Steel Mills
Alton Steel Joins Layoff Trend
Written by Sandy Williams
April 10, 2015
Another steel mill bites the bullet and lays off employees as a result of poor market conditions.
Alton Steel laid off 88 union workers at its melt shop and bar mill for a period of at least three weeks or more. According to a union member in report by local news source The Telegraph, the melt shop has been cut back to one shift from two and the bar mill from three shifts to two.
The layoffs are attributed to challenging market conditions from unfairly traded imports, low steel prices and the drop in steel demand from energy markets.
Alton Steel produces special bar quality (SBQ) round bars and round cornered squares and is located in Alton, IL. Alton Steel operates a 200 ton electric arc furnace with a capacity of 750,000 tons annually and the ability to roll 400,000 tons of steel in its 14″ rolling mill.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor lowers 2024 output estimate for Brandenburg plate mill
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Topalian puts focus on “unfair” trade, eyes USMCA partners
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Nucor posts lower Q2 earnings, predicts tough Q3 too
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.