Category: Steel Product Producers

Automakers, construction, manufacturers raise concerns

Friedman swings to a loss in its fiscal third quarter of 2025.

Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."

The company’s plants had been shut since just before Christmas when the company locked out union workers during negotiations.

If 2021 and 2022 was the party, 2024 is the morning after, one panelist said.

"Personally, I find it very hard to believe that we would be in a trade war with Mexico and Canada for more than a few months at any given time. I don't know how Mexico and Canada could survive that. That's a recession for them. That's a few points off GDP for us - my opinion.”

Facing weak demand and an “unsustainably low” pricing environment, GrafTech International posted another quarterly loss to close out 2024.

AM/NS Calvert has begun commissioning its new electric-arc furnace, with plans to reach its full annual run rate of 1.65 million short tons a year from now.

There's a lot of production waiting to come online

U.S. Steel has idled its "B" Battery at its Clairton Coke Works near Pittsburgh following a “release of excess pressure” inside a section of the battery on Feb. 5.

ArcelorMittal announced on Thursday that it will begin the construction of its new $1.2-billion electrical steel mill in Alabama later this year. The steelmaker said it is proceeding with plans to build the new greenfield mill near its existing AM/NS joint venture in Calvert, Ala. The ArcelorMittal Calvert plant will have an annealing pickling line, […]

Domestic steel shipments increased month over month and year on year in December, according to the latest data from the American Iron and Steel Institute (AISI). US steel mills shipped 7,145,016 short tons (st) in December, up 0.9% from 7,082,921 st in December 2023 and 6.6% higher than 6,702,557 st in November 2024. For the full-year […]

The union says the suit is "a frivolous and unsubstantiated attack on our union simply for exercising our First Amendment rights."

The Vienna-based global refractory product provider said this is its most significant investment since RHI and Magnesita merged in 2017

The volume of raw steel produced by US mills slightly increased last week, according to American Iron and Steel Institute (AISI) data. Last week’s production rate represents the second-highest level recorded this year.

Together, Nippon Steel, Nippon Steel North America, and U.S. Steel announced the filing of their opening brief in their litigation to invalidate the government’s decision to block their announced merger. The brief lays out “how President Biden made a predetermined decision for political reasons, not national security, causing CFIUS to engage in a sham review […]

Muted demand from the auto industry took a particular toll later in the year.

AZZ Inc. recently announced it is shaking up the duties and roles of two executives involved in its Precoat Metals segment. Kurt Russell, Precoat’s current chief operating officer and former president, is moving into a senior vice president position within AZZ Inc. into the newly created role of chief strategic officer. “We are excited to […]

U.S. Steel’s losses widened in the fourth quarter on lower steel prices, weaker demand, and startup costs relating to the expansion of its Big River Steel EAF sheet mill in Arkansas. But the Pittsburgh-based steelmaker said it expected results to improve in 2025 as Big River 2 – the project to double capacity at the Osceola, Ark., mill - gains steam.

The projects collectively represent ~65% of Nucor’s capital expenditures budget for this year.

JSW Steel USA’s operations took earnings hits in the quarter ended Dec. 31. And Indian parent company JSW Steel believes potential tariff hikes by the Trump administration could hamper declining inflation in the US. JSW Steel USA operates the Mingo Junction slab and hot-rolled sheet mill in Ohio and the Baytown plate and pipe and […]

USMCA is option 1 but will cost more or not be big enough

But the Swedish steelmaker is optimistic about a rebound

Nucor Corp.’s chief executive didn’t shy away from discussing the company’s interest in potentially acquiring the electric-arc furnace assets of U.S. Steel on Tuesday. An analyst on an earnings conference call asked about Nucor’s appetite for M&A given its strong cash position – $4.1 billion at the end of 2024. Chair, President, and CEO Leon […]

“More needs to be done to ensure that these illegally dumped and subsidized imports do not continue to distort the American market in a road profitability," Nucor's CEO said.

Nucor’s raw material segment generated an annual profit of $57 million in 2024. This marked a swing to profit over 2023 when Nucor reported a $14-million loss for the segment. The Charlotte, N.C.-based company did not say in their earnings call on Tuesday what caused this increase besides a 20% increase in the production and […]

Nearly 20 years in the making, a new iron ore project on the Mesabi Iron Range in northern Minnesota is showing new signs of life. In an interview last week, Essar Group Director Prashant Ruia told India’s Business Standard newspaper that the company is finalizing an additional $650 million investment for a 7-million-metric-ton-per-year iron ore […]

Nucor Corp. posted sharply lower fourth quarter earnings on Monday driven in part by lower average selling prices at its steel mills. The Charlotte, N.C.-based steelmaker also warned that first-quarter results might not be much better in commentary released with earnings data. But Nucor said that it expected better times later in 2025. It also hinted at the possibility of ramped up trade restrictions – including more stringent Section 232 tariffs.

Ancora has nominated nine board members to U.S. Steel's 12-member board and seeks to install Alan Kestenbaum as CEO to replace David Burritt.

Olympic Steel Inc. has promoted Brant Harbert to general manager for the company’s three facilities in Bedford Heights and Dover, Ohio.