United Steelworkers at Algoma Steel have ratified a tentative agreement with Algoma’s secured creditors. Members of USW Local 2251 and salaried workers in USW Local 2724 voted to accept the agreement that includes no concessions and some gains, said union leaders. Algoma, formerly Essar Steel Algoma, has been in Companies’ Creditors Arrangement Act proceedings since […]
ArcelorMittal’s acquisition of Italian steel plant Ilva has been delayed until Sept. 15 as government officials continue to review terms of the deal. ArcelorMittal has agreed to buy and fix the pollution plagued mill from the Italian government for €1.8 billion ($2.1 billion). The company said it will invest €2.3 billion ($2.7 billion) to fix […]
Metals distributor and processor Ryerson Holdings is expecting stronger revenue in the second quarter due to an increase in tons sold and higher average selling prices. Year-over-year volume growth was evident in nearly all end markets, notably in commercial ground transportation, consumer durable equipment and industrial equipment, the company said. Pricing is continuing to improve […]
(Updated 6/27/2018) Steel Dynamics, Inc. has announced plans to expand its offering of value-added flat roll steel products through the addition of a new galvanizing line in Columbus, Miss. The company plans to invest $140 million, adding a third galvanizing line at its Columbus Flat Roll Division. The new galvanizing line will have an annual coating capability of […]
U.S. Steel has promoted Daniel M. Killeen to the position of General Manager Gary Works effective immediately. Killeen will be responsible for the day-to-day operations of U.S. Steel’s largest integrated steelmaking facility. Killeen joined U.S. Steel in 1996 as a Management Associate at Gary Works. He went on to work in a series of increasingly […]
JSW Steel plans to pump $500 million into its newly acquired Acero Junction steel mill in a two-phase investment. The first $250 million includes the cost of acquisition, the revamp and restart of the electric arc furnace and slab caster, and modernization of the hot strip mill. The second phase will be dependent “upon the […]
ArcelorMittal claims a new approach to construction that will create a more sustainable life-cycle for buildings. The company has launched Steligence®, a concept that looks at buildings as holistic entities where all aspects of the design are considered in an integrated way, as part of the whole. The concept requires improved dialogue between architects and […]
Commercial Metals Company net sales jumped 15 percent to $1.2 billion for earnings of $42.3 million for the third quarter of fiscal year 2018, ending May 31. Earnings and sales increased from the second quarter due to strong demand across all of CMC segments. “The CMC team delivered outstanding results in our third fiscal quarter,” […]
India’s JSW Steel announced last week it has completed the acquisition of 83 percent of Acero Junction Holdings. The remaining 17 percent is being transferred and will give JSW 100 percent ownership of the steel rolling mill in Mingo Junction, Ohio. The assets are valued at $182.41 million with an equity value of $80.84 million […]
Steel Dynamics is expecting second-quarter profitability to be “meaningfully” higher than the first quarter due to increased steel shipments and metal spread expansion. Steel pricing is outpacing scrap costs in Q2. Profitability has improved across all of SDI’s steel platform, but especially in sheet operations. The metals recycling division is expected to be level with […]
Nucor expects earnings for its second quarter to increase significantly compared to first-quarter 2018 due to higher average selling prices and increased profitability. Deregulation, tax reform and higher, stable oil prices have contributed to stronger market conditions, said Nucor in the company’s earnings guidance statement. Profitability increased across all of Nucor’s steel mill product groups […]
Jean Carroll Kemp may have been the speaker at the Association of Steel Distributors meeting in Chicago last Thursday, but it was ASD members who really delivered the message. The event was co-hosted by the Chicago Chapter of Association of Women in the Metals Industry (AWMI). Kemp is the Senior VP of Government Affairs and […]
NLMK USA has requested tariff exclusion on the import of slabs under Section 232, but has received blowback from several U.S. steel mills. Nucor, U.S. Steel and AK Steel have filed objections to the request, arguing that there is sufficient slab supply in the United States to supply NLMK yet the company continues to buy […]
Two venerable Chicago-based metals distributors are joining forces, marking the latest big merger in the consolidating service center sector. Ryerson Holding Corp. has agreed to acquire Central Steel & Wire Co. in a transaction valued at $140 million. Acquisition of Central Steel and Wire will solidify Ryerson’s position as the second largest service center organization […]
United States Steel Corp. announced Tuesday that it will restart the second of two blast furnaces at its Granite City Works, an integrated steelmaking plant in Granite City, Ill. The restart of the “A” blast furnace will support increased demand for steel manufactured in the United States, while allowing the company to continue to support […]
