Steel News

AK Steel to Increase Carbon Steel Prices

08 November 2010 - AK Steel will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders.

Keystone Reports Third Quarter 2010 Results

05 November 2010 - Keystone Consolidated Industries, Inc. reported net income of $2.3 million, or $0.19 per diluted share, in the third quarter of 2010 as compared to net income of $5.9 million, or $0.48 per diluted share, in the third quarter of 2009.

Lakeside Steel Reports Q2 Results

04 November 2010 - For the three months ended September 30, 2010, Lakeside Steel Inc. reported revenue of $66,485,859, a 273% increase compared to $17,812,672 for the same period in 2009, and an increase of $4,282,994, or 7%, compared to the previous quarter ended June 30, 2010.

Cliffs Ranks in Top 100 for Sustainability

03 November 2010 - Cliffs Natural Resources Inc. was named to the Global 1000 Sustainable Performance Leaders, achieving an overall ranking of 97 among other publicly traded global companies. It also ranked fourth among the 64 companies recognized in the Metals and Mining category.

Russel Metals Reports Q3 2010 Net Earnings

03 November 2010 - Russel Metals Inc. announced third-quarter earnings of $17 million, or $0.28 per share, compared with $0.31 per share for the second quarter of 2010 and $0.21 per share for the 2009 third quarter. For the nine months ended September 30, 2010, net earnings were $52 million, or $0.87 per share, on revenues of $1.6 billion.

Carpenter Technology Reports First Quarter Results

02 November 2010 - Carpenter Technology Corp. reported net income of $7.6 million, or $0.17 per share, for the quarter ended September 30, 2010. This compares to a net loss of $9.3 million, or negative $0.21 per share, for the same quarter a year ago. Net sales for the first quarter were $351.7 million, up 50% from the prior year.

AK Steel Announces December 2010 Surcharges

02 November 2010 - AK Steel says it will add a $285 per ton surcharge to invoices for electrical steel products shipped in December 2010.

Universal Stainless Announces Resignation of Chief Technology Officer

02 November 2010 - Universal Stainless & Alloy Products announced the resignation of Arthur C. Reardon, the company’s Chief Technology Officer, effective October 29, 2010.

Universal Stainless Reports 2010 Q3 Results

01 November 2010 - Universal Stainless & Alloy Products, Inc. reported $51.9 million in sales for the third quarter of 2010 compared with $25.3 million in the third quarter of 2009 and $51.3 million in the 2010 second quarter. Net income for Q3 was $4.1 million, or $0.60 per diluted share, compared with $0.3 million, or $0.05 per diluted share, for the same period last year.

CMC Reports 4th Quarter, Year-End Results

01 November 2010 - Commercial Metals Co. reported net earnings of $8.0 million on net sales of $1.8 billion for the fourth quarter and a net loss of $205.3 million on net sales of $6.3 billion for the year ended August 31, 2010.

U. S. Steel Appoints Executives in Tubular Products

28 October 2010 - United States Steel Corp. announced several executive appointments in its Tubular Products business, including Douglas R. Matthews, currently Vice President of Tubular Operations, being appointed Senior Vice President – Tubular Operations.

AK Steel Reports Third-Quarter Financial Results

27 October 2010 - AK Steel reported a net loss of $59.2 million, or $0.54 per diluted share of common stock, for the third quarter of 2010, compared to net income of $6.2 million, or $0.06 per diluted share, for the same period a year ago.

United States Steel Reports 2010 Q3 Results

27 October 2010 - United States Steel Corp. reported a third-quarter 2010 net loss of $51 million, or $0.35 per diluted share, compared to a net loss of $25 million, or $0.17 per diluted share, in the second quarter of 2010 and a net loss of $303 million, or $2.11 per diluted share, in the third quarter of 2009.

California Steel Reports Q3 2010 Results

26 October 2010 - California Steel Industries, Inc. reported third-quarter net income of $2.0 million for the period ended September 30, 2010. Sales revenues for the quarter are $313.9 million on shipments of 365,608 net tons, 50% higher than third quarter 2009's 244,417 net tons.

OmniSource Responds to Criminal Charges

26 October 2010 - Steel Dynamics, Inc. announced that its wholly-owned subsidiary, OmniSource Corp., was indicted on multiple criminal charges involving the alleged receipt or attempted receipt of stolen property. The allegations come after a lawsuit filed on October 15 against the Prosecutor seeking the return of $277,000 in cash unlawfully retained after the raid.

Reliance Steel Reports Q3, Nine-Month Results

22 October 2010 - For the 2010 third quarter ended September 30, 2010, Reliance Steel & Aluminum Co. reported net income of $48.7 million, an increase of 17% compared to 2009 third-quarter net income of $41.8 million. Sales were $1.65 billion, a 33% increase from 2009 Q3 sales of $1.24 billion.

Nucor Reports Results for 2010 Q3, First Nine Months

22 October 2010 - Nucor Corp. announced consolidated net earnings of $23.5 million, or $0.07 per diluted share, for the third quarter of 2010, compared to net earnings of $91.0 million, or $0.29 per diluted share, in the previous quarter and a net loss of $29.5 million, or $0.10 per diluted share, in the third quarter of 2009.

Ryerson to Open El Paso Service Center

21 October 2010 - Ryerson Inc. plans to open a service center in El Paso, Tex., that is expected to begin operations in mid-October. The facility will service the El Paso/Juarez, Mexico, market and will distribute a range of carbon, aluminum, and stainless steel products.

Esmark Steel Group Acquires Assets of Kelco Metals

21 October 2010 - Esmark Steel Group has acquired the assets of Schaumburg, Ill.-based steel distributor Kelco Metals Inc. for more than $9 million. Kelco Metals will add approximately 50,000 tons of steel shipments annually to the company’s total shipments.

Schnitzer Steel Reports Strong Fiscal 2010 Performance

21 October 2010 - Schnitzer Steel Industries, Inc. reported net income of $18.15 million on revenues of $639.1 million for the fourth quarter, and net income of $70.7 million on revenues of $2.3 billion for the full fiscal year 2010, which ended August 21, 2010.