Steel Mills
NLMK USA Reports Lower Sales in Q3
Written by Sandy Williams
October 14, 2019
NLMK USA’s sales fell 6.0 percent to 549,000 metric tons in the third quarter of 2019 compared to the second quarter, said NLMK Group in a trading update today. Declining volume was the result of decreased HRC sales due to lower demand from the tube and pipe sector. Shipments of hot-dipped galvanized (HDG) also decreased due to weaker demand in the construction sector.
Scrap prices in the U.S. dropped by 11 percent quarter-over-quarter, driven by lower rolled steel prices domestically and the reduction in demand in Turkey. Oversupply in the market and weaker demand pushed U.S. flat rolled steel prices down 5-8 percent in Q3, said NLMK.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Steel Summit 2024: Stelco CEO reflects on strategy, growth, and sale to Cleveland-Cliffs
In a candid fireside chat with SMU Senior Analyst/Editor David Schollert, Stelco’s CEO Alan Kestenbaum opened up about Stelco’s pending sale to Cliffs, his business strategy, outlook for the industry, and plans for the future. The chat took place on Tuesday, Aug. 24, at the 2024 SMU Steel Summit in Atlanta.
AISI: US steel shipments unchanged in July vs. June, down on-year
Domestic steel shipments remained nearly flat in July month over month but fell from a year earlier.
Media reports: Biden could block USS sale on national security concerns
President Joe Biden could block the $15-billion sale of U.S. Steel to Japan's Nippon Steel by citing national security concerns That’s according to reporting in the Washington Post and the Financial Times that was later picked up by the New York Times as well as in wire services.
USS threatens to cut ‘thousands’ of jobs, move HQ if Nippon sale blocked
U.S. Steel could slash thousands of jobs, shift away from integrated steelmaking, and move its headquarters out of Pittsburgh if its acquisition by Nippon Steel isn’t completed, the company’s top executive said. “We want elected leaders and other key decision makers to recognize the benefits of the deal was well as the unavoidable consequences if the deal fails,” company President and CEO David Burritt said in a statement on Wednesday.
CRU: SSAB to expand Mobile plate mill
SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]