Category: Market Segment

Nucor broke ground on a new galvanizing line at its Nucor Steel Berkeley sheet mill in Huger, S.C., on Thursday, May 2.

Olympic Steel logged lower earnings in the first quarter of 2024, but the company said all three of its segments contributed to profitability.

The sale of U.S. Steel Corp. to Nippon Steel Corp. has been delayed by the US Department of Justice’s antitrust investigation. The Justice Department, which is conducting an antitrust review of the merger, has requested additional information from both USS and NSC. The companies originally anticipated closing the sale in the second or third quarter […]

U.S. Steel posted slightly lower Q1’24 earnings as stronger earnings from its sheet mills were partially offset by a weaker performance from it tubular division. All told, the Pittsburgh-based steelmaker reported Q1’24 earnings of $171 million. That's down 14.1% from $199 million in Q1’23 on sales that fell 6.9% to $4.16 billion in the same comparison.

Northwest Pipe’s profits more than doubled in the first quarter on-year, as the company expects a strong remainder of the year in both its steel pressure pipe and precast segments.

ArcelorMittal posted a narrower Q1’24 profit compared to Q1’23 but remained optimistic about steel's long-term demand prospects.

Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.

Russel Metals’ earnings fell in the first quarter, but the Toronto-based metals distributor sees steel prices stabilizing in the near term and staying above historical averages.

Ryerson swung to a loss in the first quarter of 2024, but the company’s chief executive sees less volatility in the sheet steel market.

United Auto Workers (UAW) members at a Stellantis plant in Michigan have health and safety grievances so severe they are considering going on strike.

The National Labor Relations Board (NLRB) has certified the results of the election of Volkswagen workers to join the United Auto Workers (UAW) union in Chattanooga, Tenn.

Daimler Truck North America and the United Auto Workers (UAW) union have reached tentative bargaining agreements covering over 7,000 US workers at various locations in the South.

Solar tracker maker Nextracker and steel processor JM Steel announced the completion of an expansion of Nextracker-dedicated manufacturing lines at JM’s Leetsdale steel facility near Pittsburgh.

Nucor lowered its weekly base spot price for hot-rolled (HR) coil by $10 per short ton (st) this week.

Cleveland-Cliffs Inc. would still be interested in acquiring some or all of U.S. Steel’s assets, if the proposed deal by Nippon Steel stumbles, according to an article in Bloomberg.

Steelmaking currently accounts for approximately 8% of global greenhouse gas emissions. The only way to achieve net zero goals is to significantly reduce steel emissions worldwide. And there is no way to do that without recycling.

Reliance Inc.’s earnings slumped in the first quarter of 2024, but the company expects better than normal seasonal recovery in demand in the second quarter.

Destocking at service centers and a downturn in steel pricing impacted Ternium’s shipments in Mexico in the first quarter of the year.

Algoma Steel Inc. expects to wrap up a previously announced outage on its plate mill by the end of this month, a company spokeswoman said. The outage is part of the Canadian flat-rolled steelmaker’s $130 million CAD ($95 million USD) modernization project. It began in mid-April.

Steel Dynamics Inc. (SDI) executives said the company's Sinton, Texas, sheet mill should be able to increase melt capacity after an outage earlier this month. Sinton should see "additional improvements in production" after taking "several maintenance days in April," Barry Schneider, SDI president and COO, said in a Q1 earnings conference call on Wednesday.

Lower demand and prices for steel plate impacted SSAB Americas’ results in the first quarter, Swedish parent company SSAB said in its Q1'24 interim report.

Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.

With strength in the sector and customers needing the product it produces, Cleveland-Cliffs’ chief executive says the company will be more selective with the automotive customers it chooses to serve.

Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.

Nucor executives explained their recently introduced hot-rolled (HR) coil consumer spot price (CSP) is a way to serve their customers and deal with market volatility.

Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]

Global steel output jumped 8.3% in March, according to World Steel Association’s (worldsteel's) latest release. Production is now at the highest level seen in 10 months, rebounding from a near six-year low observed just three months prior.

Cleveland-Cliffs’ chief Lourenco Goncalves and US Secretary of Energy Jennifer Granholm stressed the importance of the US steel industry and domestic manufacturing at Cliffs' Butler Works in Pennsylvania on Monday.

Lapham-Hickey Steel has acquired the operating assets of Crystal Steel Corporation of Middleton, Mass., for an undisclosed sum.

Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.