Canadian steel producer Stelco will return Alan Kestenbaum to the position of chief executive officer, effective Feb. 21. Current CEO David Cheney will step down and return to his previous role at Bedrock Industries. Kestenbaum served as Stelco’s CEO from the closing of the company’s initial public offering in November 2017 until February 2019 and […]
A fire at the AK Steel Mansfield facility reportedly caused serious burns to a female employee who was working near the ladle in the melt shop. Mansfield Fire Department received a call at 5:12 pm regarding an explosion and fire at the plant. By the time firefighters arrived the fire was under control by AK […]
JSW Steel USA reported dismal results for the third quarter of 2020, but the company expects losses will be reduced substantially in the fourth quarter. JSW Steel – Baytown produced 70,479 metric tons of plate and 14,669 MT of pipes during the third quarter of 2020, reported JSW Steel India. The plate mill operated at […]
Michelle Pearson-Casey has returned to Olympic Steel as Vice-President-Corporate Communications & Marketing after a five-year hiatus. Pearson-Casey joined Olympic Steel in 1999 and left her role as Director-Human Resources in 2015 to pursue opportunities in consumer packaged goods and as a communications and change management consultant supporting global organizations. She brings nearly 20 years of […]
Steel Dynamics reported record steel shipments of 10.8 million tons and net sales of $10.5 billion in 2019 for the company’s second-best sales performance. Steel fabrication also set a yearly record with shipments of 644,000 tons, and almost doubled its operating income from 2018. Sales declined 11 percent to $11.5 billion from the record high […]
NLMK USA sold 472,000 metric tons of steel in the fourth quarter of 2019, a decline of 14 percent from the previous quarter and 6 percent from a year ago. The decrease was attributed to a seasonal slowdown in steel buying activity. Sales for the full year of 2019 declined 3.0 percent to 2.2 million […]
Acknowledging that “it’s a lot easier to sell steel when the price is going up,” distributors of steel products to the HVAC sector reported strong sales in the first month of the new year despite galvanized base prices that have risen by about $130 in the past 12 weeks to the current $800 per ton. […]
Chinese mills cranked out a record 996.3 million tons of steel last year—just short of a billion tons—an 8.3 percent increase from 2018, according to Chinese government data. Higher steel consumption reportedly was driven by increased property construction and government spending on infrastructure. Crude steel production in December totaled 84.3 million tons, an 11.6 percent […]
Olympic Steel has promoted Francis M. (Frank) Ruane to the role of Executive Vice President – Supply Chain. “Frank’s expertise in supply chain, distribution, inventory management and routes to market have played an important role in Olympic Steel’s commercial planning and business strategy,” said President and COO Andrew Greiff. “His careful assessment of the current […]
Cleveland-Cliffs has begun exchanging senior notes issued by AK Steel for notes issued by Cliffs in preparation for the acquisition of the Ohio-based steel company. “For each $1,000 principal amount of Existing AK Steel Notes validly tendered on Feb. 12, 2020 (the ‘Expiration Date’) and not validly withdrawn, Eligible Holders of Existing AK Steel Notes […]
Allegheny Technologies’ Midland plant may be on the chopping block if the Trump administration doesn’t approve an exclusion from Section 232 tariffs. ATI CEO Robert Wetherbee, in an op-ed for the Wall Street Journal, demonstrated how difficult it can be to support Trump trade policies and one’s own business interests. Wetherbee believes the tariffs were […]
Flack Global Metals has hired metals industry veteran Ben Markham as chief commercial officer. Markham brings 30 years of senior management experience to FGM and will play a key role in the leadership, design and execution of the company’s commercial development activities and corporate branding. Markham, a veteran of the U.S. Air Force, has extensive […]
Worthington Industries has acquired majority ownership of Samuel Steel Pickling Co., which it has held in a joint venture with Samuel, Son & Co. since 2010. Worthington will hold a 63 percent share of the venture and Samuel 37 percent. Worthington’s recently acquired Heidtman Cleveland facility and Samuel Steel Pickling will be combined, forming Worthington […]
Commercial Metals Company is looking forward to a steady construction market in 2020 for its merchant bar and rebar products. “We are positioned to continue benefiting from the positive trends in our core markets and remain optimistic about the construction market, as many of the macro indicators we monitor point to resilience ahead,” said President […]
A.M. Castle & Co., a global distributor of specialty metal and supply chain services, announced that President Marec Edgar has been named chief executive officer following the retirement of Steve Scheinkman as chairman and CEO. Scheinkman will remain on Castle’s board of directors serving as a senior advisor. Mike Sheehan, currently a director, will assume […]
