Reliance Steel & Aluminum Co. announced on Tuesday the purchased of Fox Metals and Alloys, Inc. for an undisclosed sum. Fox Metals, based in Houston, Texas, is a steel distributor specializing in alloy, carbon and stainless steel bar and plate products, primarily servicing OEMs and machine shops supporting the oil, gas and petrochemical industries. “The […]
Manufacturing expansion slowed around the globe in November. The JP Morgan Global Manufacturing PMI dropped to 51.8 indicating the slowest pace of growth in 15 months. New order growth posted a 16 month low as international trade languished. Commenting on the survey, David Hensley, Director of Global Economics Coordination at JPMorgan, said: “The global manufacturing […]
The U.S. International Trade Commission (USITC) determined on Wednesday that there is reasonable indication that the US steel industry is materially injured by import of welded line pipe from Korea and Turkey. The affirmative vote means the countervailing and antidumping investigation will proceed with a preliminary CV determination due on or about January 9, 2015, […]
Big River Steel has asked a federal court to block the Clean Air Act challenge mounted by Nucor last August. In a court filing on Friday, Big River Steel said the challenge is a “collateral attack” by Nucor. Big River Steel received the necessary permits from the Arkansas Department of Environmental Quality (AEDQ) to build […]
ArcelorMittal and Italian steel processor Marcegaglia have submitted a non-binding, 30-day deadline offer for troubled Italian steel plant Ilva. Ilva, a privately owned company by Riva Steel, has been under special administration since last year after a court order temporarily shut down a portion of the plant for environmental violations. Toxic factory emissions were found […]
The Chicago Business Barometer dropped 5.4 points to 60.8 in November, wiping out October’s sharp increase, and moving closer to September’s level of 60.5. Manufacturing growth continues but at a slower pace. New orders slid 11.7 points to 61.9 following a one year high in October. Overall, barring an unexpected December decline, orders should be […]
Mexican steel producer Altos Homos de Mexico SA (AHMSA) reported steel shipments of 361,939 tonnes (398,962 tons) in October. Shipments reached a new high due to increased production from expansion at Monclova. Annual production capacity has been boosted to 5.5 million tons from 4.75 million tons (6.06 million tons and 5.23 million tons, respectively). The […]
US Steel announced on Monday it will build a new corporate headquarters at the former Civic Arena site in Pittsburgh’s lower Hill District. The new headquarters is part of US Steel’s Carnegie Way and is expected to provide significant cost savings by housing employees from a number of locations under one roof. “As we continue […]
The Sparrows Point blast furnace is scheduled for demolition sometime within the next few days or weeks, according to Sparrows Point Terminal LLC, the current owners of the site. Officials said the 320-foot tall L blast furnace will be imploded by Controlled Demolition Inc on a weekday in December. The furnace from the former Bethlehem […]
Once the site of the largest steel mill in North America, Sparrows Point is being demolished piece by piece. The former Bethlehem Steel plant was put into bankruptcy by its last steel owner, RG Steel and the new owners have sold off the equipment and the buildings have been scrapped. The last major structure left […]
Manufacturing activity in the Philadelphia area took a huge jump in November. The headline Index for the Philadelphia Manufacturing Business Outlook survey gained more than 20 points, rising from 20.7 in October to 40.8 in November. The surge is surprising given economists expected a drop in the index to 18.5. The dramatic upswing was met […]
The latest Architecture Billings Index (ABI) slipped to 53.7 in October from 55.2 in September but shows continued strength in multi-family residential construction as well as growth for institutional construction projects. Demand for architectural design services was highest in the South and contracted sharply in the Northeast. The new projects inquiry index was 62.7, following a […]
Austrian international technology company ANDRITZ Group has acquired Herr-Voss Stamco in Callery, Pennsylvania for an undisclosed purchase price. The acquisition will enlarge ANDRITZ’s service and product offerings in the North American metals sector. Herr-Voss Stamco also serves a large customer base in the North American automotive, service center and oil/gas industries. Herr-Voss Stamco is supplier […]
PITTSBURGH, Nov. 18, 2014 /PRNewswire/– United States Steel Corporation (NYSE: X) today announced the executive leadership for three of the company’s newly created commercial entities. Joseph R. Scherrbaum will serve as acting vice president – Industrial Solutions, Geoff M. Turk will serve as vice president – Service Center Solutions and Lawrence W. Sutherland will serve […]
PITTSBURGH, Nov. 18, 2014 — United States Steel Corporation (NYSE: X) today announced the executive leadership for three of the company’s newly created commercial entities. Joseph R. Scherrbaum will serve as acting vice president – Industrial Solutions, Geoff M. Turk will serve as vice president – Service Center Solutions and Lawrence W. Sutherland will serve […]
