Product
November 1, 2022
Written by Laura Miller
Arkansas has become a hub for steel production in the southern US, and it will soon be home to another steel mill.
Hybar, a newly formed company led by steel industry veteran David Stickler, announced it will build a $500 million greenfield minimill to produce rebar in northeast Arkansas just outside of Osceola.
Private equity firm SCF Partners announced it has acquired American Piping Products (APP), a pipe and tube distributor headquartered in Chesterfield, Mo.
Sheet and plate prices continued to tick mostly higher this week amid a supply squeeze that shows no signs of loosening its grip on the US market.
The current plate market squeeze has been driven by improved demand and heightened import barriers, including 50% Section 232 tariffs. But the timing of fall outages—even if they were planned—is exacerbating the supply crunch.
U.S. Steel held a ceremonial groundbreaking on Monday for its new $475-million quench-and-tempering facility at its Fairfield Tubular Operations in Alabama.
The scrap market for October is looking for direction as some participants on both sides of the furnace are indicating scrap prices are poised for an increase.