1. Among those troubled by the proposal is the Consuming Industries Trade Action Coalition, which represents companies that buy steel and is opposed to surcharge. 2. Automakers and other large customers typically buy steel under contract, which locks in the price they pay. 3. Acesita said the purchase of Sifco, which buys steel from Acesita, fitted its operations. 4. Last year, business was booming and supplies were so short that many U.S. mills bought imported steel to meet demand. 5. Overshadowing the industry are the economic problems in Asia and the weakening of Asian currencies, which has made Asian steel cheaper to buy. 6. SBI is buying steel and cement stocks in the expectation Finance Minister P. Chidambaram will ease the impact of a new minimum tax on infrastructure companies. 7. Since most companies buy steel on long-term contracts, few fear immediate price fluctuations. 8. Stainless steel prices dropped because of weaker demand and lower production as customers chose to deplete their inventories rather than buy new steel, the company added. 9. The steelmaker said both Bethlehem, Pennsylvania-based units will buy steel from its Pennsylvania Steel Technologies Inc. plant, also in Bethlehem. 10. Those companies in Slovenia and Croatia who bought our steel have found other suppliers. |