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Latest News:
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Cliffs Elects New Board Member
Mar. 11, 2010 - Cliffs Natural Resources Inc.’s Board of Directors has elected James F. Kirsch as a director. Kirsch also currently serves as Chairman, President, and Chief Executive Officer of Ferro Corp.
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ArcelorMittal USA Again Receives Energy Star Honor
Mar. 10, 2010 - ArcelorMittal USA was recently selected, for the third consecutive year, as a 2010 Energy Star® Sustained Excellence Award winner for Energy Management, awarded annually by the U.S. Environmental Protection Agency and the U.S. Department of Energy.
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Steel Dynamics Declares Cash Dividend, Issues Q1 Guidance
Mar. 10, 2010 - Steel Dynamics’ board has declared a quarterly cash dividend of $0.075 per common share, payable on or about April 12, 2010, to shareholders of record at the close of business on March 31, 2010. The company also issued first quarter 2010 earnings guidance of $0.22 to $0.27 per diluted share.
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Steel Import Permits Decline 7% in February
Mar. 5, 2010 - Steel import permit applications totaled 1,530,000 net tons for the month of February, a 7% decrease from the 1,644,000 permit tons recorded in January according to the latest report from AISI.
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Superior Ships Components for EAF Revamp at North Star Bluescope
Mar. 5, 2010 - Superior Machine Co. of S.C., Inc. has completed and shipped the major components for an upcoming revamp of North Star BlueScope Steel, LLC’s electric arc furnace. Superior’s field service crew is in the process of reassembling the tilt platform, bottom shell (hearth), and upper shell onsite.
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AISI Supports Efforts to Halt EPA Regulation of Stationary Sources
Mar. 5, 2010 - The American Iron and Steel Institute applauds efforts in both the U.S. Senate and the U.S. House of Representatives to prevent “economically damaging action” by the Environmental Protection Agency to regulate greenhouse gases from stationary sources.
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Nucor, Mitsui to Form Steel Processing Joint Venture
Mar. 4, 2010 - Nucor Corp. and Mitsui & Co. (U.S.A.) have entered into a 50-50 joint venture in which newly created NuMit LLC will own and operate a flat rolled steel processing network and other steel related projects throughout North America.
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TMK IPSCO to Open New Production Facility in Marcellus Shale Region
Mar. 4, 2010 - TMK IPSCO has signed a lease on a building in Brookfield, Ohio, where it will install new equipment to further expand the threading capacity of its ULTRA Premium Connections product line. The facility is expected to begin operations during the second quarter of this year.
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Nucor Subsidiary Acquires Ocala Recycling
Mar. 2, 2010 - Nucor Corp.’s wholly owned subsidiary, The David J. Joseph Co. (DJJ), has acquired the assets and business of Ocala Recycling LLC, currently a subsidiary of Blaze Metals LLC. DJJ will operate the Ocala facilities as part of Trademark Metals Recycling LLC.
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Essar Steel Algoma Announces Scholarship Program
Mar. 2, 2010 - Essar Steel Algoma has launched a corporate scholarship program that offers two distinct scholarships: The Scholarship of Distinction, which targets university-bound students, and the Scholarship of Merit, which is aimed at students who elect to attend college.
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Commercial Metals to Exit Joist and Deck Business
Mar. 1, 2010 - Commercial Metals Co. recently announced its decision to exit the joist and deck business by way of sale and/or closure of those facilities. The company also has amended its agreement regarding its $400 million revolver and its $100 million accounts receivable (A/R) securitization agreement.
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YTD Stainless, Specialty Imports Down 50% through November 2009
Feb. 25, 2010 - Total stainless imports reached 348,431 tons through November 2009, a 49.9% decrease compared to YTD November 2008 according to the latest report from the SSINA. Total specialty imports reached 442,265 tons through the same period, a 50.6% decrease compared to YTD November 2008.
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AISI Commends Letter by Senators to EPA
Feb. 24, 2010 - The American Iron and Steel Institute has expressed its support for a letter signed by eight U.S. Senators to EPA Administrator Lisa P. Jackson raising “serious economic and energy security concerns” regarding the potential regulation of greenhouse gases from stationary sources under the Clean Air Act.
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Universal Stainless to Elect New Chairman of the Board
Feb. 24, 2010 - Universal Stainless & Alloy Products’ Board of Directors intends to elect Dennis M. Oates, the company's President and CEO, to the additional position of Chairman, in anticipation of the impending retirement from the Board of its current Chairman, Clarence M. ("Mac") McAninch.
