Steel News

Talley Metals Increases Stainless Bar Prices

23 July 2004 - Talley Metals, a subsidiary of Carpenter Technology Corp., is increasing prices for all grades of stainless steel round bars, hexagons and squares by 3 to 7%, effective with new orders and shipments as of August 2.

Roanoke Electric Steel Announces Executive Elections

23 July 2004 - At a recent meeting of Roanoke Electric Steel Corp.’s Board of Directors, William M. Watson Jr. was elected General Counsel and Secretary, effective August 2, 2004. Watson, 49, replaces T. Joe Crawford as Corporate Secretary.

U. S. Steel Executive Vice President to Retire

23 July 2004 - United States Steel Corp. announced that J. Paul Kadlic, Executive Vice President—Commercial, will retire on September 30, following 40 years of dedicated service to the company.

Timken Posts Record Sales in Second Quarter

23 July 2004 - The Timken Co. reported net income of $25.3 million on record sales of $1.1 billion for the second quarter of 2004.

Ipsco Reports Record Earnings in Second Quarter

23 July 2004 - Ipsco Inc. announced record quarterly earnings attributable to common shareholders of $66.4 million on record sales of $548.3 million for the quarter ending June 30, 2004.

Nucor Reports Record Results for Second Quarter

23 July 2004 - Nucor Corp. announced record consolidated net earnings of $251.4 million on sales of $2761.8 million for the second quarter, and consolidated net earnings of 364.7 million on consolidated net sales of $5048.2 million for the first half of 2004.

Allegheny Ludlum to Add Surcharge for Silicon Steels

22 July 2004 - Allegheny Ludlum announced it will add a surcharge of $135 per ton ($6.75/cwt.) to silicon electrical steel invoices.

Carpenter Raises Prices for Stainless and Premium-Melted Specialty Alloy

22 July 2004 - Carpenter Technology Corp.’s Specialty Alloys Operations unit announced that it will increase base prices 3 to 10% on stainless steel bar products, effective immediately on new orders and with August 1st shipments. Carpenter also will increase base prices 7 to 10% on all premium-melted alloys effective immediately on new orders.

Universal Stainless Reports 2nd Quarter Income

22 July 2004 - Universal Stainless & Alloy Products, Inc. reported net income of $1.6 million on near-record sales of $29.0 million for the second quarter of 2004.

Timken and United Steelworkers Enter Early Contract Negotiations

22 July 2004 - The Timken Co. and the United Steelworkers union announced that they have agreed to enter early formal negotiations over the current labor contract, which expires in September 2005.

Stelco to Close Rod Mill

22 July 2004 - Stelco Inc. announced that it will close its Rod Mill in September of this year. The company says the move is being made in an effort to focus on sustainable and profitable product lines.

Allegheny Technologies Announces 2nd Quarter Results

21 July 2004 - Allegheny Technologies Inc. reported net income of $26.6 million on sales of $646.5 million for the second quarter, and a net loss of $23.8 million on sales of $1224.3 million for the six months ended June 30, 2004.

AK Steel Reports 2nd Quarter Income

21 July 2004 - AK Steel reported net income of $92.7 million on net sales of $1,311.8 million for the second quarter of 2004, and net income of $258.1 million on net sales of $2,446.2 million for the first six months.

Steel Dynamics Announces Record Quarterly Earnings

21 July 2004 - Steel Dynamics, Inc. announced record second quarter earnings of $67.3 million on net sales of $526 million for the second quarter of 2004.

Republic Announces Second Quarter Profit

21 July 2004 - Republic Engineered Products Inc. announced net income of $7.4 million on revenues of $288.2 million for the three months ended June 30, 2004. The profitable quarter was the second in a row for Republic, which was established in December 2003.

AK Steel Appoints New Corporate Officers

20 July 2004 - AK Steel has appointed John J. Kuzman Jr., 51, Chief Compliance Officer, and Roger K. Newport, 39, Chief Accounting Officer, both new officer posts for the corporation.

Mesabi Trust Declares Distribution

20 July 2004 - Trustees of Mesabi Trust declared a distribution of $0.175 per Unit of Beneficial Interest payable on August 20, 2004 to Mesabi Trust unitholders of record at the close of business on July 30, 2004. This compares to $0.07 per Unit for the same period last year.

Canadian Trade Tribunal to Commence Interim Review of Hot Rolled Carbon Steel Plate

20 July 2004 - The Canadian International Trade Tribunal has initiated an interim review of its finding on dumped hot-rolled carbon steel plate from Brazil, Finland, India, Indonesia, Thailand and Ukraine, and subsidized hot-rolled carbon steel plate originating in or exported from India, Indonesia and Thailand.

Letter of Intent Signed for Acquisition of Kentucky Electric Assets

20 July 2004 - YouthStream Media Networks, Inc. has entered into a preliminary letter of intent with KES Holdings, LLC to acquire KES Acquisition Co., LLC, a 100%-owned subsidiary of KES Holdings. YouthStream currently owns a 1.00% membership interest in KES Holdings.

Cleveland-Cliffs and USWA Renew Negotiations

20 July 2004 - Cleveland-Cliffs Inc. is returning to the bargaining table with the United Steelworkers of America (USWA). The parties will work toward the goal of achieving a labor agreement by July 31 that will ensure the long-term competitiveness of the company while giving employees significant wage increases.