Steel Dynamics Inc. executives provided further insight into operations at the company’s Sinton, Texas, flat-rolled steel mill on a second-quarter earnings conference call on Thursday morning. Despite a series of start-up woes, the company recently commissioned two new coating lines there, and the mill continues to ramp up production. The execs were also bullish on […]
Growth in the US economy continues to be constrained. The Federal Reserve’s Beige Book report for July shows more areas reporting flat or declining economic activity than in its previous report at the end of May.
Cleveland-Cliffs has been pursuing M&A opportunities for some time now and thinks it has found a solid partner with aligned interests in Stelco. The companies announced on Monday that Cliffs would acquire the integrated Canadian steelmaker. That same day, Cliffs held a conference call with analysts to discuss the acquisition. Lourenco Goncalves, Cliffs’ chairman, president, […]
Cleveland-Cliffs Inc. has agreed to purchase Canada’s Stelco Holdings Inc. in a deal valued at $2.5 billion (CA$3.4 billion).
Two veteran investment bankers joined SMU's Community Chat on Wednesday, July 10, to talk consolidation and M&A in the metals industry.
The local mining union has rejected a proposal to end the labor strike at ArcelorMittal Mexico’s Lazaro Cardenas mill and Las Truchas mine in Michoacán, Mexico.
Longs producer and metal recycler CMC plans to open a new rebar fabrication plant in Akron, Ohio.
The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.
US steel imports registered a steep decline from May, with June licenses falling to the lowest monthly level so far this year.
Flood-level waters have prompted the US Army Corps of Engineers (USACE) to close locks on the Mississippi River.
Radius Recycling continued to bleed red in its most recent quarterly report as it negotiated persistently challenging conditions in the recycled metals market.
Stellantis announced temporary layoffs at its Warren Truck Assembly Plant in Michigan and its Toledo South Assembly Complex in Ohio. The Netherlands-based automaker is adjusting the operating schedule at the plants to better align production with sales, a spokesperson told SMU in an email.
Antidumping and countervailing duties (AD/CVDs), in place for more than twenty years on imports of hot-rolled (HR) steel from six countries, are up for their fourth sunset review.
Novolipetsk Steel’s (NLMK) mill in Lipetsk, Russia, was the target of a raid by Ukrainian drones on Sunday, according to a Reuters report.
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
U.S. Steel and Nippon Steel explained their position on USS’ participation in US trade cases should their proposed nearly $15-billion merger deal go through. The companies hope to close the deal by the end of the year.
Bull Moose Tube Co. (BMT) announced Jim Fink as its new chief operating officer.
Worthington Steel’s earnings slipped in its fiscal fourth quarter while sales ticked up.
A press conference at a Cleveland-Cliffs mill in Ohio touched upon several topics, including the unfair trade practices of Mexico and China and Nippon Steel’s proposed acquisition of U.S. Steel.
Nucor plans to add a new rebar fabrication facility adjacent to its new micro-mill in North Carolina.
Uncertainty surrounding demand, the US presidential election, tariffs, and taxes is weighing on North American metalforming companies.
A cyberattack on CDK Global has shut down the systems at automotive dealerships and slowed down sales across the US.
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
ArcelorMittal Mexico said it's on the brink of severing labor relations with striking members of the local mining union. This serious move comes as an illegal strike and the resulting mill outage persist into their second month, posing a significant threat to the continuation of the mill’s operations.
Nucor's weekly hot-rolled (HR) coil price registered a notable decline this week.
Summer has officially begun, and the countdown to SMU Steel Summit is on. More than 800 steel industry professionals from nearly 350 companies have already registered to attend the Summit on Aug. 26-28 at the Georgia International Convention Center (GICC) in Atlanta. Are you one of them? If so, we’re looking forward to seeing you […]
Algoma Steel’s quarterly and full-year results took a hit from an unplanned blast furnace outage earlier this year. However, with a modernized plate mill and two new EAFs slated to come online by the end of this year, the Canadian flat-rolled steel producer is looking to a greener future.
CMC reported solid demand and a healthy start to the construction season in its latest quarterly earnings statement.
Mill Steel Co. announced several executive appointments as it works to transform the organization.
Flack Global Metals (FGM) is set to take majority ownership of Pacesetter Steel Service.