Features

Fruehauf lands role at robotics, AI firm Carnegie Foundry
Written by Ethan Bernard
October 8, 2024
Richard Fruehauf, formerly of U.S. Steel, has been named chief venture officer of robotics and AI firm Carnegie Foundry.
Fruehauf most recently served as senior vice president and chief strategy and sustainability officer of Pittsburgh-based U.S. Steel.
As previously reported, he left the steelmaker in June.
In his new role, Fruehauf will focus on securing key partnerships and investments to support new ventures.
“Having worked with Carnegie Foundry during my tenure at U.S. Steel, I was deeply impressed by its unique capability to deliver a continuous flow of significant innovations,” Fruehauf said in a statement on Monday.
“I am excited to now play a direct role in helping to bring pioneering IP to market,” he added.
Pittsburgh-based Carnegie Foundry said decarbonization and sustainability are among the key areas the company is targeting for future market entry.

Ethan Bernard
Read more from Ethan BernardLatest in Features

Apparent steel supply edged lower in April, remains strong
The amount of finished steel that entered the US market in April declined 3% from March but remained at elevated levels, according to SMU’s analysis of Department of Commerce and American Iron and Steel Institute (AISI) data.

Final Thoughts
Even before the news about Mexico, I didn’t want to overstate the magnitude of the change in momentum. As far as we could tell, there hadn’t been a frenzy of new ordering following President Trump’s announcement of 50% Section 232 tariffs. But higher tariffs had unquestionably raised prices for imports, which typically provide the floor for domestic pricing. We’d heard, for example, that prices below $800 per short ton for hot-rolled (HR) coil were gone from the domestic market – even for larger buyers.

Reibus closes down its online metals marketplace
The Atlanta-based company informed customers on Monday it is shutting down its metal division while continuing to operate the logistics business.

AISI: Raw steel production climbs to three-year high
Domestic steel mills are ramping up production, according to the American Iron and Steel Institute (AISI), with output rising to a three-year high last week.

April steel exports fall to lowest level since 2020
US steel exports totaled 579,000 short tons (st) in April, according to US Department of Commerce data. That's the lowest monthly volume recorded since July 2020.