Earnings & Finance
Financial announcements from the world's steelmakers.
Latest News
GFG Alliance Reveals Plans for Australian DRI Plant, EAF
10 June 2020 - Sanjeev Gupta’s GFG Alliance will build a direct reduction plant and electric arc furnace (EAF) under a revised investment plan for its Whyalla steel works in Australia, the company has announced.
voestalpine Delays Opening of Special Steel Plant
05 June 2020 - Delayed deliveries are forcing voestalpine to push back the expected completion date of its advanced special steel plant in Kapfenberg, Austria.
Cleveland-Cliffs Eager to Resume HBI Plant Construction
12 May 2020 - Cleveland-Cliffs Inc. plans to resume work on its hot briquetted iron plant as soon as possible to meet anticipated demand, chairman and chief executive Lourenco Goncalves said.
ArcelorMittal: China’s Excess Steel Inventory Hasn’t Hit the World Market
11 May 2020 - China so far appears to be absorbing the massive steel volumes that piled up during its COVID-19 lockdown, alleviating some of the fears that its excess steel would flood world markets, ArcelorMittal executives said.
SDI: No Changes Yet to Texas Mill Construction Schedule
21 April 2020 - Steel Dynamics Inc. (SDI) said it continues to aim for a mid-2021 start-up of its new Texas sheet mill, but will re-evaluate that goal as the year progresses.
U. S. Steel Issues Q1 Earnings Guidance
20 March 2020 - United States Steel Corporation expects to record a first-quarter loss due in part to difficulties in the tubular market and the European sheet market, both of which are occurring against the backdrop of a global pandemic, the company said on Friday.
Nucor, SDI Off to Solid 2020 Start, But Coronavirus Consequences Loom
19 March 2020 - Impacts from the coronavirus have so far been minimal, but Nucor and Steel Dynamics said Thursday that they each expect to see fallout further down the road.
Mittal: 2019 ‘A Very Tough Year,’ But Better Days Might Be Ahead
06 February 2020 - Although ArcelorMittal ended 2019 in the red, the world’s largest steelmaker reported better-than-expected profits in the final quarter of the year and is seeing signs of improvement in Europe, Brazil and the U.S., reports the (London) Financial Times.
Work Begins on Nucor Plate Mill
29 January 2020 - Nucor Corp. has begun moving earth for its US$1.35 billion plate mill in Kentucky and has struck an arc on the electric arc furnace (EAF) at its new rebar mill in Missouri, Nucor president and chief executive officer Leon Topalian said on Tuesday.
Record Mill Shipments, Strong Sales Contributed to Profitable Year at SDI
23 January 2020 - Despite falling steel prices that marked much of 2019, Steel Dynamics Inc. (SDI) recorded one of its best years ever, posting record shipments and near-record net sales, the company reported Thursday.
With Construction Still Going Strong, Commercial Metals Records Profitable Q1
07 January 2020 - An expanded Commercial Metals Company took advantage of a healthy construction market and posted some of its best first-quarter results in years, the steelmaker said on Monday.
Worthington Acquires Majority Stake in Samuel Steel Pickling Co.
06 January 2020 - Steel processor and cylinder manufacturer Worthington Industries is rolling a newly acquired facility into its sheet processing joint venture with Samuel, Son & Co. and has taken the majority stake in the business.
Steel Demand Intact, But SDI Expects Lower Q4 Profits
17 December 2019 - Planned outages, lower prices and seasonally lower shipments are likely to offset Steel Dynamics Inc.’s fourth-quarter profits, the company has said.
Nucor Expects Q4 Profits to Dip, But Sees Improvement in 2020
16 December 2019 - Nucor Corp. is expecting its fourth-quarter profits to fall on account of lower steel prices and higher scrap prices, the company has said.
TMK Sees Revenue Dip in First Three Quarters of 2019
20 November 2019 - Revenues at Russian oil country tubular goods maker PAO TMK declined 4% through the first nine months of 2019 on account of reduced sales in North American and Europe, the company said Wednesday.
Gupta Family Steel Mills to Unite Under One Flag, Liberty Steel Group
29 October 2019 - Sanjeev Gupta’s GFG Alliance will consolidate its steel operations into a single, global entity with 18 million metric tons of rolling capacity, Gupta announced Tuesday.
Nucor Wrapping Up Several Key Projects
23 October 2019 - Nucor Corp.’s new galvanizing line at its Kentucky sheet mill coated its first coil last month, one of several major capital projects nearing the finish line.
Nucor, SDI Say Lower Steel Prices Likely to Weigh on Q3 Profits
18 September 2019 - Steel Dynamics Inc. and Nucor Corp. are forecasting lower third-quarter profits on account of declining steel prices.
Imports, Lower Prices Weigh on ArcelorMittal in Q2
01 August 2019 - ArcelorMittal recorded a US$447 million loss in the second quarter and said it planned to divest US$2 billion in assets over the next two years.
Commercial Metals Sees Strength in Non-Res Construction, Completes Ramp-Up of New Mill
24 June 2019 - Buoyed by continuing strength in non-residential construction, long products maker Commercial Metals Company saw its fiscal third-quarter profits nearly double to US$78.4 million.
