JD Fields & Co. Inc. and HDM Tubes Ltd. have teamed up to build a new spiral-weld pipe mill on the campus of Steel Dynamic Inc.’s new flat-rolled steel mill in Sinton, Texas. The joint venture between JD Fields, a steel distributor focused on the energy and civil infrastructure markets, and HDM, a Turkish pipe […]
Canadian steelmaker Stelco has successfully commissioned its new pig iron caster at Lake Erie Works. The new caster has the capability to produce one million tons of pig iron per year and will offer an alternative to scrap for EAFs and Stelco’s own recently upgraded blast furnace. Pig iron is expected to be an attractive […]
NLMK USA has sued U.S. Steel for at least $100 million to recoup Section 232 tariffs it claims were unjustly levied against it because of a “deception” perpetrated by the integrated steelmaker against the Commerce Department. In addition, the U.S. subsidiary of NLMK Group–Russia’s largest steelmaker–seeks a jury trial, additional damages to be determined at […]
Steel Dynamics Inc. turned in a remarkable fourth quarter and 2020 results despite a year fraught with challenges from the COVID-19 pandemic. SDI posted its second highest record for yearly steel shipments at 10.7 million tons. The company’s fabrication platform shipped a record 666,000 tons. Metals recycling posted operating income of $45 million in 2020 […]
The newest powerhouse in the U.S. steel industry, Cleveland-Cliffs, expects a stellar fourth quarter due to the 2020 acquisitions of AK Steel and ArcelorMittal USA. Preliminary results for the company (including the period Dec. 9 through Dec. 31 for ArcelorMittal) show steel sales of 1.9 million tons and consolidated revenue of $2.2 billion to $2.3 […]
California Steel Industries (CSI) has closed its April flat-rolled order book just a week after opening it. “The orders you submitted during the last few days allowed us to achieve our planned capacity utilization. … We will contact you when we open the flat-rolled order book for May,” the West Coast slab converter said in […]
NLMK USA turned in a dismal quarter after cutting production in response to a months-long strike at the Pennsylvania mill and a dearth of duty-free slabs from the import market. Year-over-year, quarterly sales plummeted 22 percent to 370,000 metric tons and total sales for 2020 plunged 27 percent to 1.6 million MT, the company reported. […]
Cleveland-Cliffs plans to restart the No. 6 blast furnace at its steel mill in Cleveland, Ohio, a company spokeswoman said. Output from the No. 6 furnace will help to replace lost production from the steelmaker taking down for maintenance the No. 3 furnace at its Middletown, Ohio, mill, she said. “We are not planning to […]
Olympic Steel’s chief executive officer is bullish on steel demand in the months ahead despite the risks posed by higher prices. That optimism stems from the Biden administration indicating that it plans to spend big on infrastructure and from the prospect of the U.S. getting a better handle on the Covid-19 crisis, Olympic Steel CEO […]
JSW Steel operations in the U.S. contributed little to company earnings results in the third quarter of FY 2021. JSW Steel Ohio sold 10,892 metric tons during the quarter. Revenue from operations was $5.48 million resulting in an operating EBITDA loss of $21.26 million. The mill was idled early in the second quarter and did […]
It might be comforting to have 2020 in the rear-view mirror, but 2021 could have a few tricks up its sleeves, an ArcelorMittal USA analyst said. The good news: The U.S. should see apparent steel consumption increase 6% in 2021 after it fell 16% in 2020, according to Ping Liang, senior analyst-strategic marketing, at ArcelorMittal […]
California Steel Industries (CSI) has opened its April flat-rolled order book, and it has done so at sharply higher prices, according to some market participants. “California Steel Industries reserves the right to review any previously quoted requirements that have not been placed, acknowledged or confirmed in writing,” the West Coast slab converter said in a […]
Flat-rolled steel prices have room to rise despite being at record levels, and any correction might not come until well into the second quarter. That was the takeaway from a conference call this morning with members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI). “I don’t remember a market like this. Maybe at […]
When will steel prices plateau? There seem to be two schools of thought on the subject. Many predict prices will peak in March/April, according to Steel Market Update’s surveys of the market. Most members of the Heating, Air Conditioning & Refrigeration Distributors International say they don’t see market prices changing direction before mid-summer. HARDI is […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
