Steel RSS

  • PTC Alliance faces stalking horse objections (UPDATE) Dec 22, 2009

    PTC Alliance Corp. is favoring its stalking horse as the best bidder at an auction of the company’s assets, although the sale hearing will continue on Jan. 4 to resolve objections surrounding the bid, the company said late Monday.

  • Severstal Wheeling coating line restarting Dec 22, 2009

    To reflect increased customer orders for coated light flat-rolled steel products, the Martins Ferry, Ohio, coating line of Severstal Wheeling will return to operation Jan. 25, the company said Tuesday.

  • Severstal Wheeling coating line restarting Dec 22, 2009

    To reflect increased customer orders for coated light flat-rolled steel products, the Martins Ferry, Ohio, coating line of Severstal Wheeling will return to operation Jan. 25, the company said Tuesday.

  • Scrap recovery sustainable after brief retreat: CMC Dec 22, 2009

    Commercial Metals Co.’s Americas Recycling division posted operating income of $94,000 during the fiscal first quarter ended Nov. 30, a vast improvement from the $28-million operating loss registered in the same quarter last year, on shipments that improved 4.4 percent to 588,000 short tons and revenue that grew 11.2 percent to $289.5 million.

  • China to drive steel demand growth: CMC Dec 22, 2009

    China will be a catalyst for global steel demand and pricing next year, based on a projected 9- to 10-percent growth in gross domestic product (GDP) and an infrastructure stimulus program expected to last two years, according to Commercial Metals Co.’s (CMC’s) top executive.

  • CMC sees one more tough qtr. after $32.1M fiscal 1st-qtr. net loss [UPDATE] Dec 22, 2009

    Commercial Metals Co. reported a net loss of $31.2 million in its fiscal first quarter ended Nov. 30, in contrast to net income of $62 million in the same period last year, on sales that fell 39 percent to nearly $1.45 billion from $2.37 billion.

  • Ex-Noble president Parson joins Shiloh Dec 22, 2009

    Craig S. Parson has been appointed vice president of sales and business development at Shiloh Industries Inc., a steel toll processor and automotive sheet blank maker.

  • Midrex DRI plant slated for India Dec 22, 2009

    Jindal Steel & Power Ltd. will construct a 1.8-million-ton-per-year coal gasification-based Midrex direct-reduced iron (DRI) plant in Angul, in India’s Orissa state.

  • Rod mill Sterling Steel getting new coil handling system Dec 22, 2009

    Steel spring supplier Leggett & Platt Inc. has ordered a coil handling system for wire rod mill division Sterling Steel LLC.

  • Dietrich shutting framing plant in Illinois Dec 22, 2009

    Steel stud maker Dietrich Metal Framing will shut its Joliet, Ill., facility by the end of next week, the fifth Dietrich facility to be closed or idled within the past year due to the severe downturn in the construction market.

  • CMC posts $31.2M loss in fiscal 1st qtr. as sales slide Dec 22, 2009

    Commercial Metals Co. (CMC) reported a net loss of $31.2 million in its fiscal first quarter ended Nov. 30, in contrast to net income of $62 million in the same period last year, on sales that fell 39 percent to nearly $1.45 billion from $2.37 billion.

  • ArcelorMittal USA operation sues lime supplier Dec 22, 2009

    ArcelorMittal USA’s Burns Harbor, Ind., operation is suing a Plainfield, Ill.-based quick dolomite lime supplier for $1.5 million, alleging that even though it partially prepaid an order it never received any shipments.

  • Iron Ore Co. of Canada’s Bowles to retire from helm Dec 22, 2009

    The top executive at Rio Tinto’s Iron Ore Co. of Canada (IOC) is stepping down from his post at the iron ore pellet manufacturer.

  • Northeast Metal Traders’ suit claims trademark violations Dec 22, 2009

    A Philadelphia scrap company is suing a Jersey City, N.J.-based competitor for allegedly infringing on its trademark and common law rights by using its name to attract customers.

  • Gerdau Ameristeel, Evraz NA secure financing Dec 22, 2009

    Gerdau Ameristeel Corp. and Russia’s Evraz Group SA have each secured new financing.

  • SBI Trading names Gordon to head up service centers Dec 21, 2009

    SBI Trading Co., which recently purchased much of the service center assets of bankrupt Crucible Materials Corp., Syracuse, N.Y., has appointed Peter Gordon president of SB Crucible Specialty Steel Inc., the newly renamed service centers.

  • China PC strand facing high margins Dec 21, 2009

    Chinese producers and exporters of pre-stressed concrete (PC) steel wire strand have sold the product at less than fair value in the United States, the U.S. Commerce Department said in a preliminary anti-dumping duty determination.

  • China PC strand facing high margins as Commerce makes preliminary determination Dec 21, 2009

    Chinese producers and exporters of pre-stressed concrete (PC) steel wire strand have sold the product at less than fair value in the United States, the U.S. Commerce Department said in a preliminary anti-dumping duty determination.

  • Tonawanda Coke facility raided by federal agents Dec 21, 2009

    Federal agents conducted a raid at Tonawanda Coke Corp. late last week but the details surrounding the case are not being released.

  • Tonawanda Coke raided by federal agents Dec 21, 2009

    Federal agents conducted a raid at Tonawanda Coke Corp. late last week but the details surrounding the case are not being released.

  • PTC Alliance opts for stalking horse amid objections Dec 21, 2009

    PTC Alliance Corp.’s stalking horse bidder has submitted the best bid at an auction of the company’s assets, but the sale hearing will continue on Jan. 4 to resolve objections surrounding the bid, it said late Monday.

  • West Coast tubing makers set hikes despite lull in demand Dec 21, 2009

    Despite the continuing failure of end markets to show improvement, West Coast producers of structural steel tubing are going along with mills east of the Rockies in posting price hikes as they apparently place their hopes on a post-New Year turnaround.

  • West Coast tubing makers set hikes despite lull in demand Dec 21, 2009

    Despite the continuing failure of end markets to show improvement, West Coast producers of structural steel tubing are going along with mills east of the Rockies in posting price hikes as they apparently place their hopes on a post-New Year turnaround.

  • City proposing 5-year tax break for Gerdau Ameristeel Dec 21, 2009

    A request by Gerdau Ameristeel Corp. has led a city councilman in Jacksonville, Fla., to introduce a bill to grant the company a public service tax exemption for five years.

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