Steel Mills

USS Canada Seeks Credit Protection Extension
Written by Sandy Williams
January 20, 2015
US Steel Canada will return to court on Wednesday to seek an extension of its credit protection until May 20, 2015. USSC received bankruptcy protection last September under the Companies Credit Arrangement Act (CCAA), beginning a lengthy restructuring process which includes the sale of US Steel Lake Erie Works and Hamilton Works.
Extensions are generally granted when significant progress is shown towards the restructuring effort. USSC spokesperson Trevor Harris said US Steel is “hopeful” that the extension will be approved.
Since the last extension, USSC has been working to update its 2015 business plan and long-term forecast said William Aziz, Chief Restructuring Officer for USSC. USSC has begun the process to determine potential liability in respect to USSC’s pension and OPEB Plans.
In December, USSC was granted permission to restart Hamilton’s hot-idled coke ovens which will commence in March.
USSC is also soliciting buyers for surplus land surrounding Hamilton Works. January 22 is the deadline for non-binding bids from interested parties.
Aziz said in the court documents that USSC will have sufficient cash flow and funding to continue operations through the May 20 extension date.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.

ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.

Ternium posts solid Q2, expects further shipment growth
Latin American steel producer Ternium delivered a solid performance in the second quarter of 2025. Performance was driven primarily by higher realized steel prices in Mexico, even as shipment volumes declined slightly across its regional portfolio.

Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”

Nucor eyes long-term gains amid strong demand and trade enforcement
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.