NLMK USA sales for 2013 jumped 3.7 percent to 1.8 million tonnes of steel (1.98 million tons), up from 1.74 million tonnes (1.9 million tons) in 2012. Sales were driven by improved demand by service centers, pipe manufacturers, construction and automotive. Fourth quarter 2013 steel production at NLMK Indiana totaled 164,000 tonnes (180,776 tons), down […]
Caterpillar Inc. reported Q4 sales and revenues fell 10 percent year-over-year to $14.402 billion, impacted negatively by a goodwill impairment charge of $580 million and positively by a tax settlement of $300 million. Machinery & Power Systems (M&PS) revenue dropped 11 percent in Q4 while operating profit increased 37 percent to $1.27 billion but was […]
Big River Steel, in Osceola, Ark., moved a step closer to construction with the removal of a construction stay by the Arkansas Department of Environmental Quality (ADEQ). The air permit for the facility has not yet been approved but the lifting of the stay will allow the preliminary construction phase to begin. The permit was […]
US Steel Canada announced on Friday several executive management changes that will go into effect on Feb. 1. Michael A. McQuade will succeed Anton Jura as President and General manager of US Steel Canada. Anton Jura will take on a new assignment in US Steel’s flat rolled operations in the United States. McQuade currently serves […]
The Eurozone is expected to have mild yet fragile growth throughout 2014 according to the EUROFER Q1-2014 Economic and Steel Market Outlook compiled by the EUROFER Economic Committee (EC). Indicators are pointing towards increased growth for industrial production, an important component for carbon flat rolled steel production in Europe. GDP has been edging up since […]
The Architecture Billings Index declined in December to 48.5 from 49.8 in November, marking the first consecutive monthly decline since May and June of 2012. Chief Economist Kermit Baker was unsure why the demand for architectural services is slowing and attributes some of the decline to anxiety caused by the government shutdown. Baker said “it […]
Steel production at Severstal NA was up 2 percent at 1,271,797 tonnes (1.4 million tons) in fourth quarter 2013 as compared to third quarter. Sales of rolled products decreased 2 percent to 1,172,137 tonnes (1.29 million tons) from the previous quarter. Sales hot rolled coils dropped 5 percent, cold roll was down 1 percent, while […]
Existing home sales rose 1 percent to a seasonally adjusted annual rate of 4.87 million in December but are 0.6 percent below 2012 levels, according to the National Association of Realtors. Sales for all of 2013 were 5.09 million, an increase of 9.1 percent and the strongest year since 2006 when sales reached 6.48 million. […]
SSAB plans to acquire Finnish steel company rival Rautaruukki for 10.1 billion kroner ($1.8 billion) in a deal that the two companies hope will bring a cost savings of 1.4 billion kroner ($254 million) in three years. The major stockholders at both companies, Solidium Oy (39.7 shares) at Rautaruukki and Industrivaerden AB (18.2 shares), are […]
Contractors are expecting a better year in 2014 said the Associated General Contractors of America in their latest report, Optimism Returns: The 2014 Construction Hiring and Business Outlook. In a survey of 800 AGCA members, firms reported stronger optimism for construction demand and employment than they have since the downturn in 2008. More than 40 […]
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 […]
Essar officials are working to find additional financing for the $1.7 billion Essar Steel Minnesota taconite plant under construction in Nashwauk, Minn. Construction of the plant has slowed with workers on the job reduced by more than half, down from an average of 150-200 to 74, according to reports by the Duluth News Tribune. The […]
Construction on the $5.2 billion Panama Canal expansion continued at a reduced rate on Monday despite threats by contractor consortium Grupo Unidos por El Canal, S.A. (GUPC) that work would be suspended due to lack of payment by the Panama Canal Authority (PCA). The Spanish controlled consortium was hired to build the third set of […]
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 […]
Altos Hornos de México (AHMSA) is pulling nearer to its goal of producing 5 million tons of steel per year. Production in 2013 reached 4.16 million tons, up 7 percent from 2012. Shipments of steel products totaled 3.55 million tons. AHMSA’s new Steckel mill produced 80,000 tons of steel plate in the final months of […]
Metalforming companies are expecting business conditions to accelerate in the next three months, according to the January 2014 Precision Metalforming Association (PMA) Business Conditions Report. In January, 46 percent of participants said they expected economic activity to improve, up from 41 percent in December, while 47 percent said they expect conditions will be unchanged. A leap […]
