Steel News

Allegheny Technologies Announces Positive Third Quarter Results Despite Economic Uncertainty

24 October 2012 - Continuing uncertainty regarding global economic conditions impacted Allegheny Technologies Inc.'s third quarter 2012 results but the specialty steelmaker sees growth potential in many markets, including the oil and gas/chemical process and jet engine aftermarket, among others.

CMC Reports a Fourth Consecutive Profitable Quarter

24 October 2012 - U.S.-based steelmaker and recycler Commercial Metals Company reported its earnings for the fiscal quarter and year ended 31 August 2012, announcing a fourth consecutive quarter of profitability and the fifth-best year in the company's history, despite a backdrop of weak conditions in most major markets globally.

Outokumpu Reports Unsatisfactory Profitability in a Challenging Environment

24 October 2012 - Finnish stainless steelmaker Outokumpu reported continued positive cash flow but unsatisfactory profitability as it reported its third quarter earnings results. It also provided a short term outlook.

SSAB Reports Operating Loss for Third Quarter 2012

24 October 2012 - Sweden-based steelmaker SSAB says that, despite a tough market, it is continuing to pursue an increasing number of development projects, as it reported its third quarter earnings results.

Universal Stainless Reports Third Quarter 2012 Results

24 October 2012 - As it reported its third quarter 2012 results, Universal Stainless & Alloy Products says it is encouraged by the continued expansion of its aerospace-related businesses, but that other industries have been moving cautiously through the second half of the year due to global economic conditions and overall uncertainty.

JFE Steel and Kanematsu Acquire Premium Threading Business in U.S. for US$91.5 Million

23 October 2012 - JFE Steel Corporation announced it is decided to acquire the premium threading business and related assets of U.S.-based Benoit Machine LLC through a holding company, Benoit Holding Company, which has been jointly established by JFE Steel and Kanematsu USA Inc., a wholly owned subsidiary of Kanematsu Corporation in Japan.

ArcelorMittal Engineer Recognized with Top Award from Chinese Government

23 October 2012 - ArcelorMittal’s Marc Burty, a process development engineer, has won a prestigious award from the Chinese government for his work with Lianyuan Steel (LYS), a subsidiary of Hunan Valin Steel in which ArcelorMittal owns a stake.

AK Steel Reports Net Loss in Third Quarter of 2012

23 October 2012 - AK Steel reported a net loss of $60.9 million for the third quarter of 2012 as challenging domestic and global economic conditions continued to weigh on shipping volumes and prices.

Carpenter Technology Reports Positive Quarterly Results

23 October 2012 - Carpenter Technology Corp. reported its results for the quarter ended 30 September 2012, noting some areas where customer demand has softened recently, but other attractive end markets where demand is strong for its ultra-premium and premium products.

ArcelorMittal Invests €6m in Belval

23 October 2012 - ArcelorMittal Belval & Differdange has approved a revamp of the core components of the Belval electric arc furnace (EAF) in Luxembourg.

Siemens Receives Final Acceptance Certificate for EAF at Outokumpu in Finland

23 October 2012 - Outokumpu Oy, a Finnish steelmaker, issued Siemens VAI Metals Technologies in April with the final acceptance certificate for electric arc furnace no. 1 in the Tornio Stainless Steel Works.

OAO Vorkutaugol Commissions New Coal Face at the Komsomolskaya Mine

23 October 2012 - Severstal announced a new coal face, with estimated resources of more than 1.16 million tons of coking coal, has been commissioned at OAO Vorkutaugol’s Komsomolskaya mine in Russia.

Outokumpu Featured in Carbon Disclosure Leadership Index for Third Consecutive Year

23 October 2012 - Outokumpu’s approach to climate change disclosure is again recognized by the Carbon Disclosure Project (CDP) and Outokumpu is included in the Carbon Disclosure Leadership Index for the third consecutive year.

Mechel Reports Suspension of Mechel Bluestone Mining Facilities

22 October 2012 - Mechel OAO reports the temporary halting of mining facilities of Mechel Bluestone in West Virginia due to high accumulated inventories of coal.

Ruukki Obtains CE Marking Rights

22 October 2012 - Ruukki has obtained CE marking rights for welded steel structures in building construction projects. For customers, CE marking means the technical dependability and safety of frame structures.

ArcelorMittal Poland Starts Up Investment at its Kraków Unit

19 October 2012 - ArcelorMittal Poland continues its investment program with the commencement of a coke gas cleaning installation in the Kraków coke plant.

Steelworkers Ratify Contract with ArcelorMittal

19 October 2012 - The United Steelworkers (USW) said that workers represented by 14 local unions at ArcelorMittal USA facilities have ratified a three-year contract.

AK Steel Responds to WTO Decision That Chinese Duties Violated Rules

19 October 2012 - AK Steel commended the U.S. Trade Representative for successfully defending China’s appeal of a World Trade Organization (WTO) panel decision that China had no legal basis to impose antidumping and countervailing duties on imports of grain oriented electrical steel (GOES) from the U.S. beginning in December 2009.

Insteel Industries Reports Fourth Quarter and Fiscal 2012 Results

18 October 2012 - As it announced its fiscal fourth quarter results, Insteel Industries reported demand for its products remained depressed in its fiscal fourth quarter due to continued weakness in its construction end markets.

China Loses WTO Appeal in U.S. Specialty Steel Case

18 October 2012 - China comprehensively lost an appeal on Thursday against a World Trade Organization ruling in a dispute over U.S. exports of a specialty steel product that is primarily made in the presidential battleground states of Ohio and Pennsylvania.