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Latest News:
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AK Steel Reports 4th Quarter, Full-Year 2011 Results
Feb. 3, 2012 - AK Steel reported a net loss of $193.9 million on net sales of $1,509.2 million for the fourth quarter, and a net loss of $155.6 million on net sales of $6,468.0 million for the full year of 2011.
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Siemens Updates LD Converter at AHMSA's Monclova Works
Feb. 3, 2012 - Siemens VAI Metals Technologies received an order from Altos Hornos de Mexico, S.A.B. de C.V. (AHMSA) to modernize the LD converter in the Monclova steelworks in the Mexican state of Coahuila. The contract is scheduled for completion in the spring of 2013.
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Total Steel Import Permit Tons up 21% in January
Feb. 3, 2012 - Total steel import permit applications reached 2,691,000 net tons for the month of January 2012, a 21% increase from the 2,230,000 permit tons recorded in December according to the most recent report from AISI.
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November Steel Shipments Down 6.7% from October
Feb. 1, 2012 - U.S. steel mills shipped 7,404,828 net tons for the month of November 2011, a 6.7% decrease from the 7,933,653 net tons shipped in the previous month according to the latest report from AISI.
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Metals USA reports 4th Quarter, Fiscal 2011 Results
Jan. 31, 2012 - Metals USA Holdings reported net income of $14.0 million on net sales of $455.7 million for the fourth quarter and net income of $64.6 million on net sales of $1.9 billion for the year ended December 31, 2011.
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American Steel Industry Supports WTO Decision on Chinese Export Policies
Jan. 31, 2012 - The American Iron and Steel Institute, the Steel Manufacturers Association, the Specialty Steel Industry of North America, the Committee on Pipe and Tube Imports, and the United Steelworkers support the favorable decision by the Appellate Body of the World Trade Organization, which held that China’s restraints on exports of various raw materials violated its WTO obligations.
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Lakeside Steel Announces Management Changes
Jan. 31, 2012 - Lakeside Steel Inc. announced that Vic Alboini is no longer the Chairman and CEO of the company. The company has appointed Norman Findlay as Interim Chairman of the Board.
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Universal Stainless Reports 4th Quarter 2011 Results
Jan. 30, 2012 - Universal Stainless & Alloy Products, Inc. reported net income of $4.3 million on sales of $62.2 million for the fourth quarter, and net income of $18.1 million on record sales of $252.6 million for the full year of 2011.
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Nucor CEO Wins AISC Robert P. Stupp Award
Jan. 30, 2012 - Nucor Corp. Chairman and Chief Executive Officer, Daniel R. DiMicco, was announced as the recipient of the Robert P. Stupp Award for Leadership Excellence by the American Institute of Steel Construction. He will be honored at AISC's 2012 North American Steel Construction Conference in April.
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Nucor Reports Results for 4th Quarter, Year Ended 2011
Jan. 27, 2012 - Nucor Corp. reported consolidated net earnings of $137.1 million on consolidated net sales of $4.83 billion for the fourth quarter, and consolidated net earnings of $778.2 million on consolidated net sales of $20.02 billion for the full year 2010.
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Lakeside Steel, JMC Steel Group Execute Arrangement Agreement
Jan. 26, 2012 - Lakeside Steel Inc. and JMC Steel Group, Inc. have entered into a definitive agreement pursuant to which JMC Steel Group, Inc., through a wholly owned subsidiary, has agreed to acquire all of the issued and outstanding common shares of Lakeside at a price of $0.2983 per share in cash.
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Nucor to Expand Special Bar Quality Production
Jan. 26, 2012 - Nucor Corp. has announced plans for the continued expansion of its special bar quality (SBQ) production capabilities by a combined one million tons over the next two years.
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Steel Dynamics Reports 4th Quarter, 2011 Results
Jan. 26, 2012 - Steel Dynamics, Inc. announced net income of $30 million on net sales of $1.9 billion for the fourth quarter, and net income of $278 million on net sales of $8.0 billion for the full year 2011.
