Steel Dynamics (SDI) is expecting stronger earnings for the second quarter of 2023 vs. the previous quarter, but lower than the year-earlier period. The Fort Wayne, Ind.-based steelmaker released Q2 earnings guidance on June 16 in the range of $4.78 to $4.82 per diluted share. This compares with Q1’s $3.70 per diluted share and prior-year Q2 […]
Nucor aims to increase base prices for new orders of steel sheet by at least $50 per ton ($2.50 per cwt), effective immediately. The Charlotte, N.C.-based steelmaker also said that its new base price for hot-rolled coil (HRC) was $900 per ton. “We reserve the right to review and re-quote any offers that are not […]
Nucor Corp. said its second-quarter earnings should beat those of the prior quarter on strength in all its business segments. The steelmaker expects its Q2 earnings to be in the range of $5.45 to $5.55 per diluted share. Although down from the $9.67 per share posted in Q2 last year, it’s an improvement upon Q1 […]
The solution to the dilemmas faced by Altos Hornos de México (AHMSA) is in the hands of the federal government, a spokesman for the Mexican steelmaker told a local news outlet. AHMSA spokesman Francisco Orduña was responding to comments last Friday by Mexican President Andrés Manuel López Obrador regarding restructuring the company’s debt, according to […]
U.S. Steel aims to increase base prices on spot orders of flat-rolled steel by at least $50 per ton ($2.50 per cwt.) The move is effective immediately and applies to “all open quotations and/or negotiations where an agreement is yet to be concluded,” the Pittsburgh-based steelmaker said in a letter to it sales executives on […]
Nucor said Wednesday the location of its second utility structures production facility will be in Crawfordsville, Ind. The Charlotte, N.C.-based steelmaker said the new operation it’s building will be located next to the Nucor Steel Crawfordsville steel mill, and is expected to create 200 full-time jobs. “With this second utility structure production facility, we are expanding our […]
U.S. Steel published its 2022 Environmental, Social and Governance (ESG) Report in which the Pittsburgh-based steel maker said it has dedicated itself to creating sustainable steel and contributing to a greener economy. The report, titled “Essential for Our Future,” reaffirms how essential steel is to creating green technology such as wind turbines solar fields, and […]
SSAB Americas, MidAmerican Energy, and Arcosa Wind Towers met on Tuesday, June 7, with Iowa governor Kim Reynolds to discuss increasing sustainable product solutions, highlighting the companies’ circular supply chain. All three companies are based in the state, with steelmaker SSAB Americas part of Swedish parent company SSAB; Arcosa Wind Towers making energy products; and […]
NLMK USA has published new, lower coating extras that are effective June 8. The steelmaker’s Sharon, Pa.-based galvanizing facility has reduced extras by an average of nearly 14%, according to market participants and the new coating extras sheet. NLMK’s prior extras had taken effect on Aug. 1, 2022. Our website reflects NLMK’s latest coating extras, as […]
General Motors Co. recently announced a series of investments to bolster its automobile manufacturing in the US – and it’s not all just for electric vehicles (EVs). Internal Combustion Engines The Detroit-based automaker plans to inject $1 billion into two of its manufacturing sites in Flint, Mich., for the production of heavy-duty trucks with internal […]
General Motors will soon be sourcing low-carbon steel from ArcelorMittal North America. The steelmaker said it will provide the Detroit-based automaker with its XCarb™ recycled and renewably produced (RRP) steel made at its ArcelorMittal Dofasco plant in Hamilton, Ontario. Shipments are anticipated to begin in the current quarter, ArcelorMittal said in a statement. Made via […]
Steel Dynamics Inc. (SDI) has published new, lower coating extras that are effective July 3. The Fort Wayne, Ind.-based steelmaker has reduced extras by an average of 10%, according to market participants and the new coating extras sheet. SDI’s current extras took effect on Aug. 1, 2022. Under that schedule, a 0.07-0.054 G90 coating was […]
The sale of Mexican steelmaker Altos Hornos de México (AHMSA) has reportedly stalled because the investment capital has not yet been received, according to a local media report. The remarks were made by AHMSA’s Alonso Ancira Elizondo in a meeting he had with union officials in San Antonio, Texas, according to an article in Mexico’s […]
Altos Hornos de México (AHMSA) workers and their wives demonstrated peacefully on Thursday, according to a local media report. Monclova Mayor Mario Dávila expressed solidarity with the workers who met on Thursday morning at the municipal presidency building looking for support, according to an article in El Periódico La Voz on Thursday. The action was taken because of […]
PGT Trucking has delivered its inaugural shipment of low-greenhouse gas (GHG) steel via electric vehicle from Nucor’s Brandenburg, Ky., plate mill to a nearby fabricator. The Aliquippa, Pa.-based flatbed transportation company said its truck was a Nikola Class 8 battery-electric vehicle. The three companies commemorated the first-ever shipment of low GHG intensity steel by a Class 8 zero-emissions […]
