Steel News

Imports Dampen Nucor Earnings

20 October 2017 - Nucor Corp. saw its third-quarter profits reduced by 12% as import pressures prevented it from recovering rising raw material costs, the steelmaker said Thursday .

Improved Sales Lift Cleveland-Cliffs Q3 Profits

20 October 2017 - Iron ore miner Cleveland-Cliffs Inc. posted a profitable third quarter on better demand and prices.

Steel Imports, Refinancing Mute Steel Dynamics' Q3 Profits

19 October 2017 - Third-quarter profits at Steel Dynamics Inc. slipped 2.5% on costs associated with debt refinancing and competition from imports, which limited price increases, the company announced Thursday.

Steel Dynamics' Third-Quarter Earnings Expected to Miss Forecast

20 September 2017 - Steel Dynamics Inc. said it expects to report third-quarter earnings of between 61 cents and 65 cents per share, missing analysts’ expectations.

BlueScope Steel Names New Chief Executive

21 August 2017 - Australia’s BlueScope Steel Ltd. has a named a company veteran to succeed chief executive Paul O’Malley, who is set to retire at the end of the year.

TMK Looks for Strong Second Half of 2017

21 August 2017 - Russian tubemaker PAO TMK posted a US$19 million loss in the second quarter, but remained profitable through the first half of 2017, the company said.

Tenaris Posts US$73 Million Profit on Rising North America Tube Sales

04 August 2017 - Tubemaker Tenaris SA saw sales of seamless and welded tube increase 31% to 624,000 tons in the second quarter, the company reported.

Better Steel Prices Strengthen Ternium's Second-Quarter Profits

02 August 2017 - Second-quarter profits at Latin American steel producer Ternium rose nearly 62% on higher steel prices, the company said.

TimkenSteel Posts US$1.3 Million Profit in Second Quarter

31 July 2017 - New steel orders helped pushed TimkenSteel’s second-quarter earnings into the black.

U. S. Steel Posts US$162 Million Profit in Second Quarter

26 July 2017 - United States Steel Corporation swung to profitability in the second quarter on higher average steel prices.

Steel Dynamics Takes One to the Snout

21 July 2017 - A bad line component forced Steel Dynamics Inc.’s (SDI) new Galvalume and paint lines to go down in the second quarter, contributing to an estimated US$30 million impact on earnings, SDI chief executive Mark Millett said on Thursday.

Higher Steel Prices Boost Q2 Profits at Steel Dynamics

20 July 2017 - Steel Dynamics Inc. saw its second-quarter profits rise 8.5% on higher average prices for its steel.

Commercial Metals Sees Third-Quarter Profits Rise

22 June 2017 - Stronger shipments of scrap and mill products helped advance Commercial Metals Company’s third-quarter profits, which rose to US$39.3 million, the company said Thursday.

Nucor Anticipates Softer Second-Quarter Profits

15 June 2017 - Nucor Corp. said it expects its second-quarter earnings to fall short of its first-quarter results as competitive pressure mitigates profits.

North American OCTG Demand Lifts TMK Profits

19 May 2017 - Russian tubemaker TMK posted a US$42 million profit in the first quarter of 2017, buoyed by an improving oil and gas market in North America.

U. S. Steel to Restart Idled Tube Mill

26 April 2017 - United States Steel Corp. said it is restarting an idled electric-weld tube line in Texas and has reconsidered the closing of a pipe processing line in Ohio.

U. S. Steel Speeds Up Mill Upgrades at the Expense of Near-Term Earnings

26 April 2017 - United States Steel Corp. shares slid nearly 27% on Wednesday after the integrated steelmaker posted an unexpected US$180 million loss and said an accelerated plan to rehab its mills would cut into future earnings.

Steel Dynamics Sees Increase in Demand, Profits

20 April 2017 - Improving steel demand and rising prices allowed Steel Dynamics Inc. to more than double its first-quarter profits, the company said on Wednesday.

SDI Expects Q1 Earnings to Rise Sharply

20 March 2017 - Steel Dynamics Inc. is forecasting a significant improvement in its first-quarter earnings on rising shipments and expanding spreads.

ArcelorMittal Swings to Profitability in 2016; Plans Capital Spending Increase

10 February 2017 - Coming off its worst year since the 2006 merger that created it, ArcelorMittal recorded a US$1.8 billion profit in 2016 on an improving steel market and early savings in a turnaround initiative, reports the (London) Financial Times.