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 […]
Shipments of heating and cooling equipment moved higher in June, according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI). June shipments increased 10% month on month (m/m) to 2.16 million units. This was a 7% boost over the same month last year. June represents the best monthly shipment rate year-to-date, […]
The company is in the process of being acquired by Cleveland-Cliffs in a deal valued at USD$2.5 billion.
US steel shipments fell both on-year and month over month in June, according to the latest figures from the American Iron and Steel Institute (AISI).
Klöckner & Co. swung to a loss in the second quarter on-year, as the company expects a slip in sales for full-year 2024 because of the drop in steel prices.
Ryerson has acquired Production Metals, LLC, a Monroe, Conn.-based aluminum, stainless, and specialty steel distributor, for an undisclosed sum.
Olympic Steel’s earnings tumbled in the second quarter as the company expects near-term business conditions to remain “challenging.”
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.
ArcelorMittal’s earnings fell precipitously from a year earlier as the company said current market conditions are unsustainable.
Lower steel prices and expenses from ongoing litigation negatively impacted Ternium’s second-quarter results. On Wednesday, the Luxembourg-based Latin American steelmaker posted a Q2 loss of $743 million on sales that rose 17% from last year to $4.5 billion.
Ryerson's earnings slumped in the second-quarter on-year but swung to a profit from the first quarter.
Charter Manufacturing, a diversified metals manufacturer, has agreed to buy regional scrap metal recycler Niles Iron & Metal Co.
When we last talked to Jared Rowe in May, he had just been appointed Reibus International's new CEO and chairman of the board. Now two months into the job, SMU caught up with him on our July 24 Community Chat for the latest on the online metals marketplace.
Japan’s Nippon Steel announced it was withdrawing from a joint venture (JV) with China's Baoshan Iron & Steel (Baosteel) that served the Chinese automotive industry.
Metalformers expect economic activity to stabilize over the next three months, according to the recently released July Business Conditions Report from the Precision Metalforming Association (PMA).
Reliance Inc. said a faster-than-expected decline in carbon steel prices offset higher shipments in the second quarter.
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Global steel output eased 2% in June following May’s 14-month high, according to World Steel Association’s (worldsteel) latest release.
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.
Cleveland-Cliffs’ earnings tumbled in the second quarter as the company cited weak demand and pricing.
Cleveland-Cliffs is starting a new electrical distribution transformer production plant in Weirton, W.Va.
ArcelorMittal Mexico reached an agreement with the local mining union on Thursday, July 18, to end the 55-day blockade of its steelmaking and mining facilities in Lazaro Cardenas, Michoacán. While a large majority of Section 271 of the Sindicato Nacional de Mineros voted to accept the proposal, a group of unknown size continues to protest illegally and has even turned to violence, according to the company.
The recently announced acquisition of Stelco by Cleveland-Cliffs (Cliffs), priced at nearly three times book value, provides a great price for Stelco shareholders. And various synergies will likely leave Cliffs with tremendous runway for further growth in this deal. Cliffs expects to close this deal in 2024 Q4 upon government approval. This approval is expected but not a given.
Steel Dynamics Inc. executives provided further insight into operations at the company’s Sinton, Texas, flat-rolled steel mill on a second-quarter earnings conference call on Thursday morning. Despite a series of start-up woes, the company recently commissioned two new coating lines there, and the mill continues to ramp up production. The execs were also bullish on […]
A labor judge in Mexico City has ruled that the strike of a local mining union is illegal at ArcelorMittal Mexico’s Lazaro Cardenas mill and Las Truchas mine in Michoacán state, Mexico.
Steel Dynamics Inc.’s (SDI’s) earnings slid in the second quarter, but the company's top executive believes steel tags are set to rise.
Cleveland-Cliffs has been pursuing M&A opportunities for some time now and thinks it has found a solid partner with aligned interests in Stelco. The companies announced on Monday that Cliffs would acquire the integrated Canadian steelmaker. That same day, Cliffs held a conference call with analysts to discuss the acquisition. Lourenco Goncalves, Cliffs’ chairman, president, […]