SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]
Vice President Kamala Harris said she opposed U.S. Steel’s acquisition by Nippon Steel in a speech on Labor Day in Pittsburgh.
Current steel mill lead time averages are a few days longer than levels seen one month prior, but remain near historical lows for both sheet and plate products.
Hybar CEO David Stickler and SMU Managing Editor Michael Cowden shared a candid conversation about Hybar's ambitious plans on Tuesday morning at the SMU Steel Summit, held in Atlanta this week.
On Wednesday, Nippon Steel announced additional investments it plans to make in U.S. Steel facilities as part of its pending purchase of the iconic American flat-rolled steelmaker. The two companies still anticipate the deal’s closing by the end of this year. With an investment of “no less than $1 billion,” Nippon said it would replace […]
Leading industry analysts on Monday discussed steel prices and how they will be impacted by trade policy, consolidation, mill discipline, November’s elections, and more.
Whether as a guitar player in a rock and roll band or as a high-powered executive at Steel Dynamics Inc. (SDI), it’s all about the team for SDI’s Barry Schneider.
Having risen for three weeks in a row, weekly production is now at the highest rate seen since February 2023.
Zekelman Industries has bought 5% of available shares of Canada’s Algoma Steel.
Global steel output fell 5% in July according to World Steel Association’s (worldsteel) latest release. Total steel mill production around the world tallied up to 152.8 million metric tons (mt) for the month of July, the second-lowest monthly rate seen this year.
BlueScope Steel is progressing on its expansion plans for the US market. Those plans include lifting the capacity of its North Star sheet mill and setting up a greenfield metal coating facility in the Midwest.
Cleveland-Cliffs has named Michael Hrosik as senior vice president of commercial, effective immediately.
Fall is coming in North America, and with it, steel mills' regularly scheduled fall maintenance outages.
Union workers at Cleveland-Cliffs’ Dearborn Works have approved a new four-year labor agreement.
Despite this summer’s “challenging near-term pricing and uncertain macroeconomic conditions,” Algoma Steel CEO Michael Garcia said the company is focusing on what it can control: operating safely, providing exceptional customer service, and successfully executing its capital programs.
Altos Hornos de México (AHMSA) announced it is entering the third stage of bankruptcy.
Specialty steel maker Metallus, formerly known as TimkenSteel, has officially begun work on a bloom reheating furnace at its Faircrest plant in Ohio.
Domestic steel mill output rose last week after falling for two straight weeks, according to the latest release by the American Iron and Steel Institute (AISI). Total raw steel mill production was estimated at 1,735,000 short tons (st) in the week ending Aug. 10. That’s up 13,000 st, or 0.8%, from the week prior. It’s […]
The company is in the process of being acquired by Cleveland-Cliffs in a deal valued at USD$2.5 billion.
U.S. Steel posted significantly lower second-quarter profits on falling prices and start-up costs at its Big River Steel (BRS) campus in Osceola, Ark.
Lower steel prices and expenses from ongoing litigation negatively impacted Ternium’s second-quarter results. On Wednesday, the Luxembourg-based Latin American steelmaker posted a Q2 loss of $743 million on sales that rose 17% from last year to $4.5 billion.
Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Nucor recording lower second quarter earnings on falling steel prices. And the Charlotte, N.C.-based predicted that profits would be lower still in the third quarter, primarily because of weaker results from its steel mills divisions.
Cleveland-Cliffs’ earnings tumbled in the second quarter as the company cited weak demand and pricing.
Cleveland-Cliffs is starting a new electrical distribution transformer production plant in Weirton, W.Va.
ArcelorMittal Mexico reached an agreement with the local mining union on Thursday, July 18, to end the 55-day blockade of its steelmaking and mining facilities in Lazaro Cardenas, Michoacán. While a large majority of Section 271 of the Sindicato Nacional de Mineros voted to accept the proposal, a group of unknown size continues to protest illegally and has even turned to violence, according to the company.
The recently announced acquisition of Stelco by Cleveland-Cliffs (Cliffs), priced at nearly three times book value, provides a great price for Stelco shareholders. And various synergies will likely leave Cliffs with tremendous runway for further growth in this deal. Cliffs expects to close this deal in 2024 Q4 upon government approval. This approval is expected but not a given.