Swedish steelmaker SSAB is urging ambitious standards for the steel industry’s transition to green steelmaking as the EU-US Trade and Technology Council (TTC) meeting takes place in Luleå, Sweden, on May 30-31. Martin Lindqvist, president and CEO of SSAB, said that to succeed in the transition, effective frameworks, political leadership, and action are needed. “It is also […]
Nucor Corp. will keep plate prices unchanged with the opening of its July order book. The sideways move by the steelmaker comes after it increased plate prices in March and April, by $50 per ton ($2.50 per cwt) and $40 per ton ($2.00 per cwt), respectively, according to SMU’s steel mill price increase calendar. The Charlotte, N.C.-based steelmaker […]
Cleveland-Cliffs has been granted state mineral leases for over 2,600 acres of iron ore in Itasca County, Minn., the company announced on May 25. The leases are at the Nashwauk mine site located in the Iron Range region, just north of Grand Rapids, Minn. Cliffs said this approval is a final action and the company has now […]
Nucor announced a reorganization of its plate mill group, including the closure of Nucor Steel Longview and a production shift to its new mill in Brandenburg, Ky. The production phase out at the 100,000-ton-per-year mill in Longview, Texas, will occur in the third quarter of this year, Nucor said in a statement on Wednesday, May […]
As pricing and lead times continue to drop, buyers are keeping a close eye on the market, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the Tuesday, May 23, meeting of its Sheet Metal/Air Handling Council. Cautious optimism carried over from April’s meeting. Currently, 90% of galvanized buyers say […]
Indian steelmaker JSW reported its results for its fiscal fourth quarter and financial year ended March 31, noting a sequential rise in quarterly shipments and sales at its JSW Steel USA operations. JSW Steel USA’s Mingo Junction, Ohio, mill operated at 64% of capacity during Q4, producing 86,203 metric tons of HRC and 231,908 metric […]
Nucor has taken another step toward using nuclear power to fuel its electric-arc furnace (EAF) steel mills. The Charlotte, N.C.-based steelmaker has signed a memorandum of understanding (MoU) with NuScale Power to evaluate co-locating NuScale’s VOYGR™ small modular nuclear reactor (SMR) power plants near Nucor’s mills. Doing so would provide carbon-free electricity to the mills […]
Cleveland-Cliffs is preparing to lay off approximately 300 workers at its Weirton, W.Va., tin mill operations in June due to “dumped and subsidized imports,” according to a press release from Sen. Joe Manchin (D-W.Va.). The Cleveland-based steelmaker invested more than $50 million over two years in the Weirton plant to increase production. Census data indicates that […]
Executives from leading US steel companies sat down to discuss some of the challenges ahead of what appears to be a very bright future for the industry at AISTech 2023’s Town Hall Forum in Detroit on Wednesday, May 10. Panelists included Traci L. Forrester, Cleveland-Cliffs’ EVP, environmental and sustainability; Richard L. Fruehauf, SVP – chief […]
Nucor has announced that Brad Ford will be promoted to EVP of fabricated construction products effective May 14. “Brad is an exceptional leader who consistently delivers strong results,” Leon Topalian, Nucor chair, president, and CEO, said in a statement on Friday. “His experience in the industry for more than 20 years has positioned him well to take on this challenging […]
Canadian flat-rolled steelmaker Stelco swung to a loss in the first quarter on lower selling prices and increased costs. The Hamilton, Ontario-based steelmaker said that increased shipments weren’t enough to offset those headwinds. It predicted better times in the second quarter. “Prices in the second quarter have improved to more favorable levels, lead-times have normalized, […]
Decarbonization was the order of the day at the AISTech 2023 President’s Award Breakfast on Tuesday. Other issues highlighted included workforce availability and bringing more women into the steel industry. With over 1,300 attendees present at the breakfast in Huntington Place in Detroit, and hundreds more watching online, the AIST Board of Directors Awards were […]
When gas is restored to Altos Hornos de México’s (AHMSA’s) plants, operations could restart at the Mexican steelmaker as early as next week, and within six weeks steel production could be at a good level, according to comments by AHMSA’s CEO in a Mexican media report. However, although Daniel Chapman, founder and CEO of investment fund […]
Cleveland-Cliffs has successfully completed a hydrogen (H2) injection trial at its Middletown Works blast furnace in Ohio. “This groundbreaking introduction of hydrogen gas as an iron-reducing agent in the blast furnace is the first-ever use of this carbon friendly technology in the Americas region,” the Cleveland-based steelmaker said in a statement on Monday. Cliffs noted […]
A senator from West Virginia believes the US Army Corps of Engineers’ permitting process for Nucor’s planned mill in Mason County is dragging on too long. “I absolutely think it’s moving too slowly,” Sen. Shelley Moore Capito (R., W.Va), said during a virtual press conference with reporters on Thursday, according to Huntington, W.Va.’s The Herald-Dispatch. […]