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RG Steel Restarts Blast Furnace at Sparrows Point, Strengthens Liquidity with New Capital
Jan. 23, 2012 - RG Steel announced that the “L” blast furnace at its Sparrows Point plant has resumed operations and should reach normal operating rates within several days. The company also announced that affiliates of Cerberus Capital Management, L.P. and The Renco Group, Inc. have committed to provide RG Steel with significant new capital that improves its liquidity and provides the financial ability to execute its business strategy.
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Cliffs Announces 2012 Capital Expenditure Plan
Jan. 20, 2012 - Cliffs Natural Resources Inc. announced projected full-year 2012 capital expenditures expectations, including its plans to invest approximately $1 billion, comprised of about $300 million of sustaining capital and $700 million of growth and productivity-improvement capital.
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Metal Shipments Show Double Digit Year-Over-Year Growth
Jan. 19, 2012 - Service center shipments grew at slightly higher levels in December for both steel and aluminum in Canada, according to the latest Metals Activity Report from the Metals Service Center Institute. In the U.S., steel shipments grew at about half the rate as last month and aluminum-shipment growth remained about the same.
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L.B. Foster to Supply Rail, Trackwork Products for V&M Star Pipe Mill
Jan. 18, 2012 - L.B. Foster Co. has begun delivery of $3.4 million of rail and trackwork products to rail contractor Wintrow Construction for the construction of 8.5 miles of track and other track materials at the new Vallourec & Mannesmann Tubes (V&M) Star Steel pipe mill in Youngstown, Ohio.
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Timken Workers Reject Agreement
Jan. 17, 2012 - Members of United Steelworkers Local 1123 based in Canton failed to ratify a tentative agreement between their bargaining representatives and Timken.
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Stainless Imports up 24.9% Through YTD October 2011
Jan. 16, 2012 - Total stainless imports reached 664,583 tons through YTD October 2011 a 24.9% increase compared to YTD October 2010 according to the latest report from SSINA. Total specialty steel imports (comprising stainless steel, alloy tool steel and electrical steel) reached 850,948 tons through the same period, a 25.5% increase.
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Severstal NA Hot Commissions New Hot Dip Galvanizing Line
Jan. 16, 2012 - Severstal North America’s new Hot Dip Galvanizing Line (HDGL) in Dearborn, Mich., has begun production of galvanized products. The new HDGL includes state-of-the-art controls for coating thickness and surface texture, as well as alloy and phase control.
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Advanced Steel Technologies Featured on Car and Truck Award Winners
Jan. 16, 2012 - The 2012 North American Car and Truck of the Year—the Hyundai Elantra and Range Rover Evoque—both feature advanced high-strength steel technologies, the Steel Market Development Institute noted. The winners were announced recently at the North American International Auto Show in Detroit.
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Steel Dynamics Announces New Term Loan Facility
Jan. 12, 2012 - Steel Dynamics, Inc. has expanded its senior secured credit facility by adding a $275.0 million term loan facility to its existing five-year $1.1 billion revolving credit facility.
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Severstal NA to Explore Feasibility of DRI Facility in Trinidad and Tobago
Jan. 12, 2012 - Severstal North America has entered into a Memorandum of Understanding with the National Gas Co. of Trinidad and Tobago Ltd., National Energy Corp. Ltd., Complejo Metalurgico Dominicano S.A., and Neal & Massy Holdings Ltd. to conduct a feasibility study for construction of a direct reduced iron (DRI) facility in Trinidad and Tobago.
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Cliffs to Sell Discontinued renewaFUEL Biomass Plant
Jan. 6, 2012 - Cliffs Natural Resources has reached agreement for the asset sale of its renewaFUEL biomass production facility to RNFL Acquisition LLC, an acquisition entity created by an investor group that includes renewaFUEL's minority partners.
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Worthington Reports Second Quarter Results
Jan. 6, 2012 - Worthington Industries, Inc. reported net sales of $570.4 million and net earnings of $18.5 million, or $0.27 per share, for its fiscal 2012 second quarter ended November 30, 2011, compared to last year's reported net sales of $580.7 million and net earnings of $14.5 million, or $0.20 per share.
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Nucor to Close Nuconsteel
Jan. 6, 2012 - Nucor announced plans to exit the business of fabricating light gauge steel framing and close its Nuconsteel division.
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