Tag: processing

Majestic Steel announced the completion of its flagship Majestic Steel Arkansas facility in Blytheville on the campus of Nucor Steel Hickman.

United Steel Supply plans to invest up to $10 million to open a steel processing and painting facility at the Ports of Indiana-Jeffersonville near Louisville, Ky.

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 […]

As we approach “buy week,” a term industry veterans use to refer to steel mill scrap buying time and an excuse to remain in the office, we have seen a variety of slants on the May market.

Russel Metals’ earnings fell in the first quarter, but the Toronto-based metals distributor sees steel prices stabilizing in the near term and staying above historical averages.

Reliance Inc.’s earnings slumped in the first quarter of 2024, but the company expects better than normal seasonal recovery in demand in the second quarter.

Steel Dynamics Inc. (SDI) executives said the company's Sinton, Texas, sheet mill should be able to increase melt capacity after an outage earlier this month. Sinton should see "additional improvements in production" after taking "several maintenance days in April," Barry Schneider, SDI president and COO, said in a Q1 earnings conference call on Wednesday.

Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.

Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.

Here’s a roundup of the latest news in the global aluminum market from our colleagues at CRU. Biden calls for tripling of Chinese steel and aluminum tariffs President Joe Biden is calling on the US Trade Representative (USTR) to consider increasing the existing section 301 import duty on Chinese steel and aluminum three-fold. The current […]

OnmiSource LLC, a subsidiary of Fort Wayne, Indiana-based steel producer and recycler, Steel Dyanmics, Inc., has acquired Toledo Shredding, LLC, in Ohio.

Reliance Inc. has acquired flat-rolled steel service center MidWest Materials of Perry, Ohio.

Cleveland-Cliffs’ Lourenco Goncalves said the company is still interested in acquiring U.S. Steel, though no bid is currently on the table, according to a local report.

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 […]

With Earth Day almost a month away, the world’s attention often turns to the manufacturing sector with calls for greener production processes.

Nucor said on Thursday afternoon it expects higher profits in the first quarter vs. the previous quarter but lower than a year earlier.

Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.

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.

Friedman Industries posted lower earnings in its fiscal third quarter but was upbeat on the next quarter due to the effect of increased hot-rolled coil prices.

Reliance has entered into an agreement to purchase Houston-based American Alloy Steel Inc. for an undisclosed sum.

The US Midwest premium continued to trade between 18.8–19.4 cents per pound (¢/lb) this week. There remains a host of macroeconomic and geopolitical risks in the current environment, but none have affected the short-term outlook for the premium. Current trading for April reached 20 ¢/lb which is on par with CRU’s current forecast for Q2’24. Dates closer to the end of the year have fallen to 21.2 ¢/lb.

SBQ producer Alton Steel Inc. (ASI) has appointed a new chief executive.

Norfolk Iron & Metal is installing a new Butech Bliss temper mill cut-to-length line at its Port of Catoosa processing facility near Tulsa, Okla.

Nucor Corp. reported a decline in profits during the fourth quarter due to lower pricing and volumes.

The American steel market, including the stainless steel market, continues to face serious threats from subsidized and dumped imports resulting from foreign government policies creating an unfair playing field. It is no secret that China is a major culprit.

The 35th Annual Tampa Steel Conference starts in just a few days. As one of the premier domestic steel conferences, it’s the perfect way to kick off 2024. It’s not too late to register if you haven’t already done so, but make sure to book now!

India-based Tata Steel is to close down the two blast furnaces at its loss-making Port Talbot works in South Wales, UK, during a four-year switch to EAF-based steel making. Under the proposals, 2,800 jobs are at risk.

The capacity for EAF steelmaking is growing both in the US and abroad. Ferrous scrap supply has never been more important. A lot of people have viewed the scrap industry as old-fashioned and resistant to change. However, the same forces affecting the steel and other industries are also at play in recycling.

We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!

When I started in the scrap business many years ago as a rookie trader in Luria’s Cleveland office, I saw an industry composed of family-owned businesses stretching across a great industrial nation.