Swedish engineering group Sandvik said Thursday it planned to cut 1,040 jobs and reduce production over weakened demand mainly in the automotive and engineering industries. The group has some...

SteelBenchmarker reported that the US hot rolled band spot price for September 22nd 2008 dropped by 4.1% to USD 1,076 per tonne, FOB the mill for the fourth consecutive time.

Toyota Motor Corp. said Wednesday that it was considering raising its prices in response to soaring steel costs, following a report that it will announce hikes in Japan for next month.

ArcelorMittal, the world’s number one steelmaker, reported second-quarter results far above analysts’ expectations on Wednesday as it managed to pass on rising raw material costs despite the growing economic gloom.