A deal may be in the works for Brazilian steelmaker Cia Siderugica Nacional (CSN) to sell its U.S. operations to Steel Dynamics (SDI). Brazilian media reported that the sale price would be at least $250 million, and probably more, for CSN’s cold rolling and galvanizing facility in Terre Haute, Ind. American Metal Market suggests the […]
U.S. Steel Corp. says its asset revitalization program is working as evidenced by net sales of $3.14 billion and net earnings of $18 million for the first quarter of 2018. Earnings before interest and income tax for the flat-rolled segment were $33 million in Q1 compared to a loss of $88 million in first-quarter 2017. […]
Steel producer Ternium reported shipments of 3.5 million tons in first-quarter 2018, a 3.0 percent increase from the fourth quarter and a 42 percent jump from Q1 2017. Higher steel prices pushed revenue up $45 per ton. Higher shipments were a result of a 160,000-ton increase in Mexico that was offset by a 48,000-ton decrease […]
Reliance Steel & Aluminum reported record sales of $2.47 billion and record shipments of 1.6 million tons in the first quarter of 2018. “The positive pricing and demand fundamentals experienced in the fourth quarter of 2017 continued through the first quarter of 2018, with pricing momentum building throughout the quarter,” said President and CEO Gregg […]
ArcelorMittal Dofasco is undertaking a massive upgrade to its hot mill operations to improve quality and productivity. With help from a $23 million grant and loan from the province, ArcelorMittal is investing $151 million to develop advanced high-strength steels that are in demand by the auto industry. The Canadian steelmaker will replace three aging coilers […]
Big River Steel has signed an option agreement with the Board of Commissioners of the Port of Brownsville to bring a $1.6 billion steel mill and distribution facility to south Texas. The agreement gives Big River Steel the option to lease 800 acres between the Brownsville Ship Channel and State Highway 48. The facility will […]
NLMK Group reported a 1 percent increase in first-quarter revenue, to $2.79 billion, as a 5.0 percent seasonal drop in sales was offset by stronger pricing. Net income grew by 17 percent from Q4 to $502 million, driven by higher operating profit. NLMK USA sales increased 1.0 percent from the fourth quarter on higher demand for […]
Steel Dynamics reported a very strong first quarter with record shipments in the flat rolled division and a 94 percent utilization rate, well above the domestic industry average of 76 percent. Demand and product pricing improved across SDI’s entire steel platform. Net sales totaled $2.6 billion for the quarter and net income was $228 million. […]
Nucor Corp.’s first quarter 2018 consolidated net sales increased 9 percent from the previous quarter to $5.57 billion. Total tons shipped jumped 6 percent to 6.967 million tons. Consolidated net earnings were $354.2 million. Earnings in the steel segment improved in the first quarter due to higher steel prices and an 8 percent increase in […]
Service center shipments of carbon plate increased in March, while shipments of flat roll and tubular products declined, compared with the same month last year, according to the Metals Service Center Institute’s March Metals Activity Report. Overall, service center shipments saw an improvement in March from the prior month. U.S. service centers shipped 3.596 million […]
The high price of galvanized steel has not dampened demand, at least not yet, say distributors of HVAC products, who report continued strong market conditions. “The market is somewhat back to normal, just at dramatically higher transaction prices,” commented one member of the Heating, Air-conditioning, and Refrigeration Distributors International (HARDI), during the trade group’s monthly […]
NLMK announced operating results for first-quarter 2018. NLMK Group steel output totaled 4.33 million metric tons, a 3 percent increase year-over-year. Group sales totaled 4.15 million metric tons, up 13 percent from Q1 2017. Capacity utilization grew 3 percentage points to 99 percent for the quarter. Steel slab sales to NLMK USA and NLMK Dansteel […]
Steel shipments by Canadian service centers in March totaled 435,600 net tons, up 13.6 percent from February, and up 3.4 percent from March 2017, reports the Metals Service Center Institute (MSCI). This is the highest monthly shipment level seen since June 2015 when 437,000 tons were shipped from Canadian service centers. On a daily basis, […]
ArcelorMittal said it will sell off assets in order to secure its acquisition of Italian steel mill Ilva. The proposed divestment package includes: ArcelorMittal Piombino, the company’s only galvanized steel plant in Italy ArcelorMittal Galati, Romania ArcelorMittal Skopje, Macedonia ArcelorMittal Ostrava, Czech Republic ArcelorMittal Dudelange, Luxembourg Hot-dipped galvanizing lines 4 and 5 in Flemalle; hot-rolled […]
Nucor Executive Vice President of Raw Materials James Darsey will retire on June 9, 2018, after 39 years of service with the company. As of June 10, Craig A. Feldman, President of David J. Joseph Company and Nucor Vice President and General Manager, will be promoted to Executive Vice President of Raw Materials. Feldman will […]
