Steel Products
Kentucky Electric Steel Closing Operations
Written by Sandy Williams
January 11, 2018
Steel merchant bar producer Kentucky Electric Steel, located in Boyd County, will cease operations permanantly on March 10, laying off 113 employees.
“This is nothing but bad and sad news,” said Boyd County Judge Executive Steve Towler. “Every job we lose has an impact on the county in many ways.” The county is still recovering from the idling of AK Steel’s Ashland plant two years ago.
The KES minimill produced merchant bar quality and special bar quality steel bar flats for various applications.
The mill is owned by Optima Specialty Steel. Optima filed for Chapter 11 bankruptcy in December 2016 and emerged from bankruptcy protection in October 2017.
{loadposition reserved_message}
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.
Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
CRU: Construction of pilot plant for green steel process starts
Voestalpine and partners have begun building an industrial-scale Hy4Smelt demonstration plant in Linz, Austria, which they hope will become key in the decarbonization of steel.
Rig count increases in the US and in Canada
Oil and gas drilling activity increased this week in the US and Canada for the third consecutive week, according to the latest Baker Hughes rig count data. US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.