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Lower Prices, Shipments Likely to Dent Algoma Q3 Earnings
11 January 2023 - Canada’s Algoma Steel Inc. said Tuesday it expects to report a fiscal Q3 adjusted loss before interest, taxes, depreciation and amortization of between CA$35 million and CA$45 million due to lower plate shipments, softer steel prices and routine, seasonal maintenance work.
SSAB Partners With Service Center on Green Steel Distribution
11 January 2023 - Swedish service center operator Stena Stål has signed a letter of intent with SSAB to distribute the steelmaker’s fossil-fuel-free steel, becoming the first external supplier of the product.
Primetals Technologies Sees Third of Seven Offgas Cleaning Plants Placed Into Service
10 January 2023 - Primetals Technologies has started up the third offgas cleaning plant at the Acciaierie D’Italia mill in Taranto, Italy, the plant builder reports.
Danieli Cheers Nucor Corp. Plate Mill Start
10 January 2023 - Along with Nucor Corp, Danieli is celebrating the rolling of the first plate at the steelmaker’s new US$1.7 billion Kentucky plate mill and calling attention to the role its equipment will play there.
Healthy Demand Pushes Up CMC’s Q1 Profits
09 January 2023 - Long products maker Commercial Metals Company (CMC) saw its fiscal first quarter profits rise 12% due in part to strength in North American demand, the company said on Monday.
Nucor Plate Mill Reaches Start-Up Milestone: Its First Plate
03 January 2023 - Nucor Corp.’s new US$1.7 billion plate mill has rolled its first plate and is undergoing final commissioning, the company announced Tuesday morning.
Proposed Finnish Steel Mill Finds a Home
03 January 2023 - Norwegian steel startup Blastr Green Steel has signed a letter of intent with Finnish state-owned energy company Fortum oyj for an industrial site in the western part of the country.
Outokumpu Finalizes Sale of Long Products Unit
03 January 2023 - Outokumpu has completed the sale of its stainless long products business to Marcegaglia after competition regulators approved the deal.
Olympic Steel Expands Through US$131 Million Acquisition
03 January 2023 - Olympic Steel Inc. has acquired steel venting and filtration products fabricator Metal-Fab Inc. for US$131 million, the company has announced.
Nucor Announces New Continuous Galvanizing Line for California Steel Industries
20 December 2022 - The 400,000-tons-per-year line to be constructed in Fontana, Calif., USA, will bring California Steel Industries’ (CSI) total hot-dip capacity to 1.2 million tons per year.
Danieli Tapped for Tata Steel SBQ Project
19 December 2022 - Tata Steel Group has selected Danieli to provide a 500,000-tons-per-year special bar quality (SBQ) bar and wire rod mill in Jamshedpur, India, the equipment supplier announced last week.
Steel Dynamics Expects Q4 Earnings to Decline
16 December 2022 - Steel Dynamics Inc. (SDI) is forecasting its fourth-quarter earnings to fall roughly 39% over the prior year due in part to tightening metal spreads, especially at its flat-rolled operations.
Nucor Expects Q4 Earnings to Slide, Announces Expansion of Steel Towers Business
16 December 2022 - Nucor Corp. expects its fourth-quarter earnings to fall roughly 45% due in part to lower volumes and lower average selling prices, the company said on Thursday.
HarbisonWalker Agrees to Be Acquired by Private Equity Firm
16 December 2022 - Refractories maker HarbisonWalker International is being acquired by a private equity firm that plans to expand the manufacturer's reach by combining it with a refractories producer in Europe.
SMS group Unveils DC Power System for Metals Plants
16 December 2022 - SMS group has launched sales of an internal DC grid that promises to help steel mills decarbonize production and run more efficiently.
LIBERTY Steel USA Refinances Debt
16 December 2022 - LIBERTY Steel USA has refinanced a term loan and raised an existing asset-based lending facility to US$150 million, moves that will provide the wire rod producer with additional liquidity, the company has announced.
British Steel Turns to Danieli for Wire Rod Mill Improvement
16 December 2022 - British Steel has ordered intelligent guides from Danieli Morgårdshammar Guide Systems for its 4-strand wire rod mill in Scunthorpe, England, the equipment manufacturer reports.
Nucor Names New Executive Vice President
15 December 2022 - Nucor Corp. vice president and AIST member Noah Hanners is being promoted to executive vice president, the company said on Tuesday.
U. S. Steel Starts Pig Iron Caster
14 December 2022 - United States Steel Corporation’s US$60 million pig iron caster has produced its first batch and is beginning to ramp up, reports The Times newspaper of northwest Indiana.
Report: Renewables Could Overtake Coal as World’s Largest Power Source by 2025
14 December 2022 - Russia’s invasion of Ukraine and the energy crisis it set in motion are greatly accelerating the growth of renewable energy capacity, so much so that renewables could surpass coal as largest global source of electricity by 2025, reports the International Energy Agency (IEA).
