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North America

All the latest headlines from NAFTA trading partners: the U.S., Canada and Mexico.

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Preliminary Finished Steel Imports Up 15% in 2011 vs. 2010

25 January 2012 - The U.S. imported a total of 1,997,000 net tons of steel in December, down 6% vs. the November final data, according to the latest report from AISI. Finished steel imports were down 9% through the same period.

AK Steel Announces Retirement of Alan McCoy

24 January 2012 - AK Steel announces the retirement of Alan H. McCoy, Vice President, Government and Public Relations, effective January 31, 2012.

2011 World Crude Steel Production Finishes 6.8% Ahead of 2010

24 January 2012 - World crude steel production for the 66 countries reporting to the World Steel Association stood at an estimated 1526.9 million tonnes for the year 2011, 6.8% vs. 2010 and a record for global crude steel production.

RG Steel Restarts Blast Furnace at Sparrows Point, Strengthens Liquidity with New Capital

23 January 2012 - RG Steel announced that the “L” blast furnace at its Sparrows Point plant has resumed operations and should reach normal operating rates within several days. The company also announced that affiliates of Cerberus Capital Management, L.P. and The Renco Group, Inc. have committed to provide RG Steel with significant new capital that improves its liquidity and provides the financial ability to execute its business strategy.

Cliffs Announces 2012 Capital Expenditure Plan

20 January 2012 - Cliffs Natural Resources Inc. announced projected full-year 2012 capital expenditures expectations, including its plans to invest approximately $1 billion, comprised of about $300 million of sustaining capital and $700 million of growth and productivity-improvement capital.

Metal Shipments Show Double Digit Year-Over-Year Growth

19 January 2012 - Service center shipments grew at slightly higher levels in December for both steel and aluminum in Canada, according to the latest Metals Activity Report from the Metals Service Center Institute. In the U.S., steel shipments grew at about half the rate as last month and aluminum-shipment growth remained about the same.

L.B. Foster to Supply Rail, Trackwork Products for V&M Star Pipe Mill

18 January 2012 - L.B. Foster Co. has begun delivery of $3.4 million of rail and trackwork products to rail contractor Wintrow Construction for the construction of 8.5 miles of track and other track materials at the new Vallourec & Mannesmann Tubes (V&M) Star Steel pipe mill in Youngstown, Ohio.

Sunoco Completes Spin-off of SunCoke Energy

18 January 2012 - SunCoke Energy became a 100% publicly traded company this week as a result of Sunoco’s distribution of its remaining SunCoke shares to Sunoco shareholders.

Carpenter and Latrobe Amend Merger Agreement

17 January 2012 - Carpenter Technology has entered into an Amendment of the Merger Agreement with the owners of Latrobe Specialty Metals.

Northwest Pipe to Expand Saginaw Facility

17 January 2012 - Northwest Pipe Company announced plans for a significant expansion to its Saginaw, Texas, manufacturing facility.

Timken Workers Reject Agreement

17 January 2012 - Members of United Steelworkers Local 1123 based in Canton failed to ratify a tentative agreement between their bargaining representatives and Timken.

Stainless Imports up 24.9% Through YTD October 2011

16 January 2012 - Total stainless imports reached 664,583 tons through YTD October 2011 a 24.9% increase compared to YTD October 2010 according to the latest report from SSINA. Total specialty steel imports (comprising stainless steel, alloy tool steel and electrical steel) reached 850,948 tons through the same period, a 25.5% increase.

Severstal NA Hot Commissions New Hot Dip Galvanizing Line

16 January 2012 - Severstal North America’s new Hot Dip Galvanizing Line (HDGL) in Dearborn, Mich., has begun production of galvanized products. The new HDGL includes state-of-the-art controls for coating thickness and surface texture, as well as alloy and phase control.

Advanced Steel Technologies Featured on Car and Truck Award Winners

16 January 2012 - The 2012 North American Car and Truck of the Year—the Hyundai Elantra and Range Rover Evoque—both feature advanced high-strength steel technologies, the Steel Market Development Institute noted. The winners were announced recently at the North American International Auto Show in Detroit.

Esmark Steel Group Announces President of Ohio Operations

13 January 2012 - Esmark Steel Group announced the appointment of steel industry veteran Peter Doyle as President of the company’s Ohio operations.

CMC Responds to Expiration of Tender Offer, Withdrawal of Director Nominees

12 January 2012 - Commercial Metals Co. issued a statement in response to IEP Metals Sub LLC’s announcement that its tender offer has expired and that Mr. Icahn has withdrawn his nominees for election to the company's Board.

Steel Dynamics Announces New Term Loan Facility

12 January 2012 - Steel Dynamics, Inc. has expanded its senior secured credit facility by adding a $275.0 million term loan facility to its existing five-year $1.1 billion revolving credit facility.

Severstal NA to Explore Feasibility of DRI Facility in Trinidad and Tobago

12 January 2012 - Severstal North America has entered into a Memorandum of Understanding with the National Gas Co. of Trinidad and Tobago Ltd., National Energy Corp. Ltd., Complejo Metalurgico Dominicano S.A., and Neal & Massy Holdings Ltd. to conduct a feasibility study for construction of a direct reduced iron (DRI) facility in Trinidad and Tobago.

Lakeside Provides Update on Non-Binding Transaction Proposal

11 January 2012 - Lakeside Steel Inc. announced a 10-daye extension of the period in which the company has agreed to negotiate exclusively with the potential purchaser regarding an acquisition or similar transaction.

SunCoke Energy Announces Election of Three New Directors

10 January 2012 - SunCoke Energy, Inc. announced the election of Karen B. Peetz, John W. Rowe and James E. Sweetnam to the company’s board of directors.

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