Steel RSS

  • Casablanca scoffs at Cliffs’ latest offer Jul 02, 2014

    Cliffs Natural Resources Inc. has offered further concessions to Casablanca Capital LP in an effort to end a proxy contest that has been "costly and distracting," the company said July 2, but the activist hedge fund immediately dismissed the move.

  • Market downplays China wire rod ruling Jul 02, 2014

    The U.S. Commerce Department’s preliminary decision to levy countervailing duties on imports of Chinese wire rod could eventually stiffen competition between domestic and foreign mills but will have little short-term market impact, according to traders and market participants.

  • ArcelorMittal expands DOM production Jul 02, 2014

    ArcelorMittal Tubular Products Shelby LLC is investing $30 million to increase drawn-over-mandrel (DOM) output to meet high demand for the products.

  • Leggett & Platt to acquire Tempur assets Jul 01, 2014

    Diversified manufacturer Leggett & Platt Inc. has acquired Tempur Sealy International Inc.’s three U.S. innerspring component production facilities for $48 million, the companies said July 1.

  • ITA sets subsidies on China wire rod Jul 01, 2014

    The U.S. Commerce Department’s International Trade Administration (ITA) has imposed preliminary subsidy rates ranging from 10.3 to 81.36 percent on imports of carbon steel wire rod from China.

  • Line pipe tags up 0.4% in June to 2014 high Jul 01, 2014

    Line pipe prices reached the highest level thus far this year in June, with imports outpacing domestic gains.

  • Sonco Worldwide adds Griffin Supply to stable Jul 01, 2014

    Sonco Worldwide Inc. has acquired wholesale mechanical pipe and tube distributor Griffin Supply Inc. for an undisclosed price.

  • Falcon Steel files for Ch. 11 Jul 01, 2014

    Steel fabricator Falcon Steel Co. has filed for Chapter 11 bankruptcy protection, listing several tubular mills among its largest unsecured creditors, although the company expects to emerge from insolvency shortly.

  • Big River set to move ahead as financing closes Jul 01, 2014

    Big River Steel LLC has completed the financing needed to move forward with its planned $1.3-billion steel mini-mill in Mississippi County, Ark., which at least one analyst called a "pretty good play."

  • TimkenSteel begins trading as spinoff complete Jul 01, 2014

    TimkenSteel Corp. shares began trading on the New York Stock Exchange July 1 after its June 30 spinoff from Timken Co.

  • 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.

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