Category: Steel Mills

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.

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.

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.

A contract worker suffered a fatality on Friday, Nov. 24, at Nucor Steel Indiana’s Crawfordsville sheet mill.

U.S. Steel said it has indefinitely idled steelmaking at its Granite City Works in southern Illinois near St. Louis.

Hybar's new rebar mill is set to be outfitted with 16 cranes of various capacities, according to a news release from Finnish crane manufacturer, Konecranes.

Canadian steelmaker Algoma has announced the retirement of its VP of sales Rory Brandow, effective Dec. 1.

Nucor Corp. has announced a $280-million investment to modernize its plate mill in Tuscaloosa, Ala.

SMU discussed wind energy, a promising end-use market for steel, with SSAB Americas’ SVP and CCO Jeff Moskaluk.

A group of California members of Congress is calling on U.S. Steel to keep its USS-UPI steel mill in Pittsburg, Calif., open by finding a buyer for the operations.

Steel Market Update spoke with Jonathan Shank, the new COO of JSW's Mingo Junction mill, on its $145-million investment project.

Nucor Corp. has announced its target date for net-zero greenhouse gas (GHG) emissions as 2050.

SSAB Americas will supply its low-carbon SSAB Zero steel to GE Vernova Onshore Wind for wind towers in North America.

The historically significant Sparrows Points steel mill site in Baltimore is set to live another life as a wind turbine factory under the name “Sparrows Point Steel.”

JSW Steel USA is expanding the rail infrastructure at its Mingo Junction mill, thanks in part to a grant from the state of Ohio.

ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.

U.S. Steel’s Mon Valley Works in western Pennsylvania has not resumed full production of cold-rolled coil (CRC) following an outage last month, a company spokeswoman confirmed.

Canadian flat-rolled steelmaker Stelco recorded a drop in third quarter profits on lower steel prices and sales volumes. The Hamilton, Ontario-based company predicted that volumes would be lower still in the fourth quarter. But it also said that financial results would improve next year on higher prices and longer lead times.

Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.

Declining demand and a challenging economic environment impacted Gerdau’s shipments in North America during the third quarter.

Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource has acquired a 55-acre rail-served tract near the Port of Houston to expand its metal recycling operations along the Gulf Coast.

U.S. Steel said it is laying off 105 IT workers in Pittsburgh, according to a November WARN notice filed with the Pennsylvania Department of Labor and Industry.