Steel News

Cleveland-Cliffs, NYSE Mark 175 Years in Business

04 May 2022 - In celebration of its 175th anniversary, Cleveland-Cliffs Inc. chairman and chief executive Lourenco Goncalves and other company executives rang the New York Stock Exchange (NYSE) closing bell on Tuesday.

Steel Industry’s Overcapacity Could Trigger Sharp Downturn, Says OECD

27 September 2021 - During its 90th session, the Organisation for Economic Co-operation and Development (OECD)’s Steel Committee warned of potential future downturns if the growth in steel demand slows.

Cleveland-Cliffs’ Next Big Moves: Scrap, Electrical Steel

26 August 2021 - Cleveland-Cliffs Inc. is preparing to enter the steel scrap business and plans to modernize its electrical steel plant in Pennsylvania, chairman and chief executive Lourenco Goncalves said on Monday.

Algoma Closes in on EAF Investment Decision

24 August 2021 - Integrated steelmaker Algoma Inc. is nearing a final investment decision on its proposed transition to electric steelmaking, the company’s chief executive has said.

U. S. Steel Reports a Stronger Q2 Than Last Year

03 August 2021 - United States Steel Corporation reported adjusted net earnings of US$964 million for the second quarter.

Cleveland-Cliffs Completes Major Share Buyback; Announces Indiana Harbor BF Maintenance Outage

29 July 2021 - Cleveland-Cliffs Inc. has spent US$1.2 billion to buy back all of the shares in a special class of stock held by ArcelorMittal.

Nucor's Q2 Earnings Were Its Best Ever

27 July 2021 - Nucor Corp. reported a record second quarter amid robust demand and higher average selling prices.

SDI Posts Another Record Quarter: 'We Can't Make Enough Steel'

20 July 2021 - Steel Dynamics Inc. posted a record second quarter on Monday and said it potentially could do even better in the three months ahead.

Mill Supplier Sees ‘Unprecedented’ Demand

01 July 2021 - The steel industry is benefitting from robust demand, but so too are mill equipment suppliers, the president of The Systems Group said Thursday.

Nucor Expects to Report Record Earnings — Again

16 June 2021 - Nucor Corp. is expecting to repeat its record-quarter performance, with strong demand and higher average selling prices lifting its profitability to new highs.

Nucor Makes US$1B Acquisition in Construction Products Market

07 June 2021 - Nucor Corp. is taking a bigger step into the downstream construction market, announcing Monday that it has an agreement to acquire Cornerstone Building Brands’ insulated metal panel (IMP) business for US$1 billion in cash.

Report: Republic Steel Might Resume Rolling Operations at Ohio Mill

06 May 2021 - Republic Steel is eyeing a potential restart of its Lorain, Ohio, rolling mill, reports The (Elyria, Ohio) Chronicle-Telegram.

Iron Ore Prices Set New Record

29 April 2021 - Steel prices have taken off as global demand recovers, but so too have iron ore prices, reports commodities news and pricing service S&P Global Platts.

Rising Steel Prices Prompt BlueScope to Raise Earnings Expectations

27 April 2021 - Australian steel producer BlueScope is revising up its second-half earnings forecast, largely due to the strength in the U.S. sheet market and performance of the company’s North Star mill.

Nucor: A Record Quarter Is on the Books, Another Could Be Coming

22 April 2021 - Nucor Corp. saw its first-quarter earnings soar to a record US$942.4 million on strength in demand and high average selling prices, the company announced Thursday.

SDI Reports Record Q1 Profit, Prepares to Start Parts of Texas Mill

22 April 2021 - Steel Dynamics Inc. (SDI) is reiterating expectations that it will start process lines at its new flat-rolled mill late this spring.

Tenaris to Resume Production at Steel Shop, Pipe Mill

19 April 2021 - Tenaris is nearing completion of improvements to its Koppel, Pa., USA, steel shop and is planning to soon restart operations there and at its Ambridge, Pa., seamless pipe mill.

World Steel Forecasts Demand Rebound

15 April 2021 - Global steel demand is expected to grow 5.8% this year, assuming that second and third waves of the COVID-19 pandemic subside by the end of June and that the world continues to make headway with vaccinations.

Report: Lowered EU Steel Demand Will Necessitate Capacity Cuts

05 April 2021 - The COVID-19 pandemic probably has erased five to 10 million tons of European Union steel demand, and producers there will have to shed capacity, according to a new paper from management consultancy McKinsey & Co.

SDI Thinks a Record Quarter Is in the Offing

18 March 2021 - Steel Dynamics Inc. said it potentially could post a record profit in the first quarter as strong demand and rising prices boost its bottom line.