Steel News

Wheeling-Pittsburgh Steel Refinances Revolving Credit Facility

12 July 2005 - Wheeling-Pittsburgh Steel Corp. announced that effective July 8, 2005, it refinanced its revolving credit facility primarily with its current lenders.

Stainless Steel Imports Jump 26% Ahead of Year-to-Date 2004 Totals

11 July 2005 - Total stainless steel imports climbed to 234,130 tons through the first four months of 2005 — a 26% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA). As imports climbed, U.S. consumption remained flat at 800,512 tons, bringing four-month import penetration to 29%, a six percentage point increase compared to the same period in 2004.

Dofasco Completes Blast Furnace Rebuild

11 July 2005 - Dofasco announced the successful start-up of its No. 2 Blast Furnace, which was completely rebuilt over the last year to incorporate the world's most advanced ironmaking technology.

TXI Declares Spin-Off of Chaparral Steel

08 July 2005 - The Texas Industries, Inc. Board of Directors has approved the separation of its wholly-owned steel business, Chaparral Steel Co., from TXI by means of a tax-free stock dividend.

Allegheny Ludlum to Increase Silicon Electrical Steel Prices

07 July 2005 - ATI Allegheny Ludlum is increasing prices for grain-oriented silicon electrical steel products by approximately 26%.

Carpenter Announces New Vice President

06 July 2005 - Carpenter Technology Corp. announced that Richard Simons will join Carpenter Technology Corp. as Vice President and Corporate Controller.

Arbitrator Issues Ruling in Middletown Works Base Workforce Issue

06 July 2005 - AK Steel said that an arbitrator has issued a ruling on the company's 2004 suspension of a minimum base workforce plan covering hourly maintenance and operating employees at the company's Middletown Works represented by the independent A.E.I.F. union.

Timken Contracted to Develop Advanced Bearing Technology

01 July 2005 - Timken has been awarded additional orders under an existing $20 million U.S. Air Force contract for hybrid bearing development. Worth approximately $7 million, the new orders focus on the quality assurance of rolling elements and new cage materials for bearings that will be used in current and next-generation gas turbine aircraft engines.

AK Steel to Increase Prices for Electrical Steels

01 July 2005 - AK Steel will increase spot market transaction prices for its Regular Grain Oriented and Tran-Cor(R) H electrical steel products, effective with shipments on and after August 1, 2005.

Wheeling Corrugating Bridge Deck Showing up in Construction Projects

01 July 2005 - Wheeling-Pittsburgh Steel reports that steel deck made by the company's Wheeling Corrugating Company (WCC) will be used in many highway projects locally and throughout the United States.

Stelco Comments on Georgian Windpower Situation

01 July 2005 - Stelco Inc. commented on reasons issued by the Superior Court of Justice (Ontario) regarding an application brought by Georgian Windpower Corp. (GWC) and heard by the Court on June 27, 2005.

VAI to Install Downcoiler at Sollac Mediterranee

01 July 2005 - Voest-Alpine Industrieanlagenbau (VAI) was recently awarded a contract by Sollac Méditerranée, a company of the Arcelor group, to supply a new high-duty downcoiler for their existing Hot Rolling Mill at Fos sur Mer, France.

ThyssenKrupp Stahl and JFE Establish Joint Venture in Japan

01 July 2005 - Steel producers ThyssenKrupp Stahl AG, Germany, and JFE Steel Corp., Japan, have established a joint venture company, JEVISE Corp.

Mittal Steel Submits Formal Offer to Purchase Vitkovice Steel

01 July 2005 - Mittal Steel Co. NV submitted a direct offer to the Government of the Czech Republic to purchase 98.96% shareholding in Vitkovice Steel.

VAI to Supply LD Converter Steel Plant for Alchevsk

01 July 2005 - Voest-Alpine Industrieanlagenbau GmbH & Co. (VAI) recently signed a contract with Alchevsk Iron and Steel Works (Ukraine), for the supply of a new steel plant. The facility will incorporate two 300-tonne LD converters, each capable of producing 5.4 million tonnes of steel per year.

VAI to Modernize Posco Pickling and Oiling Line

01 July 2005 - Voest Alpine Industrieanlagenbau GmbH (VAI) received a contract from Posco, South Korea, to modernize a Pickling and Oiling Line in their Kwangyang works. The upgraded line will have an annual capacity of 800,000 tonnes of high quality sheet for direct sale in local and international markets.

ThyssenKrupp Acciai Speciali Orders Seventh Cold Mill from SMS Demag

01 July 2005 - ThyssenKrupp Acciai Speciali in Terni, Italy, has placed an order with SMS Demag AG, Germany, for the supply of a seventh 20-roll cold rolling mill for the manufacture of stainless steel strip.

Posco to Construct Integrated Steelworks in India

01 July 2005 - Posco recently signed a memorandum of understanding with the Orissa State government of India for construction of an integrated steelworks and development of a mine at Bhubaneswar, the capital of Orissa.

AISI Joins the Metal Initiative

30 June 2005 - The American Iron and Steel Institute (AISI) has joined The Metal Initiative, a coalition of metal construction product manufacturers and suppliers created to communicate the value of metal roofing and siding for commercial building applications.

TXI Prices Senior Notes Issued by Chaparral Steel

30 June 2005 - Texas Industries, Inc. announced that its wholly-owned steel business, Chaparral Steel Co., has priced its $300 million aggregate principal amount senior notes due 2013 at 10%.