Tag: processing

Reliance Inc. has acquired flat-rolled steel service center MidWest Materials of Perry, Ohio.

Cleveland-Cliffs’ Lourenco Goncalves said the company is still interested in acquiring U.S. Steel, though no bid is currently on the table, according to a local report.

The LME 3-month aluminum price resumed moving lower on the morning of March 22 and was last seen trading at $2,290 per metric ton. The price was unable to break through an important resistance level at $2,300/mt on March 21. EGA to acquire European recycler Emirates Global Aluminium of the UAE has signed a binding […]

With Earth Day almost a month away, the world’s attention often turns to the manufacturing sector with calls for greener production processes.

Nucor said on Thursday afternoon it expects higher profits in the first quarter vs. the previous quarter but lower than a year earlier.

Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.

The International Trade Commission (ITC) voted earlier this month against imposing antidumping and countervailing duties on imports of tin mill products from four countries. When Cliffs filed trade cases on tin mill products in early 2023, the company claimed that the failure to get massive duties on imports would result in the closure of its mill in Weirton, W.Va. We don’t know the reasoning behind this decision, only that all four sitting Commissioners voted not to impose duties. We do know that Cliffs plans to close Weirton.

Friedman Industries posted lower earnings in its fiscal third quarter but was upbeat on the next quarter due to the effect of increased hot-rolled coil prices.

Reliance has entered into an agreement to purchase Houston-based American Alloy Steel Inc. for an undisclosed sum.

The US Midwest premium continued to trade between 18.8–19.4 cents per pound (¢/lb) this week. There remains a host of macroeconomic and geopolitical risks in the current environment, but none have affected the short-term outlook for the premium. Current trading for April reached 20 ¢/lb which is on par with CRU’s current forecast for Q2’24. Dates closer to the end of the year have fallen to 21.2 ¢/lb.

SBQ producer Alton Steel Inc. (ASI) has appointed a new chief executive.

Norfolk Iron & Metal is installing a new Butech Bliss temper mill cut-to-length line at its Port of Catoosa processing facility near Tulsa, Okla.

Nucor Corp. reported a decline in profits during the fourth quarter due to lower pricing and volumes.

The American steel market, including the stainless steel market, continues to face serious threats from subsidized and dumped imports resulting from foreign government policies creating an unfair playing field. It is no secret that China is a major culprit.

The 35th Annual Tampa Steel Conference starts in just a few days. As one of the premier domestic steel conferences, it’s the perfect way to kick off 2024. It’s not too late to register if you haven’t already done so, but make sure to book now!

India-based Tata Steel is to close down the two blast furnaces at its loss-making Port Talbot works in South Wales, UK, during a four-year switch to EAF-based steel making. Under the proposals, 2,800 jobs are at risk.

The capacity for EAF steelmaking is growing both in the US and abroad. Ferrous scrap supply has never been more important. A lot of people have viewed the scrap industry as old-fashioned and resistant to change. However, the same forces affecting the steel and other industries are also at play in recycling.

We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!

When I started in the scrap business many years ago as a rookie trader in Luria’s Cleveland office, I saw an industry composed of family-owned businesses stretching across a great industrial nation.

The LME aluminum 3-month price was moving further down on the morning of Jan. 5 and was last seen trading at $2,287 per metric ton (mt) as of this article’s writing, already down 6% from its recent peak. SHFE cash also concluded the first week of the year on a weaker foot. The cash contract […]

The LME aluminum 3-month price is moving higher on the morning of Dec. 15 and was last seen trading at $2,258 /metric ton. This means the price is up 7% already since the new low for 2023 was reached on Wednesday at $2,109 /metric ton. The US Dollar reached its lowest level since early August […]

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.

Worthington Industries has completed its split into two separate companies: Worthington Steel Inc. and Worthington Enterprises Inc.

Galvanized steel buyers reported a seller's market with steady demand, long lead times, and strong pricing on this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association.

Virginia-based metal recycler Greenwave Technology Solutions revealed its financial troubles in its 10-Q quarterly report released on Nov. 14.

JSW Steel USA is expanding the rail infrastructure at its Mingo Junction mill, thanks in part to a grant from the state of Ohio.

Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.

The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.

U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.

Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.