Commercial Metals Co. posted solid results for its fiscal fourth quarter ended Aug. 31, helping make the company’s fiscal year 2022 the best financial performance in its 107-year history. CMC’s North American segment saw strong demand for it finished long products during the quarter, as well as meaningful increases in downstream bid volumes. Destocking activity […]
The US Department of Commerce has updated the antidumping duty rate on imports of carbon and alloy cut-to-length plate from South Korea’s Posco. Having looked at the one-year period ended April 30, 2021, Commerce set a final weighted-average dumping margin of 2.59% for POSCO, according to a Federal Register filing. The final rate was slightly […]
H2 Green Steel (H2GS) is partnering with Midrex Technologies for its new direct reduced iron (DRI) facility in northern Sweden. Using Midrex’s technology, H2GS’s 2.1-million-metric-tons-per-year facility will run on 100% green hydrogen. Paul Wurth, an SMS group company, will also provide technology and equipment for the first-of-its-kind DRI plant. “We started working together almost two […]
Independent hot-dip galvanizer and coil coater AZZ Inc. achieved record sales in the second quarter (ended Aug. 31) of its fiscal 2023 year. The quarter was the first to include results from Precoat Metals, whose acquisition was completed in May of this year. Total Q2 sales reached $406.7 million. This includes record sales of $165.8 […]
Flat-rolled steel processor JM Steel Corp. is expanding into Georgia with the acquisition of Five Star Roll Form LLC and Sun States Steel Corp. Financial terms of the deals were not disclosed. Five Star is a fabricator serving the trailer, garage door, roofing, and solar industries. Sun States Steel is a flat-rolled steel distributor. Both […]
Service center behemoth Reliance Steel & Aluminum Co. will have a new leader come the start of 2023. Current CEO James D. Hoffman will step down from his position at the end of this year, allowing current company president Karla Lewis to step up and serve as both president and CEO, effective Jan. 1, 2023. […]
Cleveland-Cliffs Inc. is disputing the US International Trade Commission’s recent decision to allow antidumping and countervailing duties on cold-rolled steel flat products from Brazil to expire. In July, the ITC completed five-year sunset reviews of the AD and CVDs on cold-rolled imports. While the agency decided that the duties should remain in place for China, […]
The US Department of Commerce has released preliminary dumping and subsidy margins in the latest administrative review of the duties on cold-rolled steel flat product imports from South Korea. In the antidumping duty review, which is looking at the one-year period ended Aug. 31, 2021, Commerce determined preliminary dumping margins of 0% for Hyundai Steel, […]
Supported by high finished steel and scrap prices, Schnitzer Steel Industries Inc. expects its results for full-year fiscal 2022 to be the second best in the company’s history. This week, the Portland, Ore.-based scrap recycler and long steel producer announced its preliminary results for the fourth quarter and fiscal year ended Aug. 31, 2022. Although […]
Zekelman Industries is closing its Long Beach, Calif., steel conduit manufacturing facility, pointing its finger at imports from Mexico as a major reason for the closure. The Long Beach facility, which employed 145 workers represented by the United Autoworkers union, manufactured steel conduit under the Western Tube and Wheatland Tube brand names. The Chicago-based company […]
Stainless steel sheet and strip imports from China will continue to be subject to antidumping and countervailing duties for at least another five years. This comes as a result of the US International Trade Commission’s final vote in a sunset review of the duties. The agency voted that revoking the current duties would likely lead to […]
Tube producer Webco Industries says it has successfully been able to pass on higher costs to its customers in the form of higher prices, allowing it to increase sales in its 2022 fiscal year fourth quarter ended July 31, 2022. During the quarter, Webco experienced volatility in the price of its raw materials including carbon […]
Bull Moose Tube Co. (BMT) is nearing completion of its new, 350,000-tons-per-year welded tube mill on the campus of Steel Dynamics Inc.’s new sheet mill in Sinton, Texas. The new hollow structural sections (HSS) and sprinkler pipe mill, Bull Moose’s eighth facility, will allow the company to expand, grow, and increase its total operational capabilities […]
The US Department of Commerce’s International Trade Administration is giving interested parties the opportunity to request administrative reviews of antidumping and countervailing duties on certain imports. The reviews look at imports during certain periods of reviews to determine if the duties should be adjusted. Interested parties currently have the opportunity request reviews of duties on […]
US Steel’s Big River Steel Works in Osceola, Ark., will be able to further utilize solar energy as early as 2024, allowing the company to reduce its environmental footprint even more. The Entergy Arkansas Driver Solar Project has been approved by the Arkansas Public Service Commission. The project will be located on 2,100 acres adjacent […]
