Stelco shareholders voted overwhelmingly on Monday to OK the $2.5-billion sale of the Canadian flat-rolled steelmaker to Cleveland-Cliffs. Indeed, 99.97% of those who cast ballots voted to approve the deal, according the Hamilton, Ontario-based steelmaker.
The White House decision on blocking Nippon Steel’s play for Pittsburgh-based U.S. Steel might be pushed back until after the upcoming presidential election, according to a report in the Washington Post.
Hybar said that contracting services firm Quanta Services has made a “strategic” investment in the company as it build its sustainable rebar mill in northeast Arkansas.
Cleveland-Cliffs plans to place the C-6 blast furnace at its Cleveland Works in Ohio on hot idle in October, according to sources familiar with the matter.
Ternium USA Inc. has requested a host of Section 232 tariff exclusions since the US reimposed the duties on Mexican steel earlier this summer. Domestic steelmakers, however, are pushing back.
U.S. Steel has rolled out “ZMAG,” a flat-rolled coated steel product intended to endure harsh weather conditions.
In a candid fireside chat with SMU Senior Analyst/Editor David Schollert, Stelco’s CEO Alan Kestenbaum opened up about Stelco’s pending sale to Cliffs, his business strategy, outlook for the industry, and plans for the future. The chat took place on Tuesday, Aug. 24, at the 2024 SMU Steel Summit in Atlanta.
Domestic steel shipments remained nearly flat in July month over month but fell from a year earlier.
President Joe Biden could block the $15-billion sale of U.S. Steel to Japan's Nippon Steel by citing national security concerns That’s according to reporting in the Washington Post and the Financial Times that was later picked up by the New York Times as well as in wire services.
U.S. Steel could slash thousands of jobs, shift away from integrated steelmaking, and move its headquarters out of Pittsburgh if its acquisition by Nippon Steel isn’t completed, the company’s top executive said. “We want elected leaders and other key decision makers to recognize the benefits of the deal was well as the unavoidable consequences if the deal fails,” company President and CEO David Burritt said in a statement on Wednesday.
SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]
Vice President Kamala Harris said she opposed U.S. Steel’s acquisition by Nippon Steel in a speech on Labor Day in Pittsburgh.
Current steel mill lead time averages are a few days longer than levels seen one month prior, but remain near historical lows for both sheet and plate products.
Hybar CEO David Stickler and SMU Managing Editor Michael Cowden shared a candid conversation about Hybar's ambitious plans on Tuesday morning at the SMU Steel Summit, held in Atlanta this week.
On Wednesday, Nippon Steel announced additional investments it plans to make in U.S. Steel facilities as part of its pending purchase of the iconic American flat-rolled steelmaker. The two companies still anticipate the deal’s closing by the end of this year. With an investment of “no less than $1 billion,” Nippon said it would replace […]
Leading industry analysts on Monday discussed steel prices and how they will be impacted by trade policy, consolidation, mill discipline, November’s elections, and more.
Whether as a guitar player in a rock and roll band or as a high-powered executive at Steel Dynamics Inc. (SDI), it’s all about the team for SDI’s Barry Schneider.
Having risen for three weeks in a row, weekly production is now at the highest rate seen since February 2023.
Zekelman Industries has bought 5% of available shares of Canada’s Algoma Steel.
Global steel output fell 5% in July according to World Steel Association’s (worldsteel) latest release. Total steel mill production around the world tallied up to 152.8 million metric tons (mt) for the month of July, the second-lowest monthly rate seen this year.
BlueScope Steel is progressing on its expansion plans for the US market. Those plans include lifting the capacity of its North Star sheet mill and setting up a greenfield metal coating facility in the Midwest.
Cleveland-Cliffs has named Michael Hrosik as senior vice president of commercial, effective immediately.
Fall is coming in North America, and with it, steel mills' regularly scheduled fall maintenance outages.
Union workers at Cleveland-Cliffs’ Dearborn Works have approved a new four-year labor agreement.
Despite this summer’s “challenging near-term pricing and uncertain macroeconomic conditions,” Algoma Steel CEO Michael Garcia said the company is focusing on what it can control: operating safely, providing exceptional customer service, and successfully executing its capital programs.
Altos Hornos de México (AHMSA) announced it is entering the third stage of bankruptcy.
Specialty steel maker Metallus, formerly known as TimkenSteel, has officially begun work on a bloom reheating furnace at its Faircrest plant in Ohio.
Domestic steel mill output rose last week after falling for two straight weeks, according to the latest release by the American Iron and Steel Institute (AISI). Total raw steel mill production was estimated at 1,735,000 short tons (st) in the week ending Aug. 10. That’s up 13,000 st, or 0.8%, from the week prior. It’s […]
The company is in the process of being acquired by Cleveland-Cliffs in a deal valued at USD$2.5 billion.
U.S. Steel posted significantly lower second-quarter profits on falling prices and start-up costs at its Big River Steel (BRS) campus in Osceola, Ark.