Category: Mills

Steel mill lead times pulled back across the board this week but are still said to be at healthy levels, according to SMU's market survey this week.

Canadian flat-rolled steelmaker Algoma Steel Group Inc. guided toward lower earnings in its fiscal 2024 third quarter, citing the United Auto Workers (UAW) strike and lower steel prices last fall.

Cleveland-Cliffs has appointed private-equity executive Ron Bloom to its board of directors, effective immediately.

Raw steel production in the US fell to a 38-week low to close out the last week of 2023.

Wilbur Ross doesn’t believe the proposed sale of U.S. Steel to Japan’s Nippon Steel poses any threat to the economic or national security of the US.

After meeting with Nippon Steel, the United Steelworkers (USW) union remains weary of the company’s proposed acquisition of U.S. Steel.

The latest American Iron and Steel Institute (AISI) production figures show domestic steel output slipping the week before the Christmas holiday. Domestic mills produced an estimated 1,693,000 net tons of steel during the week ended Dec. 23, AISI said. Output was down 1.2% from the previous week but was 7.4% higher than the same week […]

A White House official said the planned $14.1-billion acquisition of U.S. Steel by Japan's Nippon Steel deserved a closer look. President Joe Biden "believes the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability."

Metalformers remain optimistic about business prospects for the first quarter of 2024 despite some concerns about what Nippon Steel’s $14.1-billion deal for U.S. Steel might mean for domestic supply chains.

Political opposition to Nippon Steel Corp.’s (NSC) proposed purchase of U.S. Steel continues to build.

Domestic steel mill shipments dipped year-to-date (YTD) through October from a year earlier, according to revised American Iron and Steel Institute (AISI) data.

US Sens. JD Vance (R., Ohio) and John Fetterman (D., Pa.) have come out against the sale of U.S. Steel to Japan’s Nippon Steel.

Nippon Steel will acquire U.S. Steel in a deal valued at $14.9 billion, or $55 per share, the two companies announced on Monday morning. The Japanese steelmaker will keep U.S. Steel's iconic logo and its Pittsburgh headquarters, the companies said.

Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings sequentially and on-year, though the company said “steel order activity remains solid.”

U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.

U.S. Steel has resumed normal production of cold-rolled coil (CRC) at its Irvin Plant, part of the steelmaker’s Mon Valley Works in western Pennsylvania.

Lower prices and volumes will impact Nucor Corp.’s earnings in the current quarter, the steelmaker said in fourth-quarter earnings guidance on Thursday, Dec. 14.

U.S. Steel has received multiple bids valuing the company at more than $40 per share, CNBC reported on Wednesday.

U.S. Steel will continue to operate the hot strip mill and finishing lines at its Granite City Works in southern Illinois.

Movements in lead times were mixed in SMU’s check of the market this week – a reflection of the seasonal dip in ordering that is typically seen during the winter holiday season.

TimkenSteel has begun utilizing AI software from Worlds to gain insight into its steel manufacturing processes.

AM/NS Calvert will continue providing hot rolling tolling services for Outokumpu for the time being.

Raw steel production in the US rose in the week ended Dec. 2, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 4.

The Biden administration’s climate ambitions are laudable. Buy Clean programs have the potential to meaningfully reduce CO2 emissions, supporting the American steel industry and its workers.  Buying clean steel In February 2022, the administration launched the federal Buy Clean initiative and established its Buy Clean Task Force. These programs prioritize the use of American-made, low […]

CRU analysts share an update on the aluminm markets.

Worthington Industries has completed its split into two separate companies: Worthington Steel Inc. and Worthington Enterprises Inc.

The Canadian government has given ArcelorMittal-linked Baffinland Iron Mines permission to dispatch up to 6 million metric tons per year from its Mary River mine in Nunavut territory, higher than the 4.2 million metric tons per year previously permitted. The approval from northern affairs minister Dan Vandal allows Baffinland to make the extra shipments if […]

Algoma Steel’s CEO Michael Garcia joined SMU Managing Editor Michael Cowden for a Community Chat on Wednesday, Nov. 29. A great discussion was had on topics ranging from plate pricing to decarbonization efforts, raw materials strategies, and more.

US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.

Bids for U.S. Steel are due on Friday, according to sources familiar with the matter. Friday is also allegedly when a non-disclosure agreement (NDA) between Cleveland-Cliffs Inc. and the Pittsburgh-based steelmaker expires.