SSAB Americas reported record profits on shipments totaling 494,000 metric tons in the second quarter, up 2% from the previous quarter and up 6% when compared to the same year-ago period. Demand for heavy plate remained strong across most consumer segments, the company said. Sharp increases in steel prices pushed revenues up 32% from the […]
At least two North American plate producers have announced price increases of $120-160 per ton ($6-8/cwt). Nucor – the largest steelmaker in the U.S. – in a leading move announced the increase along with the opening of its September order book for plate. The increase – announced on Tuesday, July 20 – marks at least the third […]
Steel Dynamics Inc. (SDI) doesn’t see a big steel price correction in the cards because of broader – and largely unrecognized – structural shifts underway in the U.S. steel market, company executives said. Industry experts have been focused on potential negatives such as new capacity, increased imports and the removal of trade barriers. They are missing […]
Nucor has agreed to buy racking and hollow structural section (HSS) manufacturer Hannibal Industries Inc. for $370 million. “Acquiring Hannibal Industries gives us a new growth platform and broadens our offering to the fast-growing warehouse channel,” Nucor President and CEO Leon Topalian said. “This acquisition reflects our strategy of expanding beyond our core steel businesses and establishes […]
Steel Dynamics Inc. (SDI) kicked off steel earnings season by posting record second-quarter sales and record profits on ballooning metal spreads. And the Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker anticipates another record performance in the third quarter as well as strong demand into 2022. “We remain confident that macroeconomic and market conditions are […]
Cleveland-Cliffs Inc. has joined the ranks of North American steel mills planning steep cuts to greenhouse gas emissions over the next 10 years. The iron ore miner, pellet producer and flat-rolled steelmaker aims to cut greenhouse gas emissions by 25% by 2030 versus 2017 levels. The company said it would do so by using less […]
Evraz North America has broken ground on a new $500 million rail mill at its steelmaking complex in Pueblo, Colo. The expansion – expected to result in the most modern rail mill in North America – is slated to be completed in 2023, the company said. It will allow Evraz to make 300-foot rail segments that […]
Nucor plans to slash Scope 1 and Scope 2 greenhouse gas emissions at its steel mills by 35% by 2030. North America’s largest steelmaker also aims in the following years to be “net zero” when it comes to carbon emissions. “Our GHG intensity is less than one-third the world average, but we are committed to […]
United Steelworkers (USW) union members have ratified a new four-year labor agreement with Allegheny Technologies Inc. (ATI). The vote in favor of the new pact officially ends a strike that began on March 30, more than three months ago. “As we return to work, we need to maintain our solidarity and enforce our contract,” the […]
Big River Steel plans to take a week-long plant-wide maintenance outage in October at its mill in Osceola, Ark., a company spokeswoman confirmed. The planned outage, for normal preventative maintenance and mill reliability, is scheduled to start on Oct. 10, she said. The scheduled maintenance includes both electric-arc furnaces (EAFs)—with annual production capacity of 3.3 […]
ArcelorMittal Dofasco will be the next Canadian steelmaker to receive government funding to reduce carbon emissions, Canadian Prime Minister Justin Trudeau said. “Very soon we will have good news about another major investment, this time with Arcelor(Mittal) Dofasco,” Trudeau said of the Hamilton, Ontario-based flat-rolled steelmaker, which is part of multination steelmaker ArcelorMittal SA. Trudeau […]
NLMK USA sales surged in the second quarter on strong demand and increased slab supplies from its parent company in Russia. The U.S. subsidiary of Lipetsk, Russia-based NLMK Group recorded flat-rolled steel sales volumes of 502,000 metric tonnes in the first quarter. That’s up 17% from 431,000 tonnes in the first quarter and up 52% […]
One of two United Steelworkers (USW) locals at Algoma Steel is opposed to the Ontario mill’s proposed switch from integrated steelmaking to electric arc furnace (EAF) production. USW Local 2251 President Mike DaPrat went so far as to boycott an event at the mill – attended by Canadian Prime Minister Justin Trudeau – to announce government-funding […]
Steel Dynamics Inc. (SDI) has delayed the start-up of the hot end of its new steel mill in Sinton, Texas, to the fourth quarter, the company’s top executive said. The move was necessary because of severe rain over the last 4-6 weeks, something that was amplified by recent flooding in the region, SDI Chairman, President […]
Steel Dynamics Inc.’s flat-rolled steel mill in Columbus, Miss., is operating as usual after an unplanned outage in June on one of its electric arc furnaces (EAFs). The Columbus facility is “back up and running,” an SDI spokeswoman confirmed to Steel Market Update. The plant went down for a 10-day outage on June 20 after […]
