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Nucor-Yamato Steel Co. is a step closer to procuring local financing for a planned expansion at its Blytheville, Ark., facility.
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Nucor Corp.’s disappointing first-quarter earnings reflected an overall weakness in the steel sheet market that will likely last into 2013, but improving demand for long products could make up for it, a top executive told investors on a conference call.
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ArcelorMittal SA has filed two more lawsuits against AK Steel Corp., Severstal Dearborn Inc. and Wheeling-Nisshin Inc. for allegedly infringing on its patent for aluminized boron steel sheet products, continuing a legal battle that is now more than three years old.
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"Minor" unplanned outages led to a drop in first-quarter crude steel production at Evraz Plc’s North American operations, the company said, although it expects to reach its targeted output in the second quarter as "technical issues" at the steelmaker’s plants have now been resolved.
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While the steel market is clouded by uncertainty, positive indicators in construction and continued strength in automotive point to brighter prospects for the future, the top executive at Steel Dynamics Inc. (SDI) said.
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Insteel Industries Inc. posted net income of $3.71 million in its fiscal second quarter, up sharply from $262,000 in the same period last year, which the company attributed to widening spreads between selling prices and raw material costs.
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Just days after ArcelorMittal USA LLC’s announcement that it would no longer accept new agreements based on a discounted CRU index price, a number of major domestic sheet mills have jumped on board in a commitment to halt erosion of already thin margins.
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U.S. imports of steel beam products are on split paths so far this month, with wide-flange material poised to arrive at a brisker pace while standard beams lag March levels.
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Weeks before Andrew Mackenzie takes over as chief executive officer of global miner BHP Billiton Plc, the company has announced a major senior management reshuffle that brings operations closer to the top office.
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Russian steelmaker OAO Severstal will not develop its Amapá iron ore project in Brazil "in the near term," senior vice president of corporate development Thomas Veraszto told AMM sister publication Steel First.
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Nucor Corp.’s net income plunged nearly 42 percent in the first quarter as the steelmaker failed to experience the typical seasonal uptick in volumes and pricing.
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Severstal North America Inc. has set new minimum base prices for its flat-rolled steel products and vowed to halt selling against a discounted CRU index price, according to an April 17 letter to customers.
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Steel Dynamics Inc. posted first-quarter net income of more than $48.2 million, up 5.6 percent from nearly $45.7 million in the same period last year but down 20.4 percent from $60.6 million in the final three months of 2012.
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Optima Specialty Steel Inc. has named David A. Pryzbylski chief administrative officer, the company said April 17.
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Royal Bearing Inc. has bought the bearings inventory of the defunct Sparrows Point, Md., steel mill.
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SGL Group will invest $26 million in a new “state of the art” graphitization process at its graphite electrode production facility in Ozark, Ark., the company said April 17.
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Outokumpu Oyj has secured a contract to supply 60 tonnes of lean duplex stainless hot-rolled black bar to the Crescent Dunes solar plant project in Tonopah, Nev.
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U.S. steel mill shipments totaled 7.44 million net tons in February, down 9.4 percent from 8.21 million tons in January and off 11.5 percent from nearly 8.41 million tons in February 2012, American Iron and Steel Institute data show.
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Essar Steel Algoma Inc. parent company Essar Steel Holdings Ltd. will provide $50 million in credit support to reinforce the flat-rolled steelmaker’s liquidity position, it said.
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ArcelorMittal USA LLC’s announcement that it will cease selling hot-rolled steel priced off a discount to CRU Group’s index could see strong support from other steelmakers, sources said.
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NanoSteel Co. Inc. has settled its trademark infringement lawsuit against VirinaSteel, formerly known as Green Nano Steel, as VirinaSteel prepares to sell high-strength steel products in the United States.
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Distributor shipments of stainless steel products in the United States totaled 145,600 tons in March, down 7.1 percent from 156,700 tons in the same month last year but up 1.8 percent from February’s 143,000 tons, according to Metals Service Center Institute (MSCI) data.
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The Commerce Department’s International Trade Administration (ITA) will initiate an anti-dumping duty investigation on imports of diffusion-annealed nickel-plated steel flat products from Japan.
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Lourenco Goncalves’ retirement from the steel sector brings to an end a career that spanned more than three decades and multiple continents, and witnessed numerous changes in an evolving metals industry.