International Steel Mills
CRU: Grupo Simec Shuts Two Republic Steel Mills For Good
Written by Steve Garnsey
October 16, 2023
Specialty steel producer Grupo Simec has permanently closed down its Republic Steel mills in Canton, Ohio, and Lackawanna, in New York state, it has emerged.
In August, the company blamed an extremely challenging special bar quality (SBQ) market, competitive market pricing, decreased demand, higher input costs, and the general inflationary environment for an indefinite idling. Around 500 employees were furloughed.
A company lawyer has since told Ohio’s attorney general’s office that the closure is permanent. The office described the information as confidential but critical to share because of ongoing settlement negotiations of the state’s air pollution case against the company, local newspaper, The Canton Repository, reported.
Simec has insisted that Republic Steel, as the only producer of leaded steel in North America, took many steps over the years to remain compliant with ever-changing environmental regulations, particularly related to air quality. But continuing to produce in facilities up to 125 years old proved to be too challenging.
Therefore, the Guadalajara, Mexico-headquartered group transferred its leaded steel production to a new, state-of-the-art mill in Tlaxcala, central Mexico. The rest of Canton’s and Lackawanna’s output of SBQ, rod, wire, rebar, and other long products were also moved there during the initial idling.
Steve Garnsey
Read more from Steve GarnseyLatest in International Steel Mills
Nippon buying stake in Canadian iron ore project
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
Nippon respects HR dumping decision, expects lower rate in next review
Nippon Steel says it respects the US Department of Commerce’s findings in administrative reviews despite the agency recently assigning the Japanese steelmaker a higher dumping margin.
Nippon still sees USS deal closing by end of ’24: Report
Japan’s Nippon Steel still anticipates closing on its proposed deal to acquire U.S. Steel by the end of 2024.
BlueScope lowers profit predictions due to global steel slowdown
Australia’s BlueScope Steel has lowered its earnings guidance due to challenging conditions in the global steel industry.
Trump reiterates opposition to USS sale to foreign firm
Former President Donald Trump repeated his disapproval of U.S. Steel’s sale to a foreign owner in a campaign speech on Sunday.