Steel Warehouse, South Bend, Ind., has acquired Chicago-based Siegal Steel. The company will continue to operate using the Siegal Steel name under the direction of the current management and operating teams. Further details of the transaction were not released. Founded in 1940, Siegal is a niche steel service center providing heavy-gauge high carbon steel, low […]
On March 28 and 29, 2018, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Merrillville, Ind. This workshop will include a tour of the NLMK USA Portage, Ind., steel mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader […]
On March 28 & 29, 2018 Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Merriville, Indiana. This workshop will include a tour of the NLMK USA Portage, Indiana steel mill. Why do companies send employees to our Steel 101 workshop? Because they receive a broader […]
Emotions are running hot as the market awaits President Trump’s decision on Section 232, and whether to impose new trade restrictions on steel imports for national security reasons. Sharply contrasting comments recently from Dan DiMicco and Richard Chriss serve to bookend both sides of the issue. DiMicco, the former CEO of Nucor and current trade […]
The National Automobile Dealers Association (NADA) predicts sales of 16.7 million new cars and light trucks in 2018. “We expect 2018 to be a robust year,” said NADA Chairman Mark Scarpelli, a multi-franchise dealer near Chicago. NADA’s sales forecast, while down from 2017, is indicative of a stable and healthy market for new vehicles this […]
The Section 232 report on the effect of steel mill product imports on U.S. national security was submitted to President Trump by Secretary of Commerce Wilbur Ross late on Thursday, Jan. 11. The president now has 90 days to take action. Details of the report have not been released. In its announcement, the Commerce Department […]
The Australian Bureau of Meteorology downgraded the status of Cyclone Joyce, off the far northwest coast, to Category 1. The storm made landfall along the Pilbara coast today at around 12:30 a.m. EST (0536 UTC). Winds of about 50 mph are expected to ease as the storm moves inland. The iron ore terminal at Port […]
The Section 232 report on the effect of steel mill product imports on U.S. national security was submitted to President Trump by Secretary of Commerce Wilbur Ross late on Thursday, Jan. 11. The president now has 90 days to take action. Details of the report have not been released. In its announcement, the Commerce Department […]
Steel merchant bar producer Kentucky Electric Steel, located in Boyd County, will cease operations permanantly on March 10, laying off 113 employees. “This is nothing but bad and sad news,” said Boyd County Judge Executive Steve Towler. “Every job we lose has an impact on the county in many ways.” The county is still recovering from […]
Steel Market Update will be opening online registration for our 8th SMU Steel Summit Conference in the coming days. We are now accepting registrations by phone, which you can do by contacting our offices at 772-932-7538 or 706-216-2140. Information regarding dates, costs and other details can be found further down in this article. Steel Market […]
Steel Market Update has opened online registration for our 8th SMU Steel Summit Conference. We are also accepting registrations by phone, which you can do by contacting our offices at 772-932-7538 or 706-216-2140. Information regarding dates, costs and other details can be found further down in this article. Steel Market Update and our Events team […]
Total construction spending in the United States expanded by 1.3 percent in November, versus November 2016, but in the longer term the growth rate is slowing. On a rolling 12-month basis year over year, construction spending slowed every month in 2017. On a rolling three-months basis year over year, growth improved in October and November, […]
A handful of carbon steel plate mills have followed Nucor’s lead and announced price increases of $50 per ton today, effective immediately on all new or unconfirmed orders. All extras will remain unchanged. Evraz North America increased transactional prices on all carbon, HSLA, Hot Rolled Coil, Normalized, and all Quenched & Tempered products including Armor […]
The American Institute for International Steel reports that steel imports dropped sharply from October to November, falling below their year-ago level. The United States imported 2.76 million net tons of steel in November, 11.4 percent less than the preceding month and 1.6 percent less than the previous November. Imports from the three biggest suppliers of […]
President Trump’s plan to revive the coal industry received a blow on Monday when the Federal Energy Regulatory Commission rejected a proposal by Energy Secretary Rick Perry to subsidize certain power plants. Perry’s proposal on grid reliance and reliance pricing recommended regional transmission organizations and independent system operators compensate plants that maintain 90-day fuel supplies […]
