Category: Steel Product Producers

A strong performance from its logistics segment drove SunCoke Energy’s results higher in the third quarter.

Metalformers in the US and Canada expect a decline in economic activity in the coming months, according to the recently released October Business Conditions Report from the Precision Metalforming Association (PMA). Approximately 37% of surveyed manufacturers anticipate weaker business conditions over the next three months. This rate is up from 31% in September but a […]

Cleveland-Cliffs has received all the required approvals to finalize its $2.5-billion acquisition of Canadian steelmaker Stelco Holdings Inc.

The theme of “unprecedented stability” in pricing predominated among galvanized steel buyers this month.

Cleveland-Cliffs is keeping its market price for HRC flat at $750/short ton with the opening of its December order book.

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and cut-to-length plate with the opening of its December order book.

Ryerson swung to a loss in Q3 as it navigated a "contractionary" environment in industrial metals and manufacturing.

Australia’s BlueScope Steel has lowered its earnings guidance due to challenging conditions in the global steel industry.

Former President Donald Trump repeated his disapproval of U.S. Steel’s sale to a foreign owner in a campaign speech on Sunday.

After stepping down as president and CEO of SSAB, Martin Lindqvist announced he'll also be leaving his position on SSAB's board of directors.

Earlier this month, Nippon Steel announced that it is applying for subsidies under the Japanese government’s Green Transformation Promotion Act to expand the company’s electric furnace steelmaking capabilities and to convert from blast furnace to electric furnace operations. As we have said before, transitioning from blast furnace- to electric furnace-based steelmaking is a good thing […]

Reliance Inc. reported a fall in third-quarter earnings, exacerbated by near-term election and demand uncertainty. With little relief expected through the end-of-year holidays, North America's largest metals service center group is looking ahead to better days in 2025.

Global steel mill output totaled 143.6 million metric tons (mt) in September, the lowest monthly rate recorded this year.

Swedish steelmaker SSAB said its weaker third-quarter financial performance was due to muted demand, planned maintenance outages, and the continued decline of US plate prices.

Nucor isn’t overly concerned with low utilization rates or an oversupplied market, as its investment strategy is for the long term, executives reminded investors on Tuesday.

Heavy equipment manufacturer John Deere blamed soft demand and a reduction in orders for a spate of layoffs in Iowa this year, according to a local report.

Nucor's profits dropped precipitously in the third quarter on lower prices in its steel mills segment as the company expects a continued earnings slide for Q4'24.

Nucor is holding its hot-rolled coil consumer spot price at $720/short ton this week.

Nucor Corp. has commissioned SMS group to upgrade its Tuscaloosa, Ala., plate mill.

Zekelman Industries has announced a joint venture with Maverick Pipe, expanding its offerings of US-made strut channel, PVC conduit, and PVC fence products.

Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.

CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]

Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.

ArcelorMittal has entered into a 10-year commercial agreement with the Velux Group to supply the Denmark-based roof window maker with an increased amount of sustainably produced steel.

Cleveland-Cliffs’s Chairman, President, and CEO Lourenco Goncalves hosted a fireside chat with US Trade Representative Katherine Tai and Acting Secretary of Labor Julie Su on Friday at the company’s plate mill in Coatesville, Pa.

ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.

AZZ Inc., relatively unfazed by volatility in zinc pricing, is optimistic about demand prospects and M&A opportunities, especially in the galvanizing sector.

Steel Dynamics Inc. (SDI) has become the world’s first steel producer with carbon targets certified by the Global Steel Climate Council (GSCC).

AZZ Inc. posted sharply higher second-quarter profits driven by increased sales of and better demand for its products. The Fort Worth, Texas-based hot-dipped galvanized and coil coater reported net income of $35.4 million in the second quarter of 2024, up 43.3% from $24.7 million in the same quarter last year. It posted Q2'24 sales of $409 million, up 2.6% from $398.5 million in Q2'23.

After a complete stoppage earlier this year, ArcelorMittal Mexico’s steel mill in Lazaro Cardenas, in the state of Michoacán, will soon return to full production.