Nucor Corp.’s chief executive didn’t shy away from discussing the company’s interest in potentially acquiring the electric-arc furnace assets of U.S. Steel on Tuesday. An analyst on an earnings conference call asked about Nucor’s appetite for M&A given its strong cash position – $4.1 billion at the end of 2024. Chair, President, and CEO Leon […]
The 106” Mill was part of Algoma's plate and strip combination facility.
“We continue to make significant progress in our strategic transformation to become one of North America's leading low-carbon steel producers, setting the stage for an exciting 2025,” CEO Michael Garcia said.
“We are under constant threat from nonmarket economies who evade our trade laws," SMA said.
Primetals Technologies will be replacing two electric-arc furnaces at a steel mill in the US with one more energy-efficient furnace.
Canada’s Algoma Steel swung to a steep loss in the quarter ended Sept. 30 on lower steel shipments, greater consumption of purchased coke, and weakening market conditions.
Earlier this month, Nippon Steel announced that it is applying for subsidies under the Japanese government’s Green Transformation Promotion Act to expand the company’s electric furnace steelmaking capabilities and to convert from blast furnace to electric furnace operations. As we have said before, transitioning from blast furnace- to electric furnace-based steelmaking is a good thing […]
Summer is here, and a familiar sentiment has hit the hot-rolled coil (HRC) futures market. Prices continue to decline in both the spot market and the futures market, with expectations of sub-$800 prices for the remainder of the year.
The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.
The United Kingdom and other countries are using the “green” label to subsidize bailouts of obsolete, inefficient, and excess capacity that should exit the market. US steelmakers have invested billions of dollars in technologies that curb greenhouse gas output. These investments have been market-based and led by EAF producers such as Nucor, Steel Dynamics, and CMC.
The recently announced acquisition of Stelco by Cleveland-Cliffs (Cliffs), priced at nearly three times book value, provides a great price for Stelco shareholders. And various synergies will likely leave Cliffs with tremendous runway for further growth in this deal. Cliffs expects to close this deal in 2024 Q4 upon government approval. This approval is expected but not a given.
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
Steel Dynamics Inc. executives provided further insight into operations at the company’s Sinton, Texas, flat-rolled steel mill on a second-quarter earnings conference call on Thursday morning. Despite a series of start-up woes, the company recently commissioned two new coating lines there, and the mill continues to ramp up production. The execs were also bullish on […]
There are a lot of rumors swirling around the steel market over the last couple of weeks. Chief among them was that we might see a price hike after Independence Day. Another concerns a key detail in the new Section 232 agreement with Mexico. Namely, steel imported from Brazil into Mexico. Of particular interest is its potential implication for slabs imported from Brazil, rolled in Mexico, and then exported to the US.
Flat-rolled steel prices have been largely falling since the beginning of the year. Even after a slight bump in early April when mills tried to halt the downtrend, the decrease resumed.
Sources contacted by RMU have delivered a bleak forecast for the market’s direction in July, potentially extending into August.
Algoma executives reiterated that operations are proceeding as normal following an unplanned BF outage earlier this year.
Algoma Steel’s quarterly and full-year results took a hit from an unplanned blast furnace outage earlier this year. However, with a modernized plate mill and two new EAFs slated to come online by the end of this year, the Canadian flat-rolled steel producer is looking to a greener future.
Steelmaking raw material prices have generally declined over the past month according to SMU’s latest analysis.
Nearly 800 people have registered to attend Steel Summit on Aug. 26-28 at the Georgia International Convention Center (GICC) in Atlanta.
Sometimes, words can lead you in interesting directions. Specifically, crosswords. For the last six weeks we have been making steel-themed crosswords in the lead-up to SMU's Steel 101 course in Fort Wayne, Ind., which is taking place today and tomorrow. I’ve learned snippets of steel history and educated myself on the finer points of sponge iron.
Mexican steelmaker Deacero recently broke ground on a $600-million mini-mill in Ramos Arizpe, Coahuila, in northern Mexico.
When it comes to steel decarbonization, we do not need to compromise our climate ambition to make the types of demanding steel products needed for our 21st-century economy. Nevertheless, many of the world’s highest-emitting steel producers and their allies would have you believe that one cannot be done without the other. They are wrong. They […]
It feels like the summer doldrums arrived a little earlier than usual this year. I know there had been rumors of a price hike. The prospect of a sharply lower June scrap trade probably didn't help the chances of that actually happening.
ArcelorMittal plans to continue to invest and expand its operations in North America, a senior company executive said in an exclusive interview with SMU. “People were talking about our demise in North America or maybe our exit. And I want to emphasize that nothing could be further from the truth,” said Brad Davey, executive vice president and head of corporate development at the company.
We have highlighted a few significant moment in steel history in our last few Final Thoughts crosswords. This week we decided to dedicate the entire crossword to history.
The chatter about the June ferrous scrap market has been noticeably muted as we come off the Memorial Day weekend.
Cleveland-Cliffs is potentially eyeing a buy of NLMK USA’s Midwest assets, according to a report in Bloomberg.
The Biden administration recently announced tariffs on several products from China, including steel and aluminum. There has been much rejoicing over this move and there has been a great deal of support from the steel industry.
Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.