Category: Steel Product Producers

Cleveland-Cliffs has decided to idle the steelmaking operations at its Dearborn Works in Michigan due to weak automotive demand.

Raw steel mill output declined last week for the second-consecutive week, according to the American Iron and Steel Institute (AISI).

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.

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.

The temporary measures “are necessary to re-balance working capital needs and consume excess pellet inventory produced in 2024,” Cliffs told SMU.

Nucor anticipates showing an earnings decline when it releases its full first-quarter earnings report on Monday, April 28.

The Pittsburgh steelmaker expects to see increasing volumes from both Big River Steel and Big River 2.

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’s earnings tumbled in its fiscal second quarter on seasonal weakness and continued shakiness in the wider economy.

SDI expects energy, non-residential construction, and automotive to continue to drive demand.

Demand is up, but tariffs raise concerns

The government said it hopes to reach an agreement with the two companies outside of the courts, according to a filing last week.

Zekelman Industries has made changes to its leadership structure.

The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.

Algoma Steel has resumed shipments to the US, effective Friday, March 14. And the Canadian steelmaker sees a potential opportunity with the current tariff situation.

Algoma Steel's net loss narrowed in the fourth quarter vs. a year earlier amid economic uncertainty and tariff-related issues.

Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.

Cleveland-based Olympic Steel Inc. has promoted Scott M. Zito to the newly created role of vice president of business development. Zito has been with the company for more than 40 years.

Pacific Steel Group has broken ground on its Mojave Micro Mill in Southern California.

Nucor has increased its weekly HR coil spot price for seven consecutive weeks.

"We urge you to resist any requests for exceptions or exclusions and to continue standing strong on behalf of American steel," the companies wrote.

Cleveland-Cliffs Inc. has introduced a new employee incentive program to promote American-made vehicles, support domestic production, and strengthen US supply chains.

An inventory valuation of the assets of Altos Hornos de Mexico SA (AHMSA) has been completed. Local reports suggest an auction for the assets of the bankrupt steel company could come as soon as the end of this month.

AISI reported a 4.1% rise in US steel mill shipments from December to January.

Facing an uncertain tariff trade war, Algoma Steel took action this week, halting steel shipments to the US, laying off employees, and prepping for an unknown future, according to local media reports.

The company said 79 workers will be impacted.

Worthington Steel confirmed it is closing the Worthington Samuel Coil Processing (WSCP) facility in Cleveland. WSCP is a joint venture between Worthington Steel and Oakville, Ontario-based Samuel, Son & Co.

The investment firm seeking to oust U.S. Steel’s leadership has asked the steelmaker to schedule its annual shareholder meeting after June 18. That’s the deadline set by the US government for USS and Nippon Steel to unwind their nearly $15-billion merger deal. Ancora Holdings Group sent a letter dated Feb. 27 to board members of […]

"We experienced an event at the blast furnace which required a controlled shut down to facilitate repairs," a spokesperson said.

Global crude steel output rose 5% from December to January but still lagged last year.