Canada
January 6, 2022
Written by David Schollaert
Stelco Holdings Inc. said its fourth-quarter steel shipments were negatively impacted by production challenges and unplanned outages.
The Hamilton, Ontario-based steelmaker shipped roughly 625,000 net tons of steel in the fourth quarter of 2021, below prior guidance of 675,000 to 680,000 net tons.
Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin this week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin principles” and is a positive step in the ongoing battle against global steel market distortions. However,
The latest tally of active drilling rigs increased in Canada while slightly easing in the US this week, according to oil and gas rig count data published by Baker Hughes.
Algoma Steel Group Inc. expects the first heat from its second electric-arc furnace (EAF) in the coming days, even as it forecasts a quarterly EBITDA loss and a 20% decline in shipments.
Canadian Prime Minister Mark Carney has threatened legal action against Cleveland-Cliffs over the layoffs announced earlier this week at its Stelco mill in Hamilton, Ontario.
Stelco Holdings Inc. is indefinitely idling its finishing operations in Hamilton, Ontario. The Canadian steelmaker, a subsidiary of Cleveland-Cliffs, will concentrate steel production at its Lake Erie Works in Nanticoke, Ontario, a Cliffs spokesperson told SMU.