Steel Mills

US Steel to Pay $58 Million in Antitrust Settlement
Written by Sandy Williams
July 10, 2014
US Steel agreed in a Northern Illinois federal court on Tuesday to pay $58 million to settle a class action lawsuit filed in 2008 by Standard Iron Works on behalf of direct purchasers of steel products. The suit alleged that eight U.S. steel producers violated federal antitrust laws by restricting production of steel products between 2005 and 2007 for the express purpose of raising steel prices.
The defendants in the case included U.S. Steel, ArcelorMIttal, Nucor, Gerdau, AK Steel, Steel Dynamics Inc., SSAB and Commercial Metals Company (CMC). There are still three mills who have not yet settled: Nucor, SDI and SSAB.
The US Steel settlement follows previous settlements by ArcelorMittal ($90 million), AK Steel ($5.8 million), Gerdau ($6.1 million), and Commercial Metals Company ($4 million).
US Steel and attorneys for Standard Iron Works declined comment.

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).