The introduction of an aluminum F-150 pickup at the Detroit auto show has the steel industry looking hard at its advanced high strength steels (AHSS) and figuring out how to insure that AHSS is the preferred material of choice for the auto industry. SMU spoke with Ronald P. Krupitzer, vice president of automotive applications for […]
The Dodge Momentum Index is a monthly measure of the initial report for nonresidential building projects in planning and is published by McGraw Hill Construction. The report leads construction spending by a full year and can be used an indicator for future construction. Any reading above 100, established for year 2000, indicates growth in construction […]
Last week the Bipartisan Congressional Trade Priorities Act of 2014 was presented in the House of Representatives to renew and strengthen the existing Trade Priorities Act. The American Institute for International Steel supports the bipartisan legislation, saying it is “among the most significant trade bills introduced in Congress.” To read the full press release from the […]
Evraz NA said it may need to lay off more than 400 steel workers at the Evraz Regina mill in Saskatchewan due to transportation problems at the Canadian Pacific and Canadian National railways. Warning notices were sent last week to approximately 420 of its 510 employees in the company’s tubular steel division. Evraz says pipe […]
Canadian building permits declined in November to 18,173, falling 3.6 percent from October. The value of permits issued dropped 6.7 percent to $6.8 billion after gaining 8 percent the previous month. Permit values have been an upward trend with eight monthly increases in 2013. In the residential sector, the total value of permits declined 7.6 […]
ELK GROVE VILLAGE, Ill.–(BUSINESS WIRE)–Material Sciences Corporation, a leading provider of material-based solutions for acoustical and coated applications, announced today that it has entered into a definitive merger agreement with Zink Acquisition Holdings Inc. (“Parent”) and Zink Acquisition Merger Sub Inc. (“Merger Sub”), which are affiliates of New Star Metals Inc. and Insight Equity Holdings […]
Cargill will build its eighth U.S. steel processing center in response to increased demand for carbon steel sheet & coil products used in the manufacturing and shale oil and gas industry in Northern Colorado. The hot-rolled steel processing facility, located 60 miles north of Denver in Windsor, will begin construction in early 2014 and provide […]
Schnitzer Steel Industries, a metals recycling business, reported an adjusted net loss of $5 million during the first quarter 2014, ending Nov. 30, 2013, compared to adjusted net losses of $14 million the previous quarter and $1 million a year ago. Losses reflected soft ferrous scrap prices early in the quarter and restructuring costs. “All […]
Nucor reported a pump failure in an electric arc furnace (EAF) at their Decatur, Alabama facility on Tuesday, January 7. According to sources, a water cooled panel on the furnace erupted causing a small blast during the beginning of a scheduled maintenance period. No one was injured and the incident will not delay scheduled maintenance. No supply or production […]
Steel buyers are expecting general economic activity to remain unchanged to slightly better in the next six months. In the December ISM Steel Buyers Survey 63.6 percent expect conditions to remain the same while 36.4 percent of those surveyed expect improvement. This compares to 66.7 percent and 26.7 percent, respectively, last month. Sales and production […]
ASD Press Release: CHICAGO — The Association of Steel Distributors (ASD) announces that James (Jim) Barnett, president of Grand Steel Products in Wixom, Mich., is the recipient of the industry’s highest honor, the Steel Man of the Year Award. This annual ASD award honors one individual who embodies leadership, dedication, service and excellence in the […]
Commercial Metals Company (CMC) posted net earnings of $45.9 million on net sales of $1.7 billion for its first quarter of fiscal year 2014 ending on November 30, 2013. This compares with net earnings of $49.7 million on a similar net sale amount of $1.7 billion for the same period in FY 2013. Results included […]
December US auto sales failed to meet expectations but annual sales still registered as the best year since 2007. December sales were up just 0.3 percent but automakers were pleased with the 7.6 percent overall gains for 2013. The seasonally adjusted annual rate of 15.6 million units was well below the 16.0 million predicted by […]
The JP Morgan Global Manufacturing PMI rose to 53.3 in December from 53.1 in November, expanding for the twelfth consecutive month. Manufacturing production increased at its fastest pace since Feb. 2011, with growth rate of new orders holding steady at November’s rate. Exports rose for the sixth consecutive month. The US, Japan, Germany, the UK […]