Steel News

Cliffs Elects New Board Member

11 March 2010 - Cliffs Natural Resources Inc.’s Board of Directors has elected James F. Kirsch as a director. Kirsch also currently serves as Chairman, President, and Chief Executive Officer of Ferro Corp.

California Steel Reports 4th Quarter, Full Year 2009 Results

10 March 2010 - California Steel reports a net loss of $2.3 million on net sales of $153.6 million for the fourth quarter and a net loss of $13.1 million on net sales of $551.8 million for the full year ended December 31, 2009.

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.

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.

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.

Ruukki Releases Report on 2009 Environmental Responsibility

03 March 2010 - Ruukki claims in its 2009 corporate environmental report that it made progress in the energy efficiency of production with the aim of achieving energy savings of 9%, compared to 2005 levels, by 2016. The company spent a total of EUR 21 million on environmental investments in 2009.

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.

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.

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.

Gerdau Ameristeel Reports 2009 4th Quarter, Year-End Results

26 February 2010 - Gerdau Ameristeel reported a net loss of $46.1 million on net sales of $1.0 billion for the fourth quarter and a net loss of $161.7 million on net sales of $4.2 billion for the year ended December 31, 2009.

AISI Commends Letter by Senators to EPA

24 February 2010 - The American Iron and Steel Institute has expressed its support for a letter signed by eight U.S. Senators to EPA Administrator Lisa P. Jackson raising “serious economic and energy security concerns” regarding the potential regulation of greenhouse gases from stationary sources under the Clean Air Act.

Universal Stainless to Elect New Chairman of the Board

24 February 2010 - Universal Stainless & Alloy Products’ Board of Directors intends to elect Dennis M. Oates, the company's President and CEO, to the additional position of Chairman, in anticipation of the impending retirement from the Board of its current Chairman, Clarence M. ("Mac") McAninch.

Steel Dynamics to Begin Shipping Standard Rail to Major Railroads

23 February 2010 - Steel Dynamics, Inc. has begun commercial production of Standard Strength rails that meet all current AREMA specifications at its Structural & Rail Division at Columbia City, Ind. Shipments are expected to begin in the second quarter.

Severstal Columbus Closes Senior Secured Note Offering

22 February 2010 - Severstal Columbus LLC, a subsidiary of OAO Severstal, has issued a US$525 million aggregate principal amount of eight-year callable senior secured notes at an original issue discount of 2% and an annual coupon rate of 10.25%.

Cliffs Reports Fourth-Quarter, Full-Year Results

19 February 2010 - Cliffs Natural Resources Inc. reported full-year revenues of $2.34 billion for the period ended Dec. 31, 2009, a decrease of 35% from the previous year. Consolidated fourth-quarter revenues were $820.5 million, a decrease of 10% compared to the same quarter last year.

Universal Stainless to Increase Base Price for Stainless Wire Rod

19 February 2010 - Universal Stainless & Alloy Products announces a 5% base price increase on all stainless wire rod manufactured at its Dunkirk Specialty Steel, LLC facility.