Market Segment
September 29, 2022
Written by David Schollaert
Worthington Industries reported sharply lower profits in its fiscal 2023 first quarter results ended Aug. 31, 2022, despite a boost in sales.
The Columbus, Ohio-based manufacturer and service center said the drop resulted largely from inventory holding losses at its steel processing division, which negatively impacted results by an estimated $48.6 million.
Several steel trade organizations have called on President Trump to resist weakening Section 232 steel tariffs.
The US Commerce Department has raised the anti-dumping duties (AD) on imports of oil country tubular goods (OCTG) from South Korea.
ArcelorMittal told the government of Ukraine that it is unable to restart operations at its ArcelorMittal Kryvyi Rih steel plant in a “safe and sustainable manner” following Russian missile attacks.
After an annual administrative review, the Commerce Department increased the anti-dumping duties on large-diameter welded pipe from Turkey.
Global raw steel production slowed for the third month in a row in August, according to the latest figures from the World Steel Association (worldsteel).