Evraz North America Inc. said it would lay off workers in Canada because of high volumes of low-priced imports. The company noted that “unfairly traded imports” continue to negatively impact its Canadian operations. “Due to these imports, and starting next month, Evraz North America will make production adjustments that will regrettably result in layoffs at its Canadian […]
Evraz North America (NA) is transitioning to a new general contractor for its rail mill under construction in Pueblo, Colo. “Construction will continue with a new general contractor in place to ensure the overall safety, quality, and timeliness of the project,” Evraz NA SVP David Ferryman said in a statement. “The work is not going […]
Welded pipe imports from four nations will continue to face antidumping (AD) duties after determinations from US trade agencies. Circular Welded Carbon-Quality Steel Pipe from Oman, Pakistan, and UAE — Sunset Review Results Circular welded carbon-quality steel pipe from Oman, Pakistan, and the United Arab Emirates will continue to be subject to AD duties for at […]
Stelco Inc. CEO Alan Kestenbaum got candid with Steel Market Update’s (SMU) Michael Cowden during the third fireside chat of the 2022 SMU Steel Summit conference. This year was Kestenbaum’s first time speaking at the Summit. Forecasting For the Near Future Though we’ve already seen prices skyrocket and dip back down, Kestenbaum clued us in […]
We had a big development this week with London-listed Russian steelmaker Evraz Plc announcing plans to sell its North American operations. A move like this has been rumored for some time. We’ve heard versions of it going back to Russia’s full-scale invasion of Ukraine in late February. Still, it was something of a shock to […]
Chicago-based Evraz North America is encouraged by its Russian parent company’s decision to divest its North American assets. The steelmaker said the move would provide increased certainty for its North American operations and employees. Evraz plc’s announcement of a sale “strengthens our long-term stability and will allow us to continue to lead in the markets where we […]
Russia’s Evraz plc has put its North American operations up for sale. Evraz North America (Evraz NA) operates two electric arc furnace facilities, four rolling mills, eight tube mills, and 17 scrap recycling facilities. It has annual steelmaking capacity of 2.3 million tons and a finished steel capacity of 3.5 million tons per year, including […]
While Evraz plc’s earnings results in the first half of the year were negatively impacted by geopolitical tensions and resulting operational challenges, the company’s North American operations recorded a solid performance. The Russian steelmaker made no mention of Russian forces invading Ukraine in February in its H1 financial results, citing only “geopolitical tensions, mounting economic […]
ArcelorMittal SA has agreed to buy Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) from Brazilian iron ore miner Vale SA and shareholders. The deal is worth $2.2 billion and is expected to be completed late this year. CSP is a joint venture between Vale, which holds a 50% stake in the company, and South Korean steelmakers […]
We are now 38 days away from the start of the 2022 SMU Steel Summit Conference. Registrations are now approaching 900 attendees and we still expect another 200+ executives to register over the next five weeks. If you have not yet registered, you can do so by clicking here. The following companies registered for the […]
We are now 38 days away from the start of the 2022 SMU Steel Summit Conference. Registrations are now approaching 900 attendees and we still expect another 200+ executives to register over the next five weeks. The following companies registered for the conference over the past few days (those with an * mean more than […]
Evraz North America has completed fracture toughness testing of its high-frequency welded line pipe for use in hydrogen transmission. The tested line pipe was produced from steel melted at Evraz’s EAF steel mill in Regina, Sask., Canada, and the welded pipe was also completed at the Regina mill. The company expects to complete full qualification […]
I mentioned in my last Final Thoughts that you should keep your eyes open for potential catalysts for higher prices even amid all the signs that tags probably have nowhere to go but lower. It turned out we found one hiding in plain sight. It’s contract talk season in the US, with labor pacts between […]
Evraz North America is idling production of large-diameter pipe at its Regina, Saskatchewan, mill due to market conditions, resulting in the layoff of hundreds of Canadian employees. “Although our overall business is strong, including demand for our other steel products, the large-diameter pipe market has been soft,” a company spokeswoman told SMU in an email on […]
Michael McQuade, Algoma Steel’s chief executive officer, will retire on June 1. Michael Garcia has been named to succeed him. McQuade will continue to serve on the company’s board of directors, where Garcia will also join concurrent with his appointment as CEO, the company said. “Mike McQuade has provided exemplary leadership through this transition period, […]
Evraz North America has seen no impact on its U.S. and Canadian operations or on its finances from sanctions rolled out following Russia’s invasion of Ukraine. Nor does the Chicago-based steelmaker expect any disruption as a result of the New York Stock Exchange (NYSE) and Nasdaq halting trading of U.S.-listed Russian companies, an Ervaz NA […]
Evraz does not expect to be hit by sanctions aimed at Russian banks and political elites after the country’s invasion of Ukraine, company executives said. But the situation is changing quickly, and it’s too soon to draw any firm conclusions, they said. “We believe it (sanctions) will not have a significant effect on the company,” […]
The North American operations of Evraz produced 1.88 million metric tons in 2021, an 18.9% improvement over 2020 despite some falloff near the end of the year, the company said in its Jan. 31 trading update. The Russia-based steelmaker reported fourth-quarter 2021 production of 480,000 metric tons in North America, a 2.2% decline from the […]
Evraz North America has taken an approximately one-week unplanned outage at its plate mill in Portland, Ore., market participants said. The downtime was needed because of problems with a reheat furnace, they said. The steelmaker has also scheduled a weeklong planned outage at the Portland plate mill in March, sources said. A company spokeswoman confirmed that […]
BlueScope Steel has closed its $240 million deal for ferrous scrap recycler MetalX. With the transaction complete, MetalX will operate under the name BlueScope Recycling and Materials. BlueScope announced the deal in early November and closed it on Dec. 17, according to a statement released earlier this week. MetalX is the leading scrap supplier to […]
Evraz is a major supplier of plate and tubular goods for the traditional oil and gas markets. At the same time, it is a leader in the use of renewable energy, with an electric arc furnace mill in Pueblo, Colo., powered primarily by solar. Jefferson Shaw, vice president of strategy for Evraz North America, sees […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
First, please note that due to the Thanksgiving holiday, the Steel Market Update newsletter will not be published on Thursday (which is Thanksgiving Day) and Sunday, Nov. 28. We will return to our normal publication schedule on Tuesday, Nov. 30. We want to wish everyone in the United States a happy, healthy Thanksgiving with family and […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
SMU is pleased to announce that our next Community Chat will feature Jefferson Shaw, vice president of strategy for Evraz North America. Mark your calendar for Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). And click here to register. It’s free. We’ll talk about Evraz NA’s plans to run its steel mill in […]
Earnings season is (mostly) done and dusted, so I’d like to turn your attention to another season: M&A announcement season. Bankers like to get deals done before Christmas. And I think there is a decent chance that any deals in the pipeline now are announced in the next month or so. Also, while spot prices […]
Evraz steel sales dropped in the third quarter as a strong showing from its North American operations only partially offset weaker demand as well as logistics and maintenance issues in Russia. The sales drop in Russia resulted in part from a slowdown in the local construction market. It also stemmed from bad weather and difficulty […]