A bipartisan group of 36 members of Congress have expressed their concerns over potential tariffs on tin mill steel products. In a letter to the US International Trade Commission and Department of Commerce on June 12, the group said that the antidumping investigation on tin mill products brought forth by Cleveland-Cliffs earlier this year can […]
Steel Dynamics (SDI) is expecting stronger earnings for the second quarter of 2023 vs. the previous quarter, but lower than the year-earlier period. The Fort Wayne, Ind.-based steelmaker released Q2 earnings guidance on June 16 in the range of $4.78 to $4.82 per diluted share. This compares with Q1’s $3.70 per diluted share and prior-year Q2 […]
Nucor aims to increase base prices for new orders of steel sheet by at least $50 per ton ($2.50 per cwt), effective immediately. The Charlotte, N.C.-based steelmaker also said that its new base price for hot-rolled coil (HRC) was $900 per ton. “We reserve the right to review and re-quote any offers that are not […]
Nucor Corp. said its second-quarter earnings should beat those of the prior quarter on strength in all its business segments. The steelmaker expects its Q2 earnings to be in the range of $5.45 to $5.55 per diluted share. Although down from the $9.67 per share posted in Q2 last year, it’s an improvement upon Q1 […]
The solution to the dilemmas faced by Altos Hornos de México (AHMSA) is in the hands of the federal government, a spokesman for the Mexican steelmaker told a local news outlet. AHMSA spokesman Francisco Orduña was responding to comments last Friday by Mexican President Andrés Manuel López Obrador regarding restructuring the company’s debt, according to […]
Worthington Industries’ plan to split into two separate companies by early 2024 is full-steam ahead, and the man getting ready to helm the ship of the new Worthington Steel is Geoff Gilmore. Gilmore joined Worthington in 1998, and has served as EVP and COO since August 2018. He will be the CEO of Worthington Steel, […]
The US Department of Commerce’s International Trade Administration (ITA) is updating the antidumping duties on hot-rolled steel flats from South Korea. In an administrative review of the one-year period ended Sept. 30, 2022, the ITA set preliminary dumping margins of 0% for Hyundai Steel, Posco, and 45 other Korean companies not selected for individual examination. […]
U.S. Steel aims to increase base prices on spot orders of flat-rolled steel by at least $50 per ton ($2.50 per cwt.) The move is effective immediately and applies to “all open quotations and/or negotiations where an agreement is yet to be concluded,” the Pittsburgh-based steelmaker said in a letter to it sales executives on […]
Nucor said Wednesday the location of its second utility structures production facility will be in Crawfordsville, Ind. The Charlotte, N.C.-based steelmaker said the new operation it’s building will be located next to the Nucor Steel Crawfordsville steel mill, and is expected to create 200 full-time jobs. “With this second utility structure production facility, we are expanding our […]
Ohio-based Miami Valley Steel Service Inc. (MVSS) has named Nick Straka as its new president and CEO, effective July 1. The steel service center said Straka joined MVSS in 2005 in sales, and currently serves as the COO. He will be replacing Lou Moran, who will be stepping down as president and CEO after 14 years. […]
U.S. Steel published its 2022 Environmental, Social and Governance (ESG) Report in which the Pittsburgh-based steel maker said it has dedicated itself to creating sustainable steel and contributing to a greener economy. The report, titled “Essential for Our Future,” reaffirms how essential steel is to creating green technology such as wind turbines solar fields, and […]
The US and European Union are working on an agreement dealing with carbon emissions in the steel industry. The impact on bilateral trade could be high. In 2021, the US and EU agreed that the US would suspend the 25% Section 232 tariffs on steel and aluminum, and the EU would drop its World Trade […]
SSAB Americas, MidAmerican Energy, and Arcosa Wind Towers met on Tuesday, June 7, with Iowa governor Kim Reynolds to discuss increasing sustainable product solutions, highlighting the companies’ circular supply chain. All three companies are based in the state, with steelmaker SSAB Americas part of Swedish parent company SSAB; Arcosa Wind Towers making energy products; and […]
NLMK USA has published new, lower coating extras that are effective June 8. The steelmaker’s Sharon, Pa.-based galvanizing facility has reduced extras by an average of nearly 14%, according to market participants and the new coating extras sheet. NLMK’s prior extras had taken effect on Aug. 1, 2022. Our website reflects NLMK’s latest coating extras, as […]
General Motors Co. recently announced a series of investments to bolster its automobile manufacturing in the US – and it’s not all just for electric vehicles (EVs). Internal Combustion Engines The Detroit-based automaker plans to inject $1 billion into two of its manufacturing sites in Flint, Mich., for the production of heavy-duty trucks with internal […]
