Steel News

Evraz Inc. NA Secures Bank Financing

23 December 2009 - The closing of a US$225 million four-year committed revolving credit facility for Evraz Group S.A.'s U.S. wholly owned subsidiary, Evraz Inc. NA, will help the company finance its working capital requirements.

Tata Steel Launches Safety Mascot

22 December 2009 - Tata Steel aims to produce “injury-free steel” with help from its new safety mascot Jeevan, which is adorned with Personal Protective Equipment such as goggles, helmet, safety shoes, and jacket—mandatory gear before entering the Steel Works.

Allegheny Technologies Raises 4th Quarter Expectations

18 December 2009 - Allegheny Technologies Inc. is raising its earnings expectations for the fourth quarter 2009 earnings to the range of $0.20 to $0.25 per share.

Nucor Updates Fourth Quarter Guidance

17 December 2009 - Nucor updates its guidance for the fourth quarter ending December 31, saying that it now expects results to be breakeven to slightly positive.

Cliffs Added to S&P 500 Index

15 December 2009 - Standard & Poor’s will add Cliffs Natural Resources Inc.’s shares to the S&P 500 Index effective December 18 after the market closes. Cliffs also will be added to the S&P 500 GICS Steel Sub-Industry index.

AMMA Expresses Concern over EPA Analysis of Climate Legislation

15 December 2009 - The American Materials Manufacturing Alliance has issued a letter to Senators Bayh (D-IN), Specter (D-PA), Brown (D-OH), McCaskill (D-MO), and Stabenow (D-MI) regarding the U.S. EPA’s analysis of the impact that H.R. 2454 will have on energy-intensive, trade-exposed industries.

NLMK Launches New Environmental Project in Sinter Production

15 December 2009 - Novolipetsk Steel initiates a new environmental project at its Lipetsk sinter plant that is to help generate an 80% reduction in sinter dust emissions.

Severstal Launches Campaign for Unified Approach to Marketplace

14 December 2009 - Severstal North America has launched a new initiative, ONE Severstal, designed to promote a unified approach by all of its U.S. facilities to the marketplace. The campaign reflects the company’s recently completed North American commercial reorientation.

Steel Dynamics Updates 4th Quarter Guidance

11 December 2009 - Steel Dynamics updates its fourth quarter 2009 earnings guidance to the range of $0.10 to $0.20 per diluted share.

AK Steel Comments on China’s Preliminary Ruling for Electrical Steel Duties

11 December 2009 - AK Steel responds to the imposition of provisional duties by China's Ministry of Commerce (MOFCOM) on imported electrical steel products. Chairman, President, and CEO James L. Wainscott says the company is very disappointed by MOFCOM's preliminary findings.

Nucor Board Increases Cash Dividend

10 December 2009 - Nucor’s board of directors increases the regular quarterly cash dividend on the company's common stock by 2.9% to $0.36 per share.

ThyssenKrupp Holds Jobs Fair in Mobile County

10 December 2009 - ThyssenKrupp Steel USA and ThyssenKrupp Stainless USA holds jobs fair in Mount Vernon, Ala.

AK Steel to Further Increase Carbon Steel Prices

09 December 2009 - AK Steel announces an additional $30 per ton increase to spot market prices for carbon steel products for all new orders accepted for shipment on January 1, 2010 and later.

Cliffs Amends Definitive Agreement to Acquire Freewest

07 December 2009 - Cliffs Natural Resources has amended the terms of the previously disclosed definitive agreement to acquire Freewest Resources Canada Inc. Under the terms of the amended agreement, each Freewest shareholder will now receive CAD$0.90 per share of fixed consideration exclusively in the form of Cliffs common stock.

ZPSS Receives Environmental Incentives from City Government

07 December 2009 - Zhangjiagang Pohang Stainless Steel recently received environmental incentives from the Zhang Jiagang Municipal Government. The grant is given by provincial or municipal governments to companies with leading environmental protection practices.

Anti-Noise Screens Significantly Reduce Noise in Bartovice

04 December 2009 - ArcelorMittal Ostrava has erected three anti-noise screens that separate the Bartovice marshalling yard from the residential zone. A second stage of noise-reduction actions, planned for 2010, will include the erection of a fourth screen.

AK Steel Announces January 2010 Surcharges

04 December 2009 - AK Steel will add a $155 per ton surcharge to invoices for electrical steel products shipped in January 2010.

Corus Pilot Plant to Test CO2-Reducing Technology

01 December 2009 - Corus will test a new iron-making technology, called “Hisarna,” in a pilot plant project at its IJmuiden steelworks in the Netherlands. The technology reportedly has the potential to reduce CO2 emissions in blast furnace steelmaking by more than 50%.

Gerdau Ameristeel Announces $610 Million Refinancing

30 November 2009 - Gerdau Ameristeel enters into a loan agreement to borrow $610 million on arm's length terms from Gerdau Holdings, a subsidiary of Gerdau S.A.

Carpenter Technology Announces Completion of Syndicated Credit Facility

30 November 2009 - Carpenter Technology completes a three-year, $200-million syndicated credit facility.