Market Segment
February 2, 2022
Written by David Schollaert
Allegheny Technologies Inc. (ATI) swung to a net loss of $29.8 million in the fourth quarter of 2021 after posting a profit of $48.7 million in the prior quarter.
The result was nonethless an improvement compared to the net loss of $1.121 billion posted by the Pittsburgh-based specialty materials producer in the fourth quarter of 2020.
Canton, Ohio-based specialty metals manufacturer Metallus has been awarded a contract valued at up to $995 million by the US Defense Logistics Agency (DLA), part of the Department of War.
U.S. Steel is investing $28.3 million in its Great Lakes Works in Michigan, with upgrades planned for its pickle line during a 30-day outage starting in October.
The result comes after Mexico’s Ministry of Economy completed a five-year sunset review of the anti-dumping duty (AD) order on imports of hot-rolled (HR) sheet from Russia and Ukraine.
President Trump said a trade deal with Canada could come within the next few weeks.
Mexico's Construcciones e Ingenierías Electromecánicas SA de CV (CIESA) has emerged as the leading bidder for the assets of bankrupt steelmaker Altos Hornos de México (AHMSA) and its mining subsidiary Minera del Norte (MINOSA). The Michoacán-based engineering and construction company offered $1.4 billion in a court-supervised bankruptcy auction held Sept. 25.