Category: Steel Mills

The overall mill negotiation rate slipped this week, though plate jumped, rising by 25 percentage points, according to SMU's most recent survey data.

Nucor broke ground on its newest micro mill in Lexington, N.C., on Friday.

U.S. Steel’s ‘strategic alternatives’ process is continuing. This week the Pittsburgh-based steelmaker confirmed to shareholders that it has entered into nondisclosure agreements (NDAs) and has begun due diligence on a potential sale.

President and CEO of Ternium Mexico Cesar Jimenez discussed positive demand trends and challenges in the Mexico market with SMU managing editor Michael Cowden during a fireside chat on Tuesday, Aug. 22 at the SMU Steel Summit in Atlanta.

Cleveland-Cliffs has laid out a path forward for its potential purchase of U.S. Steel.

Nucor executive Daniel Needham detailed at this year's Steel Summit what’s on the horizon for the steelmaker as the company continues to diversify.

Esmark has withdrawn its bid for U.S. Steel.

A wide-ranging discussion on the SMU Steel Summit 'Domestic Steel Panel: Investing for the Future' saw executives from leading steel companies debate the likelihood of passing on a surcharge to consumers for products with lower CO2 content.

Domestic raw steel production saw another upward bump last week, according to data released by the American Iron and Steel Institute (AISI) on Monday, Aug. 21.

The United Steelworkers (USW) union is standing firm in its backing of Cleveland-Cliffs’ bid for U.S. Steel.

U.S. Steel has provided some clarity for the United Steelworkers (USW) union regarding the union's rights as the steelmaker considers multiple offers to buy the company.

U.S. Steel dropped a bombshell last week when it announced that it is up for sale. While a company buyout would be profitable for any buyer, there could be regulatory hurdles, according to industry analysts.

Esmark Inc. announced on Monday a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel of $35 per share.

U.S. Steel has an upcoming mill outage planned for routine maintenance at its Big River Steel mill in Osceola, Ark.

U.S. Steel dropped a bombshell on Sunday, announcing that it started a formal process to review multiple unsolicited offers for the company. Cleveland-Cliffs followed with an explosive announcement of its own just hours later: that it had offered to buy U.S. Steel and that the board of the Pittsburgh-based steelmaker had rejected its offer as "unreasonable."

Canada's Algoma Steel Inc. reported better than expected results for its fiscal 2024 first quarter.

Republic Steel said it will indefinitely idle operations at its Canton, Ohio, and Lackawanna, N.Y., mills due to challenging business conditions.

Longs producer and metal recycler Gerdau reported lower second-quarter production and shipments due to several mill outages.

U.S. Steel has announced a collaboration with Google Cloud to build applications using Google Cloud’s generative artificial intelligence (gen AI) technology.

While Canadian integrated steelmaker Stelco remains committed to decarbonization its steelmaking operations, it has no plans to convert to electric-arc furnace (EAF) steelmaking, nor to buy an EAF steelmaker anytime soon.

Nucor Corp. announced it will be providing steel to help build a new solar project in Kentucky. In addition, the steelmaker has agreed to purchase power from the project.

An article published on July 30 said that U.S. Steel appeared to be getting out of the tinplate business. That was incorrect. U.S. Steel remains in the tinplate business. It continues to process orders from existing customers and to accept orders from new customers.

Latin American steelmaker Ternium remains optimistic that positive trends in the Mexican market will help it to continue increasing its market share.

While Ternium is expecting an increase in shipments in the current quarter, a decrease in earnings is also anticipated due to lower international steel prices and higher unit costs.

Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings. The Chicago-based service center group reported net income of $38 million in Q2’23, down 81% from $196 million a year earlier on revenue that fell 23% to $1.34 billion. “Shifting consumer spending patterns, higher interest rates, […]

Mexican steelmaker Altos Hornos de México (AHMSA) said there could be an “indefinite” delay to the restart of production because of a blockade by activists. The company said its steel plants in Monclova, Coahuila state, were blockaded by activists of the Sindicato Nacional Minero (National Mining Union), which represents AHMSA’s striking workers, according to a […]

Nucor has received its final federal permit to begin construction on its sheet mill in Mason County, W.Va. The Charlotte, N.C.-based steelmaker said it received the permit on Friday from the US Army Corps of Engineers to start work on the ~$3.1-billion project. Construction is set to begin immediately and expected to last approximately two years, Nucor […]

Steel prices and shipment volumes will probably be lower in the third quarter than they were in the second, U.S. Steel executives said.

Indian steelmaker JSW Steel reported improved performance at its JSW Steel USA operations in the first quarter of its 2024 fiscal year. Recall that JSW operates a sheet and slab mill in Mingo Junction, Ohio, and a plate and pipe mill in Baytown, Texas. The Mingo mill makes slabs not only for internal consumption but also for sale to […]

U.S. Steel recorded lower profits in Q2’23 compared to Q2’22 on the heels of a drop in steel prices and a dip in shipments. The Pittsburgh-based steelmaker reported net income of $477 million in Q2’23, down 51% from $978 million in Q2’22 on sales that fell 20% to $5.01 billion over the same period. The […]