Steel RSS

  • Crucible opts for quarterly stainless bar surcharges Dec 17, 2010

    Crucible Industries LLC will switch to a quarterly surcharge for its stainless bar products as of Jan. 1, Dan O’Leary, the company’s national sales manager, told AMM.

  • Flat-roll tag hikes ignite distributor buying frenzy Dec 17, 2010

    Low U.S. flat-rolled stocks—especially among service centers that traditionally consume at least 35 percent of all domestic output—has cemented the flurry of recent price hikes that will continue over the next two weeks, sources say.

  • Commerce looks to revise anti-dumping duty reviews Dec 17, 2010

    The U.S. Commerce Department is considering revising how it imposes anti-dumping duties, particularly for companies in non-market economy countries, including—but not limited to—China.

  • SDI increases wide-flange beams Dec 17, 2010

    Steel Dynamics Inc. (SDI), Fort Wayne, Ind., has raised transaction prices on wide-flange beams by $45 per ton effective with orders Dec. 19. Orders placed before Dec. 19 will be price protected provided they ship before Jan. 1.

  • Hearing set for Severstal, USW Dec 17, 2010

    A West Virginia circuit court judge has set a Dec. 22 hearing date for a case brought against Severstal North America, Dearborn, Mich., by the United Steelworkers union.

  • Severstal’s US plans ebb as India flows Dec 17, 2010

    Severstal North America’s plans to sell three U.S. steel plants have shown little movement, but that hasn’t slowed its parent company from moving ahead with international growth plans, much to the chagrin of some U.S. constituents.

  • Brazilian crude steel output down in November Dec 17, 2010

    Brazilian crude steel production totaled 2.59 million tonnes in November, down 11.2 percent from 2.92 million tonnes in October and 2.8 percent below the year-earlier 2.67 million tonnes, Instituto Aço Brasil (IABr), the national steel institute, said Thursday. Rolled steel output totaled 2.1 million tonnes in November, down 9.1 percent from the prior month but up 5.3 percent year on year. Crude steel output so far this year increased 27 percent year on year to 30.4 million tonnes, while rolled steel production gained 32.5 percent to 24.1 million tonnes.

  • ArcelorMittal Stainless sees operating income off in quarter Dec 17, 2010

    ArcelorMittal Stainless will record significantly lower operating income in the fourth quarter compared with its third-quarter results, the company said. The company’s management also expects noticeably lower operating income in the second half of the year compared with the first half, it added. This was mainly due to steep declines in sales and margins caused by seasonal factors, coupled with a temporary destocking in stainless steel, according to the company, part of Luxembourg-based ArcelorMittal SA. Operating income for the third quarter this year was $29 million, or $66 per tonne. Earnings before interest, taxes, depreciation and amortization (Ebitda) for the same period was at $103 million. Shareholders are due to vote Jan. 25 on plans to spin off the stainless steel division.

  • Steel mill shipments mixed in October Dec 17, 2010

    U.S. steel mill shipments eased again in October vs. September but still remained ahead of the year-ago pace. Steel mills shipped more than 6.6 million net tons during the month, down 7.2 percent from a month-earlier 7.1 million tons but 8.7 percent above the nearly 6.1 million tons shipped in October 2009, according to data from the American Iron and Steel Institute, Washington. U.S. steel mill shipments for the first 10 months of the year rose 42.7 percent to almost 69.8 million tons from a year-earlier 48.9 million tons, and would annualize at about 83.7 million tons. That’s 34.6 percent above the year-earlier 62.2 million tons. A month-on-month comparison shows flat-rolled product shipments down sharply, with hot-dip galvanized sheet and strip off 11 percent, hot-rolled sheet falling 10 percent and cold-rolled sheet down 9 percent.

