Pacesetter and Nippon Steel & Sumikin Bussan Americas are joining forces to build a new, world-class steel service center in Houston. The strategic partnership will strengthen NSBA’s and Pacesetter’s position in key growth markets in the Southwestern U.S. and Mexico. The partnership is a strong strategic fit, said the companies, leveraging their respective strengths. NSBA […]
Nucor is increasing its presence in Mexico with the acquisition of Corporacion POK, a fully integrated precision castings company with a facility in Guadalajara. “Our company has had a presence in Mexico for more than a decade. We know the market and the customers there. This acquisition supports Nucor’s strategy in Mexico, which is focused […]
United Steelworkers have ratified a new four-year contract with ArcelorMittal three months after their last contract expired. The new labor agreement raises wages by about 14 percent over the next four years while improving benefits, retirement provisions and contract language. The agreement covers roughly 15,000 hourly workers at 14 facilities in Illinois, Indiana, Ohio, Pennsylvania […]
Steel Dynamics made big news on Monday, announcing it will construct a new $1.8 billion electric arc furnace flat roll steel mill in the United States. The mill will have an annual production capacity of approximately 3 million tons and the capability to produce the latest in advanced high-strength steels. The facility will include value-added […]
In response to widespread concerns about the pace, transparency and fairness of the Section 232 steel and aluminum tariff exclusion process, a bipartisan group of senators has requested that the Government Accountability Office conduct an independent review of the Commerce Department’s performance. In a Nov. 26 letter to the GAO, U.S. Senators Doug Jones (D-Ala.), […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: On Nov. 21, the WTO Dispute Settlement Body conducted its regular monthly meeting. The DSB is composed of all WTO members and oversees cases brought under the WTO Dispute Settlement Understanding. That is one of the 23 WTO […]
Nucor has selected Austria’s Andritz Group to supply the new hot dip galvanizing line at its Hickman, Ark., mill. The new line, announced by Nucor in May, will have an annual capacity of approximately 455,000 metric tons and is designed to produce high-strength steel grades, mainly for the automotive industry. Start-up is scheduled for the […]
Nucor’s $650 million investment to expand the production capability of its Ghent, Ky., mill will transform the former Gallatin Steel plant into an ultra-modern “quality strip production” plant or QSP, claims Danieli, the Italian company that will design and install the new mill equipment. The project will nearly double the annual production capability of Nucor […]
The North American auto industry is urging the White House to drop the Section 232 tariffs before the official signing of the U.S.-Mexico-Canada Agreement (USMCA). During testimony last week before the International Trade Commission, the Motor and Equipment Manufacturers Association, Alliance of Automobile Manufacturers and the American Automotive Policy Council asked the administration to exempt […]
Norfolk Iron & Metal Co., a full-line steel service center, and O’Neal Industries Inc. (ONI), the largest family-owned group of metals service centers in the United States, have entered into a definitive agreement in which Norfolk Iron will acquire O’Neal Flat Rolled Metals, LLC, a wholly-owned subsidiary of ONI. The companies expect to close the […]
Tariffs are turning out to be a boon for U.S. ports, at least temporarily, as retailers and manufacturers rush to get products to the U.S. before new tariffs on China go into effect in January. Ports reported record cargo volumes in the past few months. The Port of Los Angeles set a cargo handling record […]
Despite paying CAD $39 million in tariffs on 24 percent of its shipments, Canadian steel producer Stelco turned in a stellar performance in third-quarter 2018. Stelco reported third-quarter revenue of $619 million, 84 percent higher than a year ago due to a 43 percent increase in steel shipping volumes and a 24 percent increase in […]
The first major winter storm of the 2018-2019 season is currently making its way up the East Coast, which means it is time to start thinking about the navigation on the Great Lakes. Right now, iron ore and coal ships are busy supplying steel mills in the Great Lakes region with enough inventory for the […]
Industrial Metal Supply Co., a full-line metals distributor in the Southwest, has named David Pace as its new president, effective immediately. Pace will have responsibility for the Sun Valley, Calif., company’s strategic direction and growth initiatives and will report directly to owner Neil Sherman. Pace is a 23-year veteran of Industrial Metal Supply and since […]
United Steelworkers voted overwhelmingly to ratify a new four-year contract with U.S. Steel. Workers will receive a 14 percent raise over the life of the contract, while keeping affordable health care coverage and gaining stronger retirement benefits. “In 2015, workers recognized that the steel industry was struggling and agreed to make sacrifices so that U.S. […]
