Steel RSS

  • Dearborn will be a plus for earnings, credit: AK Jul 21, 2014

    AK Steel Corp. expects its planned $700-million acquisition of OAO Severstal’s Dearborn, Mich., mill to be accretive to earnings and the firm’s credit line, according to its top executive.

  • Columbus buy cheaper than building mill: SDI Jul 21, 2014

    Steel Dynamics Inc.’s (SDI’s) $1.63-billion deal for OAO Severstal’s Columbus, Miss., mini-mill is "considerably below the cost and time frame of starting up a comparable greenfield facility," president and chief executive officer Mark D. Millett said.

  • SDI, AK buying Severstal US assets for $2.33B Jul 21, 2014

    Russian steelmaker OAO Severstal has agreed to sell its North American assets to Steel Dynamics Inc. (SDI) and AK Steel Corp. for a combined $2.33 billion, leaving the U.S. market after a decade establishing itself as an important domestic player.

  • NAS said unlikely to follow Aug. hike Jul 21, 2014

    North American Stainless Inc. (NAS) is not expected to follow stainless steel base price increases slated for August by Allegheny Technologies Inc. (ATI), according to market sources.

  • US drilling dips, Canada jumps Jul 21, 2014

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

  • Benxi declines to help US in wire rod case Jul 21, 2014

    Chinese steelmaker Benxi Beiying Iron & Steel Group Co. Ltd. and its corporate affiliates have declined to provide additional information to the U.S. Commerce Department in a subsidy and dumping investigation of carbon steel wire rod imports.

  • Essar plans coke battery repairs Jul 21, 2014

    Essar Steel Algoma Inc. will team with China’s Sinosteel Corp. to conduct through-wall repairs on one of its coke oven batteries, according to the company’s website.

  • McKinsey turnaround expert hired by Essar Jul 18, 2014

    Essar Steel Algoma Inc. retained McKinsey & Co. in June as it looked to restructure roughly a month before filing for Chapter 15 bankruptcy court protection, according to a company letter obtained by AMM.

  • Electrical steel industry cheers imports ruling Jul 18, 2014

    The domestic grain-oriented electrical steel industry praised the affirmative final ruling in an anti-dumping investigation of imports from three countries, but analysts warned that shifting end markets and continuing import penetration have dimmed the long-term outlook.

  • W. Coast flat-rolled tags may have hit bottom Jul 18, 2014

    Flat-rolled steel prices may have hit bottom on the West Coast as buyers speculate on the possibility of trade cases and price increases.

  • Impact of Essar's Ch. 15 filing said limited Jul 18, 2014

    Essar Steel Algoma Inc. customers said it was too early to judge the impact of the company’s Chapter 15 bankruptcy court petition on their operations as the steelmaker has had only a limited presence in the spot market this year.

  • Casablanca vetoes proposed Cliffs compromise Jul 18, 2014

    Activist hedge fund Casablanca Capital LP has rejected a compromise recommended by independent proxy advisor Institutional Shareholder Services Inc. (ISS) ahead of iron ore miner Cliffs Natural Resources Inc.’s annual meeting July 29.

  • Wire rod market split on price hikes holding Jul 18, 2014

    Wire rod price increases by major domestic mills could stick for August and beyond, although market participants are uncertain about whether the market will bear the higher tags indefinitely.

  • Nucor opposes anti-dumping system change Jul 18, 2014

    The implementation of a prospective anti-dumping duty system would lead to “abuse on a massive scale,” a top Nucor Corp. executive said in testimony before a U.S. Senate Committee on Appropriations Subcommittee on Homeland Security.

  • Integris said new owner of Bri-Chem steel pipe assets Jul 18, 2014

    Bri-Chem Corp. has sold its steel pipe manufacturing and distribution business to a U.S.-based steel company.

  • Evraz NA’s steel output dips; expects pickup Jul 18, 2014

    Evraz Inc. North America’s steel output fell 2 percent in the second quarter compared with the first three months of the year, but production is expected to pick up in the third quarter on strong demand and fewer outages.

  • Commerce issues final duties on GOES imports Jul 18, 2014

    The U.S. Commerce Department’s International Trade Administration has assessed final anti-dumping duty margins ranging from 78.1 to 241.91 percent on imports of grain-oriented electrical steel (GOES) from Germany, Japan and Poland.

  • Essar Steel Algoma files for Ch. 15 protection Jul 17, 2014

    Essar Steel Algoma Inc. has filed for Chapter 15 bankruptcy court protection as it looks to restructure from what it considers unsustainable debt and pension obligations.

  • Steel beam market steady, imports decline Jul 17, 2014

    Steel beam prices have remained steady as imports fail to put much pressure on domestic mill tags.

  • Magnetation raises $100M to fund expansion projects Jul 17, 2014

    Iron ore joint venture Magnetation LLC has closed a $100-million senior secured notes offering that will allow the company to complete iron ore expansion projects ahead of schedule and enable higher production capacity.

  • Southern energy tubular demand said booming Jul 17, 2014

    Southern energy tubular demand is said to be robust as line pipe projects are in the execution stage, while last week’s ruling in an oil country tubular goods (OCTG) trade case against nine countries has spurred some speculative buying, according to market sources.

  • TimkenSteel plans continuous heat-treat plant Jul 17, 2014

    TimkenSteel Corp. plans to open a $40-million continuous heat-treat facility in the U.S. “to produce more value-added steel for demanding applications,” the alloy steel producer said July 17.

  • Freight carrier sues Essar Steel Algoma Jul 17, 2014

    CSX Transportation Inc. is suing Essar Steel Algoma Inc. for allegedly failing to pay common carrier freight charges.

  • Steel sheet prices hold, but hikes expected Jul 17, 2014

    Steel sheet prices continued to hold steady this week, although market sources expect increases—perhaps imminently—in response to trade actions already undertaken or soon to be filed by U.S. mills.

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