Steel News

Finished Steel Imports Up 11% in April

03 May 2012 - Total steel import permit applications reached 3,074,000 net tons for the month of April, a 5% decrease from the 3,248,000 permit tons recorded in March according to the latest report from AISI. Import tonnage for finished steel was up 11% over the same period.

Russel Metals Completes Acquisition of Siemens Laserworks

02 May 2012 - Russel Metals Inc. has completed its acquisition of Siemens Laserworks Inc., a value-added laser processing company with trailing twelve months revenues of $33 million.

Northwest Pipe Reports Full Year 2011 Results

02 May 2012 - Northwest Pipe Co. announced its 2011 financial results including record revenues in 2011 and a return to profitability. Net sales for the year ended December 31, 2011 increased 32.3% to $511.7 million compared to $386.8 million in the prior year.

Reliance Completes Acquisition of Worthington Steel Vonore Assets

02 May 2012 - Reliance Steel & Aluminum Co., through its wholly owned subsidiary Precision Strip, Inc., has completed the acquisition of the assets of the Worthington Steel Vonore plant, a processing facility owned by Worthington Industries, Inc.

Worthington Announces Succession Plan for President & COO Steel

30 April 2012 - Worthington Industries, Inc. announced that Mark A. Russell will become the next President and Chief Operating Officer of the company, effective Aug. 1, 2012, replacing George P. Stoe. Geoff G. Gilmore will replace Russell becoming the next president of Worthington Steel also on Aug. 1.

Timken Posts Record First Quarter, Raises Full-Year Outlook

27 April 2012 - The Timken Co. reported record sales of $1.4 billion in the first quarter of 2012, an increase of 13% over the same period a year ago. The company also generated record income of $155.7 million, or $1.58 per diluted share, compared with $112.7 million, or $1.13 per diluted share, a year ago.

Preliminary Steel Imports Up 7% in March

26 April 2012 - The U.S. imported a total of 2,899,000 net tons of steel in March, up 7% from February final data according to the latest report AISI. Finished steel imports were up 4% through the same period.

AK Steel Reports Financial Results for First Quarter of 2012

26 April 2012 - AK Steel reported a net loss of $11.8 million on net sales of $1,508.7 million for the first quarter of 2012.

United States Steel Reports 2012 First Quarter Results

25 April 2012 - United States Steel Corp. reported a net loss of $219 million on net sales of $5.172 billion for the first quarter of 2012.

AK Steel's Coshocton Works Recognized for Outstanding Safety Performance

25 April 2012 - The Ohio Bureau of Workers' Compensation, Division of Safety and Hygiene has recognized AK Steel's Coshocton Works for operating 2,952,729 hours without a lost-time injury between February 20, 2008 and August 5, 2011.

Timken Breaks Ground on Faircrest Expansion

24 April 2012 - The Timken Co. celebrated the start of work on a $225 million expansion of its Faircrest Steel Plant that will feature the addition of a new ladle refiner and large-bloom continuous caster.

SMS Concast to Supply Vertical Bloom Caster for Timken Faircrest

23 April 2012 - SMS Concast AG has been awarded jointly with SMS Concast America Inc. of Pittsburgh, Pa., a major contract from The Timken Co. to supply a three(four)-strand UHQ vertical bloom casting facility for Timken’s Faircrest steel plant in Canton, Ohio.

Metals USA Reports First Quarter 2012 Results

20 April 2012 - Metals USA Holdings Corp. reported net sales for the first quarter of 2012, ended March 31, of $525.3 million, up 22% from net sales of $432.3 million recorded for the first quarter of 2011. Net income was $16.3 million, compared to first quarter 2011 net income of $12.4 million.

Steel Dynamics Reports First Quarter 2012 Results

20 April 2012 - Steel Dynamics, Inc. announced first quarter net income of $46 million, or $0.20 per diluted share, on net sales of $2.0 billion. By comparison, prior-year first quarter net income was $106 million, or $0.46 per diluted share, and sequential fourth quarter 2011 net income was $30 million, or $0.14 per diluted share.

Nucor Reports First Quarter 2012 Results

20 April 2012 - Nucor Corp. announced consolidated net earnings of $145.1 million, or $0.46 per diluted share, for the first quarter of 2012, compared to net earnings of $159.8 million, or $0.50 per diluted share, for the first quarter of 2011 and net earnings of $137.1 million, or $0.43 per diluted share, in the fourth quarter of 2011.

Ryerson to Open New Illinois Service Center

19 April 2012 - Ryerson Inc. announced that it will open a new bar processing depot and full line service center in DeKalb, Ill. The 150,000-square-foot facility is expected to begin operations in June 2012.

Reliance Increases 2012 First Quarter Outlook

19 April 2012 - Reliance Steel & Aluminum is updating its guidance regarding the company’s earnings estimates for the first quarter ended March 31, 2012.

Severstal, RÜTGERS Group Set up Coal Tar Conversion JV

19 April 2012 - OAO Severstal and RÜTGERS Group signed an agreement to establish a joint venture named RÜTGERS SEVERTAR, which will manufacture vacuumized pitch, industrial oils, and naphthalene.

February Steel Shipments Down 1.1% from January

18 April 2012 - U.S. steel mills shipped 8,407,343 net tons for the month of February 2012, a 1.1% decrease from the 8,497,932 net tons shipped in the previous month, according to the latest release from AISI.

Metals Service Center Growth Levels Off in March

18 April 2012 - March service center shipments of aluminum and steel were only slightly changed in both the United States and Canada, with inventory positions also remaining nearly constant in both countries, according the latest report from the Metals Service Center Institute.