Alro Steel Corp. has acquired Metal Stock, a Philadelphia-based service center and distributor of steel and plastic products. This asset purchase will allow Alro to grow its customer base while providing improved service for cut-to-size metals and plastics, the company said. Established in 1994 as a full-service metal distributor, Metal Stocks serves Eastern Pennsylvania, New Jersey, […]
Cleveland-Cliffs Inc. has officially rolled out the new scrap division that its top executive first mentioned at the SMU Steel Summit last week in Atlanta. The Cleveland-based steelmaker also confirmed that its CFO, Keith Koci, had been promoted to president of Cleveland-Cliffs Services, the official name of the new scrap, logistics and raw materials wing […]
Nucor plans to restart its direct-reduced iron (DRI) plant in Louisiana after pre-emptively idling the facility ahead of Hurricane Ida. “Our Nucor teammates and their families are safe, and the DRI plant did not sustain any major damage from the storm,” a company spokeswoman said. “We expect to resume operations in the coming days when […]
Despite some regional shifts in commercial construction, demand remains robust – while some project delays are creating backlogs that will likely drive additional construction activity in late Q4 and into early 2022, said members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Demand for HVAC and other galvanized-intensive steel products remains strong, said members of […]
Majestic Steel USA will build a new service center, processing facility and master distribution site on the campus of Nucor Steel Arkansas. The Cleveland-based service center said the new location in Blytheville, Ark., would allow it to better serve customers in the central and southern U.S. The facility – expected to be fully operational by […]
Mexican steelmaker Altos Hornos de México (AHMSA) has called off its deal with service center Grupo Villacero, according to regulatory filings in Mexico. AHMSA said it had scrapped the agreement with Alianza Minero Metalúrgica Internacional because of alleged “legal irregularities.” Alianza is a group of investors led by Grupo Villacero President Julio Villarreal, per Mexican […]
California Steel Industries (CSI) has opened its November order book for flat-rolled steel and increased prices, according to market participants. CSI did not specify whether it had increased prices. But it has quietly hiked prices in prior months along with the opening of books. The latest hike was approximately $60-80 per ton ($3-4 per cwt) […]
Ternium Mexico continues to ramp up its new hot strip mill outside of Monterrey while also eyeing potential expansions on both sides of the Rio Grande, the company’s top executive said. “We still have a lot of things to do in Mexico. But also in the States, our facility is running at 100% capacity – so we […]
Nucor has idled its Castrip® mill in Crawfordsville, Ind., and consolidated its remaining Castrip® business at its mill in Blytheville, Ark., a company spokeswoman confirmed. The Indiana mill was idled in 2020, and the Arkansas Castrip® operations “will continue to operate on a limited basis as we conclude our commitments to our customers,” she said. […]
Steel Dynamics’ top executive said he remains very optimistic about the market’s outlook, especially for the balance of 2021, but expects the trend to carry well into 2022. “I’m really bullish,” said Mark Millett, SDI’s president and CEO, during a fireside chat at SMU’s 2021 Steel Summit on Tuesday in Atlanta. “We’re booking for December […]
Cleveland-Cliffs reported that its COVID vaccination incentive program worked. In July, the steelmaker launched a voluntary bonus program, in collaboration with its labor unions, to achieve a higher vaccine adoption rate across the business. The company says it reached a total vaccination rate of 75%, or nearly 19,000 employees out of its 25,000 workforce, by […]
Nucor might be wrapping up an approximately $4-billion expansion campaign, but it has no intentions of stopping there, the company’s top executive said. “We’re going to be a growth company. … And we’ve got the balance sheet to continue to invest,” President and CEO Leon Topalian said. Topalian declined to specify where the company might […]
Cleveland-Cliffs Inc. plans to expand into the scrap market – and is creating a new division for that purpose, the company’s top executive said. The scrap division – Cleveland-Cliffs Services – will be spearheaded by Keith Koci, Cliff’s chief financial officer. More details about the venture will be made available in early September, Cliffs Chairman, President and […]
Nucor Corp. has acquired Hannibal Industries, Inc., a national provider of steel racking solutions headquartered in Los Angeles, Calif. “We are excited to officially welcome our Hannibal teammates as part of the Nucor team,” said Giff Daughtridge, president of Sheet and Tubular Products. “Adding steel racking solutions to our product portfolio expands our ability to […]
Algoma Steel Inc. reported strong results for its fiscal first quarter ended June 30, setting the stage for its parent company, Algoma Steel Group Inc., to become a public company later in 2021. Algoma reported net income of $214 million Canadian ($166.6 million U.S.), nearly double its earnings in the prior quarter. The Ontario-based steelmaker attributed […]
