U.S. Steel has named Daniel R. Brown as Senior Vice President of Advanced Technology Steelmaking and Chief Operating Officer of its Big River Steel Works. Brown, who held the position of vice president at BRS, will not only lead the flat rolled steel production presently in place at BRS, but also the new minimill in Osceola, Ark., […]
Steel Dynamics Inc. (SDI) has closed its acquisition of a 45% stake in New Process Steel LP, a manufacturer and distributor that is also the company’s largest flat-rolled steel customer. The Fort Wayne, Ind.-based steelmaker announced the deal in mid-October. Terms were not disclosed. “This minority equity interest enables us to expand our exposure to […]
Nucor Corp. today announced plans to invest $290 million to upgrade its Crawfordsville, Ind., steel sheet mill. The Charlotte, N.C.-based steelmaker will expand the mill’s product capabilities by adding a 300,000 tons per year (tpy) construction-grade continuous galvanizing line and a 250,000 tpy prepaint line, the company said. The project, which company executives alluded to during […]
The North American operations of Evraz produced 1.88 million metric tons in 2021, an 18.9% improvement over 2020 despite some falloff near the end of the year, the company said in its Jan. 31 trading update. The Russia-based steelmaker reported fourth-quarter 2021 production of 480,000 metric tons in North America, a 2.2% decline from the […]
U.S. Steel isn’t letting current lower prices get it down after a record year in ’21 and in anticipation of more good times rolling into ‘22. The Pittsburgh-based steelmaker said it had expected the first quarter would be weaker but that such weakness would to be temporary. “Supply chain issues will ease, inflationary pressures will […]
Swedish steelmaker SSAB saw its best full-year earnings in company history in 2021 with all divisions posting record results thanks to high steel prices, the company said. SSAB Americas’ revenue was $6.153 billion Swedish krona ($650 million USD) in the fourth quarter of 2021, up 78% compared to the same year-ago quarter thanks to higher steel […]
U.S. Steel joined competitors Nucor Corp. and Steel Dynamics Inc. (SDI) in posting record annual profits. But the Pittsburgh-based steelmaker’s fourth-quarter net earnings were significantly lower than those in the third quarter. U.S. Steel recorded net earnings of $1.07 billion in the final quarter of 2021, down 46.5% from $2.00 billion in the third quarter […]
Nucor Corp. crushed annual profit records in 2021 and posted yet another quarterly profit record in the fourth quarter. The trend continues a 2021 pattern among domestic steelmakers of each quarter setting a record compared to that set in the prior quarter. All told, the Charlotte, N.C.-based steelmaker posted an annual profit of $6.83 billion […]
Calling 2021 “the safest and most profitable year in the company’s history,” Nucor executives sounded “a consistent drumbeat on demand” in their outlook for 2022 during their fourth-quarter conference call with analysts and investors today. The Charlotte, N.C.-based steelmaker posted record earnings of $6.83 billion in 2021 on sales of $36.5 billion. Sixteen of its […]
Nucor Corp. has announced that plate prices are unchanged for the second month in a row. The Charlotte, N.C.-based steelmaker announced the “$0/per ton change” with the opening of its March order book for plate. The result: Nucor’s base price for cut-to-length A36 plate remains at $1,815 per ton ($90.75/cwt) ex works. The company’s price […]
Steel Dynamics Inc. (SDI) expects that its new electric-arc furnace sheet mill in Sinton, Texas, will reach a run rate close to its rated capacity in the second half of the year, the company’s top executive said. “We are anticipating the final piece of the jigsaw to be put in place here in the next […]
The ongoing correction in steel prices is not a reflection of demand, which is strong now and is expected to remain so for the balance of 2022, Steel Dynamics Inc. (SDI) executives said. Hot-rolled coil prices are roughly in line with published price ranges of $1,300-1,400 per ton ($65-70 per cwt), although a limited number […]
Steel Dynamics Inc. (SDI) posted record fourth-quarter earnings to finish a year of unprecedented profitability for domestic steel mills. And the Fort Wayne, Ind.-based steelmaker predicted that it would benefit from increased steel consumption in 2022 compared to 2021 levels. The company did not directly address a steep drop in prices that occurred in the […]
JSW Steel (USA) Inc., the U.S. subsidiary of Indian steelmaker JSW Steel Ltd., reported pretax earnings of more than $55 million in its third quarter of fiscal 2022 ended Dec. 31, 2021, outperforming year-ago results. JSW Steel’s EAF sheet mill in Mingo Junction, Ohio, reported third-quarter earnings of $42.12 million on sales of 92,557 net tons of hot […]
NLMK USA sales slipped in the fourth quarter on expectations of lower steel prices driving buyers to the sidelines. It was not only lower consumer activity that pushed NLMK USA sales volumes and prices lower, so too did the tariff-rate quota (TRQ) agreement with the European Union – which is expected to result in additional […]
