Category: Steel Product Producers

Algoma Steel's net loss narrowed in the fourth quarter vs. a year earlier amid economic uncertainty and tariff-related issues.

Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.

Cleveland-based Olympic Steel Inc. has promoted Scott M. Zito to the newly created role of vice president of business development. Zito has been with the company for more than 40 years.

Pacific Steel Group has broken ground on its Mojave Micro Mill in Southern California.

Nucor has increased its weekly HR coil spot price for seven consecutive weeks.

"We urge you to resist any requests for exceptions or exclusions and to continue standing strong on behalf of American steel," the companies wrote.

Cleveland-Cliffs Inc. has introduced a new employee incentive program to promote American-made vehicles, support domestic production, and strengthen US supply chains.

An inventory valuation of the assets of Altos Hornos de Mexico SA (AHMSA) has been completed. Local reports suggest an auction for the assets of the bankrupt steel company could come as soon as the end of this month.

AISI reported a 4.1% rise in US steel mill shipments from December to January.

Facing an uncertain tariff trade war, Algoma Steel took action this week, halting steel shipments to the US, laying off employees, and prepping for an unknown future, according to local media reports.

The company said 79 workers will be impacted.

Worthington Steel confirmed it is closing the Worthington Samuel Coil Processing (WSCP) facility in Cleveland. WSCP is a joint venture between Worthington Steel and Oakville, Ontario-based Samuel, Son & Co.

The investment firm seeking to oust U.S. Steel’s leadership has asked the steelmaker to schedule its annual shareholder meeting after June 18. That’s the deadline set by the US government for USS and Nippon Steel to unwind their nearly $15-billion merger deal. Ancora Holdings Group sent a letter dated Feb. 27 to board members of […]

"We experienced an event at the blast furnace which required a controlled shut down to facilitate repairs," a spokesperson said.

Global crude steel output rose 5% from December to January but still lagged last year.

The building in Braddock, Pa. that houses the basic oxygen process equipment suffered “minor damage” on Feb. 23, a spokesperson said.

One buyer summed up the prevailing sentiment: “Everything is pointing up — pricing, sentiment, order activity. But the real test will come once the immediate reactionary buying subsides. Will there be enough true demand to support these levels through mid-year? That’s the big unknown.”

"The second half of last year was especially bad with the steel demand from the automotive sector slowing down, construction activity lagging and industrial production taking a hit," the CEO said.

MPG Canada is laying off 140 workers across its facilities in Ontario and Quebec.

US steel mills produced an estimated 1,659,000 short tons (st) of raw steel last week, according to data recently released by the American Iron and Steel Institute (AISI).

Olympic Steel has seen jobs for line pipe jump in recent weeks as the Trump administration has talked up fossil fuel production, which is good news for hot-rolled coil producers. Meanwhile, tariff talk has lengthened lead times, Olympic executives said.

Brazilian long products producer Gerdau is now considering siting a 600,000 ton per year specialty steel plant in the United States, rather than Mexico as initially planned, in the wake of President Donald Trump’s imposition of 25% tariffs on steel imports into the US.

Ryerson swung to a loss in the fourth quarter, but has seen a turnaround in the last 30 days.

Reliance noted that it is about 95% domestically sourced.

Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]

Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.

BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.

Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]

Russel Metals said on Thursday that it doesn’t expect to be directly impacted by US tariffs on Canadian steel. The Mississauga, Ontario-based distributor made the comments in its quarterly earnings report on Thursday. The company doesn’t export significant volumes to the US, it said, and thus doesn’t expect to be directly impacted. However, “The primary […]

"The collaboration with these three companies will enhance AISI’s already significant engagement with members of Congress and the administration," the group's CEO said.