel complex, shot up 26 percent in their trading debut on Wall Street yesterday following the first initial public offering by a major integrated steelmaker in nearly a decade. ISG, assembled from the wreckage of bankrupt steel companies including Bethlehem Steel Corp., sold 16.5 million shares at $28 a share late Thursday, raising $462 million. The stock opened at $33.50 yesterday on the New York Stock Exchange and then traded mostly higher to close at $35.20, or $7.20 above the IPO price.
BUSINESS
By GUS G. SENTEMENTES and GUS G. SENTEMENTES,SUN STAFF | March 9, 2003
A year after President Bush imposed tariffs on imported steel, the controversial move continues to evoke sharp criticism as well as unwavering support from steelmakers, manufacturers and industry experts. Steelmakers applaud the tariffs for helping to shore up domestic steel prices over the past year, encourage consolidation in a troubled industry, and dissuade foreign nations from flooding the U.S. market with cheaper steel. But many steel consumers argue that the tariffs have caused economic hardship among manufacturers, and forced them to pay higher prices for steel that goes into their products.
BUSINESS
By BLOOMBERG NEWS | July 13, 2002
WASHINGTON - The United States will raise import quotas for Russian raw steel by 200,000 tons this year, positioning that nation's slab-steel producers to get a bigger market share than they had before tariffs were imposed in March. The higher quota for slab steel, which is heated and rolled into finished steel, will mean $50 million in added sales for Russian steelmakers. It will help offset the estimated $500 million in sales that the Russian companies will lose with the tariffs on finished steel.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | December 8, 2001
The International Trade Commission yesterday recommended tariffs of up to 40 percent on certain steel imports to help protect the domestic industry from cheap foreign steel that has driven down prices, but the rulings fell short of domestic producers' expectations. At the direction of President Bush, the ITC began last summer studying the question of whether imports were harming U.S. steel producers. The commission ruled in October that the industry had been harmed and yesterday's action addressed what remedies should be put into place.
BUSINESS
By Ross Hetrick and Ross Hetrick,Staff Writer | April 24, 1992
An effort by U.S. steel companies to block the flow of cheap foreign steel into the United States received a boost this week with a preliminary ruling by the U.S. Commerce Department that six countries were "dumping" steel pipe in the United States.The determination came three weeks after import quotas expired and talks on a multinational steel agreement broke down in Geneva. Since then, Bethlehem Steel Corp. and Inland Steel Industries Inc. have filed unfair-trade charges against steel producers in four countries.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | February 27, 2004
International Steel Group Inc., owner of the Sparrows Point steel mill, reported a profit yesterday for the fourth quarter, its first as a public company. The steelmaker, which obtained Sparrows Point in acquiring Bethlehem Steel Corp. last May, said the rebounding economy would further boost its business during 2004. ISG reported net income of $24.9 million, or 28 cents per diluted share, for the quarter that ended Dec. 31. For the year, the Richfield, Ohio-based steelmaker reported a net loss of $23.5 million, or 31 cents per diluted share.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | October 28, 1999
Bethlehem Steel Corp. said yesterday that the continuing effects of cheap imports and renovation costs led to a third-quarter net loss of $90 million, or 77 cents per share.The country's No. 3 steel producer said the loss, which compares with a profit of $37 million, or 21 cents a share, in the year-ago quarter, was caused in large part by the relining of its blast furnace at its Sparrows Point plant in Baltimore. That project, along with renovations at other plants, lowered the steelmaker's profit by about $50 million.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | April 24, 1996
Bethlehem Steel Corp. saw its profits all but evaporate during the first three months of the year, the company said yesterday, buffeted by low steel prices, harsh winter weather that left four feet of water in one Pennsylvania mill, and a strike at General Motors Corp.The Pennsylvania steel company said it earned $100,000 in the first quarter, down from $52.5 million in the same months of 1995. This year's first-quarter sales were $1.12 billion, down about $120 million.Charles Bradford, a steel industry analyst at New York-based UBS Securities, said he actually had expected the earnings to be worse, given all the bad news during the quarter.
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