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Latest News:
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Allegheny Technologies Announces Q2 2010 Results
Jul. 29, 2010 - Allegheny Technologies Inc. reported net income for the second quarter 2010 of $36.4 million, or $0.36 per share, on sales of $1.05 billion. This compares favorably to last year’s Q2 net loss, including special charges, of $13.4 million, or $0.14 per share, on sales of $710.0 million.
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Siemens Receives Order from ATI for Integrated Hot-Rolling Mill
Jul. 28, 2010 - Allegheny Technologies Inc. awarded a contract to Siemens VAI Metals Technologies GmbH to design, engineer, and supply a complete integrated hot-rolling mill on a process turn-key basis. The new mill will be part of a new advanced specialty metals hot-rolling and processing facility, and will be built at ATI Allegheny Ludlum in Brackenridge, Pa.
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AK Steel Reports Q2 Financial Results
Jul. 28, 2010 - AK Steel reported net income of $26.7 million, or $0.24 per diluted share of common stock, for the second quarter of 2010, compared to a net loss of $47.2 million, or a loss of $0.43 per diluted share, for the same period last year.
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U. S. Steel Reports 2nd Quarter 2010 Results
Jul. 28, 2010 - U.S. Steel reported a net loss of $25 million on net sales of $4.7 billion for the second quarter, and a net loss of $182 million on net sales of $8.6 billion for the first six months of 2010.
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Court Rules Against Delay in U.S. Steel Case
Jul. 27, 2010 - Canada’s Federal Court of Appeal has ruled against U.S. Steel’s request to for a stay in proceedings related to the company’s failure to satisfy commitments made under the Investment Canada Act prior to the company’s purchase of Stelco.
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Horsehead Reports Explosion, Two Fatalities at PA Plant
Jul. 26, 2010 - Horsehead Holding Corp. reported that on July 22 an explosion occurred at its Horsehead Corp. Monaca, Pa., facility, resulting in two fatalities and injuries to at least two employees in the plant's refining facility.
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Stainless Steel Imports Up 53% through April 2010
Jul. 26, 2010 - Total stainless steel imports reached 183,761 tons for YTD April 2010 a 52.8% increase compared to the comparable year-ago period according to the latest report from SSINA. Total specialty steel imports (comprising stainless steel, alloy tool steel and electrical steel) were up 37.8% through the same period.
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Metals USA Reports Q2 2010 Results
Jul. 23, 2010 - Metals USA Holdings Corp. reported sales revenues of $335.0 million for the second quarter of 2010 ended June 30, 2010. This compares favorably to sales revenues of $287.9 million for the first quarter of 2010 and $267.8 million for the same period a year ago.
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Nucor Reports 2nd Quarter, Six-Month Results
Jul. 23, 2010 - Nucor reported consolidated net earnings of $91.0 million on consolidated net sales of $4.20 billion for the second quarter, and consolidated net earnings of $122.0 million on consolidated net sales of $7.85 billion for the first half of 2010.
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California Steel Industries Reports Q2 2010 Results
Jul. 22, 2010 - California Steel Industries, Inc. reported second-quarter net income of $18.5 million for the period ended June 30, 2010. Sales revenues for the quarter are $301.7 million on shipments of 363,127 net tons. The figures represent significant increases compared to the same period a year ago.
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World Crude Steel Production Dips 4.4% in June
Jul. 22, 2010 - World crude steel production for the 66 countries reporting to the world steel association stood at an estimated 118.76 million tonnes in June 2010 — a 4.4% decrease from the previous month (May 2010) and an 18.0% increase vs. June 2009.
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Universal Stainless Names New CFO
Jul. 21, 2010 - Douglas M. McSorley has been named Vice President of Finance, Chief Financial Officer, and Treasurer of Universal Stainless & Alloy Products, Inc., effective July 19.
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ALJ Releases 3rd Quarter Revenue Performance
Jul. 21, 2010 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of
$31.0 million for the third quarter and revenues of $80.5 million for the nine months ended June 30, 2010.
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Metals Shipments Accelerate in June 2010
Jul. 21, 2010 - Year-over-year growth of steel and aluminum shipments from U.S. and Canadian metals service centers continued at double-digit rates in June, according to the latest Metals Activity Report from the Metals Service Center Institute.
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May Steel Shipments up 4.1% from April
Jul. 19, 2010 - U.S. steel mills shipped 7,345,455 net tons for the month of May 2010, a 4.1% increase from the 7,057,660 net tons shipped in the previous month and a 71.6% increase from the 4,281,986 net tons shipped in May 2009 according to the latest report from AISI.
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Mesabi Trust Declares Distribution
Jul. 16, 2010 - The Trustees of Mesabi Trust declared a distribution of $0.80 per Unit of Beneficial Interest payable on August 20, 2010, to Mesabi Trust unit holders of record at the close of business on July 30. The Trust did not declare a distribution for the same period a year ago.
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AISI Opposes Electric Utility Cap-and-Trade Proposals
Jul. 16, 2010 - AISI expresses opposition to proposals for a cap-and-trade program directly regulating the electric utility sector because of the substantially negative impact such legislation would have on the international competitiveness of the steel industry.
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U.S. Steel Joins Coalition to Help Keep Chicago Locks Open
Jul. 15, 2010 - The UnLock Our Jobs coalition announced several new members, including U.S. Steel Corp., Ports of Indiana, and American Agriculture Movement. The coalition works toward a comprehensive solution to stop the spread of Asian Carp, while leaving the Chicago locks open to commerce.