Steel Market Update anticipates conducting five Steel 101 workshops during calendar year 2018. Our January workshop scheduled for Mobile, Ala., later this month is sold out. Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop will be held in Merrillville, Ind., on March 28-29, 2018. The two-day session will include […]
Following on the $40 per ton price hikes by most domestic mills earlier this week, ArcelorMittal USA announced the following minimum prices on its carbon steel sheet products today: hot rolled, $720/ton; cold rolled, $900/ton; and hot-dipped galvanized, $900/ton. The new prices are effective immediately on all new and unconfirmed orders with ArcelorMittal USA and […]
AK Steel and NLMK USA raised spot market base prices on all carbon flat-rolled steel prices by $40 per ton today, matching similar $40 hikes on hot rolled, cold rolled and galvanized steel products yesterday by Nucor and U.S. Steel. All four companies said the increase is effective immediately on new orders and will not […]
Olympic Steel’s commitment to ethical behavior is as much about how employees should treat each other as it is about how the company should conduct business with the outside world, says company Chairman and CEO Michael Siegal. Employees communicate periodically with customers and vendors, but they interact with each other every day, so what happens […]
The American Iron and Steel Institute welcomed Canada’s integrated steel company Stelco to its membership at AISI’s recent board meeting in Washington, D.C. “With its significant presence in North America, Stelco will be a great partner in our continued advocacy to fight unfairly traded foreign imports and level the playing field for the North American […]
Union Partners announced the acquisition of Heidtman Steel’s Automotive Steel Technical Center in Gibraltar, Mich. Union will use the steel testing and research facility to bring new advanced high-strength and ultra-high-strength steels to the marketplace. The acquisition also provides the opportunity for future expansion to over 150,000 square feet at the company’s existing Gibraltar facility. […]
The year 2017 proved a bit “odd” as the threat of political action against foreign steel worked against the domestic steel mills. Early in the year, newly crowned President Trump authorized the U.S. Department of Commerce, led by former steel magnate Wilbur Ross, to investigate if the steel industry is essential to the U.S. for […]
Construction firms are encouraged by recent regulation cuts and passage of the tax reform bill. The Associated General Contractors of America notes that firms are adding jobs in anticipation of stronger market conditions in 2018. Between October and November, 39 states added construction jobs. Forty states added construction jobs between November 2016 and November 2017. […]
The ArcelorMittal Georgetown wire rod steelworks will get new life under Liberty House, part of the global metals and energy group GFG Alliance, which announced on Monday it has completed the acquisition of Georgetown. The mill includes an electric arc furnace with a capacity of 540,090 metric tons per year and a 680,000-ton annual capacity […]
Union workers at AK Steel Dearborn have ratified a new contract covering 1,180 employees through July 31, 2021. Hourly production and maintenance workers at Dearborn are represented by the United Auto Workers, Local 600. AK Steel CEO Roger Newport said, “We are pleased to have reached an agreement with our hourly employees at Dearborn Works. […]
Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop will be held in Merrillville, Ind., on March 28-29, 2018. The two-day session will include a tour of the NLMK USA steel mill. • Do you have new employees who would benefit from learning about steel making (EAF and Integrated Process), […]
Our team has been working diligently on our 2018 SMU Steel Summit Conference. We have expanded the space we are using at the Georgia International Convention Center, we have changed the space that will be used for breaks and for our exhibitors, and we have expanded the audio/visual segment of the program as we continue […]
Ratner Steel has purchased a new 5/8th-inch 76-inch-wide stretcher leveler from Red Bud Industries for its Osceola, Ark., service center, to be delivered in fourth-quarter 2018. “We are very excited with this new opportunity,” said Mark Ratner, owner and CEO. “Our belief is that this region of the country has significant potential for a flat […]
Mark Sendar has joined CENTRIA, a producer of architectural metal wall and roof systems, as the new Vice President of Sales. Sendar has 20 years of leadership in sales, distribution, pricing and customer care at Overhead Door Corp., most recently as Vice President, Customer Care, Pricing & Events and Oracle CX Solution Lead. “It’s rare […]
Olympic Steel has signed a new $400 million credit agreement that gives the service center additional resources for future growth. “The increased borrowing capacity and more favorable terms provided by this agreement underscore the confidence our lenders have in our business. The low-cost capital structure enhances our flexibility and positions us well for both internal […]