Steel News

Steel Dynamics to Begin Shipping Standard Rail to Major Railroads

23 February 2010 - Steel Dynamics, Inc. has begun commercial production of Standard Strength rails that meet all current AREMA specifications at its Structural & Rail Division at Columbia City, Ind. Shipments are expected to begin in the second quarter.

Russel Metals Reports 2009 Annual, Fourth-Quarter Results

23 February 2010 - Russel Metals Inc. reported a fourth-quarter loss of $25 million ($0.42 per share), which includes a pre-tax net inventory write-down of $5 million and an asset impairment charge of $35 million. For the year, the company reported a loss of $92 million ($1.54 per share).

Siemens Supplies Electrical Equipment for Secondary Dedusting System

23 February 2010 - The Siemens Industry Solutions Division has received an order from ArcelorMittal Bremen GmbH to supply the electrical and automation equipment for the new secondary dedusting system in its LD steelworks.

MMK Commissions Secondary Steel Treatment Complex

22 February 2010 - Magnitogorsk Iron & Steel Works has commissioned a new secondary steel treatment complex at its Oxygen Converter Shop that will facilitate the production of steel grades for high-quality pipes and automotive steel.

USITC Votes to Continue Cases on Drill Pipe, Collars from China

22 February 2010 - The United States International Trade Commission recently determined that there is a reasonable indication that a U.S. industry is threatened with material injury due to imports of drill pipe and drill collars from China that are allegedly subsidized and sold at less than fair value.

Ruukki to Discontinue Operations at Mo i Rana Plant in Norway

22 February 2010 - Rautaruukki has decided to discontinue operations at its Mo i Rana unit in Norway until further notice, affecting some 110 employees in the unit.

Andec, Kamastal Upgrade with Danieli Equipment

22 February 2010 - The upgrading of Andec-Acerias Nacionales del Ecuador steelworks in Guayaquil was completed in December with the start of operation of a new 25-tonne Danieli ladle furnace and the associated fume dedusting plant. A new Danieli secondary refining station also was installed as part of the modernization of the existing Kamastal Metallurgical Works Ltd. steelmaking facilities in Perm.

Posco, KOCEMA to Cooperate on Steel Technologies

22 February 2010 - Posco recently signed the “Technological Support and Steel Products Supply Agreement for Mutual Cooperation of Large, Mid, and Small Sized Companies” with KOCEMA (Korea Construction Equipment Manufacturers Association) in Seoul.

Severstal Columbus Closes Senior Secured Note Offering

22 February 2010 - Severstal Columbus LLC, a subsidiary of OAO Severstal, has issued a US$525 million aggregate principal amount of eight-year callable senior secured notes at an original issue discount of 2% and an annual coupon rate of 10.25%.

Cliffs Reports Fourth-Quarter, Full-Year Results

19 February 2010 - Cliffs Natural Resources Inc. reported full-year revenues of $2.34 billion for the period ended Dec. 31, 2009, a decrease of 35% from the previous year. Consolidated fourth-quarter revenues were $820.5 million, a decrease of 10% compared to the same quarter last year.

Danieli Heavy Section Mill Selected for ESI Minimill Expansion

19 February 2010 - Emirates Steel Industry (ESI) has contracted Danieli for the completion of Phase 2 expansion of the minimill complex currently in operation in the Mussaffah Industrial Area, Abu Dhabi, with the installation of a new heavy section mill with a capacity of 1 million tonnes per year of large-size sections, beams, columns, and sheet piles.

Posco Confirms Executive Director Candidates

19 February 2010 - Posco recently held a board meeting to confirm Posco ICT CEO Han-yong Park, Vice President Chang-gwan Oh (Marketing Director), and Jin-il Kim (Head Manager of Pohang Steelworks) as executive director candidates. They will take the post following approval at the shareholders meeting scheduled for February 26.

LKAB Plans for Three New Iron Ore Mines

19 February 2010 - LKAB plans to open an open-pit mine at Gruvberget, near Svappavaara, during the first half of 2010. The company also plans to submit applications this year for a project to drain the Leveäniemi open pit, which was closed in the mid-1980s, and for test drilling at Mertainen.

Universal Stainless to Increase Base Price for Stainless Wire Rod

19 February 2010 - Universal Stainless & Alloy Products announces a 5% base price increase on all stainless wire rod manufactured at its Dunkirk Specialty Steel, LLC facility.

Reliance Steel & Aluminum Reports 4th Quarter, Full Year 2009 Results

19 February 2010 - Reliance Steel & Aluminum reported net income of $92.1 million on sales of $1.27 billion for the fourth quarter and net income of $148.2 million on sales of $5.32 billion for the fiscal year ended December 31, 2009.

Mechel Progresses in Development of Elga Coking Coal Deposit

18 February 2010 - At the beginning of February, two special heavy machinery convoys departed from the Upper Ulak station (Amur Region) where a Mechel OAO-owned construction base is located. The equipment, which is intended for development of Elga coking coal deposit, has reached the location of the new open pit mine construction.

Posco Delivers Haiti Relief Funds

18 February 2010 - Posco delivered relief funds of USD300,000 for Haiti to the Korean National Red Cross President Yoo Chong-ha on February 10, along with a KRW 78 million donation collected from 9447 employees in online contributions between January 22 and 28.

Danieli Bar and Section Mill in Operation at Duferdofin-Nucor Giammoro

18 February 2010 - The new Danieli merchant bar mill was started up in November 2009 at Duferdofin-Nucor Giammoro, Sicily. The 20-stand high-speed continuous mill has a designed capacity of 700,000-tonnes per year of 8 to 25-mm-diameter deformed bars and a range of sections, rolled at rates of 100 tonnes per hour.

ALJ Announces 1st Quarter Earnings

18 February 2010 - ALJ, the parent company of Kentucky Electric, reports a net loss of $153,106 on net sales of $21.03 million for the three months ended December 31, 2009.

BSP Awarded as Best Integrated Steel Plant

18 February 2010 - Bhilai Steel Plant (BSP), the flagship unit of Steel Authority of India Ltd., has received the Prime Minister’s Trophy for emerging as the best-performing steel plant in the country for the years 2006-07 and 2007-08.