Steel News

Posco Pledges Support for Small and Medium Enterprises

01 March 2005 - Posco is moving forward with its co-survival management strategy through setting and enforcing an extensive small and medium enterprise support plan in all units including sales, procurement, outsourcing and human resource management.

Quanex Reports First Quarter 2005 Results

01 March 2005 - Quanex Corp. reported record net income from continuing operations of $33.7 million on record net sales of $470.2 million for its fiscal first quarter.

Specialty Steel Producers Release YTD November 2004 Data

28 February 2005 - Data released by the Specialty Steel Industry of North America (SSINA) show that stainless steel imports have increased to 600,392 tons through Nov. 2004. The 32% increase in stainless imports (compared to YTD 2003) significantly overshadows the 13% growth in domestic stainless steel consumption over the same period. Total specialty steel imports (including stainless, alloy tool steel and electrical steel) increased by 25% over the same period, nearly double the 13% growth in specialty steel consumption.

Stelco Comments on Court Decisions

28 February 2005 - Stelco Inc. commented on the Court hearing held Friday. Feb. 25, in the matter of the company's Court-supervised restructuring.

Nucor Slates Vacuum Degassers for Decatur and Hickman

28 February 2005 - Nucor Corp. announced plans to install vacuum degassers at the sheet mill in Decatur, Ala., and at the sheet mill in Hickman, Ark.

North American Galvanizing to Purchase Gregory Facility

25 February 2005 - North American Galvanizing & Coatings, Inc. has reached a tentative agreement with Gregory Industries, Inc. for the purchase of Gregory's hot-dip galvanizing assets located in Canton, Ohio. Terms of the transaction were not announced.

Stelco Court Monitor Files 19th Report

25 February 2005 - Stelco Inc.’s court-appointed Monitor has filed its Nineteenth Report regarding the company's Court-supervised restructuring. The Report outlines progress in the company’s capital raising and asset sale process, and the retired salaried employees' request for a bid review committee.

Olympic Steel Announces Management Changes

24 February 2005 - David A. Wolfort, President & Chief Operating Officer of Olympic Steel, Inc. announced that Jerry Gea, Regional Vice President of the Eastern Region will retire effective March 1.

Northwest Pipe Reports Record 2004 Results

24 February 2005 - Northwest Pipe Co. reported its highest-ever quarterly sales and earnings: net income of $4.2 million on sales of $80.3 million for the fourth quarter of 2004. The company also reported net income of $12.4 million on record sales of $291.9 million for the year 2004.

Ispat Inland Reports Record Earnings in 2004

24 February 2005 - Ispat Inland Inc. reported net income of $41.7 million on sales revenue of $811.0 million for the fourth quarter, and record net income of $258.7 million on sales revenue of $3,157.6 million for the year 2004.

Millcraft SMS Services Becomes a Kop-Flex Service Center Provider

23 February 2005 - Millcraft SMS Services LLC and Kop-Flex, Inc. have forged an agreement to provide factory-authorized service and repair of Kop-Flex power transmission couplings.

Olympic Steel Reports Record Results for 2004

23 February 2005 - Olympic Steel, Inc. announced record net income of $12.2 million on record sales of $240.2 million for the fourth quarter and record net income of $60.1 million on record net sales of $894.2 million for the year ended December 31, 2004.

Gallatin Steel and Employees Support Tsunami Relief Effort

23 February 2005 - Gallatin Steel and its employees have contributed $105,490 to the tsunami relief effort in South Asia.

Metals USA Reports Record Earnings for 2004

23 February 2005 - Metals USA Inc. announced record net income of $20.5 million on net sales of $394.4 million for the fourth quarter, and net income of $104.5 million on net sales of $1.51 billion for the full year ended Dec. 31, 2004.

Year-End Steel Shipments Rise 5.8 Percent Over 2003

23 February 2005 - U.S. steel mills shipped 8,447,000 net tons in December 2004, according to the latest data reported by the American Iron and Steel Institute (AISI). This volume represents a 6.5% decrease from the 9,038,000 net tons shipped in December 2003, and a 6.5% decrease from the 9,032,000 net tons shipped in the previous month (November 2004).

CVRD Concludes 2005 Iron Ore Price Negotiations

23 February 2005 - Companhia Vale do Rio Doce (CVRD) has concluded iron ore price negotiations for 2005 with Nippon Steel Corp. (NSC), the largest Japanese steelmaker.

Ispat Inland Seeks Consents from Note Holders

22 February 2005 - Ispat Inland ULC is soliciting consents from holders of its outstanding Senior Secured Floating Rate Notes due 2010 and 9.75% Senior Secured Notes due 2014 for amendments to the indenture governing the Notes.

U. S. Steel Endorses Michigan Tax Package

22 February 2005 - United States Steel Corp. announced its support of Gov. Jennifer Granholm's major reform of the Single Business Tax (SBT), saying the package, as proposed by the governor, would create an incentive for manufacturers to invest in the state, help stem the state's loss of high-paying manufacturing jobs, and boost the security of the 2,400 jobs at the company's Great Lakes Works in Ecorse and River Rouge.

Ten States and EPA Launch Clean Energy-Environment Partnership Program

21 February 2005 - The U.S. Environmental Protection Agency (EPA) has launched a new Clean Energy-Environment State Partnership Program with 10 states: California, Connecticut, Georgia, Minnesota, New Jersey, New Mexico, New York, Ohio, Pennsylvania and Texas. Under the voluntary program, EPA assists states as they develop and implement action plans to improve air quality, decrease energy use, reduce greenhouse gas emissions, and enhance economic development.

Stelco Board Commences Review of Bids

21 February 2005 - Stelco Inc.’s Board of Directors has commenced its review of bids submitted under the Court-approved capital raising and asset sale process.