Steel News

Tata Steel Launches Maiden Offer of Perpetual Hybrid Securities

21 March 2011 - Tata Steel Limited has successfully completed India’s first-ever offering of Corporate Hybrid Securities with an issuance of Rs. 1,500 Crores (US$ 332 million).

SMDI Announces Winners of Steel Wheels Design Competition

18 March 2011 - Michelin, Lawrence Technological University, and the Steel Market Development Institute’s Wheels Task Force announced this week the scholarship winners of the steel wheel design competition.

United Steelworkers Form Canada-U.S. Unity Council at Evraz Operations

18 March 2011 - USW local unions representing workers at Evraz NA operations in the U.S. and Canada have formed a "Unity Council" to deal with the company on a common front.

Ruukki to Supply Steel Frame, Facade for Technopolis Ruoholahti Helsinki Phase II

18 March 2011 - Ruukki will supply the steel frame and façade for the second construction phase of Technopolis Ruoholahti Helsinki.

January Steel Shipments up 5.9% from December

18 March 2011 - U.S. steel mills shipped 7,528,655 net tons for the month of January 2011, a 5.9% increase from the 7,111,031 net tons shipped in the previous month according to the latest report from AISI.

Nippon Steel Group Offers Support to the Earthquake-Stricken Areas

17 March 2011 - Nippon Steel Group is donating ￥500 million for relief and reconstruction of areas devastated by the March 11 Pacific Ocean earthquake.

U.S., Canadian Metals Shipments Growth Rate Declined in February

17 March 2011 - Inventory-to-sales ratios for steel and aluminum products rose in February at North American metals service centers, although shipments of those products rose at lower growth rates than in January, according to MSCI’s latest Metals Activity Report.

Fortune Magazine Names Posco as World’s Most Admired Steel Company

17 March 2011 - Posco was selected as the most admired steel company by Fortune magazine, ranking first among metals companies in five of nine categories including innovation, HR management, managing ability, financial health and long-term investment.

Nucor Announces Guidance for First Quarter Earnings

17 March 2011 - Nucor says it expects to report earnings in the range of $0.30 to $0.35 per diluted share for its first quarter ending April 2, 2011.

Shale-Inland Names Main Steel CEO, Forms Executive Team

16 March 2011 - Shale-Inland has named Keith Medick as Chief Executive Officer and formed the executive team for the recently purchased Main Steel Polishing Company.

Kashima Steelworks Makes First Shipment after Earthquake

16 March 2011 - Sumitomo Metals announced that its Kashima Steelworks shipped light-weight H beams, pipe piles and steel sheets this week, the facility’s first shipment since the March 11 earthquake.

Ryerson Acquires Singer Steel

16 March 2011 - Ryerson Inc. has acquired Singer Steel Co., a value-added flat rolled steel processor based in Streetsboro, Ohio.

BHP Billiton Donates US$1 Million to Japanese Disaster Relief

16 March 2011 - BHP Billiton is making a donation of US$1 million to the Red Cross to assist with disaster relief in the wake of the earthquake and tsunami in Japan.

Harsco Wins New Infrastructure Awards from Tata Group

16 March 2011 - Harsco receives new awards from Tata Group that further extend Harsco's ongoing industrial scaffolding support of facility maintenance at Tata Steel for an additional five years.

Gerdau, Rio Government Announce Investment of R$ 2.47 billion

16 March 2011 - The state government of Rio de Janeiro and Gerdau have announced investments of R$ 2.47 billion to increase the production of steel and rolled products at Gerdau’s Cosigua mill.

Additional Details on Effects from Earthquake, Tsunami, Power Outages

15 March 2011 - Goldman Sachs summarizes information from company statements and news reports regarding damages to steel production facilities in Japan following the March earthquake and tsunami. The company is estimating approximately 23% of capacity has received some level of damages or production curtailment.