  • Insteel moving Delaware operations to Pa. Dec 17, 2010

    Wire rod drawer Insteel Industries Inc. said Friday it would close its Wilmington, Del., facility and move the manufacturing operations to a plant in Hazelton, Pa., as part of efforts to consolidate its business. The move will result in a net reduction of 34 jobs—49 jobs will be eliminated from the Wilmington site and 15 positions added at Hazelton. The latter was acquired as part of Insteel’s recent purchase of the assets of Ivy Steel & Wire Inc. Operations at Wilmington are expected to wrap up by the end of March. Equipment will be removed from the plant and redeployed at other Insteel operations, the company said. Insteel said earlier this month it would consolidate its Texas manufacturing activities at its Dayton, Texas, plant and would cease operations at a leased facility in Houston by the end of February (AMM, Dec. 10). While it expects to pursue additional cost-reduction initiatives in the future, the Mount Airy, N.C.-based company said it anticipates no additional plant closings.

  • Byer Steel buys fabricator Gastrich Re-Bar Dec 17, 2010

    Byer Steel Group has acquired rebar fabricator Gastrich Re-Bar Inc., a move the company said will complement and add to its current customer base.

  • Commerce looks to revise anti-dumping duty reviews Dec 17, 2010

    The U.S. Commerce Department is considering revising how it imposes anti-dumping duties, particularly for companies in non-market economy countries, including—but not limited to—China.

  • Hearing set for Severstal NA, USW Dec 17, 2010

    A West Virginia circuit court judge has set a Dec. 22 hearing date for a case brought against Severstal North America, Dearborn, Mich., by the United Steelworkers union.

  • Insteel shutting Del. plant, moving operations to Pa. Dec 17, 2010

    Wire rod drawer Insteel Industries Inc. said Friday it would close its Wilmington, Del., facility and move the manufacturing operations to a plant in Hazelton, Pa., as part of efforts to consolidate its business.

  • Severstal US mill sale plans ebb as Indian growth flows Dec 17, 2010

    Severstal North America’s plans to sell three U.S. steel plants have shown little movement, but that hasn’t slowed its parent company from moving ahead with international growth plans, much to the chagrin of some U.S. constituents.

  • Byer Steel Group acquires fabricator Gastrich Re-Bar Dec 17, 2010

    Byer Steel Group has acquired rebar fabricator Gastrich Re-Bar Inc., a move the company said will complement and add to its current customer base.

  • US steel mill shipments mixed in October Dec 17, 2010

    U.S. steel mill shipments eased again in October vs. September but still remained ahead of the year-ago pace.

  • SDI lifts wide-flange beam prices Dec 16, 2010

    Steel Dynamics Inc. will raise transaction prices on wide-flange beams by $45 per ton with orders on Dec. 19. The move by Steel Dynamics’ (SDI’s) Structural and Rail division in Columbia City, Ind., follows a similar move by Tampa, Fla.-based Gerdau Ameristeel Corp. that was effective on Dec. 13 and is in addition to a $20 per ton hike implemented earlier by SDI.

  • Nucor, SDI forecasts fall short of Wall Street estimates Dec 16, 2010

    A rapid fourth-quarter run-up in scrap and steel prices won’t be enough to boost earnings during the period for two of the nation’s leading electric furnace steel producers.

  • Steel industry wins fight to overturn federal Buy America waiver Dec 16, 2010

    The Federal Highway Administration (FHWA) has removed a Buy America waiver for steel pipe needed for a sign support structure in Allegheny County, Pa.

  • North American aluminum shipments recede in Nov. Dec 16, 2010

    Aluminum shipments by North American distributors fell for the third consecutive month in November despite distributors’ reports of stronger-than-expected sales across most end-use sectors.

  • West Coast flat-roll pricing benchmark out of whack Dec 16, 2010

    The current steel price run-up appears to have thrown a time-honored pricing benchmark on the West Coast out of whack, at least temporarily.

  • Steel analyst and journalist Stundza dies unexpectedly Dec 16, 2010

    Thomas J. Stundza, a senior commodities analyst with IHS Global Insight’s Pricing and Purchasing Service since late August and a former AMM editor, died unexpectedly Wednesday. He was 63.

  • Former Kelly Pipe executive dies Dec 16, 2010

    Steel pipe industry veteran George LaBollita has died at the age of 73.

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