Steel News

Schnitzer Reports 1st Quarter Fiscal 2012 Results

10 January 2012 - Schnitzer Steel Industries reported $0.25 diluted earnings per share from continuing operations for its fiscal 2012 first quarter ended November 30, 2011.

USITC to Uphold Existing AD Order on Light-Walled Rectangular Pipe and Tube from Taiwan

09 January 2012 - Existing antidumping duty order on light-walled rectangular pipe and tube from Taiwan will be upheld as a result of the USITC’s determination that revoking the orders would be likely to lead to material injury within a reasonably foreseeable time.

SunCoke Reports Preliminary 4th Quarter U.S. Coke Production

09 January 2012 - SunCoke Energy reported preliminary U.S. coke production of an estimated 1,015 thousand tons for the fourth quarter of 2011, reflecting an increase of 100,000 tons versus the same period in 2010.

CMC Reports Improved First Quarter Earnings

09 January 2012 - Commercial Metals Co. reported net earnings of $107.7 million on net sales of $2.0 billion for the fiscal first quarter ended November 30, 2011.

Cliffs to Sell Discontinued renewaFUEL Biomass Plant

06 January 2012 - Cliffs Natural Resources has reached agreement for the asset sale of its renewaFUEL biomass production facility to RNFL Acquisition LLC, an acquisition entity created by an investor group that includes renewaFUEL's minority partners.

Finished Steel Import Permit Tons up 16% in 2011 vs. 2010

06 January 2012 - Steel import permit applications totaled 2,208,000 net tons for the month of December 2011, a 9% increase from the 2,027,000 permit tons recorded in November 2011 according to the latest report from AISI.

Worthington Reports Second Quarter Results

06 January 2012 - Worthington Industries, Inc. reported net sales of $570.4 million and net earnings of $18.5 million, or $0.27 per share, for its fiscal 2012 second quarter ended November 30, 2011, compared to last year's reported net sales of $580.7 million and net earnings of $14.5 million, or $0.20 per share.

Nucor to Close Nuconsteel

06 January 2012 - Nucor announced plans to exit the business of fabricating light gauge steel framing and close its Nuconsteel division.

Essar Steel Minnesota Announces Mineral Reserves and Resources Estimates

05 January 2012 - Essar Steel Minnesota has received the results of its National Instrument (NI) 43-101 Mineral Resources and Mineral Reserves Report prepared by Met-Chem Canada Inc. in connection with its Minnesota iron ore project.

New Dodge Compact Car Features Advanced Steel Technologies

05 January 2012 - High-strength steel will be used in an industry-leading 68% of the all-new 2013 Dodge Dart's body structure, according to the Steel Market Development Institute.

CMC Enters Amended Credit Agreement, Receivables Purchase Agreement

04 January 2012 - Commercial Metals Co. has entered into amended Credit and Receivables Purchase Agreements.

ALJ Announces Results for Fiscal Year 2011

03 January 2012 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, posted net income of $5.919 million on net sales of $45.89 million for the fourth quarter, and net income of $11.417 million on net sales of $162.01 million for the year ended September 30, 2010.

Preliminary Steel Imports Down 10% in November

29 December 2011 - The U.S. imported a total of 2,107,000 net tons of steel in November, down 10% vs. the October final data according to the latest report from AISI. Finished steel imports were down 13% through the same period.

Evraz NA Signs New Revolving Facility

29 December 2011 - Evraz plc has closed a USD610 million five-year committed revolving credit facility for Evraz NA. Funds will be used to re-finance existing facilities as well as for financing Evraz NA's working capital requirements.

Steel Dynamics Launches Partial Tender Offer for 7 3/8% Senior Notes

28 December 2011 - Steel Dynamics, Inc. has commenced a cash tender offer for up to $350 million of the $700 million outstanding aggregate principal amount of its existing 7 3/8% Senior Notes due 2012.

AK Steel Honors Local Women for Community Contributions

27 December 2011 - The AK Steel Foundation is underwriting the Steel Magnolia Awards in recognition of women who have overcome obstacles to make a positive difference in the lives of others.

EVRAZ to Upgrade Pueblo Rail Operations

23 December 2011 - EVRAZ plans to upgrade its Pueblo, Colo., rail facility to improve product quality and operational efficiency, and expand head hardened rail manufacturing capacity.

AISI Urges Response to Court Decision Limiting Application of CV Duties

23 December 2011 - American Iron and Steel Institute President and CEO Thomas J. Gibson issued a statement regarding a U.S. Court of Appeals for the Federal Circuit ruling this week to strike down the U.S. Commerce Department’s application of countervailing duties against subsidized products, including steel, from China.

SMS Siemag to Supply VOD Facility for Ellwood National Steel

23 December 2011 - Ellwood National Steel has placed an order with SMS Siemag LLC to supply a Vacuum Oxygen Decarburizing facility. The new unit will be the first in the USA to operate with a mechanical vacuum pump rather than a steam ejector system and boiler.

SMS Siemag Commissions 2nd Production Line at Severstal Columbus

22 December 2011 - SMS Siemag has commissioned a second production line with an electric steel plant, second CSP® casting strand, and a push-pull pickling line at Severstal Columbus.