U.S. metals distributor and service center Olympic Steel Inc. promoted David Gea as president of its Carbon Flat Rolled Division. Gea joined Olympic Steel in 2002 and has progressed through roles of increasing commercial and leadership responsibility, the company said, including most recently serving as regional VP for Olympic’s carbon flat rolled business in the […]
Among the attributes of the new, advanced minimill U.S. Steel plans to build in Osceola, Ark., next to its Big River Steel plant, is endless casting and rolling technology that will make the facility the first of its kind in the United States. What is endless casting and rolling, and what competitive advantages will it […]
Steel Dynamics Inc. (SDI) has commissioned the hot strip mill at its $1.9 billion steelmaking complex in Sinton, Texas, the company’s top executive said. “Both coating lines are running well. The hot strip mill has been commissioned using purchased slabs. The last component is the caster, which is in the home stretch,” SDI President and […]
Distributors who sell galvanized steel products to the construction and HVAC sectors are counting on demand remaining healthy this year to get them through a difficult period of inventory adjustments amid sharply declining steel prices. “One positive, demand is still pretty strong. We’re coming off heights we’ve never seen before,” said one member of the […]
U.S. Steel is mulling a sale of its USS-UPI LLC subsidiary in Pittsburg, Calif. – potentially to a developer without long-term interest in running the mill, according to market participants. Some employees have been told that the mill could stop operating in late 2023, they said. Nothing has been officially announced, none will be until […]
Evraz North America has taken an approximately one-week unplanned outage at its plate mill in Portland, Ore., market participants said. The downtime was needed because of problems with a reheat furnace, they said. The steelmaker has also scheduled a weeklong planned outage at the Portland plate mill in March, sources said. A company spokeswoman confirmed that […]
Nucor Corp. has confirmed that its greenfield, $2.7 billion electric arc furnace (EAF) sheet mill will be built in West Virginia. The Charlotte, N.C.-based steelmaker said the mill, expected to have capacity of three million tons per year, would be located in Mason County along the Ohio River. Additional sites in northern West Virginia are […]
U.S. Steel will invest $3 billion in a new state-of-the-art minimill in Osceola, Ark., near its Big River Steel plant. This new minimill will combine two electric arc furnaces (EAFs) with 3 million tons per year of advanced steelmaking and finishing capabilities, highlighted by the first endless casting and rolling facility in the U.S. Construction […]
West Virginia is on the cusp of announcing that it has been chosen for the site of Nucor Corp.’s new, $2.7 billion electric arc furnace (EAF) sheet mill, according to local media reports. The Charlotte, N.C.-based steelmaker said when it announced the project last September that it was considering locations in three states: Ohio, Pennsylvania […]
Commercial Metals Co. (CMC) plans to build a “micro mill” to better serve markets in the Northeast, Mid-Atlantic and Midwest. “The new micro mill will fortify our position in the large construction markets within the region and optimize CMC’s existing Eastern U.S. operational footprint,” CMC Chairman, President and CEO Barbara Smith said. The new mill […]
Commercial Metals Company (CMC) reported yet another record-breaking earnings result. The Irving, Texas-based steelmaker posted net earnings from continuing operations of $232.9 million on net sales of $2.0 billion in the first quarter of fiscal 2022 ended Nov. 30, 2021, besting the previous record set the prior quarter by more than $80 million. “Our record […]
Algoma Steel Group Inc. said it expects its third-quarter fiscal 2022 financial results to align with its previous guidance despite lower-than-expected steel shipments for the quarter. The Sault Ste. Marie, Ontario-based steelmaker shipped roughly 550,000 net tons of steel in the third quarter of fiscal 2022 ended Dec. 30, 2021, below prior guidance of 590,000 […]
U.S. Steel plans to take a nearly month-long maintenance outage in March on the B blast furnace at its Granite City Works near St. Louis, a company spokeswoman confirmed. The Pittsburgh-based steelmaker is targeting March 3-28 for the planned outage, she said. “We do not anticipate customer impact,” the spokeswoman added. Planned outages typically don’t […]
Steel Dynamics Inc. (SDI) has started up the hot end of its $1.9 billion steel mill in Sinton, Texas, according to sources familiar with the matter. The Fort Wayne, Ind.-based steelmaker has melted a limited number of heats and rolled a limited number of coils – standard practice for a new mill, they said. SDI […]
Stelco Holdings Inc. said its fourth-quarter steel shipments were negatively impacted by production challenges and unplanned outages. The Hamilton, Ontario-based steelmaker shipped roughly 625,000 net tons of steel in the fourth quarter of 2021, below prior guidance of 675,000 to 680,000 net tons. Shipments in the fourth quarter were lower than expected due to various […]