Everything You Always Wanted to Know About Steel. . .
But Were Afraid to Ask


Copyright Michelle Applebaum Research, Inc
2003-2006
All rights reserved.
June 2006
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z


L

LADLE 4
A “bucket” lined with refractory (heat resistant) bricks, used to transport molten steel from
process to process in a steel plant.
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LADLE METALLURGY FURNACE (LMF)
An intermediate steel processing unit that further refines the chemistry and temperature of
molten steel while it is still in the ladle.  The ladle metallurgy step comes after the steel is
melted and refined in the electric arc or basic oxygen furnace, but before the steel is sent to the
continuous caster.  
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LANCE 4
A long metallic tube through which oxygen is blown into the BOS vessel under high pressure.
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LEAD-TIME 1
Delivery time for an item of inventory to be moved from a source location to a destination via a
specific route.  Detail is specific to the level of the location.  Also the time to produce a customer’
s order from order placement to shipment.
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LEGACY COSTS
Any costs that are associated with prior operations.  Employee liabilities (pensions and health
care benefits) and environmental cleanup costs usually are included under this moniker.  
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LEVELING 1
The process by which a leveling machine flattens metal strip, coil, or sheets by bending it up
and down over the interrupting arcs of upper and lower sets of long, slender work rolls.  
Machines generally employ 17, 19, or 21 relatively small diameter rolls whose deflection under
load is controlled by additional back-up rollers and a rigid frame.
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LIFE CYCLE COSTING
An accounting method of costing where expenses are allocated over the life of the product.  Life
cycle costs are often lower for stainless steel than for alternatives despite a higher initial outlay,
because stainless products generally last longer and require little maintenance.  
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LIGHT-GAUGE STEEL
Very thin steel sheet that has been temper-rolled or passed through a cold-reduction mill.  Light
gauge steel normally is plated with tin or chrome for use in food containers.  
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LINE PIPE
Pipe used in the surface transmission of oil, natural gas and other fluids.  
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LONDON METAL EXCHANGE (LME)  
A metals trading center for the Western World.  The LME also determines the metal price for
aluminum trading for current and future delivery.
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LONG PRODUCTS
Classification of steel products that includes bar, rod and structural products, that are “long,”
rather than “flat.”
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LOW-CARBON STEEL
Steel with less than 0.005% carbon is more ductile (malleable):  It is capable of being drawn out
or rolled thin for use in automotive body applications.  Carbon is removed from the steel bath
through vacuum degassing.  
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Source: Weirton Steel Glossary

Source: Dofasco Glossary of Terms

Source: Reliance Steel 10-K

Source: BlueScope Steel Glossary of Terms

Source: Allegheny Technologies 10-K

Source: Alcoa 10-K

Source: Alcan 10-K
                                                                  

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