Steel RSS

  • 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.

  • Nucor boosting wire rod $15/T Jul 17, 2014

    Nucor Corp.’s Connecticut division is raising prices on all wire rod products by $15 per ton effective Aug. 1, the company said in a July 16 letter to customers.

  • Higher shipments boost Insteel earnings Jul 17, 2014

    Insteel Industries Inc.’s earnings jumped in its fiscal third quarter on an improvement in shipments, higher spreads between selling prices and raw material costs and lower unit conversion costs.

  • USS customer service said moved to Ontario Jul 17, 2014

    U.S. Steel Corp. has moved customer service for its Canadian operations back to Hamilton, Ontario, from Pittsburgh, according to sources familiar with the matter.

  • SDI closes books for some flat-rolled Jul 17, 2014

    Steel Dynamics Inc. (SDI) has closed its books for most flat-rolled products from its operations in Butler, Ind., and Jeffersonville, Ind., according to customer letters.

  • Steel shipments jump on strength in autos Jul 16, 2014

    The summer doldrums may be less dull than usual this year as service center shipments ramp up due to customer restocking and improved demand from the automotive sector.

  • West Coast structural tubing prices slide Jul 16, 2014

    West Coast structural steel tubing prices have fallen about $20 per ton ($1 per hundredweight) over the past six weeks, but demand appears to be holding up and preliminary dumping duties on imports of other tubular products have so far not scared off South Korea, the region’s largest offshore source.

  • Lawmakers claim imports pared OCTG profits Jul 16, 2014

    Domestic oil country tubular goods (OCTG) producers’ earnings have been crimped by dumped imports at a time when they should be booming, U.S. lawmakers said during a public hearing before the U.S. International Trade Commission (ITC) July 15.

  • Steel still on top despite Camry shift: SMDI Jul 16, 2014

    Automotive steel proponents said that the material is in wide use today and should remain so due to its superior cost-benefit breakdown, despite reports that Toyota Motor Corp. is intensifying the use of aluminum in its 2018 Camry.

  • Essar Steel Algoma to get $300M from parent Jul 16, 2014

    Essar Steel Algoma Inc. is slated to receive a $300-million cash infusion from its parent company to pay down debt and strengthen its balance sheet.

  • Ex-Harsco exec says US wrong country to try suit Jul 16, 2014

    A judge in Harsco Corp.’s trade secrets violation lawsuit is considering the defendants’ claim that the dispute would be more fitting for a courtroom in England rather than the United States.

  • Blaze knocks out power at High Steel plant Jul 16, 2014

    Full operations at one of High Steel Structures LLC’s plants in Lancaster, Pa., likely won’t resume until July 21 after the facility suffered an electrical fire that knocked out power to two fabrication bays, a company official said.

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