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Another incident hits Algoma Steel mill
Algoma Steel Group Inc. suffered another incident at its steel mill in Sault Ste. Marie, Ontario, this week.
Algoma Steel Group Inc. suffered another incident at its steel mill in Sault Ste. Marie, Ontario, this week.
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.
Algoma Steel reported a wider loss in its fiscal third quarter amid lingering impact from the United Auto Workers (UAW) strike and “heavy seasonal maintenance.” Additionally, the Canadian steelmaker said it has completed repairs at it blast furnace and “restored partial coke-making capabilities” after a previously reported incident on Jan. 20.
The head of SSAB Americas talked the company's commitment to Swedish parent SSAB’s mission statement of sustainability at the Tampa Steel Conference 2024.
I thought Nippon Steel’s $14.1-billion deal for U.S. Steel might become a political football in this year’s presidential election. Now there is little doubt that it will after Trump told reporters in Washington, D.C., earlier this week that he would “absolutely” block the transaction – and that he would do so “instantaneously.”
SunCoke Energy Inc.’s earnings improved in the fourth quarter, driven by higher coal-to-coke yields, the company said in its Q4, and full-year results on Feb. 1.
U.S. Steel swung to a loss in Q4'23 in its first quarterly earnings since the announced sale to Japan's Nippon Steel.
A weaker steel market and lower prices in Europe dragged down SSAB’s earnings during the last three months of 2023.
Nucor is optimistic about long-term activity from bridges and highways, semiconductor chip plants and renewable energy, but still sees some short-term challenges. The North Carolina-headquartered steelmaker expects the federal programs that support these megatrends “to add somewhere between 5 million to 8 million tons of incremental annual demand for steel over the next several years,” […]
Cleveland Cliffs executives didn’t mince words when opening its Q4’23 earnings call.
Nucor Corp. reported a decline in profits during the fourth quarter due to lower pricing and volumes.
Cleveland-Cliffs Inc. shipped more than 4 million short tons (st) of steel in each quarter of 2023, pushing its full-year shipments to a record 16.4m st.
Steel Dynamics Inc. faces rising costs for its Columbus, Miss., aluminum rolling mill, but the project timeline remains on track.
The Tampa Steel Conference is just a few days away. Here are some topics I’m looking forward to learning more about during the proceedings on Monday and Tuesday. For starters, we’ll have about a month of 2024 under our belt when we convene on Sunday. How does that compare to what we thought the start of the year would look like? And what’s the outlook for the balance of the year?
Steel Dynamics Inc. executives said the company’s Sinton, Texas, flat-rolled steel is now Ebitda positive.
Steel Dynamics Inc.’s (SDI’s) top executive sees hot band demand remaining strong in 2024, which should support pricing.
Steel Dynamics Inc. (SDI) reported lower fourth quarter 2023 earnings on Tuesday but predicted good times ahead in 2024. The Fort Wayne, Ind.-based steelmaker posted a Q4’23 profit of $424.3 million, down 33.2% from a profit of $634.9 million in Q4’22 on sales that fell 12.3% to $4.2 billion.
This earnings season will hit a little different. U.S. Steel has announced that it won’t be hosting an earnings call. While this silence is normal during an acquisition process, it does alter a staple of the earnings landscape.
Commercial Metals Co. saw robust demand from the construction markets in its first fiscal quarter, which ended on Nov. 30, 2023.
Canadian flat-rolled steelmaker Algoma Steel Group Inc. guided toward lower earnings in its fiscal 2024 third quarter, citing the United Auto Workers (UAW) strike and lower steel prices last fall.
The newly separated Worthington Steel noted improved earnings in its fiscal second-quarter results.
Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings sequentially and on-year, though the company said “steel order activity remains solid.”
U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.
Lower prices and volumes will impact Nucor Corp.’s earnings in the current quarter, the steelmaker said in fourth-quarter earnings guidance on Thursday, Dec. 14.
CRU analysts share an update on the aluminm markets.
Virginia-based metal recycler Greenwave Technology Solutions revealed its financial troubles in its 10-Q quarterly report released on Nov. 14.
Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.
ArcelorMittal expects that its $2.2-billion acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) will close in late February. “The transaction closes end of this month,” chief financial officer Genuino Christino said during an earnings call with analysts last week. The Luxembourg-based steelmaker had said that the deal had received final antitrust clearance in commentary […]