Ryerson Holding Corporation has appointed James Claussen as executive vice president and chief financial officer, effective Jan. 11. Claussen joined Ryerson in 2002 and has held several senior management and leadership positions including CFO of Ryerson’s North-West Region and general manager of corporate development. He was named president of Central Steel & Wire Co. following […]
Most new U.S. flat-rolled electric-arc furnace steelmaking capacity won’t start up until the second half of this year, which could have big implications for spot hot-rolled coil prices. The back-ended nature of the capacity add means the market might sustain hot-rolled coil prices of $1,000 per ton or more longer than many buyers believe, industry sources […]
Big River Steel is running the new, second line at its steel mill in Osceola, Ark., at close to 90% of its rated capacity. “Big River Steel expected and has had another record startup in terms of its second furnace and caster,” said a company spokesperson in an email to Steel Market Update. The company […]
Esmark Steel Group has a new chief executive officer as of Jan. 1. Roberto M. Alvarez has been appointed CEO after serving as executive vice president and a member of the Esmark Board of Directors. “We believe that Roberto’s years of experience, not only with Esmark but also within the broader steel industry, position him […]
NLMK USA and striking workers at its operations in western Pennsylvania appear no closer to a labor accord than they were more than four months ago. And the two sides remain at loggerheads despite near-record hot-rolled coil prices and despite slab being available following the reset of the Section 232 quota on Brazilian semi-finished goods. […]
JSW Steel USA has begun to recall workers at its idled sheet mill in Mingo Junction, Ohio, as well as at its idled plate and pipe mills in Baytown, Texas, the company’s top executive said. “We still intend to start up both facilities in March,” JSW Steel USA CEO Mark Bush told Steel Market Update […]
Residents in Hamilton, Ontario, were startled by explosions and reddish-brown smoke emanating from ArcelorMittal Dofasco on Christmas day. At around 11:10 a.m., a reaction between water and liquid iron ore occurred during the slag casting process at the No. 4 blast furnace, creating a series of eruptions and air emissions. There were no injuries from […]
ArcelorMittal North America will invest $18.5 million (CAD $24 million) to add capability to ArcelorMittal Dofasco’s No. 5 Hot-Dipped Galvanizing Line. The investment will allow Dofasco to add Aluminum Silicon (Alusi®) to its patented Usibor® Press Hardenable Steel for use in automotive structural and safety components. “The addition of Alusi® Coated Usibor® capacity at ArcelorMittal […]
ArcelorMittal and Nippon Steel Corp. have committed to building an electric arc furnace at AM/NS Calvert, reducing the mill’s reliance on imported slabs. The companies signed a definitive agreement on Monday to construct the 1.5 million MT (1.65 million ton) EAF at a cost of $775 million. Construction will begin in 2021 with initial production […]
The Nucor and Duferco joint venture has officially ended. The financial closing papers were signed on Dec. 21 marking the end of a 12-year partnership between the Italian firm and Nucor. Said Antonio Gozzi, Duferco Italia Holding president, “These have been 12 remarkable years of productive collaboration with the first U.S. steel producer, years in […]
U.S. Steel is optimistic about its financial outlook for 2021. The addition of a strong performer to their portfolio with the acquisition of Big River Steel and improved demand and higher prices in the fourth quarter bode well for the new year. Positive EBITDA is expected in the flat rolled segment for the fourth quarter, […]
Steel Dynamics announced leadership appointments for its new Sinton Mill, Columbus Flat Roll Steel Division and a new position for SDI’s flat roll steel metallics strategy. Dennis Black will become the General Manager of the Southwest-Sinton Flat Roll Division, effective Feb. 1, 2021. Black will be responsible for operations at the new Sinton Texas Flat […]
Nucor will have a new Chief Operating Officer, David A. Sumoski, effective Jan. 1, 2021. Sumoski, currently Executive Vice President of Bar, Rebar Fabrication and Construction Services, joined Nucor in 1995 as an electrical supervisor at the Berkley facility and later as Maintenance Manager. He served as Vice President and General Manager of Nucor Steel […]
Steel Dynamics Inc. reported that fourth-quarter 2020 earnings will be significantly higher than third quarter, driven by flat roll metal spreads and steady steel shipments. Average steel prices for the quarter are expected to offset increased scrap costs. Demand remains good, particularly in automotive and construction. “Strong demand coupled with historically low steel inventories throughout […]
Nucor expects improved fourth-quarter earnings due to higher pricing of sheet and plate as well as strong results at its bar and structural mills. Profitability for the steel products segment is expected to decrease modestly, consistent with typical seasonality. The raw materials segment will benefit from higher prices for raw materials and improved financial performance […]
