Steel News

ArcelorMittal USA Again Receives Energy Star Honor

10 March 2010 - ArcelorMittal USA was recently selected, for the third consecutive year, as a 2010 Energy Star® Sustained Excellence Award winner for Energy Management, awarded annually by the U.S. Environmental Protection Agency and the U.S. Department of Energy.

Steel Dynamics Declares Cash Dividend, Issues Q1 Guidance

10 March 2010 - Steel Dynamics’ board has declared a quarterly cash dividend of $0.075 per common share, payable on or about April 12, 2010, to shareholders of record at the close of business on March 31, 2010. The company also issued first quarter 2010 earnings guidance of $0.22 to $0.27 per diluted share.

Universal Stainless Announces Base Price Increases

09 March 2010 - Universal Stainless & Alloy Products announces base price increases of 3% to 5% on stainless and low alloy grade products manufactured at its Bridgeville and Dunkirk facilities.

Essar Group, Denham Capital Announce Purchase-Sale Agreement for Trinity Coal

08 March 2010 - Essar Group, through its Essar Minerals subsidiary, and Denham Capital recently announced a definitive agreement by which Denham will sell its ownership of Trinity Coal to Essar for US $600 million. The deal is expected to close by the end of March.

Steel Import Permits Decline 7% in February

05 March 2010 - Steel import permit applications totaled 1,530,000 net tons for the month of February, a 7% decrease from the 1,644,000 permit tons recorded in January according to the latest report from AISI.

Superior Ships Components for EAF Revamp at North Star Bluescope

05 March 2010 - Superior Machine Co. of S.C., Inc. has completed and shipped the major components for an upcoming revamp of North Star BlueScope Steel, LLC’s electric arc furnace. Superior’s field service crew is in the process of reassembling the tilt platform, bottom shell (hearth), and upper shell onsite.

Commerce Preliminarily Finds Dumping of Magnesia Carbon Brick from China, Mexico

05 March 2010 - The Department of Commerce announced on March 4 that it preliminarily determined that Chinese and Mexican producers/exporters have sold magnesia carbon brick in the United States between 132.74 and 349.00%, and 54.73% less than normal value, respectively.

AISI Supports Efforts to Halt EPA Regulation of Stationary Sources

05 March 2010 - The American Iron and Steel Institute applauds efforts in both the U.S. Senate and the U.S. House of Representatives to prevent “economically damaging action” by the Environmental Protection Agency to regulate greenhouse gases from stationary sources.

Nucor, Mitsui to Form Steel Processing Joint Venture

04 March 2010 - Nucor Corp. and Mitsui & Co. (U.S.A.) have entered into a 50-50 joint venture in which newly created NuMit LLC will own and operate a flat rolled steel processing network and other steel related projects throughout North America.

TMK IPSCO to Open New Production Facility in Marcellus Shale Region

04 March 2010 - TMK IPSCO has signed a lease on a building in Brookfield, Ohio, where it will install new equipment to further expand the threading capacity of its ULTRA Premium Connections product line. The facility is expected to begin operations during the second quarter of this year.

Tube City IMS Names New Manager for Carolinas, Tennessee

04 March 2010 - Tube City IMS, LLC recently announced that Bruce C. Campbell has joined the company as Manager - Carolina Trading. He will be based at the company's trading office in Pawleys Island, S.C.

AK Steel to Increase Prices for Carbon Steel Products

03 March 2010 - AK Steel announced that it will increase spot market base prices by $40 per ton, effective immediately with all new orders for its carbon steel products.

Tenova Core Supplies Large Rotary Hearth Furnace at Mesabi Nugget

03 March 2010 - Tenova Core recently supplied a new rotary hearth furnace at the Mesabi Nugget facility in Hoyt Lakes, Minn., with an annual design capacity of 500,000 tons of iron nuggets.

Nucor Subsidiary Acquires Ocala Recycling

02 March 2010 - Nucor Corp.’s wholly owned subsidiary, The David J. Joseph Co. (DJJ), has acquired the assets and business of Ocala Recycling LLC, currently a subsidiary of Blaze Metals LLC. DJJ will operate the Ocala facilities as part of Trademark Metals Recycling LLC.

Reliance Steel & Aluminum Names Corporate Vice President - Operations

02 March 2010 - Reliance Steel & Aluminum announces the promotion of Stephen P. Koch to Vice President–Operations, effective April 1, 2010.

Essar Steel Algoma Announces Scholarship Program

02 March 2010 - Essar Steel Algoma has launched a corporate scholarship program that offers two distinct scholarships: The Scholarship of Distinction, which targets university-bound students, and the Scholarship of Merit, which is aimed at students who elect to attend college.

Modernization Programs to Resume at Severstal Dearborn, Columbus

01 March 2010 - Severstal North America will resume modernization programs at its Severstal Dearborn, Mich., and Severstal Columbus, Miss., facilities. The projects were put on hold after steel demand and pricing fell in the fourth quarter of 2008.

Olympic Steel Reports 2009 4th Quarter, Annual Financial Results

01 March 2010 - Olympic Steel, Inc. reported a net loss of $2.6 million on net sales of $138.5 million for the fourth quarter and a net loss of $61.2 million on net sales of $523.4 million for the year ended December 31, 2009.

Commercial Metals to Exit Joist and Deck Business

01 March 2010 - Commercial Metals Co. recently announced its decision to exit the joist and deck business by way of sale and/or closure of those facilities. The company also has amended its agreement regarding its $400 million revolver and its $100 million accounts receivable (A/R) securitization agreement.

EPA Accepting Comments on ArcelorMittal Requests for Hazardous Waste Injection

26 February 2010 - U.S. EPA Region 5 is accepting public comments until April 7 on ArcelorMittal's requests to continue injecting hazardous waste deep underground at its Burns Harbor facility in Indiana. ArcelorMittal has three existing underground injection wells and plans to construct a fourth.