Steel

  • Essar negotiating with debt holders; delaying payment Jun 17, 2014

    Canadian flat-rolled steel producer Essar Steel Algoma Inc. has entered into confidential discussions with a number of its creditors, the company said June 17.

  • Severstal still bullish on North America Jun 17, 2014

    Russian steelmaker OAO Severstal remains bullish on the North American market and the prospects for its domestic assets despite the possible sale of its facilities in Dearborn, Mich., and Columbus, Miss.

  • Ukraine turmoil not hurting trade flow: execs Jun 17, 2014

    Trade flows from Ukraine have continued largely uninterrupted despite political tensions with Russia, according to steel trade executives.

  • China said fueling steel overcapacity growth Jun 17, 2014

    Global steel capacity is still expanding and outpacing steel demand growth, the top executive of the American Iron and Steel Institute (AISI) told AMM, citing recent talks at a meeting of the Organization for Economic Cooperation and Development’s (OECD’s) steel committee.

  • Developed nations will drive demand: Mittal Jun 17, 2014

    The face of the global steel industry is changing, with demand increasingly expected to come from developed instead of developing countries, according to the top executive of the world’s largest steelmaker.

  • Greenfield projects not viable, Mittal says Jun 17, 2014

    ArcelorMittal SA won’t pursue greenfield projects or significant merger-and-acquisition activity, given the glut of steel capacity worldwide, the company’s top executive said.

  • SDI sees good times rolling in 2d qtr. Jun 17, 2014

    Steel Dynamics Inc. (SDI) expects improved demand to fuel a jump in second-quarter earnings despite an increase in imports.

  • ArcelorMittal kicking tires at Ilva steel plant Jun 17, 2014

    ArcelorMittal SA has been invited by the Italian government to look at Ilva SpA’s steel plant in Taranto, Italy, the company’s top executive said June 17.

  • SSAB increases plate product prices Jun 17, 2014

    SSAB Americas has increased plate prices by $30 to $50 per ton ($1.50 to $2.50 per hundredweight), depending on the product.

  • Ventures may ease trade cases, execs say Jun 17, 2014

    Joint ventures such as Valin ArcelorMittal Automotive Steel Co. Ltd. (Vama) could lead to fewer trade cases being filed in the historically contentious iron and steel sectors, according to some steel trade executives.

  • US raw steel output inches up 0.3 percent Jun 17, 2014

    U.S. raw steel output totaled an estimated 1,850,000 net tons last week, up 0.3 percent from 1,845,000 tons the previous week, as mills operated at an average capacity utilization rate of 76.9 percent.

  • Analyze this: fighting low-quality scrap Jun 16, 2014

    Daniel Pflaum, president of Dayton, Ky.-based Gamma-Tech, continues to lament the industry’s use of visual inspection for scrap. In this conversation with AMM, he details his push for wider adoption of the belt analyzer and what changes his company could bring to the industry.

  • Three injured in explosion at Republic facility Jun 16, 2014

    An explosion at Republic Steel Co.’s Lorain, Ohio, plant injured three workers, according to a local fire official.

  • Transport rates said set to accelerate Jun 16, 2014

    Transportation rates charged by logistics specialists are likely to increase significantly in coming years on the back of new trucking regulations and strained transport capacity, according to two logistics executives.

  • American Alloy, Moore will appeal suit: lawyer Jun 16, 2014

    Steel product supplier American Alloy Steel Inc. and company president Arthur J. Moore plan to file an appeal of a lawsuit that accused them and a number of steel companies and service centers of trying to drive MM Steel LP out of business.

  • China cold-rolled sheet prices steady Jun 16, 2014

    Chinese cold-rolled steel sheet prices on the West Coast remain flat to slightly down from previous offers as imports so far appear to be running ahead of 2013.

  • Repairs to USS Gary Works furnace continue Jun 16, 2014

    The No. 8 furnace at U.S. Steel Corp.’s Gary Works in northwest Indiana remains out of commission after an unplanned outage earlier this month.

  • ATI kicks off stainless increases for July Jun 16, 2014

    Allegheny Technologies Inc. (ATI’s) Flat Rolled Products segment is poised to boost stainless steel base prices across a variety of products in early July, a move that if followed by other major domestic producers would represent the third such move industrywide within four months.

  • Central Steel accuses former exec of taking data Jun 16, 2014

    Central Steel & Wire Co. employees have been told to watch for indications that a former executive may have exploited the company’s confidential trade data, according to an internal memo obtained by AMM.

  • Nucor unit cuts low-carbon wire rod prices Jun 16, 2014

    The Connecticut division of Nucor Corp.’s bar mill group is lowering transaction prices for low-carbon wire rod by $5 per ton effective July 1.

  • Timken ready for new start with spinoff of steel business Jun 16, 2014

    Timken Co.’s spinoff of its steel business into a separate entity is scheduled for June 30, with common shares of the new TimkenSteel Corp. to be distributed "near day’s end," the company said.

  • US drilling slips, Canada jumps Jun 16, 2014

    The number of drill rigs running in the United States fell by six last week.

  • Canada probes rebar imports Jun 16, 2014

    The Canada Border Services Agency (CBSA) has begun an investigation into alleged dumping and subsidizing of certain rebar products from China, South Korea and Turkey.

  • Lawmakers seek reversal of ITA decision on Korea OCTG Jun 13, 2014

    More than 150 members of the U.S. House of Representatives are opposing an initial decision by the U.S. Commerce Department’s International Trade Administration (ITA) not to impose anti-dumping duties on oil country tubular goods from South Korea, according to a June 13 letter to Commerce Secretary Penny Pritzker.

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