Category: Steel Mills

SSAB reported lower earnings in the third quarter on weaker demand in Europe that was only partially offset by solid demand for plate in North America.

The first rule of Steel 101 is that you’re free to talk about Steel 101. We actually encourage it. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Mt. Pleasant, S.C.

SMU’s Current and Future Steel Buyers Sentiment Indices both increased this week, based on our most recent survey data. Every other week we poll steel buyers about sentiment. The Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s chances of success in the current market, as well as three to six months down the road. We have historical data going back to 2008. Check our interactive graphing tool here.

U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.

U.S Steel posted sharply lower earnings as a result of a drop in steel prices and only modest gains in shipments. The Pittsburgh-based steelmaker said little about the sales process it launched in August.

Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.

Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.

Radius Recycling, formerly known as Schnitzer Steel Industries, reported a loss for its fiscal fourth quarter ended Aug. 31.

Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.

On the company’s third-quarter earnings call with analysts on Tuesday, Oct. 24, Cleveland-Cliffs executives were careful not to disclose anything about their talks with U.S. Steel on a potential acquisition.

Cleveland-Cliffs says it is taking advantage of higher demand from the automotive sector – its biggest end-use market – this year.

Nucor reported a drop in third quarter profits on lower steel prices, with the biggest hit to earnings occurring at its sheet mills. And the Charlotte, N.C.-based electric-arc furnace (EAF) steelmaker doesn't see things improving in the fourth quarter.

Cleveland-Cliffs posted solid results for the third quarter, with strong steel shipments, particularly to the automotive industry, the steelmaker said in its Q3 earnings report on Monday, Oct. 23.

India's JSW Steel said lower steel prices and adverse market conditions affected the performance of its US operations in its fiscal 2024 second quarter ended September 30. Still, the company posted improved results compared to the same quarter last year.

Nucor Steel held a groundbreaking ceremony on Friday for its Nucor Steel West Virginia sheet mill in Mason County, W.Va.

Nucor Corp. announced it is considering installing a new rebar micro mill in the Pacific Northwest.

On its third-quarter earnings conference call on Thursday, Oct. 19, Steel Dynamics Inc. executives did not rule out the possibility of ‘inorganic growth’ opportunities.

Steel Dynamics Inc. provided an update on the four new coating lines it is adding to its Heartland flat rolled processing mill and Sinton sheet mill on its third-quarter earnings conference call with analysts on Thursday, Oct. 19.

Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).

Steel Dynamics Inc. (SDI) reported a drop in third quarter profits on lower prices for flat-rolled steel as well as for fabricated products.

Subcontractors for U.S. Steel in Indiana stole ~20 million pounds of scrap valued at ~$2 million over a two-year period.

The US Department of Energy announced seven projects that will receive $7 billion in funding to establish regional hydrogen hubs across the country.

Raw steel production in the US declined slightly in the week ending Oct. 14, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 16.

River Metals Recycling (RMR), a subsidiary of Nucor, has acquired all the Cincinnati-based assets of Garden Street Iron & Metal.

U.S. Steel Corp. celebrated the opening of its $450-million non-grain oriented (NGO) electrical steel line at its Big River Steel Works in Osceola, Ark.

With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.

Steel Dynamics Inc. (SDI) plans to take a four-day outage at its sheet mill in Butler, Ind., according to sources familiar with the matter.

Steel Dynamics Inc. (SDI) has lost some production this month at its sheet mill in Columbus, Miss., on a combination of planned and unplanned outages, according to sources familiar with the matter.

U.S. Steel will take a 16-day planned outage beginning next week on the No. 6 blast furnace (BF) at its Gary Works in northwest Indiana.

Commercial Metals Company (CMC) has unveiled its new branding as "CMC," reflecting its growth beyond metals.