California Steel Industries (CSI) has opened its flat rolled order book for September. The West Coast slab converter also has increased prices by approximately $200 per ton ($10/cwt), according to market participants. “The purpose of this letter is to inform you that CSI’s September flat rolled order book is now open,” the company said in […]
Alro Steel Vice Chairman Barry Glick died Monday, June 21, in Boca Raton, Fla., at age 70. Barry’s uncle Al Glick and father Robert Glick founded Alro Steel in 1948 in Jackson, Mich. Barry began his career with Alro in 1977 and served as vice chairman for 27 years. “It is with a heavy heart […]
SSAB Americas aims to increase plate prices by another $50 per ton ($2.50 per cwt) – just days after lifting tags by $100 per ton. The latest increase is effective immediately on all non-contract orders, and it means SSAB’s prices are up $150 per ton within a span of only three days. The latest increase […]
SSAB and its green steel partners LKAB and Vattenfall claim to have made a major breakthrough in environmentally friendly steelmaking. The HYBRIT team said it has produced the world’s first hydrogen-reduced sponge iron, a major step toward fossil-free steel. The HYBRIT pilot plant in Sweden – a joint project undertaken by steelmaker SSAB, iron ore […]
The Ashland Works steel mill is coming down after operating for the better part of 100 years on the Ohio River. Cleveland-Cliffs Inc. confirms that it will demolish the idled Kentucky mill that it acquired from AK Steel in 2019. Although there were initial discussions about restarting the mill to produce pig iron, ultimately the […]
Triple-S Steel Holdings, Inc., Houston, has acquired Los Angeles-based Rolled Steel Products and E&E Steel. The two companies, founded in 1956 and under the ownership of the Alperson family since 1973, supply precision strip and flat-rolled products to a range of customers in Southern California. Terms of the deal were not disclosed. “We are very excited to continue […]
USS-POSCO Industries has officially changed its name to USS-UPI, LLC. The West Coast subsidiary of Pittsburgh-based U.S. Steel said the change means its email domain is switching from ussposco.com to ussupi.com. “This transition period will occur over the next few months,” the company said in a letter to customers on Friday, June 18. USS-UPI also […]
Algoma Steel recouped its losses from Q3 FY 2021 to report net income of $91.5 million ($114 million CAD) for the fourth quarter of its fiscal year. Third quarter’s loss totaled $59 million ($73.5 million CAD); net income of $15.2 million ($19 million CAD) was reported in Q4 2020. In a report issued June 17, […]
Evraz North America aims to resume steelmaking operations at its mill in Pueblo, Colo., the week of June 21, a company spokesman said. Rolling operations are likely to restart shortly thereafter, he said. An explosion at the Pueblo steel mill in late May disrupted production and resulted in eight people being injured, three critically. Seven […]
Commercial Metals Company posted record earnings of $130 million on net sales of $1.8 billion in the third quarter of FY 2021. Results were the best the company has achieved in its 106-year history. “CMC achieved exceptional results during the third quarter,” said Chairman, President and CEO Barbara Smith. “Demand for our products was robust […]
It is a good time to be a steel producer. Both Steel Dynamics and Nucor are expecting record earnings for the second quarter of 2021 supported by strong demand and unprecedented steel prices. And U.S. Steel expects second quarter adjusted EBITDA more than double that in the first. SDI expects earnings to be in the range […]
Cleveland-Cliffs increased its second-quarter and full-year 2021 guidance in an announcement on Tuesday. Second-quarter adjusted EBITDA is projected at $1.3 billion and full-year 2021 at $5 billion. The increase is based on current contracts and assumes that the U.S. HRC price index will average $1,176 per net ton for the remainder of the year. The […]
SMU caught up with Ternium CEO Máximo Vedoya about the Latin American steelmaker’s plans for its new, $1.1-billion hot strip mill in in Pesquería, just outside of Monterrey, Mexico. The new mill – also known as #4 Pesqueria – sports capacity of 4.4 million tons per year. It rolled its first coils in May and Vedoya […]
The Tenaris melt shop in Koppel, Pa., is fired up and underway after a $15-million, year-long upgrade. It will soon supply steel bars for the company’s seamless pipe mills in the U.S. and Canada. The facility is Tenaris’ first U.S. melt shop and was part of the 2020 acquisition of TMK IPSCO. The upgrade expanded […]
Worthington Industries has acquired certain assets of Shiloh Industries’ U.S BlankLight® business for $105 million. The deal expands Worthington’s capacity and capability with the addition of three facilities, located in Ohio and Michigan, to the company’s laser-welded products joint venture, TWB Company LLC. A fourth facility in Kentucky will operate under Worthington’s Steel Processing business, expanding […]