US Steel announced a realignment of its reporting segments in order to meet strategic goals set forth in its Carnegie Way transformation. The North American flat-rolled segment will include creation of commercial entities to address specific markets. The realignment will take effect by January 1, 2015. “These commercial entities will put our company in a […]
The world’s largest steel trader, Duferco International Trading Holding, confirmed Tuesday it will sell a majority stake to China’s Hebei Iron & Steel Group. The deal is valued at approximately $400 million according to China News Service. The agreement, signed on Tuesday, is aimed at enhancing the ability of China’s largest steel company to sell […]
The Wyoming Business Council and JR Simplot Company are hoping to revive a shuttered iron ore mine and build a $500 million iron ore concentrator and pig iron production facility in central Wyoming. The plant would produce cast pigs with a carbon content of 3.5 percent made from low grade taconite ore with an iron […]
Steel buyers in the October ISM Steel Buyers Survey are expecting general economic activity to remain unchanged for the next six months. When asked about the trend for sales and production during the six month period, seventy-five percent responded “the same.” A solid 91.7 percent of steel buyers said the trend for incoming orders will […]
Manufacturing activity in New York expanded at a faster pace in November, according to the Empire State Manufacturing Index, but missed analyst expectations. The Index rebounded to 10.2 from 6.17 in October but failed to reach the forecast reading of 12. The October and November readings are significantly lower than the May through September average […]
The House of Representatives passed legislation approving construction of the Keystone XL Pipeline. The project has been delayed for more than five years while seeking presidential approval for the line to cross the U.S./Canada border. The House voted 252-161-1 in support of the pipeline. The Senate will vote on Tuesday and will need 60 votes […]
The Dodge Momentum Index, an indicator of nonresidential construction intentions, rose 7.6 percent in October. The following is the press release from Dodge Data & Analytics. NEW YORK – NEW YORK – The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6 according to […]
Barge volumes continue to be high on the US river system although rates have softened slightly, according to the latest MID-SHIP Report. Grain shipments this year are at the highest level since 2010 and are loading 45-50 seaborne vessels each week in the Gulf. As of the beginning of November, 83 percent of the soybean […]
WASHINGTON, DC –The Board of Directors of the American Iron and Steel Institute (AISI) today elected three new members to its Board of Directors. Lourenco Goncalves, Chairman, President and CEO of Cliffs Natural Resources, Inc.; Roger K. Newport, Senior Vice President, Finance and CFO of AK Steel Corporation; and Conrad J. Winkler, President and CEO […]
Evraz Claymont Steel is slated for demolition by Commercial Development Company, Inc. (CDC). The Delaware mill, which has been idled since December 2013, will be sold by Evraz to CDC for an undisclosed figure by the end of the year. CDC plans to “take the site through a brownfield-cleanup process, which will include the demolition […]
Congestion at California ports has prompted West Coast trucking associations to craft a petition to Federal Motor Carrier Safety Association for temporary flexibility in the hours of service rules to alleviate problems. The American Trucking Association (ATA), California Trucking Association and Southern California Harbor Trucking Association want waiting time to not be counted as on-duty […]
Freight shipments, especially imports, are on the climb as the nation looks toward an economically stronger holiday season. The Cass Freight Index, which follows freight expenditures and shipment volumes, showed shipments increased in October by 3.3 percent year over year but fell 0.9 percent on a monthly basis. The slide, says Cass Information Systems, is […]
Vicwest Inc., a leading manufacturer and distributor of engineered storage and handling systems, will be sold to Kingspan Group and Ag Growth International Inc. (AGI). The company is valued at Canadian $350 million (US$ 308.6 million). Irish insulation and materials manufacturer Kingspan will purchase all the outstanding shares of Vicwest and will retain the Vicwest […]
Production has been suspended at the Nucor Louisiana DRI plant due to an major failure of the process gas heater on November 2. The company is assessing the damage from the incident but is not yet able to estimate how long repairs will take. The incident caused no injuries or environmental impact and no damage […]
ArcelorMittal reported $20 billion in sales for third quarter on 21.5 million tonnes (23.7 million tons) of steel shipments. Net income for the quarter was $22 million, compared to $52 million in Q2 2014 and a net loss of $193 million in Q3 2013. Total crude steel production for the company was 23.9 million tonnes […]