Steel RSS

  • US raw steel production slips 0.9 percent Jul 01, 2014

    U.S. raw steel output totaled an estimated 1,863,000 net tons last week, down 0.9 percent from 1,880,000 tons the previous week, as mills operated at an average capacity utilization rate of 77.5 percent.

  • CBSA finds evidence of rebar dumping Jun 30, 2014

    The Canada Border Services Agency (CBSA) has found evidence of dumping and subsidizing in its preliminary investigation of certain rebar products from China, South Korea and Turkey.

  • U.S. Steel dropped from S&P 500 index Jun 30, 2014

    U.S. Steel Corp. is being dropped from the S&P 500 index because its market capitalization is too small.

  • Cliffs amends $1.75-billion credit facility Jun 30, 2014

    Cliffs Natural Resources Inc. has amended its $1.75-billion revolving credit facility, allowing for "substantial financial flexibility" at a time of volatile raw materials prices, the company said June 30.

  • USS boosts flat-rolled products Jun 30, 2014

    U.S. Steel Corp. has increased flat-rolled steel product base prices by $25 per ton ($1.25 per hundredweight) for all new spot orders effective immediately.

  • Midwest scrap market divided on July prices Jun 30, 2014

    Midwest steel mills likely will push for an unchanged ferrous scrap market in July despite pressure from suppliers for higher prices.

  • USS set to meet with Canadian unions Jun 30, 2014

    U.S. Steel Corp. has requested a meeting July 2 with United Steelworkers union locals representing its facilities in Canada.

  • Stainless steel base price push drawing flak Jun 30, 2014

    Domestic stainless mills appear to be pushing to change decade-old published base prices, a sign of market strength, but the move has some distributors up in arms.

  • Holiday notice Jun 30, 2014

    AMM’s offices will be closed Friday, July 4, in observance of Independence Day, and there will be no issue that day. The New York Mercantile Exchange also will be closed Friday. The London Metal Exchange will be open, and AMM will publish the LME’s July 4 prices in the July 8 issue.

  • South Korea’s trade minister weighs in on dumping case Jun 30, 2014

    South Korean Minister of Trade, Industry and Energy Yoon Sang-jick has called on the U.S. Commerce Department to make its final determination in an ongoing oil country tubular goods (OCTG) dumping investigation in a "fair and objective way."

  • US drilling climbs, Canada falls Jun 30, 2014

    The number of drill rigs running in the United States increased by 15 last week.

  • American Alloy, Moore file appeal in MM Steel case Jun 27, 2014

    American Alloy Steel Inc. and president Arthur J. Moore have filed an appeal in an antitrust case that saw several steelmakers and service centers hit with $156 million in damages, according to court documents.

  • Ohio regulator to consider Warren rate plea Jun 27, 2014

    The Public Utilities Commission of Ohio (PUCO) has agreed to consider Warren Steel Holdings LLC’s bid for a lower power rate.

  • CMC earnings up, but miss analyst forecasts Jun 27, 2014

    Commercial Metals Co.’s (CMC’s) earnings rose 24.3 percent in its fiscal third quarter this year on slightly higher quarterly sales of $1.8 billion.

  • Schnitzer sees iron ore prices rallying Jun 27, 2014

    Iron ore prices are more likely to recover in the coming months since a tighter supply of scrap has left very little room to for iron ore tags to trend lower, according to Schnitzer Steel Industries Inc.’s top executive.

  • HR sheet outlook split, prices dip Jun 27, 2014

    Hot-rolled sheet prices edged down this past week, but some market sources noted an increasingly divergent pattern developing in the Midwest and closer to the coasts.

  • Commerce delays final NOES decision Jun 27, 2014

    The U.S. Commerce Department has postponed the deadline for the final determination in its anti-dumping duty investigation of non-oriented electrical steel (NOES) imports from China, Germany, Japan and Sweden.

  • Varsteel acquires Evraz NA cut-to-length unit Jun 27, 2014

    Varsteel Ltd. has acquired Evraz Inc. North America’s cut-to-length operation in Regina, Saskatchewan, for an undisclosed amount.

  • S&P lowers Essar Steel Algoma credit rating Jun 27, 2014

    Standard & Poor’s Ratings Services (S&P) has downgraded Essar Steel Algoma Inc.’s credit to "CCC-" from "CCC+" after the company opted against making a June 16 interest payment on its $385 million in unsecured notes.

  • Casablanca outlines plan for Cliffs Jun 26, 2014

    Battle lines for control of Cliffs Natural Resources Inc. have deepened, with activist investor Casablanca Capital LP outlining its most detailed reorganization plan to date for the largest U.S. iron ore mining company.

  • Outokumpu lifts stainless tags; mart skeptical Jun 26, 2014

    Outokumpu Stainless USA LLC has jumped on board a push to raise stainless prices, but market players remain skeptical that the increases will stick without backing from industry leader North American Stainless Inc. (NAS).

  • Schnitzer revenue falls amid lower scrap prices Jun 26, 2014

    Schnitzer Steel Industries Inc. recorded higher domestic ferrous scrap sales during its fiscal third quarter while export volumes fell, but the shift in destinations was unable to prevent total revenue from its ferrous sales from falling 16.8 percent compared with a year earlier.

  • Stronger sales lift Worthington profits Jun 26, 2014

    Worthington Industries Inc.’s net income increased 10.9 percent in its fiscal year despite a 1.1-percent dip in the last three months of the year.

  • O’Neal, Leeco win $117M in fraud suit Jun 26, 2014

    Service center operators O’Neal Steel Inc. and Leeco Steel LLC have prevailed in their 2011 lawsuit against two steel suppliers and their owners alleging fraud, misrepresentation, negligence and breach of contract and warranty.

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