Steel News

Algoma Reports Progress on EAF Installation

09 November 2022 - Algoma Steel’s transformative electric arc furnace (EAF) installation remains on track, despite a number of operational setbacks elsewhere that dampened the company’s fiscal second-quarter results.

JSW Steel Lines Up Financing for U.S. Plate Mill Modernization

27 October 2022 - JSW Steel has secured US$182 million in financing for the modernization of its Baytown, Texas, plate mill, the company reports.

H2 Green Steel Finds Debt Financing for Mill Project

26 October 2022 - Swedish steelmaking startup H2 Green Steel has tentatively arranged EUR3.5 billion in debt financing to support construction of its planned mill, the company reports.

Nucor Foresees Record-Breaking Earnings for 2022

20 October 2022 - The steelmaker said despite challenging market conditions amid economic uncertainty, it expects 2022 to be the most profitable year in the company’s history.

Steel Dynamics Reports Record Shipments in Third Quarter

20 October 2022 - In its third-quarter earnings results, Steel Dynamics Inc. yesterday said it achieved record quarterly steel shipments of 3.2 million tons.

U. S. Steel Leans into Market Headwinds

16 September 2022 - United States Steel Corporation expects to report adjusted net earnings of somewhere between US$1.90 and US$1.95 per diluted share this quarter, even as market headwinds begin to impact the business, the company has said.

Nucor Anticipates Record Year, but Comparatively Lower Q3 Results

15 September 2022 - Nucor Corp. expects its third-quarter earnings to fall roughly 13% year over year on lower shipments and prices at its steel mills.

SDI Q3 Earnings Expected to Soften but Sees Underlying Demand Persist

15 September 2022 - Steel Dynamics Inc. expects its third-quarter earnings to drop roughly 23% from the prior three months due in part to lower average flat-rolled prices.

BlueScope Steel Plants a Much Bigger Flag in the U.S.

15 August 2022 - North Star BlueScope Steel has begun ramping up the addition to its Delta, Ohio, USA, plant after having produced the first prime coil in June, the company reports.

Stelco Starts Co-Gen Plant, Posts Q2 Profits, Despite Business Headwinds

11 August 2022 - Stelco started up a 65-megawatt co-generation plant at its Lake Erie Works in the second quarter, which proved profitable in spite of economic headwinds, company executives said on Thursday.

Gerdau Plans Capacity Boost at Texas Mill

04 August 2022 - Gerdau SA will invest approximately US$54.7 million to expand the capacity of its Midlothian, Texas, USA, bar mill, the company said in its second-quarter earnings release.

U. S. Steel Targets Keetac Mine for Upgrade

01 August 2022 - United States Steel Corporation posted a stand-out second quarter on Friday and announced that it had chosen its Keetac iron ore mine for a US$150 million investment.

Stelco Q2 Shipments Appear Bright, but the Company Sees Clouds on the Horizon

25 July 2022 - Stelco expects its second-quarter shipments to increase more than 10% over the prior quarter, pushing up profits, but the company anticipates headwinds in the form of declining steel prices in the remaining half of the fiscal year.

Cliffs: Pent-Up Auto Demand Is Increasing, and So Will Its Bottom Line

22 July 2022 - Cleveland-Cliffs Inc.’s second-quarter profits declined 24% as increased prices for natural gas, electricity, scrap and alloys as well as other one-time charges tamped down earnings.

Nucor Aims for Its Most Profitable Year Ever

21 July 2022 - The company today announced record quarterly consolidated net earnings of US$2.56 billion for the second quarter of 2022.

Steel Dynamics Reports Record Second Quarter

21 July 2022 - The steelmaker on Wednesday announced a record-breaking second quarter in terms of steel shipments, net sales and operating income.

SMS group Incoming Orders Reach 10-Year High

23 June 2022 - Mill equipment manufacturer SMS group said its order intake rose to its highest level in a decade, reaching EU3.5 billion in fiscal 2021.

Commercial Metals Company Forecasts Healthy Steel Demand

20 June 2022 - Fears of a recession to the contrary, Commercial Metals Company (CMC) executives said demand for rebar and other construction steels appears healthy.

U. S. Steel Expects Strong Q2

17 June 2022 - United States Steel Corporation expects to report second-quarter EBITDA of approximately US$1.6 billion, a new second-quarter record, the company said Thursday.

Steel Dynamics Expects a Record Q2

16 June 2022 - Steel Dynamics Inc. said it expects to report another record quarter later this summer, driven in part by strong steel demand and profitability at its steel mills.