ArcelorMittal faced a number of challenges that impacted earnings in the first quarter resulting in net income plunging 66 percent to $414 million from $1.19 billion reported in both the fourth quarter of 2018 and first quarter of 2019. Earnings reflected a $150 million impairment charge related to the sale of assets to acquire ArcelorMittal […]
Primetals Technologies will supply an Arvedi Endless Strip Production line for the U.S. Steel Edgar Thomson Plant in Pennsylvania. The ESP line is the first to be constructed in the United States and has a rated annual capacity of 2.76 million tons of high quality, ultra-thin strip. The ESP line will be able to produce […]
AISTech 2019, presented by the Association for Iron & Steel Technology, boasted more than 8,000 attendees this year. The four-day conference May 6-9 in Pittsburgh included more than 550 technical presentations and nearly 550 domestic and international exhibiting companies. The exhibit floor was a dizzying display of the latest innovations from software and robotics to cranes […]
AISTech 2019, presented by the Association for Iron & Steel Technology, boasted more than 8,000 attendees this year. The four-day conference May 6-9 in Pittsburgh included more than 550 technical presentations and nearly 550 domestic and international exhibiting companies. The exhibit floor was a dizzying display of the latest innovations from software and robotics to cranes […]
U.S. Steel CEO David Burritt urged attendees at AISTech 2019, under way this week in Pittsburgh, to seek innovation for the future while preserving and improving on what worked well in the past. “We must dream big, push hard, while always doing good things,” he said. “All of us recognize that steel is the material […]
ArcelorMittal’s $19.25 million project to repair its No. 2 coke battery at Burns Harbor is on track to meet its 2022 completion date, reports the company. The coke battery’s last rebuild was in 1994. Work on the five-year project began last year. The company continues to produce coke at the facility, which has two six-meter […]
U.S. Steel’s first-quarter earnings call was dominated by the news of the steelmaker’s planned $1.2 billion investment at Mon Valley Works to build an endless casting and rolling facility at its Edgar Thomson Plant and a cogeneration facility at its Clairton Plant. CEO David Burritt called the project “transformative” for U.S. Steel, putting the company […]
U.S. Steel’s plan to invest more than $1 billion in a new casting and rolling facility at its Edgar Thompson Plant in Braddock, Pa., and a new cogeneration facility at its plant in Clairton, Pa., has the support of the United Steelworkers (USW), even though the new, more efficient technology will reduce the manhours needed […]
U.S. Steel announced plans to give Mon Valley Works a $1.2 billion upgrade. Expansion plans include a new sustainable endless casting and rolling facility at its Edgar Thomson Plant in Braddock, Pa., and a cogeneration facility at its Clairton Plant in Clairton, Pa. The endless casting and rolling technology combines thin slab casting and hot […]
Note: this article was corrected on 5/3/2019; scrap will be down by $20-$30 per ton-in May, not falling to $230 per ton as previously stated. Ryerson Holding Corp. is expecting a better second half for the steel industry despite some weakening economic data and inventory issues. “Last year was a very unusual time for our […]
Olympic Steel reported a 19 percent increase in its first-quarter sales, netting $446 million, thanks in part to its January acquisition of manufacturer McCullough Industries. Net income for the quarter totaled $2.1 million, down from 7.6 million in the same quarter of 2018. Returns from Olympic’s manufacturing segment are considerably higher than service center margins, […]
Worthington Industries, Inc., has promoted Jeff Klingler to president of Steel Processing and Eric Smolenski to president of Pressure Cylinders. “Jeff and Eric are both proven leaders at Worthington; they will be excellent additions to our executive team,” said John McConnell, Chairman and CEO. “Jeff has a deep knowledge of our Steel business and has […]
AK Steel is not too worried about new steel capacity stealing market share. New carbon steel capacity coming on line is still several years away, said President and COO Kirk Reich. Much of it is not “new” but rather older restarted facilities that AK Steel competed with in the past, and some of that capacity […]
SSAB Americas was a strong contributor for SSAB’s global steel business in the first quarter of 2019. The Americas segment turned in a solid performance with an EBITDA margin of 23 percent and record profit of $129 million due to higher steel prices. Sales increased 45 percent from the first quarter of 2018 to $3.363 […]
Olympic Steel announced the promotion of Andrew J. Tobias to General Manager of Berlin Metals. Tobias has been with the company since 2013, beginning as an outside sales representative for Integrity Stainless. He was promoted to Stainless Steel Product Manager-Specialty Metals in 2015. In his new position, Tobias will be responsible for driving profitable growth […]
