There are always two sides of a coin. When looking at AK Steel, buyers are seeing a mill aggressively offering hot rolled at the lower end of the SMU HR pricing range while, at the same time, fully annealed cold rolled and galvanized are on an inquire only basis. Steel Market Update has received mixed […]
ThyssenKrupp AG finances are beginning to improve. Earnings before interest and tax (EBIT) more than doubled to €247 million ($338 million) in the first quarter FY 2013-2014 (ending Dec. 31, 2013). Net debt dropped to €4.6 billion ($6.3 billion) from €5 billion ($6.8 billion) the previous quarter. ThyssenKrupp’s gearing ratio (net debt to equity) was […]
Essar Steel Algoma posted a net loss of 38.6 million for the third quarter FY 2014, ending December 31, 2013, compared to a net loss of $25.1 million for third quarter FY 2013. Severe winter weather slowed incoming raw material shipments affecting production for the quarter. Steel shipments were 590,837 tons, down from 642,000 tons […]
A locomotive operator at the Nucor Steel Arkansas Hickman facility died from a head injury Tuesday morning after the train he was riding on derailed. Mr. Thomas Dazey, 48, who has been employed at Nucor for 18 years, was pronounced dead at the scene by Mississippi County Coroner Mike Godsey. The Blytheville Courier News reported employees […]
The acquisition of the ThyssenKrupp Calvert, Alabama mill by joint partners ArcelorMittal and NSSMC is expected to close during the first quarter of 2014. The company has received Department of Justice anti-trust approval and is waiting for other regulatory approvals to clear. ArcelorMittal is prohibited from looking at the customer mix and order book until […]
ArcelorMittal announced it will spend $87 million over the next five years to upgrade the #2 and 3 coke batteries at its Dofasco mill. The repairs will help “improve the efficiency of our production and improve our environmental performance as well,” said company spokesman Tony Valeri, according to a report by The Spec. The company […]
SSAB Americas improved its operating profit in fourth quarter 2013 to $27.8 million from $17 million in the same period in 2012. Sales for the quarter increased 17 percent from the previous quarter, totaling $581.7 million compared to $499 million year-over-year. For full year 2013, sales totaled $2.216 billion, slipping from $2.492 billion in 2012. […]
ArcelorMittal Flat Carbon Americas had sales of $4.9 billion in fourth quarter 2013, just slightly below sales for third quarter and up from $4.68 billion in Q4 2012. Crude steel production declined by 1.4 percent to 6.3 million tonnes q/q due to operational issues in Brazil and maintenance for Canadian operations. Steel shipments of 5.6 […]
Majestic Steel USA, a flat-rolled steel service center located in Cleveland, Ohio, plans to expand its staff by 80 positions in 2014. The family-owned and operated company has entered into a period of what they are calling “hyper growth.” “We’re invested in the industry and looking to hire additional resources to help us take steel […]
Mario Longhi, CEO of U.S. Steel announced to those on the US Steel conference call that the company has started the process of replacing the existing blast furnace at the Fairfield, Alabama facility with a brand new electric arc furnace (EAF). During the call, Mr. Longhi advised that the expect the permitting process to take […]
Severstal North America announced the appointment of Dr. Prabhat (PK) Rastogi to General Manager, Business Development, Strategy and Innovation. Dr. Rastogi will be responsible for business development, market strategies, production innovation and value creation in connection with Severstal’s automotive product. “PK brings the knowledge, skills and innovative strategies our company and industry needs right now,” […]
ArcelorMittal received anti-trust clearance on Wednesday, clearing a hurdle to the acquisition of the ThyssenKrupp Alabama facility. The waiting period under the Hart-Scott-Rodino Antitrust Acquisition Improvements Act (HSR) terminated on Jan. 29 providing clearance for the acquisition. Following receipt of other customary regulatory approvals, the joint purchase by ArcelorMittal and Nippon Steel & Sumitomo Metal […]
Earnings reports are accompanied by conference calls which allow us to get some insight on what the steel leaders are thinking about in the industry. SMU decided to look at the comments by AK Steel, Nucor, Steel Dynamics, and US Steel for ideas on where the steel industry is headed for 2014. All four of […]
On Wednesday of this week, USS/POSCO (UPI) opened their galvanized order book for the month of April. At the same time the mill announced enhancements to the galvanized product line and new effective base prices on all carbon flat rolled sheet produced at their steel mill located in Pittsburg, California. The mill announced two enhancements […]
