Steel News

Keystone Reports Second Quarter Operating Results

14 August 2012 - Keystone Consolidated Industries, Inc. reported operating income before pension and other postretirement benefit (OPEB) credits for the second quarter of 2012 of $8.8 million, as compared to $10.0 million in the second quarter of 2011.

New Millennium Iron Announces $12.8 Million Investment by Tata Steel Minerals Canada

14 August 2012 - Tata Steel Minerals Canada Ltd, a joint venture between Tata Steel and New Millennium Iron Corp., has signed an agreement with the Sept-Îles Port Authority providing TSMC with access to a minimum of 5 million tonnes of annual shipping capacity from the new multi-user deep water dock facility to be located in the Bay of Sept-Îles at Pointe Noire, an ideal location for year round shipping in large ore carriers to Tata Steel’s European plants.

Energy Department Investments to Develop Lighter, Stronger Materials for Greater Vehicle Fuel Economy

14 August 2012 - U.S. Energy Secretary Steven Chu announced seven new projects to accelerate the development and deployment of stronger and lighter materials for the next generation of American-made cars and trucks.

Klöckner & Co. Reports Results for First Half of 2012

14 August 2012 - Klöckner & Co.’s turnover and sales increased sharply in the first six months of 2012, primarily from the acquisition of Macsteel Service Centers USA and strong organic growth in the U.S.

Prolamsa to Expand U.S. Operations with New OCTG and Line Pipe Facility

14 August 2012 - The Prolamsa Group announced it will build a new, state-of-the-art manufacturing facility to produce pipe and tubular products to meet the growing demand of the U.S. oil and natural gas industries.

New Structural Plant Will be Built by Gerdau Corsa in Mexico

14 August 2012 - Gerdau is resuming a R$1.1 billion project to build a new plant in Mexico through its joint venture with Gerdau Corsa.

Essar Steel Algoma Reports Positive EBITDA

13 August 2012 - Essar Steel Algoma reported positive EBITDA of $54.6 million and a net loss of $7.2 million for the three month period ending 30 June 2012 on shipments of 644,844 tons.

Canada Agency Makes Affirmative Preliminary Determination in Standard Pipe Unfair Trade Case

13 August 2012 - The Canada Border Services Agency made preliminary determinations of dumping and subsidization of carbon steel welded pipe from several countries including Chinese Taipei, India, Oman, Korea, Thailand, Turkey and the UAE.

AIIS: U.S. Steel Exports Fell in June; Concern about Direction of International Markets

13 August 2012 - U.S. steel exports declined 7.2% in June 2012 compared to May 2012, according to government data analyzed by the American Institute for International Steel (AIIS).

ThyssenKrupp Says It Will Reduce Workforce

13 August 2012 - ThyssenKrupp Steel USA said on 13 August that it will reduce the current workforce of its Calvert, Ala., plant by 197, of which 143 are hourly positions.

Jemison Demsey Mulls New Alabama Plant

13 August 2012 - Flat-rolled steel processor Jemison Demsey Metals has received tax abatements to build a $28.1 million facility in the Decatur, Ala., area.

BlueScope & Nippon Steel Establish Coated Products Joint Venture

13 August 2012 - Australia’s BlueScope and Japan’s Nippon Steel Corporation have agreed to form a new US$1.36 billion joint venture encompassing BlueScope’s ASEAN and North American building products businesses.

Timken Announces New Appointments

13 August 2012 - The Timken Company announced the appointment of Kevin Beck to assistant treasurer for Corporate Treasury. In addition, Paul Locke has been named controller for Aerospace and Defense.

TMK IPSCO to Move Corporate Headquarters to Houston

13 August 2012 - TMK IPSCO, the North American division of global pipe manufacturer TMK, will be moving its corporate headquarters from Downers Grove, Ill. to Houston, Texas. TMK IPSCO’s long-term strategy is to drive growth in the oil and gas markets.

Midrex Signs Agreement to Develop DRI Projects in China

13 August 2012 - Midrex Technologies, Midrex Metallurgical Services (Shanghai), and Capital Engineering and Research Incorporation Limited have signed a cooperation agreement to work together to market, develop, design, erect and commission MIDREX® Direct Reduction Plants in China.

Molybdenum Growth Linked to Future Demand for Stainless and Special Steels

10 August 2012 - Global demand for molybdenum bounced back from the impact of the global economic downturn, growing by just over 11% in 2010 and a further 9% in 2011 according to a new report from Roskill.

Ahmsa Halts Mexico Coal Mine Output After Six Killed

09 August 2012 - Mexican integrated steelmaker Altos Hornos de Mexico Sa de CV (Ahmsa) halted operations at Mine VII of its Mimosa mining unit following the death of six miners last Friday.

Aurora Capital Sells New Star Metals; Retains Ownership of Miami Valley Steel

09 August 2012 - Aurora Capital Group's affiliate Aurora Resurgence has sold New Star Metals, Inc. and its Premier Resource Group and Electric Coatings Technologies subsidiaries to an affiliate of Insight Equity Holdings LLC. Aurora Resurgence also sold the U.S. Metals and Supply division of New Star to Custom Steel Processing, Inc. and retained its ownership of Miami Valley Steel Service.

Olympic Steel Reports 2012 Second Quarter Financial Results

09 August 2012 - Olympic Steel, Inc., a national metals service center, announced its financial results for the second quarter and six months ended 30 June 2012; second quarter sales increased 23% while net income fell 43% year-on-year.

U.S. Tubular Producers Mull Trade Case

09 August 2012 - Northwest Pipe Co. and other American producers of energy tubulars are compiling data on imports with an eye toward potentially filing a trade complaint, the company's president and CEO confirmed this week.