Steel News

Essar Steel Algoma to Vacate Arbitration Decision with Cliffs

20 December 2010 - An Arbitration Panel has decided in favor of Cliffs Mining Co. regarding an iron ore pricing dispute between Essar Steel Algoma and Cleveland Cliffs. Essar Steel Algoma intends to file a court application to vacate the award on the basis that the Arbitration Panel exceeded its jurisdiction.

Nucor Announces Guidance for Q4 Earnings

17 December 2010 - Nucor Corp. announced guidance for its fourth quarter ending December 31, 2010, which supports the company’s qualitative guidance from late October that "the fourth quarter may indeed turn out to be the most challenging quarter of the year." The company expects Q4 results to be in the range of a loss of $0.10 to $0.15 per diluted share.

Steel Dynamics Declares Quarterly Cash Dividend, Provides Q4 Guidance

17 December 2010 - Steel Dynamics' board of directors has declared a quarterly cash dividend of $0.075 per common share, payable on or about January 14, 2011. The company also expects fourth quarter earnings per diluted share, before certain asset impairment charges related to its fabrication operations, to be in the range of $0.05 to $0.10.

Schnitzer Steel to Acquire Steel Pacific Recycling

16 December 2010 - Schnitzer Steel Industries, Inc. has entered into a definitive agreement to acquire substantially all of the assets of Selkirk Recovery, Inc., doing business as Steel Pacific Recycling, of Duncan, British Columbia.

U. S. Steel Makes Additional Management Appointments in North America

14 December 2010 - United States Steel Corp. announced several appointments in its North American operations unit effective Jan. 1, 2011, including naming Scott H. Coleman as General Manager of Great Lakes Works, U. S. Steel's integrated steelmaking facility in Ecorse and River Rouge, Mich.

ThyssenKrupp Opens Steelmaking and Processing Plant in Alabama

13 December 2010 - Following three years of construction, the new steelmaking and processing plant of ThyssenKrupp Steel USA and ThyssenKrupp Stainless USA has officially opened in Alabama. ThyssenKrupp invested US$5 billion in the overall complex, $3.6 billion for the carbon flat steel facilities and $1.4 billion for the stainless area.

ThyssenKrupp Stainless USA to Begins Construction of EAF Meltshop

13 December 2010 - ThyssenKrupp AG Executive Board Chairman Dr. Ekkehard Schulz announces that construction is set to begin on a new stainless slab meltshop for ThyssenKrupp Stainless USA. The shop will comprise a 160-ton EAF, 180-ton AOD converter, and 72-inch continuous slab caster.

Pro-Tec Selects Quaker Chemical as Supplier of the Year

10 December 2010 - Pro-Tec Coating Co. has awarded its Supplier of the Year Award to Quaker Chemical Corp. for demonstrating superior service, offering technical expertise, and supplying Pro-Tec with quality cleaning products and hydraulic fluids.

AK Steel Announces Second Carbon Steel Price Increase

10 December 2010 - AK Steel will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders.

Timken Names New Leader of Global Quality

09 December 2010 - The Timken Co. has named Russell F. Folger as Vice President – Quality Advancement. He assumes the leadership role formerly held by Donna J. Demerling, who retires at the end of December after 38 years with the company.

Nucor Announces Increase in Cash Dividend

09 December 2010 - Nucor’s Board of Directors has increased the regular quarterly cash dividend on the company's common stock to $0.3625 per share from $0.36 per share.

OSHA Fines Republic Engineered Products

08 December 2010 - The U.S. Department of Labor's Occupational Safety and Health Administration has issued Republic Engineered Products Inc. two willful and four serious citations for exposing its workers to fall hazards and failing to maintain equipment and walkways at its Canton, Ohio, facility.

AK Steel Honors Women for Courage, Leadership

06 December 2010 - The AK Steel Foundation is underwriting the Steel Magnolia Awards, honoring eight women who reside in the vicinity of AK Steel's corporate headquarters and plant operations, and who have made a difference in others’ lives.

AK Steel Announces January 2011 Surcharges

03 December 2010 - AK Steel says it will add a $290 per ton surcharge to invoices for electrical steel products shipped in January 2011.

U. S. Steel, Kobe Announce Capital Investment for Pro-Tec Coating

03 December 2010 - United States Steel Corp. and Kobe Steel, Ltd. have reached an agreement for their joint venture, Pro-Tec Coating Co. in Leipsic, Ohio, to begin construction on a continuous annealing line at the facility. Completion of the project is estimated at 24 months.

Court Reverses Power Siting Board Decision on Middletown Coke Facility

03 December 2010 - The Supreme Court of Ohio has reversed the Ohio Power Siting Board’s approval of siting for Middletown Coke Company’s proposed SunCoke Energy facility.

U. S. Steel’s Goodish to Retire; Executive Transitions Announced

03 December 2010 - United States Steel Corp. announced that Executive Vice President and Chief Operating Officer John H. Goodish has elected to retire effective Dec. 31, 2010, after 40 years of service with the company. The company announced several executive transitions effective Jan. 1, 2011, following Goodish's retirement.

AK Steel to Increase Carbon Steel Prices

01 December 2010 - AK Steel will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders.

Universal Stainless Reports Death of Founder Mac McAninch

30 November 2010 - Universal Stainless & Alloy Products, Inc. reported that its founder and recently retired Chairman, Clarence ("Mac") McAninch, passed away on November 27. McAninch founded Universal Stainless in 1994 by joining with a small group of investors to acquire the idled Stainless & Alloy Products Division of Armco Inc., in Bridgeville, Pa.

U. S. Steel Announces Management Changes

30 November 2010 - United States Steel has named Mark G. Tabler as Vice President-Operations at U. S. Steel Kosice. Tabler succeeds Patrick J. Mullarkey, who was recently named President of United Spiral Pipe, the company's large-diameter spiral welded pipe manufacturing joint venture. James F. Dudek will succeed Tabler as Plant Manager-Clairton Plant.