Business Intelligence
Staff -- Purchasing, 8/17/2006 2:00:00 AM
850,000
Annual tonnageof new bar mill
Source: Nucor Corp.
What it means: Expanded supply ahead for 3- to 9-inch rounds of SBQ, or special bar quality, steel products needed to make certain automotive parts, hand tools, electric-motor shafts and valves. Nucor mill will be in the southern U.S.
$60
Price increase for Venezuelan HBI
Source: CVG Ferrominera Orinoco
What it means:Export prices to North America for pellets of Venezuelan hot-briquetted iron (HBI) used as a scrap supplement in electric-arc furnace (EAF) steelmaking now at $300/metric ton.
44%
Commodity trading growth
Source: International Financial Services
What it means:The explosion in speculative activity on global commodity trading in the past 18 months has brought energy and metals prices to record highs that are plaguing buyers. Some 878 million contracts were traded in 2005.
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