Category: Steel Product Producers

Steel Dynamics Inc.’s (SDI’s) top executive sees hot band demand remaining strong in 2024, which should support pricing.

JSW Steel USA has teamed up with Primetals Technologies to upgrade its slab casting capabilities at the company's Mingo Junction, Ohio, slab and hot-rolled sheet mill.

Steel Dynamics Inc. (SDI) reported lower fourth quarter 2023 earnings on Tuesday but predicted good times ahead in 2024. The Fort Wayne, Ind.-based steelmaker posted a Q4’23 profit of $424.3 million, down 33.2% from a profit of $634.9 million in Q4’22 on sales that fell 12.3% to $4.2 billion.

Canadian flat-rolled steelmaker Algoma Steel said its blast furnace could be down for approximately two weeks following an incident at its coke batteries over the weekend. “We expect some impact on shipments, the extent of which will depend on the timeline to resume blast furnace operations,” the Sault Ste. Marie, Ontario-based company said

India-based Tata Steel is to close down the two blast furnaces at its loss-making Port Talbot works in South Wales, UK, during a four-year switch to EAF-based steel making. Under the proposals, 2,800 jobs are at risk.

Algoma Steel Group has halted coke production in Sault Ste. Marie, Ontario, after an incident at its coke-making facility this past weekend.

Both the United Steel Workers (USW) union and a number of politicians oppose the deal. The USW supports Cleveland-Cliffs’ offer. That offer is almost half of what Nippon Steel has proposed and what has been accepted by U.S Steel. I don’t understand the USW opposition to Nippon Steel buying U.S. Steel and the union favoring Cleveland-Cliffs. If Cleveland-Cliffs were to acquire U.S. Steel, it would likely mean the end of a headquarters in Pittsburgh.

Raw steel production in the US decreased marginally in the second week of 2024, according to the most recent data from the American Iron and Steel Institute (AISI). Domestic steel output totaled an estimated 1,699,000 net tons in the week ended Jan. 13. That’s down 0.5% from the previous week, and comparable to the same […]

Coming out of a strong fourth quarter, galvanized steel market participants are reporting an above-average start to January and are cautiously optimistic for 2024.

November’s shipments for domestic heating and cooling equipment shipments declined for a third consecutive month, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

Nippon Steel said Eiji Hashimoto has been named chairman and CEO, effective April 1.

The United Steelworkers (USW) union is accusing U.S. Steel of labor contract violations as the steelmaker pursues its potential sale to Nippon Steel.

Employees at the Mercedes-Benz plant near Tuscaloosa, Ala., have kicked off their public campaign to join the United Auto Workers (UAW) union.

TimkenSteel said on Wednesday it is changing its company name to “Metallus Inc.”

Domestic steel mill shipments increased in November vs. a year earlier, but fell month over month.

Flat rolled distributor Mill Steel Co. announced the appointment of a new CFO on Jan. 9.

Raw steel production in the US increased in the first week of 2024, according to the most recent data from AISI.

Nippon Steel believes it can successfully complete its planned buy of U.S. Steel, according to a report in Reuters.

Commercial Metals Co. saw robust demand from the construction markets in its first fiscal quarter, which ended on Nov. 30, 2023.

Steel mill lead times pulled back across the board this week but are still said to be at healthy levels, according to SMU's market survey this week.

Canadian flat-rolled steelmaker Algoma Steel Group Inc. guided toward lower earnings in its fiscal 2024 third quarter, citing the United Auto Workers (UAW) strike and lower steel prices last fall.

Cleveland-Cliffs has appointed private-equity executive Ron Bloom to its board of directors, effective immediately.

Olympic Steel has promoted Zachary Siegal to the newly created role of president of manufactured metal products.

Raw steel production in the US fell to a 38-week low to close out the last week of 2023.

Wilbur Ross doesn’t believe the proposed sale of U.S. Steel to Japan’s Nippon Steel poses any threat to the economic or national security of the US.

After meeting with Nippon Steel, the United Steelworkers (USW) union remains weary of the company’s proposed acquisition of U.S. Steel.

The latest American Iron and Steel Institute (AISI) production figures show domestic steel output slipping the week before the Christmas holiday. Domestic mills produced an estimated 1,693,000 net tons of steel during the week ended Dec. 23, AISI said. Output was down 1.2% from the previous week but was 7.4% higher than the same week […]

The newly separated Worthington Steel noted improved earnings in its fiscal second-quarter results.

A White House official said the planned $14.1-billion acquisition of U.S. Steel by Japan's Nippon Steel deserved a closer look. President Joe Biden "believes the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability."

Metalformers remain optimistic about business prospects for the first quarter of 2024 despite some concerns about what Nippon Steel’s $14.1-billion deal for U.S. Steel might mean for domestic supply chains.