"The second half of last year was especially bad with the steel demand from the automotive sector slowing down, construction activity lagging and industrial production taking a hit," the CEO said.
Olympic Steel has seen jobs for line pipe jump in recent weeks as the Trump administration has talked up fossil fuel production, which is good news for hot-rolled coil producers. Meanwhile, tariff talk has lengthened lead times, Olympic executives said.
Ryerson swung to a loss in the fourth quarter, but has seen a turnaround in the last 30 days.
Reliance noted that it is about 95% domestically sourced.
Russel Metals said on Thursday that it doesn’t expect to be directly impacted by US tariffs on Canadian steel. The Mississauga, Ontario-based distributor made the comments in its quarterly earnings report on Thursday. The company doesn’t export significant volumes to the US, it said, and thus doesn’t expect to be directly impacted. However, “The primary […]
Facing weak demand and an “unsustainably low” pricing environment, GrafTech International posted another quarterly loss to close out 2024.
AM/NS Calvert has begun commissioning its new electric-arc furnace, with plans to reach its full annual run rate of 1.65 million short tons a year from now.
Muted demand from the auto industry took a particular toll later in the year.
U.S. Steel’s losses widened in the fourth quarter on lower steel prices, weaker demand, and startup costs relating to the expansion of its Big River Steel EAF sheet mill in Arkansas. But the Pittsburgh-based steelmaker said it expected results to improve in 2025 as Big River 2 – the project to double capacity at the Osceola, Ark., mill - gains steam.
JSW Steel USA’s operations took earnings hits in the quarter ended Dec. 31. And Indian parent company JSW Steel believes potential tariff hikes by the Trump administration could hamper declining inflation in the US. JSW Steel USA operates the Mingo Junction slab and hot-rolled sheet mill in Ohio and the Baytown plate and pipe and […]
But the Swedish steelmaker is optimistic about a rebound
Nucor Corp. posted sharply lower fourth quarter earnings on Monday driven in part by lower average selling prices at its steel mills. The Charlotte, N.C.-based steelmaker also warned that first-quarter results might not be much better in commentary released with earnings data. But Nucor said that it expected better times later in 2025. It also hinted at the possibility of ramped up trade restrictions – including more stringent Section 232 tariffs.
The company said the biggest headwind it's facing is the downturn in manufacturing.
AZZ Inc. is looking to make some deals after focusing on paying down debt.
Slow construction activity and low steel prices weighed down profits for Commercial Metals Company.
Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.
Worthington Enterprises' profits edged down in its fiscal second quarter of 205 vs. a year earlier. The company said a slump in sales in the quarter was due largely to the "deconsolidation" of the Sustainable Energy Solutions segment in the fourth quarter of fiscal 2024.
Depressed demand and weak prices drove Worthington Steel’s second fiscal quarter results to a sequential decline.
Nucor cited decreased volumes and prices in it steel mills segment as the key driver of its lower guidance for the fourth quarter.
The Fort Wayne, Ind.-based steelmaker and metal recycler expects Q4'24 earnings guidance in the range of $1.26 to $1.30 per diluted share.
GrafTech International’s third-quarter net loss increased from last year, with the company anticipating continuing weakness in near-term demand for graphite electrodes.
ArcelorMittal’s earnings saw notable declines from a year earlier as the company said market conditions remain challenging.
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.
Luxembourg-based Ternium achieved record-high sales volumes in Mexico in the third quarter, reaching key milestones at its Pesqueria industrial center, the largest project in the Latin American steelmaker's history.
Northwest Pipe’s third-quarter earnings jumped over 76% on-year as the company expects a strong finish to 2024.
Cleveland-Cliffs swung to a steep loss in the third quarter. However, it touted the recent closing of its acquisition of Stelco in its quarterly earnings report released on Monday and said steel demand should bounce back early next year.
Olympic Steel remained profitable in the third quarter despite strong economic headwinds and pricing pressure across the steel industry.
U.S. Steel said it has produced its first coil at the Big River 2 facility in Osceola., Ark., as the company reported lower profits on-year in the third quarter of 2024.
A strong performance from its logistics segment drove SunCoke Energy’s results higher in the third quarter.
Ryerson swung to a loss in Q3 as it navigated a "contractionary" environment in industrial metals and manufacturing.