The new cold mill complex at Nucor Steel Arkansas is now expected to start up in the first half of 2019, said the company. Nucor executives and state and local officials gathered at the facility for a ribbon cutting event yesterday. Nucor announced the new $230 million cold mill in September 2016 and said it […]
Ryerson Holding Co., a processor and distributor of industrial metals, said in earnings guidance on Wednesday that tons sold and average selling prices are expected to be higher in the first quarter. Sales revenue is anticipated in the range of $930-$950 million compared to $811 million in the fourth quarter and $815 million in Q1 […]
Olympic Steel, Inc., has acquired Berlin Metals LLC, the Hammond, Ind., service center. Terms of the all-cash deal were not disclosed. With approximately $50 million in annual sales, Berlin Metals processes and distributes prime tin mill products and stainless-steel strip in slit coil form. The company is also a supplier of galvanized, light-gauge cold rolled sheet and strip, as well as other […]
JSW Steel made another move to expand its U.S. operations by buying the Acero Junction sheet mill in Mingo Junction, Ohio. The $80.85 million purchase was finalized on Wednesday with JSM International, Acero Junction Holding Inc. and Acero Junction Inc. and is expected to close within 60 days. JSW, the India-based steelmaker, will have 100 […]
Pointing to improving market conditions and favorable pricing trends, Canada’s Stelco forecasts Q1 earnings of $60-70 million and Q2 earnings of $120-150 million. The integrated steel producer expects first-quarter 2018 shipments to be 3-5 percent higher than fourth-quarter 2017. In late Q1 2018, the company expanded its distribution capabilities by adding 200 rail cars to […]
JSW Steel announced it will invest $500 million in its U.S. plate and pipe operations. The Baytown, Texas, facility will receive $150 million in upgrades and the rest will fund a new hot-end facility to make steel. Texas Governor Gregg Abbott signed an agreement with the company to provide a grant of $3.4 million. The […]
Big River Steel sees opportunity in the convergence of two major trends in automotive: development of autonomous/electric vehicles and advanced steels. “Niche steel is a big part of what we want to do. The opportunity in electrical steel is immense,” said Big River Chief Commercial Officer Mark Bula at the S&P Global Platts Steel Markets […]
Bidding for bankrupt Essar Steel is back to square one after offers from Numetal and ArcelorMittal were declared ineligible by lenders. The bids were rejected under the amended Insolvency and Bankrupcty Code that prohibits related parties and insolvency-linked parties from bidding. ArcelorMittal India was involved in a joint venture in Uttal Gallva, which defaulted on […]
February service center shipments of carbon flat roll, plate, and pipe and tube were all up compared with the same month last year, but down compared with the prior month, according to the Metals Service Center Institute’s February Metals Activity Report. It’s a common seasonal pattern for shipments to start the year strong in January […]
Steel shipments by Canadian service centers in February totaled 383,300 net tons, down 6.5 percent from January’s high, but up 4.8 percent from February 2017, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 19,200 tons per day in February (a 20-day month), up from 18,600 tons per day in […]
Steel Dynamics expects stronger results in the first quarter based on higher shipments and metal scrap expansion. Steel pricing is expected to more than offset scrap costs during the quarter. Steel pricing has been supported throughout the first quarter by robust demand, said SDI. “Based on strong steel demand fundamentals and customer optimism, the company […]
SSAB Americas announced yesterday, March 14, that it is increasing steel transaction prices by a minimum of $50 per ton for customers in the United States, and $60 per ton for customers in Canada, effective immediately on all new non-contract orders, and for all existing noncontract orders acknowledged for shipment the week of April 29 […]
Nucor Corp. is expecting stronger earnings in first quarter than fourth, said the company in its first-quarter earnings guidance. Average selling prices for steel products have steadily increased in 2018, and positive pricing momentum is expected to continue into second quarter. Earnings for the steel mills segment are expected to improve compared to first quarter. […]
AK Steel members of the International Association of Machinists and Aerospace Workers (IAM) Local 1943 have ratified a two-year labor agreement covering about 1,730 hourly employees at the company’s Middletown, Ohio, facility. The new agreement will be effective March 15, 2018, through March 15, 2020. Union officials hoped to reach an agreement for a four-year […]
U.S. Steel provided full-year 2018 earnings guidance on Monday in light of the recent Section 232 tariffs. As a result of the imposition of a 25 percent tariff on steel imports, the company decided to resume steelmaking operations at Granite City Works with the restart of its “B” blast furnace. U.S. Steel anticipates incremental shipments […]