Galv buyers notched strong Q1, but see uncertainty on the horizon
Participants on the HARDI Sheet Metal/Air Handling Council call said underlying demand is solid but there are slower pockets in some markets.
Category: Steel Product Producers
AZZ Inc.'s earnings rise, but sales dip on weather woes
AZZ Inc. posted higher earnings in its fiscal fourth quarter, but sales slipped on weather disruptions.
POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.
POSCO mulls teaming up with Hyundai on Louisiana mill
South Korea’s POSCO is eyeing linking up with Hyundai Steel in the project to build a steel plant in Louisiana, according to media reports.
GM names Worthington a 2024 Supplier of the Year
This is the Ohio-based steelmaker’s fourth time winning the award.
Olympic taps Hegler for GM role at Action Stainless
Olympic Steel has named Alex Hegler as general manager for its Action Stainless facility in Rock Hill, S.C.
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."
Reports: Federal funding for Cliffs' project could be slashed
Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Algoma looks to sell more steel in Canada in wake of Trump's tariffs
The Canadian steelmaker said its absorbing higher tariffs as it moves forward.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”
Ancora says plan for USS would yield higher value than Nippon deal
Ancora’s intention to replace U.S. Steel's leadership was first announced in late January.
Trump orders new CFIUS review for USS
President Trump has ordered a new review of Nippon Steel’s proposed buy of U.S. Steel, to be completed within 45 days.
Nucor's Utermark to retire in June
Chad Utermark, executive vice president of new markets and innovation, plans to retire effective June 7.
Olympic opens new Houston facility for Action Stainless unit
Olympic Steel has opened a new facility in Houston to support its Action Stainless business.
Nippon could up investment in USS facilities to $7B: Report
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.
Hybar expansion still on the table as Arkansas mill startup nears
As Hybar nears the completion of its $700-million rebar mill in Arkansas, the company said it is still “actively considering” building other steel facilities in the southern US.
Bull Moose announces closure of Ontario tube plant
The welded tube maker is closing its only manufacturing facility in Canada after serving the Canadian market for over 35 years.
Global steel production edges lower in February
February’s global raw steel output is tied with last December's for the fourth-lowest monthly production rate recorded over the past two years.
Fate of U.S. Steel hangs in the balance
The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.
Cliffs to idle Dearborn blast furnace, restart Cleveland furnace by July
Cleveland-Cliffs has decided to idle the steelmaking operations at its Dearborn Works in Michigan due to weak automotive demand.
AISI: Raw steel production slipped last week
Raw steel mill output declined last week for the second-consecutive week, according to the American Iron and Steel Institute (AISI).
Hyundai formalizes plan to build $5.8B steel mill in Louisiana
South Korea’s Hyundai has formally announced a nearly $6-billion investment to build a steel mill in Louisiana to supply steel for the company’s automotive interests in the southeastern US.
CMC looks beyond Arizona micro-mill woes to long-term viability of construction mart
Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
Cliffs slates layoffs at Minnesota mines due to excess iron ore supply
The temporary measures “are necessary to re-balance working capital needs and consume excess pellet inventory produced in 2024,” Cliffs told SMU.
Nucor guides to lower first-quarter results
Nucor anticipates showing an earnings decline when it releases its full first-quarter earnings report on Monday, April 28.
U.S. Steel anticipates a loss in first quarter
The Pittsburgh steelmaker expects to see increasing volumes from both Big River Steel and Big River 2.
Worthington Steel sees demand improvement after earnings slump
Lower volumes and steel prices dampened Worthington Steel’s profits, but market momentum is building, the metals processor said in its most recent quarterly earnings report.
CMC earnings fall on seasonal weakness, economy woes
CMC’s earnings tumbled in its fiscal second quarter on seasonal weakness and continued shakiness in the wider economy.
SDI anticipates improved Q1 profits on better shipments
SDI expects energy, non-residential construction, and automotive to continue to drive demand.