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Lakeside Steel Provides Q1 Operations Update
Jul. 14, 2010 - Lakeside Steel announced its fiscal first-quarter operations update for the three months ended June 30, 2010 (Q1 2011), including preliminary numbers suggesting shipments of 53,719 tons—a 268% improvement over Q1 2010 and a 35% improvement over Q4 2010.
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Ryerson Completes Buyout of China Joint Venture
Jul. 13, 2010 - Ryerson Holding Corp. has, via its subsidiaries, acquired Van Shung Chong Holdings' (VSC) 20% stake in Ryerson China Ltd., a joint venture between Ryerson and VSC formed in 2006. Ryerson China Ltd. is now a wholly-owned Ryerson subsidiary.
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Olympic Steel Completes New Credit Facility
Jul. 12, 2010 - Olympic Steel, Inc. completed a new $125 million five-year asset based credit facility on June 30. The new ABL facility, which replaces the company’s existing $130 million credit facility that was due to expire in December 2011, has a maturity date of June 30, 2015.
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USW Members Ratify Contract Extension for AK Ashland Works
Jul. 12, 2010 - Members of USW Local 1865 union ratify a three-year extension to the labor agreement covering production and maintenance employees at AK Steel's Ashland Works. The extension contains new language that increases the company’s operating flexibility as well as a wage increase for covered employees and lump sum payments over the next three years.
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AK Steel Researcher Named ASM International Fellow
Jul. 9, 2010 - AK Steel’s Jerry L. Arnold, a Principal Research Engineer at the company’s Research Center, has been elected a Fellow of the Society by ASM International in recognition of his “distinguished contributions in the field of materials science and engineering”.
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Harsco Announces Executive Management Appointments
Jul. 9, 2010 - Harsco announces major appointments within the company's senior executive management structure, including the appointment of Chairman and CEO Salvatore D. Fazzolari to the additional post of President.
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June Steel Import Permits Decline 15% from May
Jul. 8, 2010 - Steel import permit applications reached a total of 1,955,000 net tons for the month of June, a 15% decrease from the 2,297,000 permit tons recorded in May according to the latest report from AISI.
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Cliffs to Acquire INR Energy’s West Virginia Coal Operations
Jul. 7, 2010 - Cliffs Natural Resources has entered into a definitive agreement to acquire all of the coal operations of privately owned INR Energy. INR’s operations include two underground continuous mining method metallurgical coal mines and one open-surface mine, as well as a state-of-the-art coal preparation and processing facility and a new 110-car unit-train batch-weight load out facility with access to the CSX railroad.
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Gerdau, Gerdau Ameristeel Enter Arrangement Agreement
Jul. 6, 2010 - Gerdau Ameristeel and Gerdau SA enter into a definitive arrangement agreement to implement their proposal to take Gerdau Ameristeel private at a price of US$11.00 cash per Common Share. If approved by shareholders, the transaction is expected to be completed in August 2010.
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First Quarter Stainless Steel Imports 44% Ahead of Q1-2009
Jul. 2, 2010 - Total stainless steel imports reached 131,894 tons for YTD March 2010, a 44.1% increase compared to YTD March 2009 according to the latest report from SSINA. Total specialty steel imports (comprising stainless steel, alloy tool steel and electrical steel) were up 23.8% through the same period.
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Nucor’s Parrish to Retire; Darsey Promoted
Jul. 2, 2010 - Nucor Corp. Executive Vice President of Bar Products D. Michael Parrish plans to retire at the end of August after 35 years of service with Nucor. Effective September 1, James R. Darsey will be promoted to the position.
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Schnitzer Steel Reports Highest Earnings since Q4 FY08
Jul. 1, 2010 - Schnitzer Steel Industries, Inc. reported diluted earnings per share from continuing operations of $1.43 for its fiscal 2010 third quarter ended May 31, 2010. This compares with a loss per share from continuing operations of ($0.01) for the same quarter of fiscal 2009.
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Tenova Goodfellow Installs Water Detection System at ArcelorMittal Contrecoeur Ouest
Jul. 1, 2010 - ArcelorMittal Contrecour Ouest has achieved EAF operating savings of over US$2.00 per ton liquid steel using the EFSOP® system installed by Tenova Goodfellow at its plant near Montreal. Tenova Goodfellow has also completed the installation of its EFSOP Water Detection System, which detects and alerts operators in real time of abnormal water events in the furnace.
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Metals USA Acquires J. Rubin & Co.
Jun. 30, 2010 - Metals USA Holdings Corp. has announced the acquisition of J. Rubin & Co., a metal service center with locations in Illinois, Wisconsin, and Minnesota.
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Worthington Reports Q4 and Fiscal Year Results
Jun. 30, 2010 - Worthington Industries reported net sales of $626.4 million and net earnings of $33.1 million, or $0.42 per share, for the fiscal 2010 fourth quarter ended May 31, 2010. For the fiscal year ended May 31, the company posted net earnings of $45.2 million, or $0.57 per share.
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Cliffs Named to Bloomberg Businessweek’s 50 Top Performers List
Jun. 29, 2010 - Cliffs Natural Resources is ninth on Bloomberg Businessweek’s inaugural “50 Top Performers” list, which ranks U.S. corporations with the highest total returns for shareholders in the Standard & Poor’s 500 stock index over the past five years.
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