Steel Mills
Reopening of Mingo Junction Steelworks Anticipated
Written by Sandy Williams
September 15, 2016
Mingo Junction Steel Plant in eastern Ohio may resume making steel in the near future, according to reports by The Intelligencer.
In mid-August, Jefferson Country Commissioner Thomas Graham said he expected an announcement of the reopening in the next few week.
It is rumored that Asian Colour Coated Ispat, Ltd. (ACCIL), a steel manufacturer in India, is negotiating purchase of the mill for $35 million. ACCIL produces cold rolled coil and sheets as well as Galvanized and Colour-coated steel in India. Acquisition of the Mingo Junction 80 inch rolling mill would expand its market in the U.S.
Mingo Junction was part of the Wheeling-Pitt Steel Corp owned by Esmark. Esmark sold all the facilities to Severstal in 2008. Severstal idled the Steubenville and Mingo Junction plants in 2009 and later sold them to RG Steel. Following RG Steel’s bankruptcy, Frontier Industrial bought the Mingo Junction facility, and its 2004 electric arc furnace, for $20 million.
If the transaction is completed and the mill reopens, as many as 300 workers could be hired.
Sources say ACCIL will not start the EAF immediately but will buy slabs and run reheat and the hot strip mill. The ACCIL has a multiyear contract for slabs from a new joint venture slab mill in Brazil.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
SDI presses on with steel, aluminum investments
Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.
CMC earnings slide, but still near top mark
CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]
SDI posts lower Q3 profit, sees better times in ’25
Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.
Cliffs hosts fireside chat on industry, union, government collaboration
Cleveland-Cliffs’s Chairman, President, and CEO Lourenco Goncalves hosted a fireside chat with US Trade Representative Katherine Tai and Acting Secretary of Labor Julie Su on Friday at the company’s plate mill in Coatesville, Pa.
Nippon agrees to sell Calvert stake, if USS deal closes
ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.