The US Department of Commerce has slightly adjusted Hyundai Steel’s countervailing duty (CVD) on its shipments of hot-rolled steel flats to the US. The adjustment comes after Hyundai challenged Commerce’s results of the 2017 administrative review of the duties at the US Court of International Trade (CIT). The CIT agreed with Hyundai that Commerce had […]
Steel service center Willbanks Metals Inc. is expanding in Fort Worth, Texas. The company recently purchased property across the street from the current location of its headquarters and flat-rolled steel sheet and plate service center, allowing it to expand with a new Red Bud stretcher leveler and additional processing equipment. “We are thrilled to continue […]
Antidumping and countervailing duties on aluminum extrusions from China will remain in place for another five years. In the final results of the expedited sunset review of the duties, the US International Trade Commission voted unanimously that removing the duties would be likely to lead to the continuation or recurrence of material injury to the […]
With a total investment of $150 million Canadian (US$109.9 million), Tenaris recently consolidated its seamless and welded pipe manufacturing operations in Canada into one location in Sault Ste. Marie, Ontario, to better serve the country’s energy sector. An inauguration ceremony with company executives, customers, employees, and government officials was held on Sept. 27 to mark […]
The Hamilton, Ohio-based Matandy steel and metal companies are now 100% employee owned. The prior owners of 35 years, Frank and Joanne Pfirman, recently converted the company to an employee stock option plan, surprising its 110 employees on Sept. 28 with the announcement. “I knew if we were to sell to a competitor or venture […]
JFE Shoji continues to invest and expand in North America. JFE Shoji Power Canada Inc. announced it will invest $20 million over the next 18 months to expand production of electrical transformer cores for use in oil-filled distribution and larger power transformer markets. This will increase its use of electrical steel, a product which is […]
A new spiralweld pipe mill has officially opened its doors in Houston. The JDF/HDM mill, a partnership between Houston-based JD Fields and Turkish pipe piling manufacturer HDM Çelik Boru Sanayi ve Ticaret AŞ, has been rolling pipe successfully for two months now. An official ribbon cutting ceremony was held on Wednesday, Sept. 28, to celebrate […]
Worthington Industries announced it will be splitting off its steel business and creating two separate, publicly traded businesses. Worthington’s Steel Processing business segment will become the independent Worthington Steel, with an aim to be a processor with expanded offerings in electrical steel laminations and automotive lightweighting solutions. Worthington’s current chief operating officer, Geoff Gilmore, will serve as the […]
The US Department of Commerce has issued its final determinations in the trade case investigating the dumping of OCTG imports from Mexico, Argentina, and Russia, and the subsidization of OCTG from Russia and South Korea. The investigations include both welded and seamless OCTG. Antidumping Case In the final results of the case investigating Mexico, Commerce […]
Steel sheet processor Steel Technologies LLC is expanding its campus in Decatur, Ala., to produce steel blanks to be used in the automotive, agricultural, and consumer goods markets. The initial expansion plan has already secured a commitment for approximately 50,000 tons of coil and blank processing, according to a LinkedIn post from the company. A […]
Demand for galvanized sheet is strong or softening, depending on where you’re located, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council. And with pricing bouncing along somewhat steadily in recent weeks, most members are not expecting any big swings in galvanized pricing in the coming months. In […]
Canadian flat-rolled steelmaker Algoma Steel Inc. expects results for its fiscal 2023 second quarter to be down significantly compared to prior quarters because of operational challenges, declining shipments, and lower prices. In its latest earnings guidance, the Sault St. Marie, Ontario-based company said it expects fiscal ’23 Q2 adjusted earnings before interest, taxes, depreciation, and […]
Tensions continue to escalate between US Steel and the United Steelworkers (USW) union as the two sides remain far apart on reaching a new labor agreement. On Sept. 26, the Pittsburgh-based steelmaker went so far as to file an unfair labor practice complaint with the National Labor Relations Board against the USW. “We have continued […]
Shipments of iron and steel, coke, and scrap metal on the St. Lawrence Seaway System were robust in the first eight months of this year, according to the latest figures released by the Great Lakes Seaway Partnership. Steel shipments on the Seaway were up 3.92% from the same period of 2021, reaching 1.282 million metric […]
Ford Motor Co. has broken ground on a new, $5.6 billion auto production complex in Stanton, Tenn., where it plans to build all-new electric trucks and advanced batteries. The groundbreaking comes less than a year after the Dearborn, Mich.-based automaker and SK On, a Seoul-based battery technology company, announced the investment. A mega campus of […]