Steel Dynamics’ earnings guidance for first-quarter 2019 was lower than analysts expected. SDI anticipates a decrease from the prior quarter as a result of lower earnings from its sheet operations. Expected earnings of $0.88 to $0.92 per diluted share will also be impacted by planned maintenance outages during the quarter. Although sheet earnings fell in […]
Latin American steel mill Ternium reported the highest annual EBITDA in its history last year at $2.7 billion, a 40 percent increase from 2017. Net income was $1.5 billion, driven by an 18 percent increase in sales and higher steel product shipments. Ternium’s Mexico segment shipped 6.5 million metric tons of steel in 2018, representing […]
Nucor anticipates earnings will decrease in the first quarter of 2019. In guidance remarks, the company cited lower average selling prices and margins in its sheet mill group for the decline. Said Nucor, “We believe that sheet pricing reached the low point during the first quarter and are encouraged by the impact of recent price […]
Air pollution is a growing concern for residents in Allegheny County near Pittsburgh. Sulfur dioxide levels and fine-particulate pollution have exceeded acceptable standards in the last several years. County health officials mostly blame emissions from U.S. Steel’s Clairton coke plant at Mon Valley Works as the cause. Allegheny County health officials report that the plant […]
U.S. Steel announced that it has accepted an award from the High-Performance Computing for Manufacturing Program (HPC4Mfg) Special Call: Steel and Aluminum, sponsored by the U.S. Department of Energy, to expand the company’s manufacturing capabilities for advanced high-strength steel. The winning U.S. Steel project, drafted by researchers Evgueni Nikitenko and Susan Farjami at U.S. Steel’s […]
Stelco, one of the most technologically advanced integrated steelmaking facilities in North America, will take another step forward in the technology realm. Stelco has signed an agreement with Canvass Analytics to use the Canvass AI software to transform operational data into “actionable intelligence.” “By partnering with Canvass Analytics, we are systematically transforming our facilities into […]
Algoma Steel announced today the appointment of Michael McQuade as Chief Executive Officer. McQuade will succeed Kaylan Ghosh who served as CEO prior to and during the restructuring of Algoma. “Mike has the skills and experience to lead Algoma in the next stage of its evolution as a leading Canadian steel company and globally competitive […]
After an accelerated decline in carbon and steel prices in the fourth quarter, spot prices bottomed in January and are now moving higher in the first quarter, said Ryerson President and CEO Eddie Lehner. Demand conditions appear favorable in the first part of 2019 despite weather interruptions in the early part of the year. Ryerson […]
The federal government of Canada announced it will give EVRAZ North America C$40 million ($29.78 million U.S.) from its Strategic Innovation Fund to help with C$112.6 million of upgrades planned at facilities in Regina and Red Deer, Alberta. “This will enable the company to produce valued-added OCTG products that match Canadian market demand and make […]
Altos Hornos de Mexico, S.A. (AHMSA), the largest steel producer in Mexico, reported that sales for fourth-quarter 2018 rose 6.5 percent year-over-year to $733.2 million. The improvement was due to stronger product mix and higher steel prices. The average steel sales price was $803 per metric ton. Adjusted EBITDA was $7.0 million, an 85.2 percent […]
U.S. Steel has been issued an enforcement warning by the Allegheny County Health Department for continued violation of air quality standards at the Mon Valley Works facility in Pennsylvania. A fire at the Clairton coke plant on Dec. 24, 2018, caused significant structural damage and damage to the equipment that cleans gases from the coke […]
Australian steel producer BlueScope has upgraded the expansion plans for its U.S. segment, now planning to add 900,000 to 1.0 million tons of capacity at North Star BlueScope at an investment cost of $600-$700 million. The Ohio steel facility will receive a third electric arc furnace with a melt capacity of about 1.5 million tons […]
A fire at ArcelorMittal Burns Harbor last night brought firefighters to the mill for the second time this month. No injuries were reported and the fire was contained by the Burns Harbor Fire Department. ArcelorMittal USA spokeswoman Mary Beth Holford stated in an email: “Around 9 p.m. last evening at ArcelorMittal Burns Harbor, casting conditions allowed […]
Reliance Steel & Aluminum reported record results in 2018, delivering the highest net sales in the company’s history at $11.53 billion. “2018 was an incredible year for Reliance, full of significant financial and operational milestones,” said Jim Hoffman, President and CEO of Reliance. “We experienced improved pricing conditions, healthy demand and excellent execution by our […]
Canadian steel company Stelco announced a new CEO and defied U.S. tariffs with a strong earnings report for the fourth quarter. David Cheney, formerly chief business development officer, will assume the mantle of CEO from Alan Kestenbaum who will continue to serve as Executive Chairman. Cheney will have executive responsibility for the company’s day-to-day business, […]
