O’Neal Invests $5 million in Birmingham, Ala., Caterpillar Partnership

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O’Neal Manufacturing Services is expanding its partnership with heavy equipment manufacturer Caterpillar, a move that is expected to add up to 25 jobs in Birmingham, Ala., according to Al.com. OMS also plans to invest about $5 million in new equipment for Caterpillar’s needs, the company said.

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Two Caterpillar products that were previously built in Japan – the Mini Hydraulic Excavator and the Small Track Type Tractor – will soon be produced at a new facility near Athens, Ga., amid a reshoring initiative.

OMS’ Birmingham location will provide Caterpillar with fabricated parts and other components for the Small Track Type Tractor, which is a bulldozer.

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Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.87) and a low price of CNY 830.00 ($133.26) per dry metric ton. The price of Chinese HRC continues hovering around CNY 3,360 ($539.48) per metric ton for the fifth day in a row. For the fifth day in a row, the price of Chinese coking coal remained essentially flat at CNY 1,390 ($223.18) per metric ton.

For the fifth consecutive day, the cash price of steel billet held flat on the LME at $390.00 per metric ton. The 3-month price of steel billet held steady on the LME at $400.00 per metric ton.

The 3-month price of the US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $637.00 per short ton. The US HRC futures contract spot price remained essentially flat at $684.00 per short ton.

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