Dennis Leebow, the founder and former president and CEO of Cleveland-based, family-owned service center Majestic Steel USA, passed away on July 12, 2023, at the age of 72. Leebow was a graduate of the Ohio State University. He worked as a salesman at his grandfather’s company, Baldwin Steel, before embarking on his own adventure and […]
Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. is taking advantage of opportunities in the Mexican steel market and plans to continue doing so moving forward. Executives discussed some of those opportunities on the company’s second-quarter earnings conference call on Thursday, July 20. The location and capabilities of SDI’s newest flat-rolled steel mill in Sinton, Texas, […]
While a weak European market is hampering SSAB’s quarterly results, the US market is providing more stability for the Swedish steelmaker. SSAB Americas’ second-quarter performance, together with those of the company’s Special Steels segment, provided a bright spot for the company despite the woes in Europe. SSAB produces steel plate at its US operations in […]
The hot end of Steel Dynamics Inc.’s (SDI) Sinton, Texas, sheet mill is expected to be back up and running in the next few days. Executives made the announcement on the company’s second quarter earnings conference call with analysts on Thursday, July 20. On July 7, SDI announced an unplanned outage at the hot mill, […]
Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]
Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]
Commercial Metals Co. (CMC) has secured a permit giving it the go-ahead to begin construction of its new micro mill in West Virginia. The Irving, Texas-based longs and scrap producer said on July18 the West Virginia Department of Environmental Protection granted it the permit, allowing for the commencement of construction of its “fourth technologically advanced micro […]
Olympic Steel has made leadership changes relating to the company’s fabrication growth strategy. The Cleveland-based metals service center said in a press release Tuesday that Edward ‘Max’ Fitzgerald has joined the company in the newly created role of vice president – fabrication. Fitzgerald will focus on strengthening the company’s “fabrication-related commercial presence, facilitating operational standardization, and […]
Commercial Metals Co. (CMC) has secured a permit giving it the go-ahead to begin construction of its new micro mill in West Virginia.
AZZ Inc. reported an 18% increase in net income in its fiscal first quarter of 2024, driven by a strong performance in its Metal Coatings business and by a full quarter with its Precoat Metals acquisition. The Fort Worth, Texas-based galvanizer and coil coater posted net income of $28.5 million in its fiscal Q1 ended […]
U.S. Steel has announced environmental product declarations (EPDs) across three flat-rolled steel coil products melted at its Big River Steel Works in Osceola, Ark. The Pittsburgh-based steelmaker said Friday the offerings include hot-rolled, cold-rolled, and corrosion-resistant flat-rolled products from Big River Steel. “The EPDs provide quantifiable, independent, and audited environmental data on these core products,” […]
South Korean steelmaker Posco has big plans to increase its global production capacity, including the making of electrical steel in North America, according to local media reports. The Korea Times reported that Posco is planning to “build additional hyper non-oriented electrical steel factories in Korea and North America to produce 1 million tons of electrical […]
The ongoing drama with AHMSA continues, but the bankrupt Mexican steelmaker has finally put out an official statement. A spokesperson for the company has previously made statements to local media, but an official announcement has not been released by the company since April. On Wednesday, July 12, a statement was issued on the company’s Twitter […]
Jackson, Mich.-based Alro Steel said it plans to acquire Heimansohn Steel, a metals service center based in Clarksville, Tenn. Alro’s aquisition is expected to close by July 28, the company said in a news release on July 11. “We are excited to welcome Heimansohn Steel to the Alro family. This acquisition will benefit our customers with […]
Steel Dynamics Inc. (SDI) last week announced a two- to four-week outage on the hot mill at its Sinton, Texas, flat-rolled mill. The company said on Friday, July 7, that the unplanned outage resulted from “caster shear equipment issues” that occurred on July 1, but that it will continue to operate the cold mill and coating lines. Steel Market Update has […]
Commercial Metals Co. (CMC) said on Monday that Barbara R. Smith, the company’s CEO and chairman, will retire as CEO effective Sept. 1, and will be replaced by Peter Matt, who will serve as CEO and president. The Irving, Texas-based longs producer and metal recycler said that Smith has been appointed as executive chairman, also effective […]