Worthington Industries reported net sales of $731.1 million and a net loss of $74 million for the second quarter of its fiscal 2021 ended Nov. 30 after accounting for nearly $150 million in pre-tax loss related to its investment in Nikola Corp. and $11.4 million in impairment and restructuring charges. In comparison, sales were $826.6 […]
Commercial Metal Company’s micro mill in Mesa, Ariz., has begun receiving renewable energy from the Salt River Project solar electricity generation plant. The Saint Solar 100-megawatt utility-based solar array is located in Coolidge, Ariz., and will provide renewable energy to CMC Steel Arizona and others in the SRP community. CMC Arizona, constructed in 2009, uses […]
Scrap recycling and brokerage firm David J. Joseph Company, a Nucor subsidiary, has promoted Mark Schaefer to president, effective Jan. 1, 2021. Schaefer succeeds Craig Feldman who will remain an executive vice president based in Charlotte, N.C. Schaefer joined DJJ in 1985, serving in number of positions including executive vice president of both the recycling […]
Not only are wholesalers who service the HVAC and construction industries wondering how high galvanized steel prices can possibly go, they’re even more worried about how low prices could go once the market normalizes next year. In a conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) reported firm […]
Majestic Steel has completed the acquisition of P&S Metals and Supply, a Las Vegas-based steel service center and processor. The addition of P&S will extend Majestic’s footprint in Nevada and the western United States. “We are happy to welcome P&S Metals and Supply to the Majestic family,” said Todd Leebow, Majestic President and CEO. “P&S […]
Olympic Steel has hired Jeffrey A. Carson as General Manager for the Bettendorf, Iowa, facility. Carson will be responsible for growing the facility’s temper mill processing, fabrication and metal distribution in the region and will report directly to Thomas Sacco, Regional Vice President. Carson has more than 30 years of experience in manufacturing operations management, […]
Olympic Steel has acquired the assets of Action Stainless & Alloys, Inc., adding the Dallas, Texas-based distributor to its Specialty Metals business segment. Action Stainless & Alloys is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing and pipe and offers a range of processing, including plasma, laser and […]
Cleveland-Cliffs has finalized the acquisition of ArcelorMittal USA and its subsidiaries, creating the largest flat-rolled steel producer in North America. As agreed, ArcelorMittal received $505 million in cash and 78 million shares of Cleveland-Cliffs common and non-voting preferred stock, redeemable for 58 million shares of common stock or equivalent cash. In return, Cleveland-Cliffs assumes all […]
U.S. Steel has acquired the remaining 50.1 percent stake in the Big River Steel mill in Osceola, Ark., paying $774 million in cash, giving it full ownership of one of the most advanced flat-rolled minimills in the United States. U.S. Steel paid $700 million for a 49.9 percent share in BRS in 2019, making its […]
Nucor’s Plate Group announced new, higher pricing on all its plate products on Monday. The mill no longer offers a delivered price for plate. “To continue providing an increased level of clarity and transparency in our plate product pricing, the Nucor Plate Group is now publishing our pricing on an ex-works (EXW) basis,” stated Nucor’s […]
United Steelworkers at NMLK Pennsylvania received an updated contract proposal from the company on Nov. 25 in hopes of resolving the four-month strike. The latest offer addresses several concerns of the bargaining committee. To address wage demands, NLMK will commit to an incentive system based on tons shipped that will “enable the employees to get […]
Cleveland-Cliffs received the all-clear signal from the Federal Trade Commission to move forward with the acquisition of ArcelorMittal USA. Cleveland-Cliffs expects the transaction to complete before the end of the year. “We are pleased that the federal antitrust authorities have cleared our transaction ahead of schedule. With that, we have a clear path toward closing […]
How do you recover from a catastrophic blast furnace explosion? That was the challenge for Operations Technology Manager Blake Crisman at ArcelorMittal Burns Harbor following the incident at Blast Furnace D in July. What at first glance looked like a three-month project to restart the furnace was whittled down to just three weeks through a […]
Two recent steel mill issues have taken steel capacity out of the market, further tightening supply. Sources report that a COVID-19 outbreak at ArcelorMittal Burns Harbor has disrupted production affecting “at least” 50,000 tons. Customers report they have been told some January orders will be delayed until February and new orders for February may not […]
Much has changed since Flack Global Metals announced its plan a year ago to build a new painting and processing center adjacent to Big River Steel in Osceola, Ark. Minority shareholder U.S. Steel plans to buy the rest of BRS. Competitor Nucor got into the prepaint business with its purchase of Precoat Metals’ nearby Armorel, […]