Canada’s Samuel, Son & Co., a leading metals distributor and industrial products manufacturer, has invested $18 million in its Brantford, Ontario, automotive metals processing center. It expects to complete the expansion by the fourth quarter, ramping to full production in early 2019. Samuel’s Brantford facility is currently a 141,000-square-foot metals processing operation equipped with blanking […]
Metalforming companies in the U.S. and Canada are expecting business conditions to decline slightly in the next three months as tariffs take hold and steel prices and lead times increase. The latest Precision Metalforming Association Business Conditions report sampled 112 metalforming companies and found that 31 percent of participants forecast an improvement in economic activity […]
ArcelorMittal announced the retirement of Robrecht Himpe, executive officer and executive vice president. A 37-year veteran of ArcelorMittal, Himpe will retire from his duties as a member of ArcelorMittal’s executive management committee and as CEO, ArcelorMittal North America and CEO, AM/NS Calvert on July 1, 2018. Himpe joined the group’s Gent operations in 1981. After […]
Worldwide demand for graphite is forecast to grow at a strong annual rate of 5-7 percent through 2027. U.S. minimills rely on graphite for the electrodes used in electric arc furnaces to melt steel scrap. As China transitions to the more environmentally friendly EAF steelmaking process, and the proliferation of electric vehicles calls for more […]
AK Steel’s Middletown Works suffered a fire on one of the facility’s temper mills on Saturday, May 19. The blaze was extinguished without injury to any employees. A spokesperson for AK Steel said the cause of the fire is under investigation and repairs are under way. In the meantime, AK Steel will utilize its other […]
Nippon Steel & Sumitomo Metal Corporation (NSSMC) announced on Wednesday that it will change its name to Nippon Steel Corporation effective April 1, 2019. “NSSMC has determined to adopt a new and more inclusive trade name befitting a steelmaker with origins in Japan and an emphasis on continuing growth in global markets looking toward the […]
Have you ever experienced the dizzying sensation of vertigo? Perhaps you were on a Steel Market Update workshop tour and felt woozy as you ascended higher and higher on the catwalks during the mill tour. ArcelorMittal South Africa recognized the danger that a fear of heights could cause employees who work in extreme conditions and […]
The hot strip mill at NLMK’s Farrell, Pa., facility will be down for the next seven to 10 days. SMU spoke with James Banker, Jr., who said that a component failure in a motor is taking the mill down for unplanned maintenance. The number of tons of production that will be lost is not significant. […]
Mark Bula, chief commercial officer at Big River Steel, is leaving the Osceola, Ark., steelmaker to pursue new entrepreneurial opportunities, according to a statement from the company. Keith Shuttlesworth, currently Big River Steel’s general manager of the Carbon Sales Group, will become the company’s new chief commercial officer. Shuttlesworth joined Big River Steel after an […]
For the many friends and admirers who believed Don Simon would be in the steel business forever, the day has finally come. Simon has sold the family business to Union Partners. “I am extremely grateful to have been able to serve the steel industry for as long as I have,” stated the 87-year-old Simon, who […]
Calstrip Industries announced plans to build a $15 million steel processing plant on the Nucor campus near Blytheville, Ark. The 100,000-square-foot first phase of the facility will be adjacent to Nucor Arkansas’ new specialty cold rolled mill, currently under construction. Calstrip will operate slitting and multi-blank cut-to-length lines at the Arkansas location and will create […]
Michael Barnett has been appointed president and chief operating officer of Grand Steel Products, Inc., Wixom, Mich., transitioning the company leadership from his father Jim Barnett. “It is with great pleasure, excitement and confidence that I announce Michael Barnett has been appointed president and COO of Grand Steel Products, Inc.,” stated company founder Jim Barnett. […]
The U.S. steel industry continues to find new ways to help automakers lighten vehicles for better fuel efficiency. One of the latest developments is by ArcelorMittal in partnership with Honda. Engineers from the two companies designed the industry’s first hot-stamped, laser-welded inner and outer door ring using ultra-high-strength steel. The system replaces conventional multi-piece, spot […]
Steel Dynamics has announced it will acquire CSN Heartland from CSN Steel, a wholly-owned subsidiary of Companhia Siderurgica Nacional, for $400 million, subject to regulatory approval. SDI expects to close the transaction by the end of third-quarter 2018. Heartland, located in Terre Haute, Ind., produces hot rolled pickled and oiled steel, cold rolled and galvanized […]
In a strategic purchase that expands its production capabilities in the Southwest, SteelCo USA has acquired certain assets of the former Douglas Steel Supply, based in Vernon, Calif. The assets acquired in the agreement include multiple large-scale production lines, material handling equipment, vehicles, tooling and inventory. “The addition of this equipment to SteelCo USA’s existing […]