In scientific terms, it was akin to rolling a steel ball down an inclined plane to measure its velocity only to watch the ball float into the air instead.

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Unlike, say, Wilbur Ross, who had quick success rolling up broken steel companies by slashing production costs, the Bouchards say they'll order no layoffs among the 2, 600 employees (out of 3, 100) who are unionized.

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The market presently sniffs more early on profit margin leverage in coal mines, steel rolling mills and copper producers albeit many of these properties could easily violate loan covenants over the next 12 months.

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He bought Tetley Tea, an English brand, and NatSteel Asia, based in Singapore, whose rolling mills could use the slab steel produced in Tata's Indian plants.

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Flat rolled products refer to the steel sheets and plates that are made by rolling processes.

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Among the companies rolling over bond maturities were TXU , SandRidge Energy , and Steel Dynamics , while notable bond-for-loan takeouts were launched by Caesars Entertainment , Community Health , First Data , and Univision Communications .

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