
U.S. Steel Gives USW Some Assurances in Sales Process
U.S. Steel has provided some clarity for the United Steelworkers (USW) union regarding the union's rights as the steelmaker considers multiple offers to buy the company.
U.S. Steel has provided some clarity for the United Steelworkers (USW) union regarding the union's rights as the steelmaker considers multiple offers to buy the company.
U.S. Steel dropped a bombshell last week when it announced that it is up for sale. While a company buyout would be profitable for any buyer, there could be regulatory hurdles, according to industry analysts.
Longview, Texas-based steel processor Friedman Industries is anticipating steady demand in the current quarter.
Stellantis is apparently not thrilled with the demands of the United Auto Workers as the parties make their way through this year’s labor negotiations.
Esmark Inc. announced on Monday a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel of $35 per share.
U.S. Steel has an upcoming mill outage planned for routine maintenance at its Big River Steel mill in Osceola, Ark.
U.S. Steel dropped a bombshell on Sunday, announcing that it started a formal process to review multiple unsolicited offers for the company. Cleveland-Cliffs followed with an explosive announcement of its own just hours later: that it had offered to buy U.S. Steel and that the board of the Pittsburgh-based steelmaker had rejected its offer as "unreasonable."
Russel Metals posted solid second-quarter earnings. The Toronto-based company anticipates a continuation in steady demand for its service centers and steel distributors.
Canada's Algoma Steel Inc. reported better than expected results for its fiscal 2024 first quarter.
Republic Steel said it will indefinitely idle operations at its Canton, Ohio, and Lackawanna, N.Y., mills due to challenging business conditions.
Longs producer and metal recycler Gerdau reported lower second-quarter production and shipments due to several mill outages.
U.S. Steel has announced a collaboration with Google Cloud to build applications using Google Cloud’s generative artificial intelligence (gen AI) technology.
Flack Global Metals (FGM) said it has completed an investment in Windsor America, parent of Windsor Door, Garage Door Services of USA and Lodi Door.
While Canadian integrated steelmaker Stelco remains committed to decarbonization its steelmaking operations, it has no plans to convert to electric-arc furnace (EAF) steelmaking, nor to buy an EAF steelmaker anytime soon.
A former leader of Ford Motor Co. recently spoke out on the potential for a United Auto Workers (UAW) strike at the Big Three Detroit automakers.
Canadian union Unifor kicked off negotiations with the Detroit 3 automakers today, with its president saying the “talks will be the most consequential and closely watched in decades.”
Nucor Corp. announced it will be providing steel to help build a new solar project in Kentucky. In addition, the steelmaker has agreed to purchase power from the project.
Despite an uncertain economic outlook, Olympic Steel is expecting demand to remain steady in the current quarter.
An article published on July 30 said that U.S. Steel appeared to be getting out of the tinplate business. That was incorrect. U.S. Steel remains in the tinplate business. It continues to process orders from existing customers and to accept orders from new customers.
Latin American steelmaker Ternium remains optimistic that positive trends in the Mexican market will help it to continue increasing its market share.
While Ternium is expecting an increase in shipments in the current quarter, a decrease in earnings is also anticipated due to lower international steel prices and higher unit costs.
Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings. The Chicago-based service center group reported net income of $38 million in Q2’23, down 81% from $196 million a year earlier on revenue that fell 23% to $1.34 billion. “Shifting consumer spending patterns, higher interest rates, […]
Mexican steelmaker Altos Hornos de México (AHMSA) said there could be an “indefinite” delay to the restart of production because of a blockade by activists. The company said its steel plants in Monclova, Coahuila state, were blockaded by activists of the Sindicato Nacional Minero (National Mining Union), which represents AHMSA’s striking workers, according to a […]
Nucor has received its final federal permit to begin construction on its sheet mill in Mason County, W.Va. The Charlotte, N.C.-based steelmaker said it received the permit on Friday from the US Army Corps of Engineers to start work on the ~$3.1-billion project. Construction is set to begin immediately and expected to last approximately two years, Nucor […]
Steel prices and shipment volumes will probably be lower in the third quarter than they were in the second, U.S. Steel executives said.
Indian steelmaker JSW Steel reported improved performance at its JSW Steel USA operations in the first quarter of its 2024 fiscal year. Recall that JSW operates a sheet and slab mill in Mingo Junction, Ohio, and a plate and pipe mill in Baytown, Texas. The Mingo mill makes slabs not only for internal consumption but also for sale to […]
U.S. Steel recorded lower profits in Q2’23 compared to Q2’22 on the heels of a drop in steel prices and a dip in shipments. The Pittsburgh-based steelmaker reported net income of $477 million in Q2’23, down 51% from $978 million in Q2’22 on sales that fell 20% to $5.01 billion over the same period. The […]
ArcelorMittal’s earnings increased sequentially in the second quarter of 2023, but fell on-year, with recent acquisitions in Brazil, Texas, and Mexico contributing to underlying performance. The Luxembourg-based steelmaker posted net income of $1.86 billion in Q2’23, up 70% from $1.1 billion in the prior quarter, but down 59% from $4.49 billion a year earlier on […]
Reliance Steel & Aluminum Co. posted second quarter results consistent with the previous quarter’s, even as shipments slipped. The Scottsdale, Ariz.-based service center behemoth shipped 1.484 million tons in Q2, 1.2 million of which were carbon steel products. Overall shipments were down 2.4% sequentially, with carbon shipments declining 2.1%. Compared to the same quarter last […]
U.S. Steel has temporarily idled the No. 3 blast furnace at its steel mill in Košice, Slovakia, for annual maintenance.