Tag: Sumitomo

A roundup of recent aluminum news from CRU.

SunCoke Energy Inc. announced the retirement of its current CEO and the appointment of a new leader on Friday.

Three of Japan’s major banks have agreed to lend Nippon Steel a combined $16 billion for its $14.1-billion planned acquisition of United States Steel, provided the acquisition is completed, the Japanese steelmaker said.

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!

Directors of Canadian miner Teck Resources have unanimously turned down what it described as an “opportunistic acquisition proposal” from Glencore. The offer values the Canadian miner at around US$23 billion (€21 bn). Glencore made the move soon after Teck announced first copper production from the QB2 expansion at Quebrada Blanca, Chile. Teck’s CEO Jonathan Price […]

The US Department of Commerce’s International Trade Administration has adjusted the antidumping duty margins on imports of hot-rolled steel flats from Japan after an administrative review covering the one-year period ended September 30, 2020. Commerce calculated a weighted-average dumping margin of 24.07% for mandatory respondents Nippon Steel Corp., Nippon Steel Nisshin Co., and Nippon Steel […]

Three companies with more than a century of experience in the U.S. steel and auto industries are teaming in a joint venture called Madison Metal Processing that will operate a new, $40 million factory near Huntsville, Ala. The companies collaborating in the venture are Toyota Tsusho America Inc., Southern Mobility Products and SteelSummit Holdings, a subsidiary of Sumitomo Corp. […]

Nippon Steel & Sumitomo Metal Corp. is considering selling its shares of I/N Tek and I/N Kote, rolling and galvanizing plants held in a 50-50 joint venture with ArcelorMittal, to Cleveland-Cliffs. Cliffs acquired ArcelorMittal’s shares of the two plants in New Carlisle, Ind., in a deal for the company’s U.S. assets last month. Nippon Steel […]

I have been spending time looking at market momentum, lead times (real, not from our survey), who is buying and who is not (and why), and what the market should be concentrating on over the next couple of months (not just today). I am going to start with comments I got from a couple of […]

Imports of “finished” foreign steel are trending below 2 million net tons for the month of July. Overall, the trend, based on the first two weeks of license data for all products, is for a 3.2 million net ton month. SMU believes these numbers are overstated due to the opening of a new quarter and […]

SteelSummit Holdings, a national metals service center and trading company, has acquired Magic Steel Sales. Magic Steel Sales is a supplier of cold rolled, hot rolled, and coated slit steel products to customers in the eastern United States. The company operates service centers in Grand Rapids, Mich., and Decatur, Ala., and posts sales of approximately […]

ArcelorMittal faced a number of challenges that impacted earnings in the first quarter resulting in net income plunging 66 percent to $414 million from $1.19 billion reported in both the fourth quarter of 2018 and first quarter of 2019. Earnings reflected a $150 million impairment charge related to the sale of assets to acquire ArcelorMittal […]

Pacesetter and Nippon Steel & Sumikin Bussan Americas are joining forces to build a new, world-class steel service center in Houston. The strategic partnership will strengthen NSBA’s and Pacesetter’s position in key growth markets in the Southwestern U.S. and Mexico. The partnership is a strong strategic fit, said the companies, leveraging their respective strengths. NSBA […]

Joint partners ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. have been approved by creditors to acquire Essar Steel India Limited (ESIL) for an upfront payment of 42,000 crore rupees and investment of 8,000 crore rupees to improve operations (about $5.7 billion and $1.1 billion in U.S. dollars). ESIL, an integrated flat steel producer, is […]

Nippon Steel & Sumitomo Metal Corporation (NSSMC) announced on Wednesday that it will change its name to Nippon Steel Corporation effective April 1, 2019. “NSSMC has determined to adopt a new and more inclusive trade name befitting a steelmaker with origins in Japan and an emphasis on continuing growth in global markets looking toward the […]

ArcelorMittal (AM) and Nippon Steel & Sumitomo Metal Corp. (NSMMC) have teamed up to acquire and operate financially troubled Essar Steel India Ltd. (ESIL). The joint venture is still subject to regulatory approval. ESIL operates one of India’s largest integrated mills with annual capacity of 10 million tons. It manufactures hot rolled, cold rolled and […]

