Steel Blog

Essar Steel Algoma's CEO Resigns

Tuesday, 30 October 2012 09:08

Essar Steel Algoma released the following report:

Essar Steel Algoma Inc. announced today that Mr. James Hrusovsky, Chief Executive Officer has tendered his notice of resignation

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The SSAB Americas business had a weaker third quarter than the previous one with rolling capacity utilization rates of 85-90%.

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The speakers at this year’s annual fall conference for the Association of Steel Distributors (ASD) probed a number of subject areas key to the steel industry and specifically to distributors. The first day of the conference was highlighted by an excellent panel of large distribution companies with Keith Busse as both moderator and participant

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Written by: Andre Marshall, Crunchrisk LLC

The last week has been significant in the financial markets. We have given up 4% since Oct. 18th in SP 500, 5.5% in Copper, approx 3% in Gold and 8.5% in Crude.

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Severstal NA was awarded by the AIST; read below for the full press release from Severstal:

DEARBORN, Mich. October 24, 2012 – Severstal North America, one of the largest U.S.-based flat-rolled steel producers, is pleased to announce that it was selected as the Gold Medal winner of the 2012 Association for Iron and Steel Technology (AIST) Reliability Achievement Award. The award, open to all

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Over the weekend, Steel Market Update (SMU) adjusted our Price Momentum Indicator from Neutral to Higher, as we now believe the domestic steel mills will be able to collect higher prices in the coming 30 to 60 days and perhaps longer

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As Steel Market Update has been reporting for some time, steel prices have reached a plateau, and there are even some signs of easing. This is clearly evident in the US, especially on the flat rolled side, but also in many areas overseas, including China


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Construction employment rose in 30 states and the District of Columbia during September 2012 according to a figures reported by The Associated General Contractors of America (AGC).

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Steel Market Update (SMU) conducted our mid-October steel market survey inviting just fewer than 700 companies across North America to participate. Based on the results from our survey our SMU Steel Buyers Sentiment

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It hasn’t taken the U.S. based steel mills very long to jump on the U.S. Steel bandwagon and follow suit with price announcements of their own. So far, Steel Market Update (SMU) is aware of price announcements out of the following mills: US Steel, AK Steel, Nucor, California Steel, NLMK USA, ArcelorMittal USA and Severstal NA. All raised base prices on flat rolled products by $40 per ton

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