This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]
U.S. Steel Corp. celebrated the opening of its $450-million non-grain oriented (NGO) electrical steel line at its Big River Steel Works in Osceola, Ark.
We’ve been busier than usual lately covering two major events (in addition to our pricing and data services) – the potential sale of U.S. Steel and the United Auto Workers (UAW) union strike. Let’s review some possible developments in each. U.S. Steel Sale – Back in the Headlines We learned last week that Stelco had […]
Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.
U.S. Steel expects earnings to drop in the third quarter vs. the prior quarter and the same period a year earlier as the company adjusts production because of the United Auto Workers (UAW) union strike.
Richard Fruehauf, U.S. Steel's chief of strategy and sustainability officer, spoke at Reuter's Industry Transition 2023 conference on Tuesday, Sept. 12.
Some of you may remember when the year “2000” seemed like the distant future.
At every Steel Summit, a few themes seem to emerge that I didn’t anticipate. In 2021, I remember the theme being that scrap would be the next precious metal. (And also that Cleveland-Cliffs planned to expand in to the scrap market.) This year, I expected that there would be a lot of discussion about decarbonization. What I didn’t entirely expect was that we’d be talking so much about electricity and power generation.
U.S. Steel has an upcoming mill outage planned for routine maintenance at its Big River Steel mill in Osceola, Ark.
I planned to write this column about some of the big themes we’ll be discussing at Steel Summit. That plan changed when U.S. Steel announced on Sunday afternoon that it was conducting a formal review of a sale of all or part of the company after receiving multiple unsolicited offers. It changed yet again when Cleveland-Cliffs said its offer for U.S. Steel had been rejected.
U.S. Steel dropped a bombshell on Sunday, announcing that it started a formal process to review multiple unsolicited offers for the company. Cleveland-Cliffs followed with an explosive announcement of its own just hours later: that it had offered to buy U.S. Steel and that the board of the Pittsburgh-based steelmaker had rejected its offer as "unreasonable."
David Stickler is eager to demonstrate how advancements in technology can contribute to making the rebar market more sustainable.
The newly formed Hybar company has secured financing for its planned 630,000-tons-per-year rebar mini mill being built in northeast Arkansas.
Steel prices and shipment volumes will probably be lower in the third quarter than they were in the second, U.S. Steel executives said.
U.S. Steel recorded lower profits in Q2’23 compared to Q2’22 on the heels of a drop in steel prices and a dip in shipments. The Pittsburgh-based steelmaker reported net income of $477 million in Q2’23, down 51% from $978 million in Q2’22 on sales that fell 20% to $5.01 billion over the same period. The […]
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill.
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill. “I’ve dreamed of owning a steel mill […]
U.S. Steel has announced environmental product declarations (EPDs) across three flat-rolled steel coil products melted at its Big River Steel Works in Osceola, Ark. The Pittsburgh-based steelmaker said Friday the offerings include hot-rolled, cold-rolled, and corrosion-resistant flat-rolled products from Big River Steel. “The EPDs provide quantifiable, independent, and audited environmental data on these core products,” […]
South Korean steelmaker Posco has big plans to increase its global production capacity, including the making of electrical steel in North America, according to local media reports. The Korea Times reported that Posco is planning to “build additional hyper non-oriented electrical steel factories in Korea and North America to produce 1 million tons of electrical […]
It’s been a wild ride in the HRC futures market since we last wrote this column. The chart below shows the CME Futures curve at our last publication at the beginning of June (yellow) and the last three weeks since Nucor’s initial price announcement (blue). A month ago, the physical market was in the doldrums. […]
U.S. Steel expects stronger earnings in Q2 vs. the prior quarter but lower than a year earlier. The company also said the planned startup of an electrical steel line at its Big River Steel operation in Arkansas is crucial to Q3. The Pittsburgh based steelmaker on Monday released adjusted-net-earnings-per-diluted-share guidance of $1.81 to $1.86 for Q2. This […]
We are counting down the days until SMU’s Steel Summit Conference on Monday-Wednesday, Aug. 21-23, in Atlanta. It’s only a little over two months away. Approximately 755 people have already registered. Our discounted room blocks are almost gone. Register here. The event will again be held at the Georgia International Convention Center, a massive conference center in close […]
U.S. Steel aims to increase base prices on spot orders of flat-rolled steel by at least $50 per ton ($2.50 per cwt.) The move is effective immediately and applies to “all open quotations and/or negotiations where an agreement is yet to be concluded,” the Pittsburgh-based steelmaker said in a letter to it sales executives on […]
The Congressional Steel Caucus held a hearing on The State of the Steel Industry in Washington on Wednesday, June 7, where prominent steel executives and the United Steelworkers (USW) union gave testimony on issues such as international trade and sustainability. In his opening remarks, US Rep. Frank Mrvan (D.-Ind.), vice-chairman of the Caucus, stressed his […]
General Motors will soon be sourcing low-carbon steel from ArcelorMittal North America. The steelmaker said it will provide the Detroit-based automaker with its XCarb™ recycled and renewably produced (RRP) steel made at its ArcelorMittal Dofasco plant in Hamilton, Ontario. Shipments are anticipated to begin in the current quarter, ArcelorMittal said in a statement. Made via […]
Trade organizations along the electrical steel value chain are urging President Biden to increase domestic production of the products. Groups represented in a May 22 letter sent to the president included the Alliance for Automotive Innovation, American Public Power Association, Edison Electric Institute, GridWise Alliance, International Brotherhood of Electrical Workers, Leading Builders of America, National Association of […]
U.S. Steel is bullish on the automotive market and believes it is well positioned to continue gaining market share in that important steel-consuming sector. Auto OEMs desire to have their advanced high-strength (AHSS) and automotive-grade steels produced more sustainably, said Kevin Lewis, U.S. Steel’s VP of finance, speaking on the company’s first-quarter earnings conference call […]
As you make your travel plans for this summer, don’t forget about this year’s Steel Summit Conference in Atlanta. The event will again be held at the Georgia International Convention Center, a world-class conference facility adjacent to the Hartsfield-Jackson Atlanta International Airport—think low airfares and easy access. So mark your calendar for Monday-Wednesday, Aug. 21-23. The […]
A research team at the Missouri University of Science and Technology will be using a $2 million government grant to improve the operating efficiency of electric-arc furnace (EAF) steelmaking. The Missouri S&T research team is being led by Dr. Ronald O’Malley, the F. Kenneth Iverson Endowed Chair of Steelmaking Technologies and director of the Kent D. […]
US Steel said its new electrical steel product, InduX™, will start production this summer at the company’s Big River Steel facility in Osceola, Ark. The Pittsburgh-based steelmaker will be commissioning its new non-grain oriented (NGO) electrical steel line at that time. When fully operational, it will produce up to 200,000 tons of InduX steel per […]