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 […]
By CRU Principal Analyst Josh Spoores, from the CRU Steel Monitor President Trump sent three tweets this morning that said, effective immediately, he would restore the steel and aluminum tariffs on Brazil and Argentina because the countries “have been presiding over a massive devaluation of their currencies, which is not good for our farmers.” No […]
Ferrous scrap prices settled up $30-40/GT in December for most regions and most grades, on top of the $15-20/GT increase in November, lending further support to rising finished steel prices. Not only did prices find support from seasonally tighter scrap supply, but mill demand was stable or higher month over month for most regions, said […]
Stelco’s strategy to get into the merchant pig iron (MPI) market is getting high marks from the experts. As one of the Canadian steelmaker’s strategic growth initiatives, it plans to construct a new pig iron making facility at its Lake Erie Works to coincide with a blast furnace reline scheduled for Q2 2020. Stelco claims […]
A strike by 3,200 Teamster union employees at Canadian National Railway is causing disruption in both Canada and the U.S. Now in its sixth day, with no end in sight, a shortage of propane is imminent for Ontario and Quebec as well as delays to shipping across the manufacturing industry. CN transports more than CAD […]
The domestic steel mills were busy on Friday with SSAB USA announcing a $40 per ton price increase on steel plate, and then U.S. Steel coming out with a $30 per ton price increase on flat rolled. The SSAB increase was the second on plate this month. Flat rolled has seen three price increase announcements […]
Canadian integrated steelmaker Stelco managed to improve on its revenues and operating income from the second to the third quarter, but still reported an $11 million loss in Q3 adjusted net income. The company plans to expand its product mix by adding pig iron production and shipments in 2020. Third-quarter revenue of CAD $475 million […]
The Canadian Steel Producers Association has appointed Algoma Steel CEO Michael McQuade as Chairman of the Board of Directors. McQuade was appointed CEO of Algoma in March 2019. Prior to assuming the leadership role at Algoma, McQuade accumulated more than 35 years of experience at Stelco Inc. He moved through a variety of roles at […]
By CRU Senior Analyst Erik Hedborg Part two of our three-part series: What’s next for U.S. iron ore production? After a remarkably profitable 2018, the U.S. steel industry has suffered a setback in 2019 as steel prices have dropped sharply on weaker than expected demand. Steel margins have turned negative and production cuts have been […]
Canadian steel producer Stelco Holdings pulled off a profit for the second quarter despite significant headwinds. Second-quarter revenue decreased 39 percent from a year ago, shipping volume was down 27 percent and the average selling price per ton fell 15 percent to $761, the company reported during its earnings call on Wednesday. (All figures are […]
Electric arc furnace minimills may have a cost advantage in steel production today, but there are still 19 traditional blast furnaces going strong in the United States. Blast furnaces dominate about three-fourths of global steelmaking, but only three steel producers in the U.S. currently are using BF or basic oxygen furnace technology: U.S. Steel, ArcelorMittal […]
Nearly 1,000 executives are registered with just two weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our 9th […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
NLMK USA is blaming Trump’s tariffs for layoffs at its Pennsylvania steel mill. Last week, 80 to 100 workers were laid off at the hot mill at NLMK’s Farrell steel plant. NLMK USA CEO and President Robert Miller called the tariffs a “failed policy.” “This is what I predicted a year ago,’’ Miller told the […]
Canada’s Samuel, Son & Co., Limited, has named Colin Osborne to replace the retiring Bill Chisholm as the company’s president and chief executive officer, effective Aug. 1. Osborne has been transitioning to the leadership role since late 2018 as Samuel’s president and chief operating officer. Chisholm has served as CEO since 2013. “On behalf of […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Canada’s Stelco, Hamilton, Ontario, has begun shipping fully processed, annealed cold-rolled sheet after investing more than $30 million in a new batch annealing facility. With completion of this project, Stelco will now be able to offer these high-quality products to the automotive, appliance, service center and pre-painted steel markets. These products have historically commanded higher […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
The U.S. has agreed to lift steel and aluminum tariffs on Mexico and Canada, removing a major roadblock to the ratification of the new North American trade agreement. The Section 232 tariffs, imposing a 25 percent tax on steel imports and 10 percent on aluminum, have been in place just over one year. The tariffs […]
We stuck in a couple of Premium level articles in tonight’s issue to give our Executive members an opportunity to review the level of detail we put into Premium products. With our new pricing we have exceptional membership levels on both Premium and Executive products, especially for those of you who would like to share […]
Registrations continue to grow for the 2019 SMU Steel Summit Conference, which will be held on August 26-28, 2019. In the past 24 hours we added the following companies (those with an * means more than one person will be attending): North Star BlueScope Coated Products North America, Stelco*, Walker Magnetics, Leggett & Platt, Hannibal […]
Stelco, one of the most technologically advanced integrated steelmaking facilities in North America, will take another step forward in the technology realm. Stelco has signed an agreement with Canvass Analytics to use the Canvass AI software to transform operational data into “actionable intelligence.” “By partnering with Canvass Analytics, we are systematically transforming our facilities into […]
Algoma Steel announced today the appointment of Michael McQuade as Chief Executive Officer. McQuade will succeed Kaylan Ghosh who served as CEO prior to and during the restructuring of Algoma. “Mike has the skills and experience to lead Algoma in the next stage of its evolution as a leading Canadian steel company and globally competitive […]
Canadian steel company Stelco announced a new CEO and defied U.S. tariffs with a strong earnings report for the fourth quarter. David Cheney, formerly chief business development officer, will assume the mantle of CEO from Alan Kestenbaum who will continue to serve as Executive Chairman. Cheney will have executive responsibility for the company’s day-to-day business, […]
The United Steelworkers and Bedrock Industries announced they will begin negotiations for a new collective agreement for workers at the Pointe-Noire iron pellet plant in Quebec. Bedrock Industries notified the USW of its intention to purchase and restart the facility. The pellet plant, formerly owned by Cliffs Natural Resources, closed in 2013 and is currently […]
With no end in sight for U.S.-imposed steel tariffs, United Steelworkers in Canada urge the federal government to keep safeguards in place to guard against foreign steel imports. “Our members themselves are appearing this month before the Canadian International Trade Tribunal (CITT) to make the case for extending safeguard measures beyond the original 200-day period […]
A couple of comments regarding possible price increase announcements as we go into first-quarter 2019 made today as I canvassed the flat rolled and plate steel markets pricing. “Mills appear to be much more sanguine on prices than I’ve seen in a while. I’m hearing them say that once all of the mills are done […]