The American Institute for International Steel (AIIS), Eurometal, and the International Steel Trade Association have agreed to establish a global steel supply chain partnership. The purpose is outlined in a press release from AIIS below: The purpose of their agreement is to establish a Global Steel Supply Chain Partnership as a framework for collaboration among […]
The Association of Steel Distributors has announced its new slate of executive committee members for 2015. Brian Robbins, CEO of MidWest Materials, Inc., Perry, Ohio, will continue as president of ASD. Robbins has been an active member of the ASD Board of Directors since 2004. “I am honored to be chosen to lead an organization […]
The China Iron and Steel Association (CISA) says steel consumption in China will fall approximately 6 percent this year. The forecast is lower than was predicted by the Australia and New Zealand Banking Group (ANZ) which anticipates consumption to fall 4 percent this year, followed by 2 percent in 2016. Wang Liqun, vice chairman of […]
Architecture billings took a sharp dive in April. The Architecture Billings Index dropped for the second time this year to a score of 48.8 from 51.7 in March, indicating a decrease in design services. (A score above 50 indicates an increase in billings). The new projects inquiry index was 60.1 up from 58.2 the previous […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and The Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a forecast to the HARDI members located in the United […]
AK Steel received the “Deal Maker of the Year” award from the Association for Corporate Growth for its $690 million acquisition of Severstal Dearborn LLC. The annual ACG award recognizes individuals and corporations for their pursuit of corporate growth via mergers and acquisitions along with efforts that drive continued growth and vitality of the region’s […]
Steel Market Update is a member of an association connected to the construction industry called HARDI. HARDI stands for Heating, Air-conditioning & Refrigeration Distributors International. HARDI and the Institute for Trend Research (ITR), an economic forecasting company, work together to gather economic data to provide a quarterly forecast to the HARDI members located in the […]
An electrical fire Friday at ArcelorMittal Weirton in West Virginia sent eight employees to the hospital. A transformer at the Weirton strip steel operation malfunctioned causing adjacent electrical equipment to catch fire said ArcelorMittal spokesperson Mary Beth Holford. The fire was extinguished quickly and employees working the area were evacuated as a precaution. Several employees […]
Business conditions improved for New York manufacturers in May but optimism faltered for future conditions. The May 2015 Empire State Manufacturing Survey general business index climbed four points to 3.1, indicating a slight improvement for the month but below forecasts by economists. The new orders index was in positive territory for the first time since […]
Another 285 workers were laid off at US Steel’s Gary Works. US Steel spokesperson Courtney Boone attributes “challenging market conditions that are impacting the company” for the latest layoffs. US Steel laid off 270 workers three weeks ago but recalled 52 of them last week. On Friday, 57 salaried managers were dismissed, bringing the total […]
The European Commission has begun an anti-dumping investigation on imports of cold rolled coils from China and Russia. Eurofer, the EU steel association, lodged a complaint on April 1, 2015 on behalf of EU steel producers of CRC. According to the EU Official Journal, Eurofer presented evidence “alleging that imports of certain cold-rolled flat steel […]
MID-SHIP continues to report concerns over weak demand in the dry cargo market coupled with over-supply of ships. The drop in shipping to and from China has pushed freight rates to their lowest levels since the mid 1980s according to the May 12 MID-SHIP Report. The Baltic Dry Index (BDI) was at a low of […]
Metalforming companies are expecting softer business conditions during the next three months according to the May 2015 Precision Metalforming Association (PMA) Business Conditions Report. More participants surveyed thought economic conditions would remain the same (60 percent up from 58 percent) or decline (16 percent compared to 9 percent in April). Incoming orders are expected to […]
After remaining at 1.7 percent since January, Atlanta area firms surveyed in May are now expecting inflation to rise at a 1.9 percent rate in the coming year. Compared to this time last year unit costs are up 1.6 percent. The Business Inflation Survey conducted by the Federal Reserve Bank of Atlanta is monthly survey […]
ArcelorMittal’s NAFTA segment, and in particular the US, saw a collapse in steel prices in first quarter. High levels of imports, a strengthening dollar, and a weak energy segment created significant headwinds for the company that are expected to continue in 2015. CFO Aditya Mittal hinted in the earnings conference call that cuts may be […]
