Steel News

Deadline to Save Canadian Bar Maker Passes Without an Offer

27 March 2018 - Canadian SBQ maker Hamilton Specialty Bar (2007) Inc. is to be liquidated after a would-be buyer failed to finalize an offer for the business.

New Mill to Expand Carpenter Technology's Soft Magnetics Capabilities

27 March 2018 - Carpenter Technology Corp. has announced plans to build a US$100 million hot strip mill at its Reading, Pa., USA, plant, expanding its capability to produce soft magnetic alloys.

ArcelorMittal Disputes Disqualification of Essar Steel Bid

27 March 2018 - ArcelorMittal is challenging the disqualification of its bid for Essar Steel Ltd. under Indian insolvency proceedings, reports the (London) Financial Times.

JSW Steel Eyes US$500M Investment in Texas Mill

26 March 2018 - JSW Steel could invest up to US$500 million in its plate and pipe mill in Texas and add a hot end to the facility, according to an announcement.

Essar Steel Creditors Call for Redo on Bidding

22 March 2018 - Essar Steel Ltd.’s creditors committee has rejected offers from both ArcelorMittal and an entity led by a Russian bank on grounds that both were ineligible to bid under Indian insolvency rules, according to reports.

Deadline for Hamilton Specialty Bar Sale Draws Near

22 March 2018 - An investment firm is scrambling to finalize a bid for insolvent SBQ maker Hamilton Specialty Bar in Canada before a deadline Monday.

Big River Might Make Expansion Decision Soon

20 March 2018 - Big River Steel executive Mark Bula said he believes his company will make the call on an expansion sometime this year.

Indiana Steelmaker Expects Increase in Q1 Earnings

19 March 2018 - Steel Dynamics Inc. is forecasting first-quarter earnings of between 88 and 92 cents per diluted share, up nearly 10% over the same quarter last year.

Japan's Largest Steelmaker Extends International Reach With Ovako Acquisition

15 March 2018 - Nippon Steel & Sumitomo Metal Corp. (NSSMC) is acquiring Swedish specialty steelmaker Ovako AB for an undisclosed amount.

Nucor Contracts with SMS group for Illinois Bar Mill

14 March 2018 - SMS group has been awarded a contract to build Nucor Corp.’s planned merchant bar mill at its existing Kankakee bar plant in Illinois.

AK Steel Workers OK New Labor Pact

13 March 2018 - Unionized employees at AK Steel Corp.’s Middletown Works in Ohio have ratified a new two-year labor agreement, the company announced Tuesday.

U. S. Steel Foresees Better 2018 Earnings

13 March 2018 - United States Steel Corporation has increased its 2018 earnings forecast by 13%, reflecting the restart of an idled blast furnace and the imposition of a 25% tariff on steel imports.

New Chief Executive Takes Over at NLMK

13 March 2018 - Shareholders of Russia’s NLMK have elected senior vice president Grigory Fedorishin as the company’s new president and chief executive officer.

New Steel Mill Coming to Florida

12 March 2018 - Nucor Corp. has selected a site in central Florida as the home for a proposed US$240 million micro-mill, the company announced Monday.

Digitalization R&D Project Could Lead to Enhanced Production Scheduling at Big River

12 March 2018 - SMS group and a German university have launched a research and development project that focuses on automating production planning at Big River Steel.

Kobe Steel Executive Tapped for CEO Role

12 March 2018 - Kobe Steel has named a company veteran to its helm following the resignation of chief executive Hiroya Kawasaki, who is stepping down as a result of the quality control scandal that has shaken the Japanese steelmaker.

Bhushan Steel Creditors Select Offer for Company

08 March 2018 - Tata Steel Ltd.’s bid for a controlling stake in Indian cold-rolled producer Bhushan Steel has been selected as the prevailing offer, Tata said on Wednesday.

Steelmaker Seizes Growth Opportunity in Electric Motor Laminations

08 March 2018 - voestalpine is initiating production at a new plant that will make electric-motor lamination stacks, the Austrian steelmaker said on Wednesday.

Section 232 Decision Prompts U. S. Steel to Restart Illinois Blast Furnace

07 March 2018 - United States Steel Corporation plans to restart the B blast furnace at its Granite City Works in Illinois as a result of President Donald Trump’s proposed blanket tariff on imported steel, the company said on Wednesday.

Quality Control Problems Prompt Kobe Steel CEO, Other Executives to Resign

06 March 2018 - Kobe Steel chairman and chief executive Hiroya Kawasaki said he’ll resign at month’s end because of the quality control scandal that affected more than 600 customers.