Steel Mills
Nucor and Reliance Steel Request New Trial after $156M Judgment
Written by Sandy Williams
May 6, 2014
The $156 million judgment against Nucor, Reliance Steel & Aluminum, American Alloy Steel and JSW Steel (USA) will be delayed two weeks while the defendants file a motion for a new trial in the anti-trust lawsuit brought by MM Steel LLC.
Last week US District Judge Kenneth Hoyt ruled that a $52 million jury verdict against the steel companies would be tripled. According to court documents, the defendants agreed to split the judgment but were unwilling to reveal the details to MM Steel. There are indications that MM Steel may be willing to work towards a settlement of the case after the companies appealed the verdict judgment.
In the motion to delay the judgment, Hoyt said, “MM Steel cannot negotiate reasonable settlements with the defendants without knowing the contract limits they face in the undisclosed agreement.” (Source: Law 360)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USW seeks clarity on plans for Granite City Works
The United Steelworkers union has asked U.S. Steel to elaborate on its Granite City Works plans following reports that the steelmaker is ending processing at the facility.
Nucor maintains plate prices, opens October order book
Nucor aims to keep plate prices flat for a seventh straight month with the opening of its October order book.
ArcelorMittal Mexico to import from sister mills as it works to resume DRI production
ArcelorMittal has partially restarted operations at its direct reduction plant in Lazaro Cardenas, Michoacan. An explosion on Aug. 18 rocked the massive steelworks on Mexico’s Pacific coast, impacting production of direct-reduced iron (DRI).
Fall maintenance outages are coming in hot
Labor Day has passed, the sun is starting to set a little earlier each day, and cooler weather has begun to find its way down to many of us across North America. And you know what that means for the steel industry… Fall maintenance outages!
AISI: Domestic steel production ticks up
US raw steel production ticked up in the week ending on Sept. 6 after a decrease the week before, according to the most recent data from the American Iron and Steel Institute (AISI).