Market Segment
May 26, 2022
Written by Michael Cowden
Nucor Corp.’s $3 billion acquisition of CHI Overhead Doors, its largest deal ever, represents a shift away from the company’s traditional roots as a steelmaker.
“We absolutely want to pivot from being just a steelmaker to a manufacturing company,” Nucor president and CEO Leon Topalian said.
As substrate costs continue to rise, Nucor Tubular Products announced a price increase for heavy structural sections (HSS), mechanical, and piling products.
Iron ore shipments from US ports on the Great Lakes slipped in September from a year earlier, according to the Lake Carriers Association (LCA).
The Department of Commerce thinks revoking the anti-dumping duty (AD) orders on cut-to-length carbon steel plate from China and Russia would lead to the recurrence of dumping at significant margins.
Algoma Steel Group Inc. expects the first heat from its second electric-arc furnace (EAF) in the coming days, even as it forecasts a quarterly EBITDA loss and a 20% decline in shipments.
Nucor said on Thursday evening it plans to increase plate prices by $60 per short ton (st) as it opens its November order book.