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AISI Names Senior Director of Collaborative R&D
Feb. 24, 2010 - The American Iron and Steel Institute has appointed Joseph R. Vehec as Senior Director of Collaborative Research and Development. Currently AISI Director of the Technology Roadmap Program, Vehec will assume his new responsibilities on March 1.
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World Crude Steel Output Climbs Another 2.1% in January 2010
Feb. 23, 2010 - World crude steel production for the 66 countries reporting to the World Steel Association stood at an estimated 109.24 million tonnes in January 2010 — 2.1% higher than the previous month (December 2009) but about 26% higher than January 2009.
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Russel Metals Reports 2009 Annual, Fourth-Quarter Results
Feb. 23, 2010 - Russel Metals Inc. reported a fourth-quarter loss of $25 million ($0.42 per share), which includes a pre-tax net inventory write-down of $5 million and an asset impairment charge of $35 million. For the year, the company reported a loss of $92 million ($1.54 per share).
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USITC Votes to Continue Cases on Drill Pipe, Collars from China
Feb. 22, 2010 - The United States International Trade Commission recently determined that there is a reasonable indication that a U.S. industry is threatened with material injury due to imports of drill pipe and drill collars from China that are allegedly subsidized and sold at less than fair value.
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Severstal Columbus Closes Senior Secured Note Offering
Feb. 22, 2010 - Severstal Columbus LLC, a subsidiary of OAO Severstal, has issued a US$525 million aggregate principal amount of eight-year callable senior secured notes at an original issue discount of 2% and an annual coupon rate of 10.25%.
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Cliffs Reports Fourth-Quarter, Full-Year Results
Feb. 19, 2010 - Cliffs Natural Resources Inc. reported full-year revenues of $2.34 billion for the period ended Dec. 31, 2009, a decrease of 35% from the previous year. Consolidated fourth-quarter revenues were $820.5 million, a decrease of 10% compared to the same quarter last year.
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ALJ Announces 1st Quarter Earnings
Feb. 18, 2010 - ALJ, the parent company of Kentucky Electric, reports a net loss of $153,106 on net sales of $21.03 million for the three months ended December 31, 2009.
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AISI Challenges EPA Endangerment Finding
Feb. 17, 2010 - The American Iron and Steel Institute has filed a legal challenge to the Environmental Protection Agency’s recent decision that will result in greenhouse gas emissions being regulated under the Clean Air Act.
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Vallourec to Invest in New Youngstown Rolling Mill
Feb. 16, 2010 - Vallourec plans to build a new state-of-the-art, small-diameter rolling mill in Youngstown, Ohio. The company says this decision is supported by the long-term development of unconventional gas production in the U.S., which is driving increased demand for small-diameter OCTG tubes.
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AISI Names New President of Steel Market Development Institute
Feb. 16, 2010 - The American Iron and Steel Institute has appointed Lawrence W. Kavanagh as President of the Steel Market Development Institute, succeeding current President David C. Jeanes. Kavanagh will assume his new responsibilities on March 1.
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L.B. Foster Awarded Contract for Ports of Indiana
Feb. 15, 2010 - L.B. Foster Co. is providing steel sheet piling for improvements to the Ports of Indiana-Burns Harbor. It will begin shipping the piling in February 2010 with the final shipment expected by early April 2010.
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Steel Industry Leaders Express Sorrow over Murtha's Passing
Feb. 10, 2010 - The chairman of the American Iron and Steel Institute, the president of the United Steelworkers, and other steel industry leaders expressed sorrow over the death of Congressman John P. Murtha, Jr. (D-Pa.), a founding member of the Congressional Steel Caucus during his 19-term career in Congress.
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Danieli Micromill Started Up at CMC Arizona
Feb. 10, 2010 - Commercial Metals Co.’s CMC Steel Arizona has started up a new generation of Danieli continuous casting-rolling micromill. MI.DA® completes the range of Danieli minimills.
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Lakeside Announces Capital Expansion Plans, Renewal of Credit Facility
Feb. 10, 2010 - Lakeside Steel Inc.’s Board of Directors has recently approved a significant capital investment for the fiscal year ending March 31, 2011. Capital expansion plans include the construction of new facilities at the Welland, Ont., location of its wholly owned subsidiary, Lakeside Steel Corp.
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Linde Technology Helps ArcelorMittal Garner AIST Award
Feb. 9, 2010 - REBOX® oxyfuel technology developed and deployed by Linde North America has helped ArcelorMittal win the AIST 2009 Energy Achievement Award for its efforts to reduce fuel consumption by nearly two-thirds in the billet reheating operation at its Shelby, Ohio, seamless tube mill.
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