Ryerson Holding Company, a processor and distributor of metals, announced the appointment of Edward J. Lehner as President and Chief Executive Officer. Lehner will succeed Michael C. Arnold who will retire at the end of May. Lehner has served as executive vice president and chief financial officer for Ryerson since 2012. Prior to joining Ryerson, […]
Gibraltar Industries, a leading manufacturer and distributor of products for building markets, saw revenues decrease in Q1 2015 in the industrial and infrastructure product segments. Low oil prices have dampened spending in the oil and gas markets and the strong US dollar has impacted order rates and revenues. Historically, approximately 25-20 percent of revenues for […]
The Dodge Momentum Index rose a slight 0.8 percent in April to a reading of 122.6, according to Dodge Data & Analytics. Construction planning activity has been up and down in early 2015 but is higher than a year ago. In comparison, the April Index is 8.5 percent higher than April 2014. Planning for the […]
Iron ore was the topic for keynote speaker Lourenco Goncalves at the AISTech 2015 Presidents Award Breakfast in Cleveland on May 5. Goncalves, chairman, president and chief executive officer of Cliffs Natural Resources, received the AIST William T. Hogan, S.J. Lecture Award in recognition of individual outstanding leadership to the iron and steel industry. Goncalves […]
ArcelorMittal reported a net loss of $728 million in first quarter 2015 compared to a loss of $955 million in fourth quarter 2014. EBITDA was $1.4 billion. Steel shipments were up 3 percent year over year to 21.6 million tonnes. Iron ore shipments rose 5 percent to 9.4 million tonnes. Total sales for the company […]
Klöckner & Co SE EBITDA was heavily impacted by the sharp price declines in the U.S. EBITDA of €10 million ($11.2 million) was reported down from €45 million ($50.7 million) in Q1 2014 Shipments for Kloeckner Metals (the Americas segment) were up 0.6 percent y/y to 682,000 tonnes (751,763 tons). US shipments were up by […]
The 2015 Association for Iron and Steel Technology Steelmaker of the Year Award was presented to Mario Longhi, president and chief executive officer of U.S. Steel Corp. at the AISTech 2015 conference in Cleveland, Ohio on May 5, 2015. The award recognizes the contributions of a prominent individual to the steel industry. Longhi was honored […]
CHICAGO, IL, May 6, 2015 – The Steel Tube Institute (STI) has announced the retirement of Executive Director Bill Wolfe after 13 years serving as head of the industry trade association. Joseph Anderson, who was named Hollow Structural Sections (HSS) Director last April, has been chosen as STI’s new Executive Director. Wolfe leaves behind a […]
Nucor, SSAB, and ArcelorMittal USA have petitioned the Department of Commerce to overturn a suspension trade deal that excuses Russian producers of cut-to-length (CTL) steel plate from paying import duties. The three steel mills said increasing exports of low-priced CTL steel plate to the U.S. is injuring the domestic industry. A suspension agreement signed in […]
Steel buyers in the April ISM Steel Buyers Survey are expecting general economic activity to remain the same during the next six months but were more optimistic regarding sales and production in their specific industry. Forty percent of buyers expect the trend for sales and production to improve, compared to 30 percent in March. Fifty […]
Magnetation, an iron ore concentrate and pellet producer, announced it will file for Chapter 11 bankruptcy protection while it undergoes reorganization. The company has received a commitment for $135 million in debtor-in-possession financing from certain holders of Senior Secured Notes that will support the business while it reorganizes. Magnetation said it will continue to pay […]
Global manufacturing fell to a 21 month low in April according to the JP Morgan Global Manufacturing PMI. The composite index registered 51.0, down from 51.7 in March. “The April PMI shows a loss of momentum in global factory output in April, with production and new orders both decelerating,” commented Joseph Lupton, Senior Economist at […]
US automotive sales finished April at a seasonally adjusted annual rate of 16.4 million. Sales were slightly below expectations but still the highest April sales level since 2006. Sales volume for the month was at 1.448 million units, according to WardsAuto, a gain of 4.9 percent y/y. Light trucks and CUVs continued to lead sales […]
On May 1, Nucor Corp. and SSAB Americas filed a joint request asking the Department of Commerce to find that Chinese producers of cut-to-length (CTL) steel plate are circumventing the antidumping order on CTL plate from China. According to documents submitted to the DOC, Chinese plate producers are adding small amounts of alloys, such as […]
Olympic Steel navigated through falling metal prices for a first quarter net income of $1.1 million. Income was down from $2.8 million in Q1 2014, but better than anticipated by analysts due to higher revenue of $346 million, stronger than expected gross margin (19.1 percent) and lower operating expenses. In the carbon flat products segment, […]