Alro Steel has acquired Ace Steel, a Roanoke, Va.-based service center and distributor of steel and plastic products. The deal will grow Alro’s customer base while providing improved service for cut-to-size metals and plastics, the company said. Established in 1992 as a full-service metal distributor, Ace Steel serves the Roanoke Valley in Virginia. The acquisition strengthens […]
Arkansas lawmakers have introduced a bill that would expand tax credits in a bid to attract U.S. Steel’s planned $3 billion electric arc furnace (EAF) sheet steel mill to the state. And the bill’s lead sponsor, state Sen. Dave Wallace (R), narrowed down potential locations even further. He said tax credits were aimed at convincing the Pittsburgh-based steelmaker to invest its […]
Mill Steel Co., one of the nation’s largest distributors of flat-rolled carbon steel, now offers its full line of flat-rolled carbon steel products for purchase through its e-commerce website. The website features 65,000+ tons of steel available for purchase with full physical and chemical certifications provided for each coil, the company said. The user-friendly e-commerce […]
Companhia Siderúrgica Nacional (CSN) is considering plans to build an electric arc furnace (EAF) long products mill and a galvanizing facility for steel sheet in the United States. That’s according to an investor presentation in which the Brazilian steelmaker said new plants in the U.S. as well as expansions in Europe and in Brazil were […]
Brazilian iron ore miner Vale is in an “advanced stage of negotiations” to sell its stake in California Steel Industries (CSI), according to an investor day presentation. The presentation did not say which company Vale was in talks with. CSI is a Fontana, Calif.-based slab converter. It is also a 50-50 joint venture between Vale […]
Nucor Corp. plans to build a new, $350 million rebar “micro mill” in the South Atlantic region of the U.S. The new mill is expected to have capacity of 430,000 tons per year, the Charlotte, N.C.-based steelmaker said. “We have recently executed two successful rebar micro mill start-ups and believe the East Coast market will be in […]
Algoma Steel Group Inc. has picked Danieli & C. Officine Meccaniche S.p.A (Danieli) as the technology provider for their new electric arc (EAF) steelmaking facility set for operation in early 2024. The Sault Ste. Marie, Ontario-based steelmaker said that Danieli’s systems were the best choice for their new mill as they transition away from basic […]
Canadian metals distributor and industrial products manufacturer Samuel, Son & Co., Ltd., appointed Brian Cooke as incoming president of its Manufacturing Division. In the planned transition, Cooke succeeds Rod Crawford, who previously announced his plan to retire in June 2022. The two will work closely together, the company said, to ensure a successful transition until […]
Canadian distributor Russel Metals finalized its purchase of Boyd Metals, expanding its U.S. footprint. The deal for the Fort Smith, Ark.,-based service center cost $110 million and covers all of Boyd’s assets, the company said. Boyd operates five steel service centers located in Arkansas, Missouri, Oklahoma, and Texas. They deliver a product mix primarily comprised of […]
Worthington Industries Inc. completed its acquisition of Tempel Steel Company, a manufacturer of precision motor and transformer laminations for the electrical steel market. The deal, originally valued around $255 million, expands the Columbus, Ohio-based manufacturer’s steel processing segment in the growing electric vehicle (EV) market. Tempel Steel, headquartered in Chicago and founded 1945, specializes in […]
Algoma Steel Inc. has secured Canadian $220 million (U.S. $172 million) in funding from the Canada Infrastructure Bank (CIB) to help pay for its conversion to electric-arc furnace (EAF) steelmaking. The Sault Ste. Marie, Ontario-based steelmaker said the government money would pay for equipment for the project, which carries a total price tag of approximately […]
Friedman Industries reported the most profitable quarter in the company’s history with earnings for its fiscal second quarter ended Sept. 30 of $13.2 million on sales of $92.6 million. That’s a big turnaround from the same quarter last year when the company lost $250,000 on sales of $24.9 million due to the pandemic. Results for […]
Federal Steel Supply, a stocking distributor of carbon steel and chrome-moly tubular products, has acquired Process Piping Materials, a distributor of industrial pipe, fittings, valves and flanges. Terms of the deal were not released. PPM’s founders will remain active in the business. Federal Steel Supply is headquartered in Chesterfield, Mo., with a distribution facility in […]
NLMK USA has resumed production at its electric arc furnace (EAF) sheet mill in Portage, Ind., after a planned maintenance outage, according to sources familiar with the matter. The outage at the mill – also known as NLMK Indiana – began earlier this month and had been expected to conclude in about a week. NLMK […]
Nucor Corp. will add a blast and prime line to its greenfield steel plate mill currently under construction in Brandenburg, Ky. The blast and prime line will have an annual capacity of approximately 120,000 tons and will provide the Nucor Plate Group with even broader capabilities and offerings for buyers of wider and thicker plate products. The Charlotte-based steelmaker […]
