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17 сентября, 08:10

10 трагических инцидентов, когда правительство США приказало стрелять в бастовавших рабочих

На протяжении всей американской истории рабочий класс страны боролся за увеличение заработной платы и улучшение условий труда. Эта борьба часто становилась жестокой, и важно помнить о тех мужчинах и женщинах, которые погибли, чтобы принести всем остальным право на отдых в выходные, восьмичасовой рабочий день, запрет на детский труд, безопасность на работе и другие права.

13 сентября, 03:01

US steel market winds blowing in a new direction

The political winds in favor of the US steel industry may be dying down, but the winds of two recent hurricanes — Harvey and Irma — may give the industry a boost. “Sadly, the hurricanes might be what saves the steel market in the second half of 2017,” said one American steel distributor. He reasoned […] The post US steel market winds blowing in a new direction appeared first on The Barrel Blog.

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29 июня, 22:09

The waiting is the hardest part for US steel markets

The American steel industry is desperately in need of relief, but it’s not what you think. We have heard a lot about the possibility of import restrictions stemming from the government’s ongoing Section 232 investigation — that is the big issue. But the smaller, more pressing matter right now is the announcement of that relief, […] The post The waiting is the hardest part for US steel markets appeared first on The Barrel Blog.

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27 июня, 01:52

Brussels vows to retaliate over US steel tariffs threat

Trade commissioner says Trump administration move would be ‘very bad’ for Europe

23 июня, 08:01

US importers challenge the call for more steel trade restrictions

The American Institute for International Steel recently hosted a forum in Washington DC for those likely to be negatively impacted by steel import restrictions that could follow the government’s ongoing Section 232 investigation. They included speakers representing US traders, ports and steel end-users who believe the outcome of the 232 case — aimed at limiting imports […] The post US importers challenge the call for more steel trade restrictions appeared first on The Barrel Blog.

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24 мая, 21:27

US steel industry says cheap imports threaten national security

Executives demand protection for domestic producers from Trump administration review

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24 мая, 21:27

US steel industry says cheap imports threaten national security

Executives demand protection for domestic producers from Trump administration review

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24 мая, 21:27

US steel industry says cheap imports threaten national security

Executives demand protection for domestic producers from Trump administration review

11 мая, 19:01

China questions US probe into steel imports

THE Ministry of Commerce yesterday questioned US trade investigations into imports of steel products from six countries including China, describing the measures as “excessive.” The US Department of Commerce

27 апреля, 19:01

US steel probe breaches fair trade principles

CHINA’S steel industry group has voiced concern over the US probe on steel imports, saying the move sends a signal of protectionism and is against the principles of fair trade. The announcement by China

26 апреля, 18:21

U.S. Steel's (X) Q1 Earnings & Revenues Miss, Shares Tank

US Steel (X) recorded adjusted net loss of 83 cents per share for the first quarter 2017 that missed the Zacks Consensus Estimate of earnings of 32 cents.

