Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.
Cleveland-Cliffs’s Chairman, President, and CEO Lourenco Goncalves hosted a fireside chat with US Trade Representative Katherine Tai and Acting Secretary of Labor Julie Su on Friday at the company’s plate mill in Coatesville, Pa.
ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.
Steel Dynamics Inc. (SDI) has become the world’s first steel producer with carbon targets certified by the Global Steel Climate Council (GSCC).
After a complete stoppage earlier this year, ArcelorMittal Mexico’s steel mill in Lazaro Cardenas, in the state of Michoacán, will soon return to full production.
Stelco Inc. said that the Canadian Competition Bureau will not challenge Cleveland-Cliffs’ pending buy of the Hamilton, Ontario-based steelmaker.
Cleveland-Cliffs has cleared a regulatory hurdle for its pending purchase of Canadian steelmaker Stelco Inc.
US raw steel mill production has slipped for the fourth consecutive week, according to the latest figures released from the American Iron and Steel Institute (AISI).
Nucor’s consumer spot price (CSP) for hot-rolled (HR) coil is unchanged this week at $730 per short ton (st).
Nucor is closing its Nucor Tubular Products Chicago facility and will be laying off 47 workers.
Canadian flat-rolled steelmaker Algoma predicts that it will be roughly breakeven on an adjusted EBITDA basis in the second quarter of its fiscal year. The Sault Ste. Marie, Ontario-based company expects adjusted EBIDTA in a range from a gain of $5 million CAD ($3.7 million USD) to a loss of $5 million CAD in fiscal Q2'25.
A board of arbitration has ruled in favor of U.S Steel vs. the United Steelworkers (USW) union in a dispute regarding Nippon Steel’s more than $14-billion proposed deal for the Pittsburgh-based steelmaker.
U.S. Steel is the first steelmaker in the world qualified to sell its products as “ResponsibleSteel Certified Steel” at its Big River Steel operation in Osceola, Ark.
A transformer caught fire at U.S. Steel’s Midwest Plant in Portage, Ind., on Sunday.
Gerdau Long Steel North America plans to acquire Dale’s Recycling Partnership, a Tennessee-based operator and processor of ferrous scrap.
U.S. Steel expects third-quarter adjusted earnings of approximately $300 million, according to figures released on Thursday. The Pittsburgh-based steelmaker said the result was in line with prior guidance and came despite “challenging pricing dynamics.” The company also said the third quarter likely reflected a “bottoming steel price environment.”
The US government’s decision on whether it will block Nippon Steel’s acquisition of U.S. Steel on national security grounds has been pushed until after the November elections.
Cleveland-Cliffs Inc. on Monday reiterated its commitment to a major decarbonization project at its Middletown Works in Ohio, despite an earlier report suggesting otherwise.
Nucor blamed lower steel prices for weaker third-quarter results in earnings guidance released on Tuesday.
Steel Dynamics Inc. (SDI) expects lower third-quarter earnings on the heels of “meaningfully lower” prices at its flat-rolled steel operations. The Fort Wayne, Ind.-based steelmaker expects Q3’24 earnings of $1.94 to $1.98 per diluted share, according to figures released on Monday. That’s down from $2.72 per share in Q2’24 and down from $3.47 per share in Q3’23.
Stelco shareholders voted overwhelmingly on Monday to OK the $2.5-billion sale of the Canadian flat-rolled steelmaker to Cleveland-Cliffs. Indeed, 99.97% of those who cast ballots voted to approve the deal, according the Hamilton, Ontario-based steelmaker.
The White House decision on blocking Nippon Steel’s play for Pittsburgh-based U.S. Steel might be pushed back until after the upcoming presidential election, according to a report in the Washington Post.
Hybar said that contracting services firm Quanta Services has made a “strategic” investment in the company as it build its sustainable rebar mill in northeast Arkansas.
Cleveland-Cliffs plans to place the C-6 blast furnace at its Cleveland Works in Ohio on hot idle in October, according to sources familiar with the matter.
Ternium USA Inc. has requested a host of Section 232 tariff exclusions since the US reimposed the duties on Mexican steel earlier this summer. Domestic steelmakers, however, are pushing back.
U.S. Steel has rolled out “ZMAG,” a flat-rolled coated steel product intended to endure harsh weather conditions.
In a candid fireside chat with SMU Senior Analyst/Editor David Schollert, Stelco’s CEO Alan Kestenbaum opened up about Stelco’s pending sale to Cliffs, his business strategy, outlook for the industry, and plans for the future. The chat took place on Tuesday, Aug. 24, at the 2024 SMU Steel Summit in Atlanta.
Domestic steel shipments remained nearly flat in July month over month but fell from a year earlier.
President Joe Biden could block the $15-billion sale of U.S. Steel to Japan's Nippon Steel by citing national security concerns That’s according to reporting in the Washington Post and the Financial Times that was later picked up by the New York Times as well as in wire services.
U.S. Steel could slash thousands of jobs, shift away from integrated steelmaking, and move its headquarters out of Pittsburgh if its acquisition by Nippon Steel isn’t completed, the company’s top executive said. “We want elected leaders and other key decision makers to recognize the benefits of the deal was well as the unavoidable consequences if the deal fails,” company President and CEO David Burritt said in a statement on Wednesday.