Category: Steel Product Producers

ArcelorMittal posted a narrower Q1’24 profit compared to Q1’23 but remained optimistic about steel's long-term demand prospects.

Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.

Russel Metals’ earnings fell in the first quarter, but the Toronto-based metals distributor sees steel prices stabilizing in the near term and staying above historical averages.

Ryerson swung to a loss in the first quarter of 2024, but the company’s chief executive sees less volatility in the sheet steel market.

Solar tracker maker Nextracker and steel processor JM Steel announced the completion of an expansion of Nextracker-dedicated manufacturing lines at JM’s Leetsdale steel facility near Pittsburgh.

Nucor lowered its weekly base spot price for hot-rolled (HR) coil by $10 per short ton (st) this week.

Cleveland-Cliffs Inc. would still be interested in acquiring some or all of U.S. Steel’s assets, if the proposed deal by Nippon Steel stumbles, according to an article in Bloomberg.

Reliance Inc.’s earnings slumped in the first quarter of 2024, but the company expects better than normal seasonal recovery in demand in the second quarter.

Destocking at service centers and a downturn in steel pricing impacted Ternium’s shipments in Mexico in the first quarter of the year.

Algoma Steel Inc. expects to wrap up a previously announced outage on its plate mill by the end of this month, a company spokeswoman said. The outage is part of the Canadian flat-rolled steelmaker’s $130 million CAD ($95 million USD) modernization project. It began in mid-April.

Steel Dynamics Inc. (SDI) executives said the company's Sinton, Texas, sheet mill should be able to increase melt capacity after an outage earlier this month. Sinton should see "additional improvements in production" after taking "several maintenance days in April," Barry Schneider, SDI president and COO, said in a Q1 earnings conference call on Wednesday.

Lower demand and prices for steel plate impacted SSAB Americas’ results in the first quarter, Swedish parent company SSAB said in its Q1'24 interim report.

Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.

With strength in the sector and customers needing the product it produces, Cleveland-Cliffs’ chief executive says the company will be more selective with the automotive customers it chooses to serve.

Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.

Nucor executives explained their recently introduced hot-rolled (HR) coil consumer spot price (CSP) is a way to serve their customers and deal with market volatility.

Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]

Global steel output jumped 8.3% in March, according to World Steel Association’s (worldsteel's) latest release. Production is now at the highest level seen in 10 months, rebounding from a near six-year low observed just three months prior.

Cleveland-Cliffs’ chief Lourenco Goncalves and US Secretary of Energy Jennifer Granholm stressed the importance of the US steel industry and domestic manufacturing at Cliffs' Butler Works in Pennsylvania on Monday.

Lapham-Hickey Steel has acquired the operating assets of Crystal Steel Corporation of Middleton, Mass., for an undisclosed sum.

Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.

Domestic raw steel production slipped last week and now stands at a four-week low, according to the American Iron and Steel Institute (AISI).

Cleveland-Cliffs Inc. continued to lose money in the first quarter, with the steelmaker blaming the loss in part on the idling of its tinplate facility in Weirton, W.Va.

ArcelorMittal plans to build a new electrical steel manufacturing facility near its AM/NS Calvert joint-venture mill in Alabama.

AZZ Inc. said it is seeing improving demand for its coil coating services as it reported a solid quarterly performance.

After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]

Nucor has appointed Nicole B. Theophilus to the newly created position of EVP of talent and human resources, effective April 29.

Metalformers expect economic activity to remain level over the next three months, according to the April Business Conditions Report from the Precision Metalforming Association (PMA).

Russel Metals Inc.’s planned purchase of seven service centers in western Canada from Samuel, Son & Co. has been delayed.

Steel industry veteran Mark Bush announced he will be joining AM/NS Calvert as area manager steelmaking.