Steel News

Steel Dynamics Starts Production of Mesabi Nuggets

14 January 2010 - Steel Dynamics produces its first batch of iron nuggets at its Mesabi Nugget facility at Hoyt Lakes, Minn., marking the world's first commercial production of nuggets using the ITmk3 process developed by Kobe Steel Ltd.

AK Steel Increases Price for Carbon Steel Products

13 January 2010 - AK Steel announces an additional $60 per ton increase to spot market prices for carbon steel products immediately for all new orders.

Crucible, Latrobe Specialty Steel Distribution to Partner on CPM Marketing

13 January 2010 - Crucible Industries entered into partnership with Latrobe Specialty Steel Distribution for the sales and marketing of Crucible Particle Metallurgy.

Nucor’s Rutkowski to Retire

12 January 2010 - Nucor Executive Vice President of Business Development Joseph A. Rutkowski will retire at the end of February after 21 years of service with the company. Effective March 1, 2010, R. Joseph Stratman will assume responsibility for business development activities while continuing his role as EVP of Beam and Plate Products.

Gerdau Ameristeel Defers Early Adoption of International Financial Reporting Standards

11 January 2010 - Gerdau Ameristeel will defer early adoption of IFRS until periods beginning on or after January 1, 2010.

Schnitzer Steel Reports Q1 Results

08 January 2010 - Schnitzer Steel Industries reports diluted earnings per share from continuing operations of $0.23 for its fiscal 2010 first quarter ended November 30, 2009. This compares with diluted loss per share from continuing operations of $1.16 during the first quarter of fiscal 2009.

Nucor CEO Recognized by Harvard Business Review

08 January 2010 - Harvard Business Review recognizes Chairman, CEO, and President Dan DiMicco and Nucor's management team in its ranking of "The Best-Performing CEOs in the World" in the January-February 2010 edition.

Gerdau Ameristeel Sand Springs Mill to Remain Idled

08 January 2010 - Gerdau Ameristeel will continue the idling of its Sand Springs steel mill for the foreseeable future, despite a comprehensive proposal from the State of Oklahoma and City of Sand Springs aimed at maintaining steel production at the company's Sand Springs steel mill.

U. S. Steel, Others File for Critical Circumstances in Tubular Trade Case

08 January 2010 - U.S. Steel and other petitioning parties will make an allegation of "critical circumstances" in the ongoing antidumping and countervailing duty investigations into seamless standard, line and pressure pipe from China.

Worthington Reports Q2 Results

07 January 2010 - Worthington Industries, Inc. reports net sales of $448.0 million and net earnings of $23.2 million, or $0.29 per diluted share, for the fiscal 2010 second quarter ended November 30, 2009. The results show sequential improvement from the first quarter.

AK Steel Announces February 2010 Surcharges

06 January 2010 - AK Steel will add a $235 per ton surcharge to invoices for electrical steel products shipped in February 2010.

Posco to Invest 7 Trillion KRW in Green Growth

05 January 2010 - Posco announces plans to invest 7 trillion KRW in green growth sectors including synthetic natural gas, SMART nuclear reactors, wind power, fuel cell for power generation, and smart grid in support of its green growth vision of “Global Green Growth Leader”.

Timken Finalizes Sale of Needle Roller Bearings Business

05 January 2010 - The Timken Co. has completed the sale of its Needle Roller Bearings business to Japan’s JTEKT Corp. The business manufactures highly engineered needle roller bearings for automotive and industrial applications.

Fatalities at ArcelorMittal South Africa’s Newcastle Works

04 January 2010 - Four employees of ArcelorMittal South Africa lost their lives following an accident at its Newcastle plant in KwaZulu Natal on December 30. A fifth employee was hospitalized in stable condition. The employees were working on Basic Oxygen Furnace No. 3 when they collapsed as a result of a suspected gas leak.

ALJ Announces Results for Fiscal Year 2009

04 January 2010 - ALJ Regional Holdings, Inc., the parent company of Kentucky Electric Steel, posted net income of $1.118 million for the fiscal fourth quarter, and net income of $53,161 for the fiscal year ended September 30, 2009.

California Steel Industries to Make Organizational Changes

31 December 2009 - California Steel Industries, Inc. is making three organizational changes, effective January 1, 2010. All three executive vice presidents will continue to report to Vicente Wright, President and CEO.

Esmark Acquires Excalibur Machine Assets

31 December 2009 - Esmark Industrial Group has completed the acquisition of assets of Meadville, Pa.-based Excalibur Machine Co., Inc. for $3.5 million in cash. David A. Luptak will become Chief Executive Officer and President of the newly formed Esmark Industrial Group with responsibility for Excalibur Machine.

UAW Members Ratify Contract Extension at Coshocton

30 December 2009 - Members of UAW Local 3462 ratify a three-year extension to the existing labor agreement at AK Steel's Coshocton Works.

Commercial Metals Reports First Quarter Loss

24 December 2009 - Commercial Metals reports a net loss of $31.2 million ($0.28 per share) on net sales of $1.4 billion for the quarter ended November 30, 2009, compared with net earnings of $62.0 million ($0.54 per diluted share) on net sales of $2.4 billion for last year's first quarter.

Siemens to Supply Coil Handling for Sterling Steel Wire Rod Mill

24 December 2009 - Siemens VAI Metals Technologies will supply a new, all-vertical coil handling system and extend the existing Stelmor system for Sterling Steel’s wire rod mill.