21 апреля, 16:40

The "national defense" argument , by Scott Sumner

The Financial Times reports that the Trump administration is considering steel tariffs: The US has set the stage for a global showdown over steel, launching a national security investigation that could lead to sweeping tariffs on steel imports in what would be the first significant act of economic protectionism by President Donald Trump.  The decision to use a 1962 law allowing the US government to limit imports that threaten its security readiness is intended to deliver on Mr Trump's campaign promises to bolster heavy industry and "put new American steel into the spine of this country", officials said on Thursday. A few observations: 1. Congress erred in delegating to the executive branch the power to set national security tariffs. Almost any industry could be deemed essential for "national security". 2. The US steel industry currently produces about 80 million tons per year. That's more than enough to meet our essential military needs. And this doesn't even account for the fact that steel production could be increased, as we are not operating at capacity. Yes, it might take a bit of time to bring mothballed plants back online, but as the following quotation suggests, new weapons now take far longer to develop than they did back in WWII: Civilian manufacturing capacity is now ALMOST ENTIRELY USELESS for defense purposes. Whereas in WWII, auto assembly lines could be used to make planes & tanks, and Singer made guns instead of sewing machines... Now all but the most basic defense products (personal firearms, sewing of uniforms, etc) must be made by specialized expert-firms. Super-weapons such as the F-22/F-35, M1A3 Abrams (it's under development now), and whatever we make when we finally field a next-generation artillery piece (cancelling the Crusader was a mistake, btw) require such a specialized knowledge-base & facilities, that they MUST be made by a dedicated defense industry - something we have (on a best-in-the-world level). Re-purposing a factory that built 2-ton SUVs to build 70-ton tanks just isn't happening. Even if it could, how much experience does your average auto-worker have in assembling uranium-ceramic-steel-composite armor properly, so as to maintain it's ability to take 125mm KE hits? A final point on this issue, is that modern war moves to fast to 'develop and manufacture new products after the fact, using civilian industries'. It's a 'run what ya brung' sort of affair And this doesn't even account for the fact that the US would likely have access to steel produced in friendly countries such as Canada, Mexico, Brazil, Japan and Germany. Sure, one could construct scenarios where some of that steel is cut off in a war (i.e., Japanese exports are disrupted by a war with China, or German exports in a war with Russia), but unless the US is fighting the entire world at once, we'd surely have access to at least some markets. And if steel imports really were cut off, where would we get our iron ore? Today we don't need much iron because of our use of scrap metal. But if we stopped building cars during a war, then far less scrap metal would be available. This also fails to account for the fact that warfare in the modern world tends to be asymmetric. The threat of nuclear annihilation means that we fight small countries, not large nuclear powers. The development of missile technology tends to make steel-intensive weapons (such as ships and tanks) more of a "sitting duck" than in the old days. I recall that a single Argentine missile took out a British destroyer in the Falklands War--and that was way back in 1983. Think about today's cruise missiles, and also consider that the sort of powerful adversary that would require the US to have a massive steel industry would be far more militarily advanced than Argentina in 1983. I'm not expert on modern weapons, but I'd wager that in today's warfare a big steel industry is less important than back in WWII. 3. One possibility is that the national security argument is simply being used as an excuse to save jobs in the steel industry. As an analogy, recall that when Trump campaigned for President he promised to ban Muslim immigration. When Rudy Giuliani told him that this was a legally dubious proposal, Trump asked for a version of the plan that would be accepted by the courts. This led to the recent dispute over the ban on immigration from seven (later six) majority Muslim countries. I don't have strong views either way on whether Trump's immigration ban was legal. But I will say that the legal argument for protecting the US steel industry on national security grounds seems far less plausible than the claim that the immigration ban protects national security (and I'm dubious of even that claim.) So you might expect the courts to question the steel tariffs on exactly the same grounds they challenged the immigration ban---Trump is on the record favoring this sort of action on entirely different grounds---jobs. On the other hand, courts have tended to show more deference to the government on economic regulation than on civil rights/equal protection issues, so I'm not making any predictions here. 4. It is likely that a suitably high steel tariff could save some jobs in the US steel industry. However, it seems much less likely that this would serve Trump's broader goals of restoring jobs in manufacturing. Tariffs protect industries by driving up the price of the commodity being imported. But if steel prices rise, then this puts other American manufacturers (cars, white goods, etc.) at a competitive disadvantage to imports. Mexican firms making cars or washing machines would be able to buy steel more cheaply than American manufacturers, and this would cost jobs in other sectors of the US economy. The net effect on the total number of jobs in manufacturing is likely to be pretty trivial, and could be either positive or negative. 5. Policies based on metaphors that romanticize and/or anthropomorphize the economy are unlikely to be wise: The decision to use a 1962 law allowing the US government to limit imports that threaten its security readiness is intended to deliver on Mr Trump's campaign promises to bolster heavy industry and "put new American steel into the spine of this country", officials said on Thursday. Sorry folks, those days are long gone: (19 COMMENTS)

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18 апреля, 17:27

Making American steel great again — Trump, tweets and trade

Since the fall of 2016, when steel emerged as a key topic in the US presidential debates and longtime industry issues became the stuff of living room and social media conversations across the country, the steel industry in the US has felt emboldened. Download the full article (PDF) The post Making American steel great again — Trump, tweets and trade appeared first on The Barrel Blog.

