Steel Products
Nucor's Topalian to Speak During Virtual Steel Summit
Written by Sandy Williams
July 29, 2020
Nucor President and CEO Leon Topalian has had quite the year, taking the reins of Nucor in January and then steering the company through the COVID-19 pandemic. Unlike Nucor’s blast furnace competitors, the EAF-based steelmaker was able to continue operations relatively unabated during the past two quarters.
“Our ability to continue operating, along with proactive engagement with our customers, has enabled us to grow our businesses with existing customers, as well as develop new customer relationships,” said Topalian during second-quarter earnings comments. “I don’t want to return to pre-COVID operating or performance levels. I want us to continue to focus on the things that we’ve been able to do over the last five months that will be a part of our business as we move forward.”
Among that focus is a number of ongoing projects including the Brandenburg plate mill, expansion and modernization of the Gallatin mill and gaining automotive market share.
“With regard to automotive, while we’re not GM’s, or Ford’s, or BMW’s, or Mercedes’ Tier 1 biggest supplier, we are working every day to be their best supplier…. So, even though autos will be down this year and probably for the next year in terms of pre-COVID levels, our share of that opportunity is going to grow.”
Topalian is among the CEOs slated to speak at the SMU Steel Summit 2020. Register here to join your peers for the Aug. 24-26 virtual conference.
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.