Category: Market Segment

Klöckner & Co. logged a wider net loss in the first quarter on-year, but the Duisburg, Germany-based service center group expects higher shipments and sales in the upcoming three months.

Thyssenkrupp Materials Services is continuing its expansion in North America. It announced the opening of a new steel service center in Sinton, Texas, to primarily serve the automotive, HVAC, and construction markets.

Majestic Steel announced the completion of its flagship Majestic Steel Arkansas facility in Blytheville on the campus of Nucor Steel Hickman.

United Steel Supply plans to invest up to $10 million to open a steel processing and painting facility at the Ports of Indiana-Jeffersonville near Louisville, Ky.

United Auto Workers (UAW) members at Stellantis' Warren Stamping Plant in Michigan have voted to authorize a strike at the factory.

US raw steel output ticked up last week, according to the latest American Iron and Steel Institute (AISI) data.

The EU has approved Tokyo-based Nippon Steel Corp.’s (NSC’s) proposed buy of U.S. Steel, a report in Reuters on Monday said.

United Auto Workers (UAW) members have ratified a work contract with Daimler Truck North America.

Nucor started off May with a bang, dropping its weekly base spot price for hot-rolled (HR) coil by $65 per short ton (st) this week.

The election campaign is white-hot right now, and the Biden administration is touting its protectionist message. Just this past week, the Office of the US Trade Representative (USTR) touted this message. In a release entitled “What They are Saying,” USTR quoted many of the usual protectionist groups praising government action against Chinese steel exports and shipbuilding. Consuming industries in the United States, which employ many times the American workers as the industries seeking trade protection, were not mentioned.

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.