Cleveland-Cliffs Inc. has completed its $775 million acquisition of scrap recycler Ferrous Processing and Trading (FPT). Cliffs Chairman, President and CEO Lourenco Goncalves said the deal could change the way the scrap business has traditionally worked by creating more “closed-loop” transactions. Such deals would mean more scrap – and especially prime scrap, FPT’s specialty – goes […]
Distributors who sell galvanized steel products to the construction and HVAC sectors still feel very positive about their prospects heading into next year despite weakening prices and rising inventories. Declines in galvanized prices out of the domestic mills have been fairly minor so far and demand remains strong, reported members of the Heating, Air-Conditioning & […]
Alro Steel Corp. will expand its operations into Iowa with the construction of a new regional distribution center, according to local media reports. The Jackson, Mich.-based metals and plastics distributor is planning to build a nearly 200,000-square-foot facility at an estimated cost of $20 million. The plant is expected to bring roughly 40 new jobs to […]
Algoma Steel posted record profits in its fiscal second quarter, and the Canadian flat-rolled steelmaker expects money to continue to pour in as high spot prices roll into 2022 contracts. The Sault Ste Marie, Ontario-based company also thinks that the traditional relationship between sheet and plate prices will be restored as infrastructure spending increases demand for […]
The board of Canadian flat-rolled steelmaker Algoma has approved the construction of two new electric arc furnaces (EAFs) with combined steelmaking capacity of 3.7 million tons per year. The new EAFs are expected to come online in 2024 and to replace the Sault Ste. Marie, Ontario-based company’s blast furnaces and basic oxygen furnaces. “We believe […]
ArcelorMital Tubular Products and the United Steelworkers (USW) Union Local #3057 have ended their five-day standoff by agreeing to a new four-year labor contract, a company spokesperson confirmed to Steel Market Update. The new deal – already ratified by the members of the local USW – ensures work can now resume at ArcelorMittal’s tube plant […]
ArcelorMittal recorded it best quarterly earnings performance since 2008 in the third quarter as sharply higher prices offset lower shipment volumes. The shipment declines came partly because of weaker demand and order cancellations from the automotive sector, the company said. The automotive industry has struggled with various supply chain issues, most notably – but not […]
Canadian flat-rolled steelmaker Stelco posted the highest quarterly profits in its history in the third quarter on strong demand, high prices and increased shipment volumes. And the Hamilton, Ontario-based company predicted that the momentum would roll into the fourth quarter too. “Once again, our business has demonstrated our ability to take full advantage of strong market conditions […]
NLMK USA is in the middle of an approximately week-long planned outage at its steel mill in Portage, Ind., industry sources said. The outage at the electric arc furnace (EAF) sheet mill – also known as NLMK Indiana – began on Saturday night and is expected to be wrapped up this weekend. NLMK USA typically […]
Ternium is considering adding a new electric arc furnace to its operations in North America as well as downstream cold rolling and coating capability. That’s according to sources familiar with the matter and as indiciated in recent public comments from company executives. The most likely candidate for any new EAF would be Pesquería, Mexico – […]
Owen Industries, a service center, processor and fabricator of steel sheet and plate based in Carter Lake, Iowa, has acquired the assets of Omaha Steel, a steel foundry in Wahoo, Neb. The acquisition includes a newly built foundry facility that gives Owen Industries the opportunity to expand its offerings into the design and production of […]
Canada’s Russel Metals reported “an exceptionally strong third quarter built on the back of a really strong Q2.” Company executives on Friday’s earnings call pointed to the various moves the company has made in the past two years to position it to take advantage of the prevailing market conditions. Most recent was this week’s announcement […]
Canadian distributor Russel Metals has expanded its U.S. footprint by agreeing to acquire Arkansas-based service center Boyd Metals. The deal, valued at $110 million, includes all five of Boyd’s facilities. Boyd’s operations in Arkansas, Missouri, Oklahoma, and Texas deliver a product mix primarily comprised of carbon steel products. The company also offers stainless steel, aluminum and other industrial […]
BlueScope Steel plans to acquire U.S. ferrous scrap recycler MetalX LLC for $240 million. MetalX is the leading scrap supplier to North Star BlueScope, the Australian steelmaker’s electric arc furnace (EAF) sheet mill in Delta, Ohio. The deal is expected to close by the end of December, BlueScope said in a press release. MetalX operates […]
United Steelworkers (USW) members at ArcelorMittal’s tube plant in Shelby, Ohio, have been on strike since midnight on Sunday, according to local media reports. That’s when a four-year labor contract between the Luxembourg-based steelmaker and USW Local 3057 expired. Sticking points in contract talks include time off over holidays as well as pension and health […]