Essar Steel Algoma has resorted to trucks to get crucial coal shipments around the frozen Soo Locks to the mill. Extreme winter weather resulted in fast forming ice levels, delaying end of season freighter shipments of coal beyond the January 15 closing of the locks. A contingency plan was enacted to have cargo offloaded at […]
Mario Longhi, CEO of U.S. Steel announced to those on the US Steel conference call that the company has started the process of replacing the existing blast furnace at the Fairfield, Alabama facility with a brand new electric arc furnace (EAF). During the call, Mr. Longhi advised that the expect the permitting process to take […]
Mark Millet, CEO of Steel Dynamics told those listening to the SDI earnings conference call that second half 2013 sheet pricing appreciation was assisted by raw material pricing (higher scrap prices) and some supply disruptions. However, the “…underlying appreciation was driven by demand.” He went on to state that “…it’s a little difficult to determine […]
US Steel reported a net loss of $122 million for the fourth quarter of 2013, compared to a Q3 net loss of $1,791 million and $50 million net loss in Q4 2012. The fourth quarter loss was due mostly to $302 million of charges related to the shutdown of the Hamilton steel making facility. Adjusted […]
Nucor reported fourth quarter earnings of $170.5 million, compared to 147.6 million in Q3 and $136.9 million in fourth quarter 2012. Full year consolidated net earnings for 2013 were $488.0 million, compared with net earnings of $504.6 million for 2012. Earnings for the year were impacted by charges associated with the dome collapse at Nucor […]
Steel Dynamics reported solid earnings on Monday with Q4 2013 net income of $55 million on net sales of $1.9 billion, somewhat short of Q4 2012 net income of $61 million on sales of $1.7 billion. Full year income was $189 million, up from $164 million in 2012. Net sales for the year totaled $7.4 […]
AK Steel reported net income of 35.2 million for fourth quarter 2013. Sales totaled $1.46 billion in the quarter on shipments of 1.42 million tons, compared to net sales of $1.42 billion on shipments of 1,406,100 tons for Q4 2012. The increase was attributed to stronger demand in auto sales that was partially offset by […]
NLMK USA sales for 2013 jumped 3.7 percent to 1.8 million tonnes of steel (1.98 million tons), up from 1.74 million tonnes (1.9 million tons) in 2012. Sales were driven by improved demand by service centers, pipe manufacturers, construction and automotive. Fourth quarter 2013 steel production at NLMK Indiana totaled 164,000 tonnes (180,776 tons), down […]
Big River Steel, in Osceola, Ark., moved a step closer to construction with the removal of a construction stay by the Arkansas Department of Environmental Quality (ADEQ). The air permit for the facility has not yet been approved but the lifting of the stay will allow the preliminary construction phase to begin. The permit was […]
US Steel Canada announced on Friday several executive management changes that will go into effect on Feb. 1. Michael A. McQuade will succeed Anton Jura as President and General manager of US Steel Canada. Anton Jura will take on a new assignment in US Steel’s flat rolled operations in the United States. McQuade currently serves […]
Steel production at Severstal NA was up 2 percent at 1,271,797 tonnes (1.4 million tons) in fourth quarter 2013 as compared to third quarter. Sales of rolled products decreased 2 percent to 1,172,137 tonnes (1.29 million tons) from the previous quarter. Sales hot rolled coils dropped 5 percent, cold roll was down 1 percent, while […]
Flat rolled service center Alliance Steel, through one of its holding companies, Nexus AG Holdings, is in negotiations to purchase the former Delphi plant just north of Decatur, Alabama in Limestone County. Alliance will occupy 165,000 square feet of the 320,000 square foot facility. The balance of the plant will be leased out to tenants […]
SSAB plans to acquire Finnish steel company rival Rautaruukki for 10.1 billion kroner ($1.8 billion) in a deal that the two companies hope will bring a cost savings of 1.4 billion kroner ($254 million) in three years. The major stockholders at both companies, Solidium Oy (39.7 shares) at Rautaruukki and Industrivaerden AB (18.2 shares), are […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located […]
After more than 40 years in the steel industry, with the past seven years spent commuting between Toledo, Ohio and Detroit, Michigan, Ray Culley has decided to retire as the General Manager Marketing & Commercial Services for Severstal NA. In an internal announcement seen by Steel Market Update, Severstal announced his retirement as well as […]