Development officials in Texas report that the Corpus Christi region is on the shortlist of preferred locations for Steel Dynamics’ new $1.8 billion steel mill. SDI announced last November that it planned to construct a new EAF flat rolled steel mill in the southwestern U.S. The facility will have an annual production capacity of 3.0 […]
The United Steelworkers and Bedrock Industries announced they will begin negotiations for a new collective agreement for workers at the Pointe-Noire iron pellet plant in Quebec. Bedrock Industries notified the USW of its intention to purchase and restart the facility. The pellet plant, formerly owned by Cliffs Natural Resources, closed in 2013 and is currently […]
Olympic Steel reported record sales for the fourth quarter and full-year 2018. The metals service center saw net sales jump 29 percent in 2018 to $1.7 billion on higher year-over-year volume and higher average prices in all three of its report segments. Operating income more than doubled in 2018 to $57.1 million, up from $24.0 […]
A strong economy and record profits are stimulating expansion in the U.S. steel industry. Often crediting President Trump for “leveling the playing field” with steel imports, companies like U.S. Steel and Nucor are taking the opportunity to reinvest their windfall in new and upgraded facilities. Adding capacity in a world that is struggling with steel […]
NLMK Pennsylvania says it is the “poster child for tariffs,” paying more than $160 million in duties for the steel slabs it utilizes at its operations. “I can’t imagine anybody paying more money in tariffs than we have,’’ said Bob Miller, NLMK Pennsylvania president in a recent comment to the Sharon Herald. NLMK Pennsylvania relies […]
“When, not if” has an official date from U.S. Steel President and CEO David Burritt. U.S. Steel has formally announced it will restart construction immediately on its Fairfield electric arc furnace facility. Construction on the EAF began at U.S. Steel’s Tubular operations in Fairfield, Ala., in March 2015 and was suspended in December 2015 due […]
Sales at NLMK USA fell 15 percent from third- to fourth-quarter 2018 on expectation of lower steel prices. Shipments dropped 500,000 metric tons from 590,000 tons, sequentially. The decrease in shipments, combined with a 3 percent decline in average price, led to sales falling 17 percent to $500 million. On a yearly basis, NLMK USA […]
Section 232 tariffs propelled ArcelorMittal to its best results in nearly 10 years, the company reported to analysts and investors today. The 25 percent tariffs on steel imports helped drive up steel prices, adding to company revenue from its U.S. assets. Average steel selling price in North America rose 15 percent year-over-year. Net income for […]
Union Partners has appointed former Big River Steel executive Mark Bula as Executive Vice President of Corporate Development. Bula served as Big River Steel’s chief commercial officer for six years helping to launch the company, developing their go-to-market strategy and directly managing all functional leaders. He exited the company in May 2018 and has received […]
ArcelorMittal Burns Harbor called firefighters to help control a towering blaze from a coke oven battery late Tuesday night. ArcelorMittal spokeswoman Mary Beth Holford said the plant “experienced a high voltage power interruption for a short duration” about 10:05 p.m. Tuesday. The outage triggered an emergency flare system that burned off excess coke oven gas, […]
Steel Dynamics Inc. announced it will acquire a 75 percent equity interest in Galvalume supplier United Steel Supply (USS), with an option to gain the other 25 percent in the future. United Steel Supply, Austin, Texas, is a leading distributor of painted Galvalume flat rolled steel used for roofing and siding applications. The company operates […]
U.S. Steel’s full-year net earnings nearly tripled from 2017 to 2018, but company executives were disappointed in fourth-quarter results for the Europe and tubular segments. Net earnings for the year totaled $1.1 billion compared to $387 million for 2017. Adjusted EBITDA was $1.76 billion compared to $1.15 billion a year ago, including $1.25 billion generated […]
AK Steel announced that it will permanently close its Ashland Works facility in Kentucky by the end of 2019. The blast furnace and hot end operations were idled in 2015, but AK Steel continued to operate a single hot-dip galvanizing coating line. Ashland’s 330,000 tons of loaded production will be transferred to other units in […]
Nucor Corp. surpassed expectations for 2018, reporting net earnings of $2.36 billion for the full year compared to $1.32 billion in 2017. Net sales jumped 24 percent to $25.07 billion due to a 5 percent increase in tons shipped and an 18 percent jump in the average sales price per ton. Nucor shipped 27.9 million […]
The big news for AK Steel this week was the closing of Ashland Works, but the company also posted remarkable financial results for full-year 2018. Sales in 2018 increased 12 percent to $6,818.2 million, generating net income of $186.0 million, a 25 percent increase from 2017. Increased sales were driven by higher carbon steel pricing […]