Bipartisan legislation was introduced in Congress on Wednesday to level the playing field for American workers. The Leveling the Playing Field Act 2.0 would enhance US trade remedy laws to protect American workers and “combat China’s unfair, anti-free market trade practices that distort the global market,” according to a release from Rep. Bill Johnson (R-Ohio). […]
General Motors will soon be sourcing low-carbon steel from ArcelorMittal North America. The steelmaker said it will provide the Detroit-based automaker with its XCarb™ recycled and renewably produced (RRP) steel made at its ArcelorMittal Dofasco plant in Hamilton, Ontario. Shipments are anticipated to begin in the current quarter, ArcelorMittal said in a statement. Made via […]
Sabel Steel Service Inc. has acquired Beaumont, Texas-based metals service center Sampson Steel Corp., effective Thursday, June 1. “Sampson Steel joins the Sabel Steel family with 107 years of history in the metals industry,” Keith Sabel, president and CEO of Sabel Steel, said in a statement via Linkedin. Stephen Eisen, previously president of Sampson Steel, […]
Steel Dynamics Inc. (SDI) has published new, lower coating extras that are effective July 3. The Fort Wayne, Ind.-based steelmaker has reduced extras by an average of 10%, according to market participants and the new coating extras sheet. SDI’s current extras took effect on Aug. 1, 2022. Under that schedule, a 0.07-0.054 G90 coating was […]
The US Department of Commerce issued the final results of its expedited sunset review of antidumping (AD) duties on steel plate from three Asian countries. The agency found that allowing the duties to expire would result in the continuation of dumping at significant rates. This is the fourth sunset review of the AD duties on […]
The sale of Mexican steelmaker Altos Hornos de México (AHMSA) has reportedly stalled because the investment capital has not yet been received, according to a local media report. The remarks were made by AHMSA’s Alonso Ancira Elizondo in a meeting he had with union officials in San Antonio, Texas, according to an article in Mexico’s […]
The debt ceiling deal passed by Congress has averted either an economic catastrophe or a minor headache, depending on who you talk to. It’s more likely that a pretty serious catastrophe was averted. But there was, in my view, never a serious chance that the US would default on its sovereign debt. More likely, some […]
Altos Hornos de México (AHMSA) workers and their wives demonstrated peacefully on Thursday, according to a local media report. Monclova Mayor Mario Dávila expressed solidarity with the workers who met on Thursday morning at the municipal presidency building looking for support, according to an article in El Periódico La Voz on Thursday. The action was taken because of […]
The US and EU affirmed their intention to reach a common framework on carbon emissions in steel and aluminum by October at the Trade and Technology Council (TTC) meeting in Luleå, Sweden, on Wednesday. At the meeting the EU and US said that via the Transatlantic Initiative for Sustainable Trade they are “strengthening engagement towards […]
The US will extend for another year an exemption for Ukrainian steel from Section 232 tariffs. “The United States has provided a much-needed market for the steel that Ukraine is able to export,” Commerce Secretary Gina Raimondo said in statement on Wednesday, May 31. “In doing so, Americans are directly supporting the people of Ukraine, […]
PGT Trucking has delivered its inaugural shipment of low-greenhouse gas (GHG) steel via electric vehicle from Nucor’s Brandenburg, Ky., plate mill to a nearby fabricator. The Aliquippa, Pa.-based flatbed transportation company said its truck was a Nikola Class 8 battery-electric vehicle. The three companies commemorated the first-ever shipment of low GHG intensity steel by a Class 8 zero-emissions […]
Swedish steelmaker SSAB is urging ambitious standards for the steel industry’s transition to green steelmaking as the EU-US Trade and Technology Council (TTC) meeting takes place in Luleå, Sweden, on May 30-31. Martin Lindqvist, president and CEO of SSAB, said that to succeed in the transition, effective frameworks, political leadership, and action are needed. “It is also […]
Nucor Corp. will keep plate prices unchanged with the opening of its July order book. The sideways move by the steelmaker comes after it increased plate prices in March and April, by $50 per ton ($2.50 per cwt) and $40 per ton ($2.00 per cwt), respectively, according to SMU’s steel mill price increase calendar. The Charlotte, N.C.-based steelmaker […]
Cleveland-Cliffs has been granted state mineral leases for over 2,600 acres of iron ore in Itasca County, Minn., the company announced on May 25. The leases are at the Nashwauk mine site located in the Iron Range region, just north of Grand Rapids, Minn. Cliffs said this approval is a final action and the company has now […]
Nucor announced a reorganization of its plate mill group, including the closure of Nucor Steel Longview and a production shift to its new mill in Brandenburg, Ky. The production phase out at the 100,000-ton-per-year mill in Longview, Texas, will occur in the third quarter of this year, Nucor said in a statement on Wednesday, May […]