Steel Mills
Cliffs to Idle HSM at AK Steel’s Dearborn Works?
Written by Tim Triplett
April 30, 2020
Steel Market Update sources and other trade press and are reporting that Cleveland-Cliffs is planning to immediately idle the hot strip mill at AK Steel’s Dearborn Works in Michigan for an indefinite period, possibly permanently, in response to the coronavirus crisis and other market pressures.
Cleveland-Cliffs, parent of AK Steel, declined to comment, saying the company is in a quiet period ahead of its first-quarter earnings call on May 11.
Sources say AK will move Dearborn’s slab rolling to its mill in Middletown, Ohio. Further details were unavailable. The company temporarily idled the blast furnace at Dearborn last month in response to the sharp decline in automotive demand.
In a letter posted on the mill’s Facebook site, UAW Local 600 President Steve LaBodie expressed disappointment that union members learned of the company’s plans to idle the Dearborn Works hot mill via press reports. “I am furious that our membership had to find out in such a manner,” he said. “This is terrible news and it’s going to negatively affect a lot of employees.”
Tim Triplett
Read more from Tim TriplettLatest in Steel Mills
Nippon’s Mori meets with Pa. Gov. Shapiro: Report
Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.
Mexican court orders sale of officially bankrupt AHMSA
After failing to reach agreements with its creditors, Altos Hornos de México (AHMSA) has been formally declared bankrupt by a Mexican bankruptcy court.