US announces new import duties on aluminum extrusions The US Department of Commerce has placed preliminary antidumping (AD) duties of 2-600% on imports of aluminum extrusions from 14 countries. The rates are: “[The findings] show just how widespread dumping practices are globally and highlight the importance of strongly enforcing the antidumping laws to shield US […]
SunCoke's earnings soared in the first quarter, with the company citing strong performances in its cokemaking and logistics segments.
GrafTech is reporting weak near-term demand for graphite electrodes as economic uncertainty constrains steel production globally.
Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.
After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]
The steel market appears to be finding a new, higher normal with the shocks of the pandemic and the Ukraine in the rearview mirror. The good news: a more profitable and consolidated post-Covid US steel industry has been able to invest in operations. That includes efforts to decarbonize. The bad news: That “new normal” could be tested. Because it’s not just domestic sheet prices that have been volatile. Geopolitics are too.
They say all’s fair in love and war. But that doesn’t seem to be the case in steel. Being deemed “unfair” could get you slapped with shiny new Section 232 tariffs these days. Then again, “unfair” implies a judge. And people on opposing sides seldom agree with the judgment. Such seems to be the current case between the US and Mexico.
OnmiSource LLC, a subsidiary of Fort Wayne, Indiana-based steel producer and recycler, Steel Dyanmics, Inc., has acquired Toledo Shredding, LLC, in Ohio.
The US Department of Energy has finalized Congressionally mandated energy-efficiency standards for transformers.
On the eve of the April ferrous scrap buy, there is no firm consensus on the market’s direction. The safe predictions are “soft” sideways to “strong” sideways. That may mean down $10 per gross ton (gt) to up $10/gt.
Reliance Inc. has acquired flat-rolled steel service center MidWest Materials of Perry, Ohio.
There is growing hope that the US scrap market has bottomed, according to industry sources. The steep price declines in March may have ushered in a floor because dealers say their stocks are a bit depleted. Their concern: that the flow of obsoletes could be cut severely with any further drop in prices. Is this wishful thinking, or do the fundamentals support the prediction of a market bottom? Let’s take a look!
The Biden administration this week announced landmark industrial funding to support potentially transformational industrial decarbonization projects. In total, thirty-three projects across eight industrial sectors will receive up to $6 billion in federal funds from the US Department of Energy’s (DOE) Office of Clean Energy Demonstrations (OCED).
GrafTech International has appointed Timothy K. Flanagan as the company’s president and CEO, effective March 26.
The Department of Energy (DOE) announced on Monday six projects that will receive up to $1.5 billion in funding to further decarbonize the iron and steel industry.
Cleveland-Cliffs Inc. has plans to replace the blast furnace at its Middletown Works in Ohio with a direct-reduced iron (DRI) plant and two electric melting furnaces (EMFs).
The LME 3-month aluminum price resumed moving lower on the morning of March 22 and was last seen trading at $2,290 per metric ton. The price was unable to break through an important resistance level at $2,300/mt on March 21. EGA to acquire European recycler Emirates Global Aluminium of the UAE has signed a binding […]
Worthington Steel is taking a pause on M&A activity as it focuses on progressing its electrical steel expansions in Mexico and Canada.
With Earth Day almost a month away, the world’s attention often turns to the manufacturing sector with calls for greener production processes.
Worthington Steel’s profits jumped in its fiscal third quarter of 2024 vs. a year earlier, its first quarter as a standalone company.
US senators have introduced the "Stop Mexico’s Steel Surge Act," which seeks to reimpose 25% Section 232 tariffs on Mexican steel imports.
Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.
India’s JSW Steel has selected steel industry veteran Robert Simon as CEO of JSW Steel USA.
Australia's BlueScope Steel has begun making plans to potentially add cold rolling and coating capabilities in the US.
The International Trade Commission (ITC) voted earlier this month against imposing antidumping and countervailing duties on imports of tin mill products from four countries. When Cliffs filed trade cases on tin mill products in early 2023, the company claimed that the failure to get massive duties on imports would result in the closure of its mill in Weirton, W.Va. We don’t know the reasoning behind this decision, only that all four sitting Commissioners voted not to impose duties. We do know that Cliffs plans to close Weirton.
Weak demand and pricing for graphite electrodes combined with higher costs are forcing GrafTech to implement cost-cutting procedures and reduce production across its facilities.
Last week, steel consumers prevailed in a rare victory over US petitioners in trade cases on tin mill steel products. The US International Trade Commission (ITC) voted 4—0 that Cleveland-Cliffs, the sole remaining domestic producer of tin mill products (used to make containers such as “tin cans”) was neither injured nor threatened with injury by imports of competing products from Canada, China, and Germany. Imports from South Korea were found to be “negligible,” and the investigation on Korean imports was terminated.
The US Midwest premium was flat week over week (w/w) at 18.8–19.4¢/lb. Again, the premium has exhibited remarkably low levels of volatility and has yet to react to news in the geopolitical or macroeconomic spaces.
SunCoke Energy Inc.’s earnings improved in the fourth quarter, driven by higher coal-to-coke yields, the company said in its Q4, and full-year results on Feb. 1.
Cleveland Cliffs executives didn’t mince words when opening its Q4’23 earnings call.