Yahoo! News – China-US Trade Surplus at $58.61 Billion: “Chinese exports to the United States, its second-biggest trade partner, rose an annual 32.2 percent in 2003 to $92.47 billion, while imports from the United States rose 24.3 percent to $33.86 billion, the newspaper said. “
Yahoo! News – Japanese Business Ties With China Explode: “The China boom is so strong it is playing a key role in fueling Japan’s recovery, a rebound many hope will finally lift the world’s second largest economy out of the humiliating slump where it has languished since the early 1990s. “
So if I understand this properly, Asia is actually consuming more steel than it is “dumping” on the U.S. … so why the tarifs?
AP Wire | 02/01/2004 | Demand, prices for scrap metals on the rise: “A published report points to China’s demand for raw materials and its booming economy as contributors to double-digit increases in the price of domestic steel. The report said China now consumes a third of the world’s output of rolled steel.
‘China is the sleeping giant,’ Calandra said. ‘Its appetite for scrap and raw materials is voracious.’
Competition from China is pushing up prices everywhere. Data show that domestic steel prices this month are up by about 12 percent from December.”
Need I say more … Janet Jackson’s breast gets more Web traffic than 9/11 – Feb. 06, 2004
Yahoo! News – W.Va. to Challenge Sale of Aluminum Plant “”We have been working for some time with Pechiney and have discovered that very few purchasers would be able to run the plant because of technical and quality complexities associated with aluminum production,” Wise said.
Instead, Wise wants the consent decree modified so Alcan can continue operating the Jackson County plant.”
Yahoo! News – Bush says he has US economy back on growth track: “Opposition Democrats say more than two million jobs have disappeared since Bush took office in January 2001. ”
The markets would appear not to agree with him … Yahoo! News – Dollar Drops More Than 1 Pct on Jobs Data: “News the U.S. economy created 112,000 new jobs in January, far fewer than the 150,000 the market expected, sent the dollar down more than 1 percent against a range of currencies ”
Who knows, maybe life on Mars is more intelligent than what we have here … Yahoo! News – Mars Rovers Probe Soil for Clues to Life, Water
Maybe there’s hope for life on earth still …
A refreshing change from the depressing recent trend in most stores to hire only the youngest, cheapest and least experienced staff … Yahoo! News – Home Depot Seeks Older Workers for Jobs: “Under the agreement, the AARP will find and train the workers and will help them apply for the jobs, said the AARP’s Jim Seith. Home Depot will try to accommodate part-time schedules and varying skill levels. “
Yahoo! News – Iowa Thieves Steal the Kitchen Sink: “thieves have stolen washers and dryers, furnaces, faucets, fixtures, even doors and windows.
Forty-one construction burglaries were reported in Des Moines in the last eight months of 2003. “
Yahoo! News – American job data for January pushes stocks higher; C$ up almost 2/3 cent “Investors took solace in the creation of 112,000 jobs in America last month, the highest pace in three years. [T]he 112,000 jobs added in January was well below the 175,000 economists had hoped for.
But Scotiabank senior economist Andrew Pyle notes that “112,000 at least holds the trend”
Statistics Canada reported an increase of 47,000 full-time jobs last month, partly offset by a decline in part-time work, for a net gain of about 15,000 positions. Economists had expected 20,000.
The Canadian dollar was up 0.64 cent to 75.36 cents US after Statistics Canada said Canada’s unemployment rate was unchanged at 7.4 per cent. “
Yahoo! News – U.S. group could buy insolvent Slater Steel’s Hamilton operations: Union: “Slater had initially hoped to emerge from bankruptcy protection with two of its divisions – Hamilton Specialty Bar, and Atlas Stainless Steels in Sorel-Tracy, Que. – continuing to operate. It abandoned those plans last month, citing high costs and failure to reach cost-cutting deals with unions in both provinces.
The company had sought $3.9 million in labour concessions from a unit of the Confederation of National Trade Unions in Quebec and $5.6 million from the Steelworkers members in Hamilton.
Both unions said they’d been told by Slater that even those cuts wouldn’t be enough, and that millions more in savings – as much as $10 million in Hamilton alone – were needed to improve productivity. ”
Hamond bought stainless from Atlas/Tracy in the past.