Steel Dynamics Inc. (SDI) aims to be carbon neutral at its electric arc furnace (EAF) steel mills by 2050. The steelmaker has also set interim emissions reductions goals for 2025 and 2030. Namely, it plans to reduce combined Scope 1 and Scope 2 greenhouse gas emissions at its EAF mills by 20% by 2025 and […]
Cleveland-Cliffs has launched a cash-incentive program across all its facilities to encourage employees to get their COVID-19 vaccines. “The program works per site. The company will pay all vaccinated employees a cash bonus based upon the level of vaccination achieved by that site,” a Cliffs spokeswoman said. If 85% of workers at a given mine, mill or […]
Algoma Steel is slated to receive as much as C$420 million ($340 million U.S.) from the Canadian government to help pay for its switch from integrated steelmaking to electric-arc furnace (EAF) production. The amount will be distributed over four years and is aimed at making the Sault Ste. Marie, Ontario-based flat-rolled steelmaker one of the […]
Allegheny Technologies Inc. (ATI) and United Steelworkers (USW) union negotiators have reached a tentative four-year labor agreement, according to both the union and the company. The deal, if ratified by rank-and-file union members, would end a strike that began on March 30 – more than three months ago. The new contract – backdated to March […]
Steel Dynamics Inc. (SDI) is in the process of starting up the coating lines at its new steel mill in Sinton, Texas, a company spokesman confirmed. The paint line at Sinton has been threaded, and painting is expected to begin in approximately two weeks, he said. The mill’s galvanizing line, meanwhile, is slated to start […]
You’ll have to wait until the fourth quarter if you’re looking for flat rolled from California Steel Industries (CSI). The West Coast slab converter announced that it had closed its September order book on Thursday, July 1 – just a week after it opened the month and increased prices by $200 per ton ($10 per […]
ArcelorMittal wants to be carbon neutral by 2050, but reaching that goal will hinge on developing new ways to take fossil fuels – namely, coal and natural gas – out of the steelmaking process, a company executive said. It will also require that key technologies – carbon capture and storage (CCS), biofuels and other renewable […]
William K. Sales Jr., Reliance Steel & Aluminum’s executive vice president of operations, will retire in January 2022. In the meantime, Sales will work as a special advisor to the metals service center – North America’s largest – in a transition effective from Thursday, July 1. “On behalf of the entire Reliance team, I would […]
U.S. Steel is studying the possibilities for deploying carbon capture and storage (CCS) as well as hydrogen-based production as part of its efforts to decarbonize. The Pittsburgh-based steelmaker is doing so via a non-exclusive memorandum of understanding with a U.S. subsidiary of Norwegian energy company Equinor ASA. The effort will be centered in the Mon Valley […]
The dilemma is global warming, CO2 is just the proxy, Cleveland-Cliffs Inc. President and CEO Lourenco Goncalves said during the opening keynote speech at CRU’s Steel Decarbonization Strategies 2021 Virtual Conference. Cliffs’ top executive took a strong stance during his talk—which opened the first major event devoted exclusively to the topic of decarbonization in the […]
SSAB Americas President Chuck Schmitt joined SMU for a Community Chat webinar last week during which we talked plate, renewable energy and fossil-free steelmaking. We also got to some good questions from you about the hydrogen-based steelmaking SSAB is undertaking in Sweden through its HYBRIT partnership with iron ore miner LKAB and power producer Vattenfall. […]
SSAB Americas plans to take a three-week outage at its plate mill in Mobile, Ala., in late November and early December, a company spokeswoman said. No outage is planned at the steelmaker’s plate mill in Montpelier, Iowa, for the balance of the year, she added. SSAB Americas – and subsidiary of Swedish steelmaker SSAB – […]
Cleveland-Cliffs Inc. plans to take a 45-day maintenance outage at the big No. 7 blast furnace at its Indiana Harbor steel works in East Chicago, Ind., a company spokeswoman said. The planned outage, for a partial reline of the furnace, is scheduled to start on Sept. 1, she said. The No. 7 furnace has capacity […]
Worthington Industries, Inc., reported net sales for the fourth quarter of fiscal 2021 totaling $978.3 million, a 60% increase over the comparable quarter in the prior year. The increase was driven by overall volume improvements in both Steel Processing and Pressure Cylinders and higher average direct selling prices in Steel Processing, the company said. “We […]
Steel Dynamics Inc. (SDI) is making repairs after an unplanned outage at an electric-arc furnace (EAF) at its flat-rolled steel mill in Columbus, Miss., according the company’s top executive. The outage, which occurred last weekend, is expected to result in approximately 10 days of lost production, or about 25,000-30,000 tons of hot metal, SDI President […]