Market Segment
February 5, 2024
Written by Laura Miller
While it may have the support of President Biden, the United Steelworkers (USW) union remains concerned about the proposed sale of U.S. Steel to Nippon Steel Corp. (NSC).
On Fri., Feb. 2, the USW reported that it had been in communication with the White House regarding the potential sale.
Private equity firm SCF Partners announced it has acquired American Piping Products (APP), a pipe and tube distributor headquartered in Chesterfield, Mo.
The Greenbrier Companies received orders for 3,400 new railcars with an aggregate value of ~$600 million during its fiscal fourth quarter ended Aug. 31.
Worthington Enterprises reported higher fiscal first-quarter sales and earnings while citing rapidly growing data center demand and continued tightness in the steel 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.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.