Last week ended with a bang. Steel Market Update received an invitation to participate in a press conference as Department of Commerce Secretary Wilbur Ross told the world that the DOC had found that imports of foreign steel negatively impact the steel and aluminum industries, which are necessary in the United States for national security […]

John Ferriola, chairman, president and CEO of Nucor Corp., has been named vice chairman of the World Steel Association board of directors. Ferriola will serve a one-year term with the Brussels-based trade association. Named as chairman of the worldsteel board was Kosei Shindo, president of Nippon Steel and Sumitomo Metals Corp. Ohjoon Kwon, CEO of […]

The following steel mills are registered to attend this year’s SMU Steel Summit Conference at the end of this month: ArcelorMittal Mexico, ArcelorMittal Dofasco, ArcelorMittal/Nippon Sumitomo Calvert, Ternium USA, Ternium Mexico, NLMK USA, Nucor, Nucor Mexico, Nucor Canada, Kandil Steel (Egypt), California Steel Industries, AK Steel, CSN USA, North Star BlueScope, Steel Dynamics Inc., The […]

I was advised late on Friday afternoon that we should expect a Nucor price increase early next week. With scrap prices firming $10 to $30 per ton our expectation is for the increase to be $25-$30 per ton. Then the question will be will the industry support another increase after tepid (at best) support for […]

Australian steel and aluminum manufacturers were relieved to hear that Australia will be exempt from any U.S. import tariffs imposed under Section 232. Prime Minister Malcolm Turnbull and Finance Minister Mathias Cormann lobbied U.S. officials at the G20 meetings arguing that Australia was a strong ally and exports relatively little of its steel and aluminum to […]

“Fair and Free Trade” is something that those of us who have been in the steel industry since 2000 have heard over and over again from the domestic steel industry. What exactly is “fair” trade and who should decide? The steel mills have done an exceptional job of determining the talking points through lobbying efforts […]

(ArcelorMittal press release, 8 November 2016) – ArcelorMittal is expanding its global portfolio of automotive steels by introducing a new generation of advanced high strength steels (AHSS). These innovative steels include the launch of new press hardenable steels (PHS) Ductibor® 1000 and Usibor® 2000 – both of which are already available for OEM qualification testing […]

John Ferriola, Chairman, CEO and President of Nucor Corp., has been elected Chairman of the World Steel Association (worldsteel). The elections for officers and the 2016 Executive Committee were held at worldsteel’s 50th Annual Conference in Dubai, UAE. Officers for worldsteel will serve for a period of one year. The new officers for 2016/2017 are: […]

After running on provisional licenses for the past six years, Thyssenkrupp’s CSA steel mill in Brazil has finally been granted a definitive operating license by the state environment authority. Companhia Siderúrgica do Atlantico (CSA) has faced environmental problems ever since it began production. Numerous fines and shutdowns were ordered by the court in relation to […]

There were some surprises on Friday afternoon when the U.S. Department of Commerce came out with their final determinations regarding antidumping and countervailing duties on hot rolled steel. Perhaps the biggest surprise was saved for POSCO out of Korea and the joint venture partner with US Steel on USS/POSCO mill in California. The UPI mill […]

Nippon Steel & Sumitomo Metal Corp. has developed a new automotive steel that is 20-30 percent lighter and 25 percent stronger than any high-tensile steel now on the market. The highest tensile strength currently available is 1400 megapascals with the industry average around 1200 MPa. NSSMC’s new steel has a grade of 1470 MPa and […]

Today, the Department of Commerce announced its affirmative final determinations in the AD investigations of imports of certain cold-rolled steel flat products (cold-rolled steel) from China and Japan, and CVD investigation of imports of cold-rolled steel from China. Commerce determined imports of cold-rolled steel from China and Japan have been sold in the U.S. at […]

German steel giant and elevator manufacturer Thyssenkrupp is back in steel industry news again. The company will take full ownership of Companhia Siderúrgica do Atlantico (CSA) from Brazilian mining company Vale SA. Vale owns 27 percent of CSA and plans to sell it to Thyssenkrupp AG for a “symbolic price” while remaining sole supplier of […]

The US Department of announced this evening that evidence of dumping (antidumping or AD) existed on imports of hot rolled steel from Australia, Brazil, Japan, Korea, the Netherlands, Turkey and the United Kingdom. Dumping duties ranged from a low of 3.97 percent out of Hyundai Steel Company in Korea to a high of 49.05 percent […]