U.S. Steel wants to make Big River Steel the leader in non-grain-oriented electrical steels (NGOES). To that end, the Pittsburgh-based integrated steelmaker will invest $450 million at Big River’s steel mill in Osceola, Ark., to target the growing demand from the electric vehicle market. Funded entirely from cash generated at Big River, the NGOES expansion […]
United Steelworkers at ArcelorMittal Mines and Infrastructure Canada have ended their strike and ratified a new four-year labor contract with the company. “We are happy to turn the page on this conflict. The past few weeks have been a time to pause and start anew. We look forward to welcoming back our employees, and I […]
Steelmaker Cleveland-Cliffs marked sixth months of continued operation and production of hot-briquetted iron (HBI) at its direct reduction plant in Toledo, Ohio, with a ribbon-cutting celebration. In attendance for the June 9 on-site event hosted by Cliffs’ Chairman, President and CEO Lourenco Goncalves were Ohio Governor Mike DeWine, Rep. Marcy Kaptur (D, Ohio), and Toledo […]
ArcelorMittal completed its first XCarb™ innovation fund investment, investing $10 million in renewable energy technology company Heliogen to “unlock the power of sunlight to replace fossil fuels.” Heliogen’s technology harnesses solar energy by using a multi-acre field of mirrors as a magnifying glass to concentrate and capture sunlight. The sunlight can then be converted into […]
JSW Steel (USA) and JSW Ohio are accusing Nucor, U.S. Steel and Cleveland Cliffs of conspiring to boycott and deny critical semi-finished steel slab to the company. A lawsuit filed on June 8 alleges that the three steel giants have formed a cartel that has cost JSW millions of dollars in lost profit. According to […]
Nucor will purchase Cornerstone Building Brand’s insulated metal panels (IMP) business for a cash price of $1 billion dollars. The purchase is expected to close later this year, pending regulatory approval. The transaction includes seven manufacturing facilities located throughout North America that will complement Nucor Buildings Group and the company’s existing IMP business, TrueCore, the […]
U.S. Steel has agreed to sell its Transtar LLC railroad subsidiary to an affiliate of Fortress Transportation and Infrastructure Investors LLC (FTAI) for $640 million. The Pittsburgh-based steelmaker said it expects the deal to close in the third quarter of this year pending customary closing conditions and certain regulatory approvals. Money from the sale will […]
ArcelorMittal Mines and Infrastructure Canada have reached tentative agreement with the United Steelworkers on a new labor contract following government-mediated negotiations. If ratified, the four-year collective labor agreement will cover 2,500 members in five union locals working at ArcelorMittal mining operations in northern Quebec. Workers launched a strike on May 10 after voting to reject a […]
Canadian steel producer Stelco is getting into the electric vehicle battery recycling business. The company announced it will enter into a joint venture with Primobious to build a facility in North America that will recover and recycle materials from EV batteries. Primobious is a 50-50 joint venture of Neometals Ltd and SMS Group, formed to […]
ArcelorMittal Mexico plans to start up its new hot strip mill in Lázaro Cárdenas in Mexico’s Michoacán state in the fourth quarter of this year, a company spokeswoman said. The hot strip mill cost $1 billion and is expected to have annual capacity of 2.75 million tons per year (tpy), according to an ArcelorMittal press […]
Norfolk Iron & Metal Co., a full-line steel service center headquartered in Norfolk, Neb., announced the creation of NIM Group which will be the parent identity for its brands: Norfolk Iron and Metal, Metalwest and Cd’A Metals In December 2018, Norfolk Iron acquired Metalwest, a processor and distributor of carbon and nonferrous flat-rolled metal products […]
Schnitzer Steel said it expects ferrous volumes to be better than expected in its fiscal third quarter which ends this month. The company previously reported guidance of 977,000 long tons for Q3. According to an SEC filing on June 1, a 25% increase over that amount is now anticipated. Finished steel sales volumes for the […]
An explosion over the weekend at Evraz North America’s steel mill in Pueblo, Colo., injured eight people, three of them critically, a union official told Steel Market Update. The resulting damage will disrupt production at the mill given that its electric arc furnace (EAF) feeds three downstream operations, some of which do not have an […]
Cleveland-Cliffs is ramping up the No. 5 blast furnace at its steel mill in Cleveland, Ohio, after a minor incident earlier in the week, according to market participants. A blowout on a tuyere resulted in limited damage, including melted wiring, and led to the furnace being down for several days, a source familiar with the […]
The U.S. steel industry stands to benefit in a big way should the government put a price on carbon emissions, according to a study by CRU, Steel Market Update’s parent company. CRU examined the potential impact of a standard fee on carbon emissions and an equivalent border carbon adjustment (BCA) and found that such policies could […]