Tenaris S.A. has completed its acquisition of IPSCO Tubulars from Russian steel manufacturer PAO TMK. The $1.1 billion transaction includes a six-year distribution agreement that, as of Jan. 2, makes Tenaris the exclusive distributor of TMK’s OCTG and line pipe products in the U.S. and Canada. Tenaris’ facilities are primarily located in the South and […]
Climate change is moving up the political agenda in countries around the world, putting increasing pressure on industries such as steel to reduce greenhouse gases. Globally, the steel industry is responsible for around 5 percent of total CO2 emissions. Steelmakers are responding with plans for mills that run on solar or wind energy and are […]
William (Bill) Zielinski, chief operating officer for Chicago Tube and Iron, will succeed Dr. Donald McNeeley as president of CTI. As president, Zielinski will lead the business strategy and day-to-day operations of CTI in addition to his current duties as COO. McNeeley will continue with the company as chairman of CTI. The planned succession was […]
An explosion caused by a water and molten iron reaction at ArcelorMittal Indiana Harbor on Dec. 27 resulted in fire and damage to the #4 furnace. A spokesperson for ArcelorMittal said the company is assessing the damage to determine a timeline for repairs and the duration of the outage at IH 4 SP. ArcelorMittal will […]
Liberty Steel Group has been named the preferred buyer for structural steel and merchant bar producer Bayou Steel Group. Liberty Steel, part of the GFG Alliance, will acquire the company for $28 million and plans to restart idled operations at the steel mill in LaPlace, La., by 2021. Liberty expects to have the recycling operations […]
Olympic Steel has promoted Andrew Greiff to president, succeeding David Wolfort who has served as president for the past 18 years. Greiff will take on responsibilities as president while continuing as chief operating officer. As president and COO, he will be responsible for strategic leadership of Olympic Steel’s commercial efforts, including the management of sales, […]
U.S. Steel anticipates an EBITDA loss of $25 million in the fourth quarter of 2019, which excludes about $225 million in estimated restructuring and other charges. Fourth-quarter results were negatively impacted by lower steel selling prices in the third quarter and in October, which impacted about 60 percent of shipments, said U.S. Steel in its […]
U.S. Steel announced today that it intends to “indefinitely idle” a significant portion of its Great Lakes Works operation near Detroit. The decision was made to better align the company with its three core flat rolled operations and advance its “best of both strategy” as an integrated and EAF company. U.S. Steel expects to begin idling […]
Nucor Steel says it will add a new coil paint line at its Mississippi County sheet mill in Arkansas. The new coil paint line will have a capacity of 250,000 tons per year and is expected to start up in the first half of 2022. “The new coil paint line will diversify our product and […]
Chicago-based UPG Enterprises LLC has acquired Metalex LLC and its Morton Rail Products division, formerly known as Morton Manufacturing Co. Metalex is a manufacturer of perforated products, expanded metal, safety grating, perforated tubes and architectural metals. UPG said this acquisition significantly enhances its portfolio, not only with a suite of new products and capabilities, but […]
Stelco Holdings announced that Chief Financial Officer Don Newman will resign effective Jan. 5, 2020. Roy Collins, Vice-President, Internal Audit, will assume the role of interim CFO. Newman has accepted a position as Senior Vice President, Finance, and Chief Financial Officer at Allegheny Technologies, Inc., effective Jan. 6. Newman will succeed Pat DeCourcy who will […]
SSAB Americas plans to be the first supplier of fossil-free steel in North America. The company has targeted 2026 for its operations in Montpelier, Iowa, to be powered completely by renewable energy. The Montpelier facility is powered primarily by wind farms operated by MidAmerican Energy. The steel produced at the Iowa mill is used to […]
Worthington Industries reported net sales of $827.6 million and net earnings of $52.1 million for its second 2020 fiscal quarter ending Nov. 30, 2019. Earnings included a pre-tax gain of $23 million related to sale of the WAVE joint venture. “We delivered solid results for the quarter despite some market softness and challenging conditions in […]
Steel Dynamics is expecting lower earnings in the fourth quarter due to planned outages, lower shipments and refinancing costs. Earnings are expected to be in the range of $0.49 to $0.53 per diluted share compared to $0.69 per share in the third quarter and $1.17 per diluted share in Q4 2018. Annual maintenance outages at […]
Reliance Steel & Aluminum Co. plans to acquire Fry Steel Co., a general line and long bar distributor in Santa Fe Springs, Calif. Fry Steel performs cutting services on its diverse product assortment of over 8,000 types and conditions of long bar product including stainless, alloy, aluminum, carbon, brass and bronze. The acquisition will complement […]