Steel Dynamics (SDI) announced a two- to four-week outage on the hot mill at its flat-rolled steel mill in Sinton, Texas. The Fort Wayne, Ind.-based steelmaker said it expected the hot mill to restart before July 30. The company said in a release on Friday, July 7, that the outage, which was unplanned, resulted from “caster shear equipment […]
Argentem Creek Partners is in negotiations with the Kickapoo Tribe of Texas for a sum of approximately $1 billion dollars to invest in troubled Mexican steelmaker Altos Hornos de México (AHMSA), according to media reports. The US-based investment fund requested an initial loan of around $200 million from the Kickapoo Tribe, with a pre-negotiated goal […]
Olympic Steel announced changes to the company’s leadership team on Friday. Michael Heenan has been named general manager for the Cleveland-based metals service center’s Gary, Ind., temper mill processing and distribution facility. Heenan joined the company in 2010 and most recently served as regional sales manager for Olympic’s Gary and Schaumburg and Bartlett, Ill., Specialty […]
Leeco Steel has acquired Texas plate processor Titan Steel. Titan Steel, based in Alvarado, Texas, specializes in plasma and oxy-fuel cutting and machining of steel plate. The acquisition will allow Leeco to produce parts that require precision machining and milling. The purchase closed on June 30. Terms of the deal were not disclosed. As of […]
Ternium and Tenaris have upped their stake in Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais S.A. (Usiminas). Ternium’s Brazilian subsidiary Confab Industrial S.A., Ternium Investments, and Ternium Argentina, collectively known as the T/T group within the controlling group of Usiminas, closed on a previously announced acquisition of 68.7 million ordinary shares of Usiminas. The shares […]
SMU will be celebrating Independence Day along with the rest of you, so we won’t have an issue on Tuesday, July 4. I’ve highlighted three things to think about in the meantime whether you’re traveling to visit friends and family, stocking up on fireworks, or planning a quiet BBQ. Have Prices Found a Floor? We’ve […]
Wabash, Ind.-based Metal Source has completed its acquisition of Bedford Recycling, which has locations in Bedford and Mitchell, Ind. “We’re excited to integrate the Bedford recycling facility and Mitchell recycling facility into our current Metal Source business model,” Colin Denihan, Metal Source president and chief commercial officer of parent company Gebhart Holdings, told SMU in […]
The US Department of Commerce recently updated antidumping and countervailing duty rates on a number of different welded pipe and tube products. An SMU review of the US government’s Federal Register show the following changes by Commerce in multiple administrative reviews: Welded Line Pipe from South Korea Considering the one-year period ended Nov. 30, 2021, […]
France’s labor inspectorate has told Luxembourg-headquartered ArcelorMittal to temporarily close the hot end of its Fos-sur-Mer steel works because insufficient protection measures are exposing employees to high levels of toxic products and dust. The order will lead to the shutdown of the entire site, local media reported. The plant has been the subject of several […]
A round of price increases announced by domestic mills in mid-June appears to have stabilized pricing for hot-rolled coil for the time being. Meanwhile, rumors of another round of price hikes ping-ponged around the market on Tuesday, with sources predicting another wave of hikes sometime between this week and mid-July. SMU’s average HRC prices stands […]
CRU research manager Stephen Williamson shares an update on the aluminum market and pricing with SMU readers. This article was written The LME rallied in the days following the debt ceiling resolution by Congress and the price of aluminum pressed towards $2,300 per metric ton. This week, however, the price fell back through a key […]
US mills are now seeking as much as $950 per ton ($47.50 per cwt) for hot-rolled coil after the latest round of price hikes. The big question remains whether that figure will stick, “stop the bleeding,” or if it risks failing. It’s too early to provide any concrete answers to that. Our latest market survey found […]
The Metals Service Center Institute (MSCI) and Steel Manufacturers Association (SMA) kicked off their annual members conference on Wednesday, June 21. Members of both organizations have convened in Washington to discuss various topics related to the steel industry. A press conference on Wednesday afternoon included Philip K. Bell, president of SMA; Bob Weidner, president and CEO […]
In SMU’s market check this week, lead times for sheet and plate pulled back to some of the shortest times seen in several months. To see lead times this short, we have to go back to March for plate, January for galvanized sheet, and December for hot-rolled, cold-rolled, and Galvalume sheet. With mills pushing for […]