13 апреля, 19:15

Cancer-Causing Chemical Spill 100 Yards From Lake Michigan Closes Beaches

Authored by Carey Wedler via TheAntiMedia.org, Multiple Indiana beaches have been shut down following a spill of wastewater containing hexavalent chromium, a highly toxic chemical linked to cancer. The United States Steel company reported the leak occurred on Tuesday due to equipment failure at its Portage, Indiana, plant, a lapse that “resulted in a chemical leak into the waterway that forced the shutdown of a drinking water intake along Lake Michigan and several nearby beaches,” the Northwest Indiana Times explained. Local outlet The Indy Channel also documented the circumstances, acknowledging the release of hexavalent chromium into the water: “The USS Midwest Plant reported that they had a spill into the Burns Waterway Tuesday afternoon. The Environmental Protection Agency says the spill contained hexavalent chromium from the US Steel facility in Portage, Indiana.” U.S. News reported that U.S. Steel said the leak was a result of a malfunctioning pipe, asserting “an expansion joint failed Tuesday in a pipe at its Portage, Indiana, facility, allowing wastewater from an electroplating treatment process that contains hexavalent chromium to flow into the wrong wastewater treatment plant at the complex.” The spill has led to the National Park Service’s closure of “West Beach and Portage Lakefront and Riverwalk at Indiana Dunes National Lakeshore and Ogden Dunes’ town beach.” On Wednesday, the service also shut down Cowles Bog Beach. According to U.S. News, in addition to causing beach closures, Tuesday’s spill “prompted a local water utility to stop drawing water from the lake out of ‘an abundance of caution,’ the U.S. Environmental Protection Agency said.” The EPA is leading an investigation into the wastewater spill into the waterway, which the agency says is just 100 yards away from Lake Michigan. Hexavalent chromium carries several health risks. The Occupation Safety and Health Administration warns of the risk of “lung cancer in workers who breathe airborne hexavalent chromium, irritation or damage to the nose, throat, and lung (respiratory tract) if hexavalent chromium is breathed at high levels, [and] irritation or damage to the eyes and skin if hexavalent chromium contacts these organs in high concentrations.” Skin contact with chromium can also cause dermatitis and skin ulcers, and the EPA cautions that ingesting it, particularly through drinking water, can also lead to dermatitis. It claims it is reviewing the results of a long-term 2008 study that “suggested that chromium-6 may be a human carcinogen if ingested.” It is difficult to estimate the spill’s potential health hazards, especially because the amount of wastewater leaked through the broken pipe has not yet been disclosed. U.S. Steel said it is working with authorities to ensure proper cleanup: “Additional steps to mitigate the impact are being taken. These steps include the isolation and repair of the damaged pipe, recovery of material, and the addition of a water treatment compound, sodium trithiocarbonate (CNa2S3), to the wastewater treatment plant to convert and aid in the removal of hexavalent chromium.”   “We are gathering information right now. It is too early to tell if there is an impact on the town,” said Ogden Dunes Town Council President Tim Nelson. Save the Dunes, a conservancy organization, warned that “people and pets should avoid direct contact with Lake Michigan.” In shutting down the beaches, the National Park Service warned that residents “should avoid contact with the water of Lake Michigan or Burns Waterway in the West Beach and Portage Lakefront areas until further notice.”

07 апреля, 12:41

Bull of the Day: Nucor (NUE)

Bull of the Day: Nucor (NUE)

15 марта, 18:41

Fed Watching Can Be A Costly Distraction

Another hike in the federal funds rate on Wednesday appears all-but certain. Experts, prediction markets, and Fed officials themselves all indicate that the central bank is ready to raise target

08 марта, 13:36

The Obama Idea to Save Coal Country

It was embraced by Republicans but blocked by other Republicans. Will it get a second chance?

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05 марта, 19:01

China says US steel ruling ‘groundless’

A Chinese commerce ministry official has rejected a recent US ruling on Chinese steel product imports as “groundless.” In the ruling, the United States declared that stainless steel sheet and strip imports

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30 октября 2012, 18:20

US Steel нарастила чистую прибыль в 2 раза

Крупнейшая американская сталелитейная корпорация U.S. Steel по итогам III квартала увеличила чистую прибыль в 2 раза в годовом значении. Спрос на трубы от нефтегазового сектора оказался выше, чем ожидалось.Чистая прибыль корпорации за июль-сентябрь выросла до $44 млн, или 28 центов на акцию. В III квартале 2011 г. прибыль составила $22 млн, или 15 центов на акцию.За исключением разовых факторов прибыль U.S. Steel составила 14 центов на акцию. Эксперты прогнозировали прибыль компании в размере 2 цента на акцию.Выручка U.S. Steel упала до $4,65 млрд с $5,1 млрд в III квартале прошлого года. Эксперты прогнозировали выручку в размере $4,64 млрд. По итогам III квартала компания поставила 5,3 млн тонн стали против 5,5 млн тонн годом ранее.