Tag: ArcelorMittal

A strike outside the ArcelorMittal Mexico plant in Lazaro Cardenas, Michoacán, is threatening to impact blast furnace operations at the mill.

The Inflation Reduction Act (IRA) appropriated more than $4 billion to the General Services Administration (GSA) and Federal Highways Administration (FHWA) for “Buy Clean” programs. The statute makes clear that GSA and FHWA purchases under these programs are limited to those with “substantially lower” emissions. There is no ambiguity in that requirement. The Environmental Protection Agency (EPA) has defined “substantially lower” to mean products with the lowest 20% of embodied emissions when compared to similar materials.

ArcelorMittal posted a narrower Q1’24 profit compared to Q1’23 but remained optimistic about steel's long-term demand prospects.

ArcelorMittal plans to build a new electrical steel manufacturing facility near its AM/NS Calvert joint-venture mill in Alabama.

After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]

Steel industry veteran Mark Bush announced he will be joining AM/NS Calvert as area manager steelmaking.

For something that wasn’t on the agenda in Washington this week, the proposed Nippon Steel deal for U.S. Steel is getting a lot of attention.

Steel prices continued to ease lower in early March – a trend seen since mid-January –  before showing signs of bottoming and inflecting up. The SMU Price Momentum Indicator for sheet products shifted from lower to neutral mid-way through the month after Nucor, Cleveland-Cliffs, and ArcelorMittal all targeted new base minimums between $825-840 per short […]

Sheet prices continue to inch higher. That’s a welcome development for many. But it’s also a far cry from the price surge many predicted about a month ago. Remember the theory that supported a spring surge: Sheet prices would soar on a combination of mill outages, stable-to-strong demand, restocking, mill price increases, and (potentially) trade action against Mexico as well.

AM/NS Calvert has announced Chris Richards as interim CEO during the company's transition period.

I can’t really define “Bidenomics” because it is so filled with contradictions. It seems to aim to increase manufacturing output in the United States. But not all increases are created equal.

Cleveland-Cliffs aims to increase sheet prices by $60 per short ton (st) and is seeking a new target base for hot-rolled coil (HRC) of $900/st. That's according to a press release circulated on Wednesday morning, March 27.

US hot-rolled coil (HRC) remains more expensive than offshore hot band but continues to move closer to parity as prices decline further. The premium domestic product had over imports for roughly five months now remains near parity as tags abroad and stateside inch down.

Sheet and plate prices mostly moved lower this week after little change was noted the week prior. Despite edging down, sentiment is mixed, and many suggest a bottom may be near.

AM/NS Calvert CEO Chuck Greene has announced his retirement as CEO, effective March 15.

ArcelorMittal is targeting a minimum base price for hot-rolled (HR) coil of $825 per ton. The Luxembourg-based steelmaker said the new floor price was effective immediately in a letter to its commercial team dated Friday, March 8.

SunCoke Energy Inc. announced the retirement of its current CEO and the appointment of a new leader on Friday.

The Italian government says it will appoint commissioners with specific steel-sector expertise in the coming days to assume control of the Taranto works, which is majority owned by ArcelorMittal.

ArcelorMittal indicated that a sale of U.S. Steel to Nippon Steel could lead to it taking full control of AM/NS Calvert, its joint venture sheet mill in Alabama. "Typically, in such situations, when there is a selling partner, they sell it to the other partner in the joint venture, right. So I could imagine such a situation would develop,” Mittal said.

ArcelorMittal swung to a loss in the fourth quarter largely because of costs associated with a deadly coal mining disaster last year in Kazakhstan. The Luxembourg-based steelmaker sold its Kazakhstan operations in December and no longer owns and operates coal mines as a result of the move, according to comments released along with earnings data on Thursday.

SBQ producer Alton Steel Inc. (ASI) has appointed a new chief executive.

Cleveland Cliffs executives didn’t mince words when opening its Q4’23 earnings call.

The 35th Annual Tampa Steel Conference starts in just a few days. As one of the premier domestic steel conferences, it’s the perfect way to kick off 2024. It’s not too late to register if you haven’t already done so, but make sure to book now!

We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!

Bloomberg has reported that Nippon Steel’s $14.1-billion deal for U.S. Steel might not close until 2025 – well after the Q2/Q3 2024 close date both companies have guided toward. That’s because a national security review of the deal ($14.9 billion if you include the USS debt Nippon Steel would assume) by the Committee on Foreign Investment in the United States (CFIUS) could take longer than initially expected

The ArcelorMittal Nippon Steel India (AM/NS India) joint venture (JV) aims to have 24 Mt/y of crude steel capacity by 2029, making the Hazira works in Gujarat the planet’s largest single-site integrated steel complex, says ArcelorMittal chairman Lakshmi Mittal. A first-phase expansion to 15 Mt/y of crude steel capacity is on schedule to be finished […]

The International Trade Commission (ITC) held a hearing on Thursday, Jan. 4, to consider arguments for and against the imposition of antidumping and countervailing duties (AD/CVDs) on tin mill products from a handful of countries. Both sides made compelling arguments.

I was asked to do an interview for a cable news channel in Ohio about Nippon Steel’s planned acquisition of U.S. Steel for more than $14 billion.

Nippon Steel will acquire U.S. Steel in a deal valued at $14.9 billion, or $55 per share, the two companies announced on Monday morning. The Japanese steelmaker will keep U.S. Steel's iconic logo and its Pittsburgh headquarters, the companies said.

As 2023 draws to a close, I wanted to look back on some of the key events and themes of the year. But I’m going to hold off on that idea because we were – as of Sunday afternoon - still waiting on news about arguably the biggest event of the year, the potential sale of U.S. Steel.