U.S. Army General Lloyd J. Austin III has been elected to the Nucor board of directors, effective Sept. 18.
General Austin, 64, retired as a four-star general in 2016 after nearly 41 years with the U.S. Army. From March 2013 through March 2016, he served as the commander of U.S. Central Command responsible for military strategy and joint operations throughout the 20-country Central Region that includes Iraq, Syria, Iran, Afghanistan, Pakistan, Yemen, Egypt and Saudi Arabia. Prior to that he served as the 33rd Vice Chief of Staff of the Army from January 2012 to March 2013 and as the Combined Forces Commander in Iraq from September 2010 through the completion of Operation New Dawn in December 2011.
The U.S. Commerce Department today announced an affirmative preliminary determination in the countervailing duty investigation on exports of metal tool chests and cabinets from China. Commerce calculated preliminary subsidy rates ranging from 17.32 percent to 32.07 percent.
Seven out of 10 respondents to the latest Steel Market Update market trends questionnaire feel the United States should not withdraw from the North American Free Trade Agreement. Less than 30 percent say the U.S. should follow through on its threats to pull out of the trade pact if it does not win concessions from Canada and Mexico.
What happens to all those autos ruined by the double whammy of hurricanes in the South? Cox Automotive estimates 300,000 to 500,000 cars were damaged by Hurricane Harvey. Auto-market researcher Black Book puts the total in Texas closer to one million. And millions more could be added to the toll after Hurricane Irma is tallied.
"We reviewed damage numbers in both (Hurricane) Katrina and (Superstorm) Sandy, which were the most comparable storms. We looked at the reporting of wide-spread flooding, which more resembled Katrina than Sandy. We took into account the high vehicle density and the dependency on vehicles in Houston," said Jonathan Smoke, chief economist for Cox Automotive, in a media conference call.
Reliance Steel & Aluminum Co., Los Angeles, reports that its operations in the Houston area suffered no material damage to facilities, equipment or inventories because of Hurricane Harvey. Many facilities were closed and unable to ship for most of last week due to the catastrophic flooding, but are now reopened and operational.
Toronto-based Russel Metals, Inc., has acquired Color Steels, Inc., a service center that processes and distributes pre-painted metals from facilities in Thornhill, Ontario, and Laval, Quebec.
David Sanderson will continue as president of Color Steels, along with the current management team. Color Steel’s revenues for the last year totaled approximately $45 million.
Over the past three days, Steel Market Update (SMU) had all hands on deck for our 7th SMU Steel Summit Conference. The conference was once again held at the Georgia International Convention Center next to the Atlanta International Airport.
We had record attendance with 661 steel and manufacturing executives registered compared to 434 last year. There were 309 companies registered from the United States, Canada, Mexico, the United Kingdom, Egypt, Japan, Ecuador and Poland.
Here are what a number of manufacturing companies, steel service centers and members of the financial community had to say about our conference.
André Gerdau Johannpeter has resigned as the chief executive of Gerdau SA, one of the largest steelmakers in the Americas, as members of the founding family exit from the company’s executive management. Gostavo Werneck, head of Gerdau’s Brazil operations, will replace him in January.
Driven by a steep drop-off in shipments from Brazil, U.S. steel imports fell 11.5 percent from June to July. Despite the monthly decline, the 3.47 million net tons of imports were still up 6.3 percent compared to July of last year, reports the American Institute for International Steel, Alexandria, Va.
ArcelorMittal’s three plate facilities in the United States—Burns Harbor in Burns Harbor, Ind., and Coatesville and Conshohocken in Pennsylvania—have each achieved DNV-GL certification, which will allow the company to expand business opportunities domestically and internationally for its plate products.
DNV-GL (Germanischer Lloyd) is a classification society that sets rules and standards for industries, especially maritime-related markets. They establish best practices by means of quality codes, standards and documentation. These criteria ensure manufacturing compliance and allow conditions whereby warranties and insurance criteria are met.