Steel News

Schnitzer Steel Third Quarter Segment Analysis

01 September 2004 - Metals Recycling Business—The Metals Recycling Business's third quarter 2004 operating income amounted to $32.5 million, representing an improvement of 221% over the third quarter of last year. The increase was primarily driven by higher selling prices and sales volumes. Ferrous metal sales prices averaged a record $237 per ton during the recent quarter, which compares to $133 per ton reported in last year's third quarter and $158 per ton recognized in the second quarter of fiscal 2004. Many of the sales reported in the third quarter of fiscal 2004 were the result of orders taken late in the second quarter when market selling prices for ferrous metals rose to record levels. Third quarter 2004 sales volumes amounted to 445,000 tons, which were 3% higher than the volume shipped in the third quarter of fiscal 2003.

AISI Receives First Royalties from Hot Strip Mill Model Sales

31 August 2004 - The American Iron and Steel Institute (AISI) recently received its first royalties from sales of the Hot Strip Mill Model (HSMM). The model is one of several commercially licensed technologies developed under AISI’s Advanced Process Control program, a collaborative effort among steelmakers and the U.S. Department of Energy (DOE) to put breakthrough technologies on the plant floor.

Ipsco Develops 123-Inch Wide Coil Capability

31 August 2004 - Ipsco Inc. has successfully produced 123-inch wide hot rolled coils at its Mobile, Ala., steelworks, successfully expanding its product line and operating flexibility.

Stelco and Local 8782 Begin Negotiations for Lake Erie Agreement

31 August 2004 - Stelco Inc. announced that the company and Local 8782 have begun negotiations to renew the collective agreement at Stelco's Lake Erie facility.

Schnitzer Sales and Marketing VP Announces Retirement

30 August 2004 - Robert W. Philip announced that Terry Glucoft, Vice President of Domestic Sales and Marketing for Metals Recycling for Schnitzer Steel Industries, Inc., would be retiring from the company at the end of August.

Court Approves Ivaco Sale

27 August 2004 - The Ontario Superior Court of Justice has approved the sale of substantially all of Ivaco Inc.’s assets to an affiliate of Heico LLC in accordance with the Purchase and Sale Agreements previously announced. The transaction is expected to close before year end.

AK Steel Announces September Surcharges

27 August 2004 - AK Steel has advised its flat-rolled carbon steel customers that a $142 per ton surcharge will be added to invoices for products shipped in September. AK Steel also advised its electrical steel customers that a $240 per ton surcharge will be added to invoices for electrical steel products shipped in September.

Roanoke Electric Steel Reports Record 3rd Quarter Results

27 August 2004 - Roanoke Electric Steel Corp. reported net earnings of $7,757,545 on record sales of $129,443,989 for the third quarter ended July 31, 2004.

IMS to Supply X-Ray Gauges for Dofasco Cold Tandem Mill

27 August 2004 - Dofasco Inc., Canada, has placed an order with IMS Systems Inc. for a complete cold tandem mill thickness gauging system.

Ipsco Uses Savings from Process Innovation to Fund Local Education

26 August 2004 - Ipsco Inc. announced that more than $100,000 will be infused into the education system in north Mobile County in the next year. The money is a direct result of savings generated by the Company by substituting scrap tires for carbon in the steel manufacturing process.

Thermo Electron to Supply Gauges for Wheeling Pgh Tandem Mill Upgrade

26 August 2004 - Thermo Electron Corp. will supply Wheeling Pittsburgh Steel Corp. with two Radiometrie RM 215 X-ray thickness gauge upgrades for the 66-Inch Tandem Mill at their Allenport, Pa., facility.

Castrip Process Sets New Sequence Casting Record

26 August 2004 - The Castrip production installation facility at Nucor Corp.'s Crawfordsville, Ind., steel plant, recently cast 7 complete ladles of steel over a 10-hour period.

Stelco Hires Casey to Sell Hamilton Plate Mill

25 August 2004 - Stelco has hired Casey Equipment as Exclusive Sales Agent for the sale of a 148-inch Mesta plate mill.

Steel Dynamics Appoints Vice President for Bar Products Division

25 August 2004 - Steel Dynamics, Inc. has appointed Glenn Pushis to the position of Vice President and General Manager of the Bar Products Division. Pushis has served as General Manager of that division since it was formed in January of 2003.

Cascade Steel President to Retire

24 August 2004 - Robert W. Philip, Chairman and CEO of Schnitzer Steel Industries, Inc. announced the intention of Kurt Zetzsche, President of Cascade Steel Rolling Mills, Inc. to retire Nov. 5, 2004, shortly after his 65th birthday.

New General Managers Named at Three U. S. Steel Facilities

24 August 2004 - United States Steel Corp. announced changes in the leadership at Gary Works, Mon Valley Works and Fairfield Works. The new appointments are effective September 1, concurrent with the promotion of George F. Babcoke, General Manager of Gary Works, to Managing Director of Engineering and Research.

Cleveland-Cliffs Announces Ratification of Contracts

24 August 2004 - United Steelworker-represented employees at the Empire and Tilden Mines in Michigan, and Hibbing Taconite and United Taconite Mines in Minnesota, have ratified new four-year labor agreements. Cleveland-Cliffs manages and holds substantial equity positions in all four mines.

U. S. Steel Announces New Managing Director of Engineering and Research

24 August 2004 - United States Steel Corp. announced the appointment of George F. Babcoke to Managing Director of Engineering and Research, effective September 1.

Coalition Announces Grand Calumet and Indiana Harbor Settlement

23 August 2004 - U. S. Steel, part of a coalition of eight companies, announced last week an historic agreement regarding plans for environmental restoration of the East Branch of the Grand Calumet River and the Indiana Harbor Canal System. The agreement, which should expedite work on the area's natural resources and habitats, settles a natural resources damages claim brought by the state of Indiana and two federal agencies against companies whose operations had allegedly had an adverse effect on the area's environment. The settlement involves eight of the companies.

U. S. Steel Names General Manager of Public Affairs

20 August 2004 - United States Steel Corp. announced the appointment of Charles L. "Chuck" Rice to the position of General Manager—Public Affairs, effective Sept. 1, 2004.