Steel Products
Executive Changes for Gerdau North America Division
Written by Sandy Williams
January 23, 2018
Gerdau is making changes in its North American leadership. Peter Campo, president of the North American long steel division, will leave the company effective Jan. 23. Gerdau CEO Gustavo Werneck will lead operations until a new leader for the division is selected.
“The recent change in our business portfolio in North America demanded a shift in leadership to sharpen the focus on profitability and, at the same time, seek innovative ways to better serve our customers,” said Werneck. “We are committed to improve our performance in North America, where Gerdau is one of the largest long steel producers, and to build a successful path for our future.”
“Peter Campo has been a valuable member of our company for the last nine years, and played an important role in our transformation,” said Werneck. “On behalf of the company and our employees, I thank Peter for his significant contributions and wish him the best in his future endeavors.”
{loadposition reserved_message}
Gerdau announced earlier this month that it will sell its rebar operations in the U.S. to Commercial Metals Co. The $600 million agreement includes the sale of mills in Jacksonville, Fla.; Knoxville, Tenn.; Rancho Cucamonga, Calif.; and Sayreville, N.J.; as well as rebar fabrication facilities in the United States. The mills have a combined capacity of approximately 2.5 million short tons. The sale is expected to close by the end of 2018.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.

Plate market buzzes with rumors of secret deals from mills
Carbon steel plate market participants suspect that this week’s modestly softer prices are the result of quietly negotiated prices between plate purchasers and mills.

HR Futures: Forward curve shifts lower, structure maintains
Scraping lower-quartile $800s on nearby futures is bringing limited trading ideas for CME hot-rolled coil (HRC) at present.

Nucor drops HR spot price to $865/ton
Nucor has lowered its hot-rolled (HR) spot price by another $10 per short ton (st) this week.

SMU Week in Review: Aug. 11-15
With so much happening in the news cycle, we want to make it easier for you to keep track of it all. Here are highlights of what’s happened this week and a few things to keep an eye on.