Imagine being told to create a steel mill out of an empty field in Arkansas. How would you even begin? That was the challenge presented to Lenore Trammell, Chief Compliance Officer at Big River Steel. Moving from Detroit to the rural South, Trammell plunged herself into securing construction contracts and building a team that could […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: It’s worth a moment to reflect on the end, one century ago today, of the First World War, “the war to end wars.” The Armistice led to a bitter peace and another even more destructive war, the effects […]
Olympic Steel executives reported record results in the third-quarter and hopes for more of the same next year, with the possible support of a new federal infrastructure bill. “Based on the results of this week’s election, we are optimistic our nation’s pro-growth agenda remains on track and that the industrial sector’s recovery will continue to […]
Toronto-based Russel Metals reported “stellar” results for its third quarter, attributing the company’s success to a high steel price environment and improved demand in all three of its business segments: service centers, energy products and steel distributors. Trade actions by government authorities have increased steel prices, which has benefited both producers and distributors. However, these […]
Class 8 truck orders rose in October, reaching 43,000 units for the 10th best month ever. Orders were up 2 percent from September and 19 percent from a year ago. Robust freight volumes have kept truck capacity utilization tight, driving stronger build rates for new vehicles. “October is traditionally the start of the next year’s […]
ArcelorMittal expects no disruption in service as a result of a minor fire at its Indiana Harbor 4 Steel Producing (4SP) operation on Monday afternoon. One employee was treated for minor burns following a fire that resulted when slag was dumped onto an area containing water. “Indiana Harbor 4SP remains in production, and we do […]
Reporting a profitable third quarter, Essar Steel Algoma is moving closer to emergence from bankruptcy. The Canadian steel producer announced income from operations for the three-month period ending Sept. 30 of C$107.9 million, up from income of C$74.3 million in the same period of 2017. Algoma’s steel shipments rose 6.3 percent year-over-year to 620,137 tons. […]
Olympic Steel Inc. announced the promotion of Terry J. Rohde to Vice President – Operations and Matthew A. Grussing to General Manager of the company’s Minneapolis Plate Division. Rohde began his career at Olympic Steel in 2001 as Operations Manager at the company’s Minnesota Coil facility. In 2004, he transitioned to Sales Manager at the […]
SSAB Americas has announced the retirements of two long-standing, distinguished members of the company’s senior executive team: Steve Hansen, Vice President and Chief Technical Officer, and Paul Wilson, Senior Advisor to Operations. Wilson’s retirement will be effective Feb. 1, 2019, and Hansen’s retirement will be effective March 1, 2019. Hansen has been with SSAB for […]
United Steelworkers and ArcelorMittal have reached a tentative agreement on a new four-year labor contract after months of negotiating. USW International President Leo Gerard and USW District 1 Director David McCall praised the union’s hard work, dedication and solidarity during the bargaining period. “Through their hard work and sacrifices to improve the productivity and efficiency […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Summary of Section 232 Exclusion Data As of early October, according to a comprehensive analysis by the Mercatus Center at George Mason University, there have been 30,916 tariff exclusion requests for steel products. There have been 14,356 objections, […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Commentators and administration officials have filled the airwaves with speculation about the future course of the U.S.-China “trade war” over the last few weeks. Today, I provide a brief assessment of where this might be going. Memories of Lenin’s […]
Metals distributor Ryerson Holding Corp. reported a revenue gain of 44.6 percent year-over-year to $1.25 billion for the third quarter of 2018. Revenue was up 18.2 percent compared to the second quarter, driven by an increased average selling price and higher volume shipped. Net income attributable to Ryerson Holding Corp. was $77.5 million for the […]
U.S. Steel earnings were in line with expectations for the third quarter. U.S. Steel reported net earnings of $291 million compared to $214 million in the second quarter and earnings of $147 million in Q3 2017. Net sales rose 14.8 percent year-over-year to $3.7 billion. Adjusted EBITDA of $526 million improved by $169 million compared […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: When is a product from Japan instead of China? Turns out, it depends on why you’re asking. For purposes of the required “marking” of imported products, U.S. Customs and Border Protection decides whether a product composed of several […]