Steel News

Vallourec Acquires Serimax

22 April 2010 - Vallourec has reached an agreement to acquire 100% of Serimax, which the company says will complement its existing line pipe operations that account for about 10% of the Group’s total Oil and Gas sales. The purchase price amounts to €150 million.

Ruukki Steel Featured on Highest Aerial Platform

22 April 2010 - Ruukki's high-strength Optim 650 MC and Optim 900 steels are used for the world's highest truck-mounted aerial platform, which reaches up to a height of 112 meters. The aerial platforms are made by Bronto Skylift.

worldsteel Provides Short Range Outlook for Apparent Steel Use

22 April 2010 - The World Steel Association is forecasting that apparent steel use will increase to 1,241 million tonnes in 2010, a 10.7% increase following a 6.7% contraction in 2009.

AK Steel to Make Pension Trust Fund Contribution

22 April 2010 - AK Steel’s board of directors has authorized the company to make a $35 million contribution to its pension trust fund. The contribution will be made during the second quarter.

AK Steel Reports Q1 Financial Results

21 April 2010 - AK Steel reports net income of $1.9 million ($0.02 per diluted share of common stock) for the first quarter of 2010, compared to a net loss of $73.4 million ($0.67 per diluted share) for the same period a year ago.

March World Crude Steel Output More than 30% above Last Year

21 April 2010 - World crude steel production for the 66 countries reporting to the World Steel Association stood at an estimated 120.31 million tonnes in March 2010 — an 11.2% increase from the previous month (February 2010) and a 30.6% increase vs. March 2009.

California Steel Industries Posts Improved Q1 Results

21 April 2010 - California Steel Industries reports sales revenues of $232.7 million for the period ended March 31, 2010, compared to $147.1 million for the year-ago first quarter. Net income for the period is $10.4 million, an improvement from last year's net loss of $15.3 million in the first quarter.

SMS Meer Commissions High-Speed Bar Mill in Syria

21 April 2010 - International Co. for Steel Rolling in Hassia, Syria, has successfully commissioned the SMS Meer-supplied bar mill, which is designed for the production of rebar with low and medium carbon content and an annual output of 300,000 tonnes in dimensions of 8 to 40 mm round.

Commercial Metals Announces Two Executive Appointments

21 April 2010 - Commercial Metals Co. has appointed Joseph Alvarado as Executive Vice President and Chief Operating Officer of CMC, and Tracy L. Porter as Vice President of CMC and President of the CMC Americas Division. Alvarado begins his new role on April 30; Porter's new role is effective April 19.

U. S. Steel Selects New General Manager-Raw Materials

20 April 2010 - United States Steel Corp. has named Marc F. Stoken as the General Manager-Raw Materials effective April 1. He is responsible for overseeing all raw materials purchasing activities for U. S. Steel's North American operations.

Outotec to Deliver Technology for Bhushan Power & Steel Plant in India

20 April 2010 - Outotec has agreed with Bhushan Power & Steel Plant Ltd. on the delivery of pelletizing technology for its steel plant expansion at Jharsuguda, located in Orissa state of India. The iron ore pelletizing plant is scheduled to be commissioned in mid 2012.

ArcelorMittal Kryviy Rih CEO Named ‘Best Manager’

20 April 2010 - Jean Jouet, CEO of OJSC ArcelorMittal Kryviy Rih, was recently chosen as “best manager in the steel industry in Ukraine” according to the Top-100 rating by Investgazeta. Jouet was one of five industry leaders who shared first place.

U.S., Canadian Steel Shipments See Double-Digit Increases for March

20 April 2010 - Shipments of steel products from U.S. metals service centers in March totaled 3.21 million tons, a 24.0% increase from a year ago, according to the latest Metals Activity Report from the Metals Service Center Institute. In Canada, March steel shipments totaled 516,400 tons—15.9% more than the same month a year ago.

Steel Dynamics Reports Stronger Q1 Earnings

20 April 2010 - Steel Dynamics reports net income of $65 million on net sales of $1.6 billion for the first quarter of 2010.

SKF Inaugurates Wind Industry Service Center in Shanghai

19 April 2010 - The SKF Asia Pacific wind industry service center was inaugurated at the SKF Solution Factory in Shanghai on April 14, 2010. This is the third one of its kind, according to SKF, following the centers in Hamburg and Houston.

Posco’s Vietnamese Cold Rolling Mill in Full Operation

19 April 2010 - Posco-Vietnam’s cold-rolling mill produced 80,000 tonnes of cold-rolled steel products in March, with an operation rate of 80%—20% higher than projected. Since the beginning of April, the plant has been in full operation, producing 100,000 tonnes of steel.

PTC Alliance Obtains Court Approval of Asset Sale

19 April 2010 - The U.S. Bankruptcy Court has authorized the sale of substantially all of PTC Alliance’s assets in the U.S. and the stock of its non-debtor German subsidiary, Wiederholt GmbH. The sale to agents of the company's credit facilities supported by funds managed by Black Diamond Capital Management LLC was authorized at a hearing on April 14, 2010.

EPA Settles with Alro Steel for Chemical Inventory Reporting Violations

19 April 2010 - U.S. Environmental Protection Agency Region 5 recently settled a case of hazardous chemical reporting violations involving Alro Steel Corp. The consent agreement and final order applies to Alro facilities in Lansing, Mich.; Melrose Park, Ill.; and Indianapolis and Fort Wayne, Ind.

February Steel Shipments Down 4.1% from January

19 April 2010 - U.S. steel mills shipped 6,311,076 net tons for the month of February 2010, a 4.1% decrease from the 6,579,808 net tons shipped in the previous month according to the latest report from AISI.

Posco Begins Construction of Fuel Cell Stack Manufacturing Plant

16 April 2010 - Posco had a groundbreaking ceremony on April 7 for a new fuel cell stack manufacturing plant in the Pohang Young-il bay rear industrial complex. Construction is expected to be completed in December 2010.