Market Segment
February 24, 2023
Olympic Steel’s earnings tumbled in the fourth quarter, but the company remains focused on growth opportunities in 2023.
The Cleveland-based service center reported net income of $4 million in the fourth quarter ended Dec. 31, down 84% from $24.9 million a year earlier on net sales that fell 17% to $520 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).