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Taiwan’s China Steel Corp. plans to spend $62.46 million to acquire a 19-percent stake in Sakura Ferroalloys Sdn Bhd, a project in the Malaysian state of Sarawak, the company said June 19.
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U.S. and Canadian service centers recorded drops in both steel shipments and inventories in May as market players questioned the ability of domestic mills to stick to their guns on recently announced price moves.
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Alita USA is planning to spend $120 million to build a welded oil country tubular goods (OCTG) mill in the United States capable of producing 150,000 tonnes of finished product annually, according to president and chief executive officer Ali Hosseini.
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Skyrocketing overcapacity in the steel sector continues to be one of the U.S. industry’s main challenges, particularly as weak trade laws and lax enforcement encourage many foreign mills to send unfairly traded volumes stateside, a top U.S. Steel Corp. executive said.
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Steel importers must offer more risk management services to customers in order to compete with domestic suppliers, members of the board of the American Institute for International Steel (AIIS) said during an AMM-led roundtable at the Steel Success Strategies XXVIII conference in New York.
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China’s steel industry is in a "calamitous situation" as its era of breakneck growth comes to an end and demand by 2015 "may not be much changed from 2013," an industry analyst said at the Steel Success Strategies XXVIII conference in New York.
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FlexSteel Pipeline Technologies Inc. says that demand for its line pipe products has grown this year despite a softer overall market.
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Allied Tube & Conduit Corp.’s performance has improved so far this year across its end markets serving the nonresidential construction sector, although the sector’s overall recovery remains subdued, according to Steve Robins, vice president of strategic sourcing at parent company Atkore International Holdings Inc.
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Steelmaking overcapacity could be addressed by an independent group that would assess which mills should be shuttered on the basis of national need and company performance, the top executive of Mexico’s largest integrated steel producer proposed.
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Transportation and logistics providers are working to develop cost-saving innovations for the metals industry, several executives said during a workshop at the Steel Success Strategies XXVIII conference in New York sponsored by AMM and World Steel Dynamics Inc.
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New technologies and cheaper energy are driving a revival in alternative iron units, such as direct-reduced iron (DRI) and hot-briquetted iron (HBI), according to panelists at the Steel Success Strategies XXVIII conference in New York.
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Nucor Corp.’s scrap surcharge on special bar quality (SBQ) products will remain unchanged in July at $10.50 per hundredweight ($210 per ton), the Charlotte, N.C.-based steelmaker said in a June 14 notice to customers.
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Japan’s Topy Industries Ltd. is investing $13 million in a steel vehicle wheel plant in Mexico.
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U.S. raw steel output totaled an estimated 1,870,000 net tons last week, up 1 percent from 1,851,000 tons the previous week, as mills operated at an average capability utilization rate of 78.1 percent.
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Proceeds from ArcelorMittal SA’s sale of a 15-percent stake in its Canadian unit will be used to fund the expansion of its iron ore mining operations in Liberia, the company told AMM sister publication Steel First.
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The North Carolina Senate is set to vote on a bill that will determine the use of certain green building rating systems in the state.
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The majority of flat and long steel traders expect U.S. imports to hold steady or decline over the next two months, according to an American Institute for International Steel (AIIS) survey.
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U.S. mills shipped some 7.98 million net tons of steel in April, up 0.7 percent from 7.92 million net tons the previous month but down 3.2 percent from 8.25 million net tons in the year-ago period, according to data from the American Iron and Steel Institute.
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AK Steel Corp. expects to post a bigger second-quarter net loss due to a planned blast furnace outage at one of its facilities, lower selling prices for carbon flat-rolled products and several tax expenses. However, the company expects pricing to improve in coming months.
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Friedman Industries Inc.’s net income fell in its fiscal year ended March 31 on the back of a sharp drop in fourth-quarter earnings.
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Specialty and stainless steel alloy producer Electralloy will temporarily shut down its Oil City, Pa., melt shop and Titusville, Pa., wrought products facility from July 21 to July 28 for annual maintenance.
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Severstal North America Inc. has introduced new firm pricing options for quarterly and six-month spot buying of sheet products.
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The United States and several other countries have agreed to work with the West African country of Guinea to improve transparency in its extractive industries.
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The West Coast has joined the latest round of flat-rolled steel price hikes, with California Steel Industries Inc. (CSI) raising tags effective June 14.