The good news still outweighs the bad news in the construction/HVAC market, report wholesalers of galvanized steel products. During their monthly conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) said demand is strong across the country and has not been diminished by the record high steel prices, at […]
Steel buyers are resigned to paying record-high steel prices, if that’s what it takes to get the material they need to keep business moving. In their monthly conference call today, members of the Heating, Air Conditioning & Refrigeration Distributors International reported that demand for HVAC and construction products has seen little slowing, though they are […]
Wholesalers who sell galvanized steel products to the construction and HVAC markets are skeptical of analysts’ predictions of a big price correction in the next few months. Judging by the persistently strong inquiries from their customers, most believe the experts underestimated steel demand as prices were on the way up and may do the same […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
The pandemic, and its economic ramifications, is putting some Americans in dire need of a basic life requirement—food. Cleveland-Cliffs is stepping up to help, making commitments for over $1 million in cash contributions to food distribution organizations in more than 35 communities across North America. “We sadly recognize that, throughout the United States and Canada, […]
Reliance Steel & Aluminum Co. has promoted Karla R. Lewis to the role of president and given her a seat on the company’s board of directors. Both moves were effective on Jan. 15 and were part of Reliance’s executive succession plan, the company said. “Karla has been at the center of Reliance’s extremely well executed […]
U.S. Steel has closed its $774 million deal for the remaining stake in electric-arc furnace steelmaker (EAF) Big River Steel. “Taking a page from the Big River Steel playbook, we are closing on this world competitive green steel asset purchase under budget and ahead of schedule,” said U.S. Steel President and Chief Executive Officer David […]
Nucor Corporation announced that Craig Feldman, Executive Vice President of Raw Materials, will retire in June after a 35-year career with Nucor and the David J. Joseph Company. Feldman began his career in 1986 as a brokerage representative at DDJ progressing within the company to District Manager of the Salt Lake City brokerage office, Commercial […]
The U.S. steel industry has enough capacity to meet demand even if the Biden administration passes a big infrastructure bill, said the top executive of the nation’s biggest steelmaker. The United States “desperately needs” an infrastructure package worth “more than $1 trillion,” and Nucor hopes such a bill will be passed in the early days […]
Despite market challenges related to COVID-19, Commercial Metals Company reported earnings of $63.9 million on net sales of $1.4 billion for the first quarter of FY 2021. CMC is encouraged by stabilizing backlogs and a renewed enthusiasm by clients to move forward with projects. “Market uncertainty continues to persist,” said Chairman, President and CEO Barbara […]
Ryerson Holding Corporation has appointed James Claussen as executive vice president and chief financial officer, effective Jan. 11. Claussen joined Ryerson in 2002 and has held several senior management and leadership positions including CFO of Ryerson’s North-West Region and general manager of corporate development. He was named president of Central Steel & Wire Co. following […]
Most new U.S. flat-rolled electric-arc furnace steelmaking capacity won’t start up until the second half of this year, which could have big implications for spot hot-rolled coil prices. The back-ended nature of the capacity add means the market might sustain hot-rolled coil prices of $1,000 per ton or more longer than many buyers believe, industry sources […]
Big River Steel is running the new, second line at its steel mill in Osceola, Ark., at close to 90% of its rated capacity. “Big River Steel expected and has had another record startup in terms of its second furnace and caster,” said a company spokesperson in an email to Steel Market Update. The company […]
Esmark Steel Group has a new chief executive officer as of Jan. 1. Roberto M. Alvarez has been appointed CEO after serving as executive vice president and a member of the Esmark Board of Directors. “We believe that Roberto’s years of experience, not only with Esmark but also within the broader steel industry, position him […]
NLMK USA and striking workers at its operations in western Pennsylvania appear no closer to a labor accord than they were more than four months ago. And the two sides remain at loggerheads despite near-record hot-rolled coil prices and despite slab being available following the reset of the Section 232 quota on Brazilian semi-finished goods. […]