Earnings & Finance
Financial announcements from the world's steelmakers.
Latest News
Boston Metal Closes on US$262 Million in Series C Funding
07 September 2023 - Boston Metal, a startup that is developing an electrolysis-based processed for ironmaking, has closed on US$262 million in Series C fundraising, the company has announced.
JFE Plans to Raise Capital for Decarbonization, Expansion Projects
05 September 2023 - Japan’s JFE Holdings is moving to raise approximately JPY200 billion (US$1.37 billion) for decarbonization projects and to expand electrical steel production, according to NikkeiAsia.
Dave Stickler, Koch Minerals & Trading Partner on Startup Rebar Mill
24 August 2023 - Koch Minerals & Trading is contributing to the US$700 million debt and equity financing that is supporting the planned Hybar LLC rebar mill in Arkansas, the company has said.
Cleveland-Cliffs Commissions NOES Expansion
27 July 2023 - Cleveland-Cliffs Inc. has completed an expansion of its Zanesville, Ohio, USA, plant and plans to begin trialing hydrogen in its largest blast furnace, chairman and chief executive office Lourenco Goncalves has said.
Nucor Looks to Start West Virginia Mill Construction Within Weeks
27 July 2023 - Nucor Corp. is continuing to ramp up new and revamped flat-rolled mills in Kentucky as it prepares to launch construction on its West Virginia sheet mill.
Steel Dynamics Inc. Reports Q2 Profit
20 July 2023 - Wider metal spreads and steady demand contributed to a US$812 million quarterly profit for Steel Dynamics Inc. (SDI), the company said Wednesday.
POSCO Unveils Revenue, Capacity Growth Target
13 July 2023 - POSCO will move to increase its global capacity to 52 million metric tons and plans to add non-oriented electrical steel capacity in Korea and North America, The Korea Times reports.
Australia’s InfraBuild Lines Up Financing to Acquire Three U.S. Operations
01 June 2023 - InfraBuild, an Australian long products producer owned by Sanjeev Gupta’s GFG Alliance, has secured financing that will allow it to buy three U.S. wire rod operations also owned by GFG Alliance.
Investment Firm Eyes Green Steel, Low-CO2 Tech Investments
02 May 2023 - Private equity firm Brookfield Asset Management Ltd. is looking to invest in green steelmaking and intends to raise US$15 billion to invest in low-carbon technologies, reports Bloomberg.
H2 Green Steel Begins Its Other Green Effort: Fundraising
25 April 2023 - Steelmaking startup H2 Green Steel has begun seeking EUR1.5 billion in equity funding for its planned facility in Boden, reports the Financial Times.
Cleveland-Cliffs Expects Rise in Adjusted Q1 Profits
11 April 2023 - Cleveland-Cliffs Inc. shipped 4.1 million tons of steel in the first quarter of 2023 and is expecting to report revenues of approximately US$5.2 billion, the company said on Tuesday.
New CMC Micro-Mill Nears Start of Commissioning
06 April 2023 - Commercial Metals Company (CMC) is set to begin commissioning its new Arizona micro-mill later this spring and anticipates receiving a key environmental permit for its planned West Virginia mill in the coming months, according to chief executive Barbara R. Smith.
Algoma Expects Improved Shipments in Fiscal Q4
04 April 2023 - Canada’s Algoma Steel expects to report fiscal adjusted EBITDA earnings of CA$25 million to CA$30 million the fiscal fourth quarter, the company has said.
U. S. Steel Returns Idled Blast Furnace to Service
20 March 2023 - Improving demand and rising prices have prompted United States Steel Corporation to restart an idled blast furnace.
Nucor Anticipates Profitable Q1
16 March 2023 - Nucor Corp. is expecting a softer first-quarter profit, but said its steelmaking, steel products and raw materials businesses are nevertheless off to a strong start in 2023.
Steel Dynamics Sees Healthy Steel Demand, Expects Profitable Q1
15 March 2023 - Steel Dynamics Inc.'s first-quarter earnings are likely to dip roughly 3%, but the company says demand in its steel, scrap and fabricated products businesses remains strong.
The World’s No. 2 Met Coal Exporter is Spinning Off Its Coal Mines. Here’s Why.
23 February 2023 - Canadian miner Teck Resources Ltd. is splitting off its metallurgical coal business into a separate public company that will be owned in part by two of its biggest steelmaking customers, the company has announced.
Nucor Board Approves Additional Funding for W.Va. Sheet Mill
23 February 2023 - Nucor Corp. has marked up the price tag on its planned West Virginia sheet mill, saying the project will cost US$400 million more than first thought.
Ternium to Invest US$2.2 Billion in North American Slab Plant, DRI Furnace
16 February 2023 - Ternium announced Tuesday that it will invest US$2.2 billion in a North American electric arc furnace–based slab plant and direct reduction furnace.
U. S. Steel Restarts Idled Mon Valley Works BF
06 February 2023 - Increasing demand has prompted United States Steel Corporation to restart the No. 3 blast furnace at its Mon Valley Works in Pennsylvania.
