Steel Dynamics is expecting second-quarter profitability to be “meaningfully” higher than the first quarter due to increased steel shipments and metal spread expansion. Steel pricing is outpacing scrap costs in Q2. Profitability has improved across all of SDI’s steel platform, but especially in sheet operations. The metals recycling division is expected to be level with […]
Nucor expects earnings for its second quarter to increase significantly compared to first-quarter 2018 due to higher average selling prices and increased profitability. Deregulation, tax reform and higher, stable oil prices have contributed to stronger market conditions, said Nucor in the company’s earnings guidance statement. Profitability increased across all of Nucor’s steel mill product groups […]
NLMK USA has requested tariff exclusion on the import of slabs under Section 232, but has received blowback from several U.S. steel mills. Nucor, U.S. Steel and AK Steel have filed objections to the request, arguing that there is sufficient slab supply in the United States to supply NLMK yet the company continues to buy […]
Two venerable Chicago-based metals distributors are joining forces, marking the latest big merger in the consolidating service center sector. Ryerson Holding Corp. has agreed to acquire Central Steel & Wire Co. in a transaction valued at $140 million. Acquisition of Central Steel and Wire will solidify Ryerson’s position as the second largest service center organization […]
United States Steel Corp. announced Tuesday that it will restart the second of two blast furnaces at its Granite City Works, an integrated steelmaking plant in Granite City, Ill. The restart of the “A” blast furnace will support increased demand for steel manufactured in the United States, while allowing the company to continue to support […]
ArcelorMittal announced the retirement of Robrecht Himpe, executive officer and executive vice president. A 37-year veteran of ArcelorMittal, Himpe will retire from his duties as a member of ArcelorMittal’s executive management committee and as CEO, ArcelorMittal North America and CEO, AM/NS Calvert on July 1, 2018. Himpe joined the group’s Gent operations in 1981. After […]
Worldwide demand for graphite is forecast to grow at a strong annual rate of 5-7 percent through 2027. U.S. minimills rely on graphite for the electrodes used in electric arc furnaces to melt steel scrap. As China transitions to the more environmentally friendly EAF steelmaking process, and the proliferation of electric vehicles calls for more […]
AK Steel’s Middletown Works suffered a fire on one of the facility’s temper mills on Saturday, May 19. The blaze was extinguished without injury to any employees. A spokesperson for AK Steel said the cause of the fire is under investigation and repairs are under way. In the meantime, AK Steel will utilize its other […]
Have you ever experienced the dizzying sensation of vertigo? Perhaps you were on a Steel Market Update workshop tour and felt woozy as you ascended higher and higher on the catwalks during the mill tour. ArcelorMittal South Africa recognized the danger that a fear of heights could cause employees who work in extreme conditions and […]
The hot strip mill at NLMK’s Farrell, Pa., facility will be down for the next seven to 10 days. SMU spoke with James Banker, Jr., who said that a component failure in a motor is taking the mill down for unplanned maintenance. The number of tons of production that will be lost is not significant. […]
Mark Bula, chief commercial officer at Big River Steel, is leaving the Osceola, Ark., steelmaker to pursue new entrepreneurial opportunities, according to a statement from the company. Keith Shuttlesworth, currently Big River Steel’s general manager of the Carbon Sales Group, will become the company’s new chief commercial officer. Shuttlesworth joined Big River Steel after an […]
The U.S. steel industry continues to find new ways to help automakers lighten vehicles for better fuel efficiency. One of the latest developments is by ArcelorMittal in partnership with Honda. Engineers from the two companies designed the industry’s first hot-stamped, laser-welded inner and outer door ring using ultra-high-strength steel. The system replaces conventional multi-piece, spot […]
Steel Dynamics has announced it will acquire CSN Heartland from CSN Steel, a wholly-owned subsidiary of Companhia Siderurgica Nacional, for $400 million, subject to regulatory approval. SDI expects to close the transaction by the end of third-quarter 2018. Heartland, located in Terre Haute, Ind., produces hot rolled pickled and oiled steel, cold rolled and galvanized […]
Nucor Corp. announced it will build a new $240 million galvanizing line at its Arkansas sheet mill as part of its strategy to diversify its strategic end-market applications. The new line will have an annual capacity of approximately 500,000 tons and is expected to be operational in the first half of 2021. The galvanizing line complements […]
On Thursday, the White House Office of Science and Technology Policy invited government officials, technical experts in academia, heads of industrial research labs and business leaders to attend the “Artificial Intelligence for American Industry” summit. Big River Steel’s chief executive officer Dave Stickler was in attendance as part of the discussions on how industries are […]
ArcelorMittal NAFTA posted sales of $4.8 billion for the first quarter of 2018, up 10.6 percent sequentially. Steel shipments increased 4.8 percent from the fourth quarter to 5.9 million metric tons driven by higher volume of flat products due to improved market fundamentals. Average selling price increased 3.5 percent for flat products and 9.1 percent […]
Italian steel mill Ilva will finally have a new owner. The European Commission has granted approval for the acquisition by global steel producer ArcelorMittal. “EC merger clearance follows the conclusion of the Commission’s Phase II investigation into the proposed acquisition of Ilva, and has been granted on the basis that the Company has committed to […]
Russian steelmaker NLMK says it may have to close its U.S. division if it does not receive an exemption from the 25 percent steel tariff. NLMK USA depends on slab shipments from Russia and cannot source enough slabs in the U.S. to maintain its operations. “Without exclusion for semi-finished steel slabs, the tariffs will have […]
Ryerson Holding Corp. reported an exceptional first quarter with net income of $10.4 million and revenue of $942.3 million. First-quarter revenue improved 16.1 percent over fourth quarter due to higher volume, seasonal improvement, and higher average selling price. Ryerson shipments totaled 526,000 tons for the quarter at an average selling price of $1,790 per ton. […]
Olympic Steel reported that net sales jumped 12 percent year-over-year to $335 million in first quarter after all three of its operating segments reported double-digit growth. “Accelerating shipments and rising prices throughout the first quarter resulted in our highest operating income in any quarter since 2011,” said Chairman and CEO Michael Siegal. Operating income increased […]
AK Steel reported solid first-quarter earnings but continued to advocate for trade action to curb unfair imports. “The high level of imports, particularly the ongoing surge of foreign electrical steel, remains a challenge, and we will continue to work proactively with the Trump administration to ensure fair and appropriate trade policies,” said AK Steel CEO […]
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 […]