Latin American steelmaker Ternium and Brazilian iron ore miner Vale have signed an agreement to work together to lower carbon emissions. Potential joint investments include an iron ore briquetting plant near Ternium Brasil, the company’s steel mill in Rio de Janeiro, and pig iron made from alternate raw materials such as biomass. “Vale is a […]
Swedish steelmaker SSAB said it has produced the world’s first-fossil free steel and delivered a trial order to automaker Volvo. “It’s possible to … significantly reduce the global carbon footprint of the steel industry. We hope that this will inspire others to also want to speed up the green transition,” SSAB President and CEO Martin Lindqvist […]
Majestic Steel USA has acquired West Coast service center Merit Steel USA in a push to expand its presence in the region. The Cleveland-based service center said persistent supply chain constraints bolstered the case for growing its footprint west of the Rocky Mountains. Terms of the deal were not disclosed. “Merit has a strong reputation as a […]
U.S. Steel plans to take additional outages at its blast furnaces in the Midwest, the company confirmed. The Pittsburgh-based steelmaker will take an approximately seven-day outage on the B furnace at its Granite City Works outside of St. Louis beginning on Oct. 1, a company spokeswoman said. And U.S. Steel will also take a roughly […]
Leeco Steel, which claims to be the largest supplier of steel plate in North America, has launched a new ecommerce website, Leeco Pro. Leeco Pro is available for current Leeco customers and allows users to browse and purchase 12 core grades of steel plate across 32 thicknesses and in pattern sizes. The platform will offer a […]
Allegheny Technologies Inc. (ATI) has sold its Flowform Products business to Consolidated Boring Inc. for $55 million in cash. Proceeds from the sale of Billerica, Mass.-based Flowform will be used to boost ATI’s liquidity and to strengthen its balance sheet, the company said. “While ATI Flowform is a strong performer with a great team serving […]
Schnitzer Steel Industries Inc. has resumed production at its Cascade Steel Rolling Mills in McMinnville, Ore., following a fire in late May that damaged the facility’s melt shop. The Portland, Ore.-based recycler, which also owns the Oregon mill, said the facility was accepting orders after restarting operations several weeks earlier than expected. “I am proud […]
North Star BlueScope is commissioning a new melt shop at its flat-rolled steel mill in Delta, Ohio, with the first heat expected this month. And equipment installation for a ladle metallurgy furnace is “substantially complete” as well, North Star’s parent company – Australian steelmaker BlueScope – said in documents released with earnings data on Monday, Aug. […]
BlueScope Steel Ltd. posted record earnings in its 2021 fiscal year thanks to strong demand and record metal spreads. All told, the Australian steelmaker – the parent company of Delta, Ohio-based North Star BlueScope – recorded net profit of Australian $1.19 billion ($870 million U.S.) in its fiscal year ended June 30, 2021, up more […]
Steel prices will go higher and stay stronger, predicted company executives during Stelco’s second-quarter 2021 earnings call on Wednesday. The Hamilton, Ontario-based flat-rolled steelmaker was rather bullish on the prospect of steel prices and their general direction through 2022 and beyond. As the company claimed “industry-leading profit margins” and record-setting quarterly results due to a favorable pricing […]
Integrated steelmaker U.S. Steel is taking the No. 6 blast furnace at its Gary Works steel mill offline for 38 days beginning at the end of next month, a company spokesperson confirmed to Steel Market Update. The planned maintenance outage at its Indiana facility is scheduled for Sept. 30 and should run through Nov. 9. […]
Willbanks Metals is upgrading the plate processing capabilities at its Fort Worth, Texas, facility with a new heavy gauge cut-to-length line and stretcher leveler. The new line, from Red Bud Industries, “is an exciting addition giving our current and future customers the flattest plate product in the market,” said Ryan Letz, Willbanks’ co-owner and CCO. The […]
Canadian flat-rolled steelmaker Stelco announced “industry-leading profit margins” and record-setting quarterly results for the second straight quarter in Q2 2021. The integrated steelmaker’s second-quarter adjusted net income was $380 million Canadian ($303.5 million U.S.) versus C$10 million ($7.99 million) in the year-ago quarter on revenue that soared 123% to C$918 million ($733.2 million). “We are […]
Lapham-Hickey Steel Corp. has acquired Rebel Steel, a service center specializing in slitting of cold-rolled and coated steels based in Nashville, Tenn. “The acquisition of Rebel Steel is an exciting addition to our existing footprint. Having brick and mortar with rail access in the Nashville area will allow us to competitively service the Tennessee and […]
Nucor has completed its previously announced acquisition of Cornerstone Building Brands’ insulated metal panels (IMP) business. The $1 billion deal expands the steelmaker’s reach into the construction market. The Nucor management team is in place and the CENTRIA and Metl-Span brands acquired from Cornerstone Building Brands are now a part of the newly created Insulated […]