Management at NLMK USA is contemplating its next move after receiving the disappointing news Tuesday that the U.S. Commerce Department has denied its appeals for exclusions from the Section 232 tariffs on imported slabs. Commerce has determined that semifinished steels are available in sufficient quantities to support the domestic market, and that slab converters like […]
Reliance Steel & Aluminum posted a good first quarter with net sales of $2.96 billion, increasing 7.2 percent year-over-year and 4.1 percent from the fourth quarter. Net income jumped 122 percent from the fourth quarter to $190.1 million. Tons sold increased 5.2 percent from the fourth quarter to 1.5 million tons, but were slightly below […]
NLMK USA shipments increased 19 percent to 600,000 metric tons from the fourth quarter of 2018 to the first quarter of 2019. Higher shipments resulted in $530 million in revenue—a 4.0 percent increase despite steel prices slipping 12 percent quarter-over-quarter. NLMK USA hot rolled coil shipments totaled 330,000 metric tons and high value added products […]
Steel Dynamics has narrowed the choice for its new flat rolled steel mill to either Texas or Louisiana. The planned $1.8 billion EAF mill will have an annual production capacity of 3 million tons and include a 450,000-ton galvanizing line and 250,000-ton paint line with Galvalume capability. The mill will differentiate itself by producing higher […]
Nucor announced net income of $501.8 million for the first quarter of 2019, a 22 percent decrease from income of $646.85 million in the fourth quarter. Net sales slipped 3.0 percent sequentially to $6.10 billion from the fourth quarter as the average sales price per ton dipped 4.0 percent. The drop in earnings was expected […]
“A somewhat challenging flat-rolled price environment” is how Steel Dynamics CEO Mark Millett described the first quarter of 2019. SDI posted net income of $204 million in the first quarter and sales of $2.8 billion. Lower steel prices impacted sales resulting in 3.0 percent decline sequentially. Operating income for the company’s steel operations fell 22 […]
Union members at AK Steel have turned down a new contract offer from the steelmaker. UAW Local 3303 voted overwhelmingly on Monday against ratification of a tentative contract, calling it an “insult” in light of the company’s profits. Union workers were offered a 75 cent raise for each year of the three-year contract, which employees […]
Nucor Corporation announced today that Chief Digital Officer and Executive Vice President R. Joseph Stratman plans to retire on June 8 after more than 29 years of service with Nucor. Stratman began his career with Nucor in 1989 as Controller of Nucor Building Systems-Indiana. He then served as Controller of Nucor-Yamato Steel Company, General Manager […]
ArcelorMittal received approval from the European Commission to sell several of its European steelmaking assets to Liberty House Group. The sale is part of a divestment agreement made by ArcelorMittal with the Commission to acquire the Italian steel mill Ilva. Included in the transaction is ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia), […]
AK Steel announced that longtime engineering employee, Laura Szpot, was recognized by the Manufacturing Institute as one of the 2019 STEP Ahead Award honorees who exemplify leadership in Science, Technology, Engineering or Production. Laura was among honorees recently recognized by the Manufacturing Institute in Washington, D.C. The Manufacturing Institute is an authority on the attraction, […]
Nucor Corp. has acquired Century Tube LLC, a supplier of carbon tubing for automotive, mechanical and structural applications. Century Tube, based in Madison, Ind., offers round, square, rectangular, oval and other special welded shapes of mechanical steel tubing, and is a leader in supplying induction heat-treated tubes for automotive applications. The company has produced over […]
U.S. Steel Mon Valley is not producing pig iron due to an accident at their #1 Blast Furnace and the reline of the remaining furnace. According to U.S. Steel spokeswoman Meghan Cox, there was an issue with the top charging equipment in Blast Furnace #1 at the Edgar Thomson Plant. Sources told SMU that a […]
Sales of HVAC products remain fairly strong in most parts of the country, but prices don’t fully reflect that demand, reported members of the Heating, Air-conditioning and Refrigeration Distributors International in their monthly conference call. “I still think the market is fragile,” commented one HARDI member. “The mills have a lot of fundamentals in their […]
Residents near U.S. Steel’s Mon Valley Works are in an uproar over plans to allow New Mexico-based Merrion Oil & Gas to drill for natural gas in the Edgar Thomson Plant. U.S. Steel has leased 10 acres of land at the plant in Braddock, Pa., to Merrion Oil to construct three fracking wells that will […]
U.S. Steel has completed repairs to the desulfurizing equipment for the coke ovens at the Clairton Plant in Pennsylvania following a fire in December. A Christmas Eve blaze caused significant damage to the gas processing equipment, releasing sulfur dioxide emissions at nearly five times the allowed amount. Said the company in a statement April 4: […]