Steel News

Timken, USW Local 1123 Reach New Tentative Agreement

09 February 2012 - The Timken Company and the United Steelworkers (USW) Local 1123 have reached a new tentative agreement on a five-year contract, subject to a member ratification vote within the next two weeks.

Cliffs to Dissolve Michigan Iron Nuggets Joint Venture with Kobe Steel

08 February 2012 - Cliffs Natural Resources Inc. has announced plans to dissolve its Michigan Iron Nuggets Joint Venture with Kobe Steel.

NLMK USA Sets New Records in Production and Quality

07 February 2012 - NLMK’s plant at NLMK Indiana has ended 2011 setting 10 new production records, including the production of a new annual tonnage record for the meltshop of 672,756 cast tons with an average tap-to-tap time of 71.31 minutes. Capacities were running at over 90%.

AK Steel Reacts to DOE’s Proposed Transformer Efficiency Standards

06 February 2012 - AK Steel says it does not expect the revised energy efficiency standards just proposed by the U.S. Department of Energy to significantly impact the overall competitiveness of the company's grain-oriented electrical steels.

AK Steel Reports 4th Quarter, Full-Year 2011 Results

03 February 2012 - AK Steel reported a net loss of $193.9 million on net sales of $1,509.2 million for the fourth quarter, and a net loss of $155.6 million on net sales of $6,468.0 million for the full year of 2011.

Total Steel Import Permit Tons up 21% in January

03 February 2012 - Total steel import permit applications reached 2,691,000 net tons for the month of January 2012, a 21% increase from the 2,230,000 permit tons recorded in December according to the most recent report from AISI.

Reliance Steel & Aluminum Acquires McKey Perforating Company

02 February 2012 - Reliance Steel & Aluminum announced completion of the acquisition of McKey Perforating Co., Inc. and its subsidiary McKey Perforated Products Co.

November Steel Shipments Down 6.7% from October

01 February 2012 - U.S. steel mills shipped 7,404,828 net tons for the month of November 2011, a 6.7% decrease from the 7,933,653 net tons shipped in the previous month according to the latest report from AISI.

U. S. Steel Reports 4th Quarter and Full-Year Results

01 February 2012 - United States Steel reported a net loss of $226 million on net sales of $4.664 billion for the fourth quarter, and a net loss of $68 million on net sales of $19.636 billion for the full year 2011.

American Steel Industry Supports WTO Decision on Chinese Export Policies

31 January 2012 - The American Iron and Steel Institute, the Steel Manufacturers Association, the Specialty Steel Industry of North America, the Committee on Pipe and Tube Imports, and the United Steelworkers support the favorable decision by the Appellate Body of the World Trade Organization, which held that China’s restraints on exports of various raw materials violated its WTO obligations.

Lakeside Steel Announces Management Changes

31 January 2012 - Lakeside Steel Inc. announced that Vic Alboini is no longer the Chairman and CEO of the company. The company has appointed Norman Findlay as Interim Chairman of the Board.

United States Steel to Sell U. S. Steel Serbia

31 January 2012 - United States Steel Corp. announced plans to sell its U. S. Steel Serbia d.o.o. unit to the Republic of Serbia for a nominal purchase price.

Metals USA reports 4th Quarter, Fiscal 2011 Results

31 January 2012 - Metals USA Holdings reported net income of $14.0 million on net sales of $455.7 million for the fourth quarter and net income of $64.6 million on net sales of $1.9 billion for the year ended December 31, 2011.

Universal Stainless Reports 4th Quarter 2011 Results

30 January 2012 - Universal Stainless & Alloy Products, Inc. reported net income of $4.3 million on sales of $62.2 million for the fourth quarter, and net income of $18.1 million on record sales of $252.6 million for the full year of 2011.

Nucor CEO Wins AISC Robert P. Stupp Award

30 January 2012 - Nucor Corp. Chairman and Chief Executive Officer, Daniel R. DiMicco, was announced as the recipient of the Robert P. Stupp Award for Leadership Excellence by the American Institute of Steel Construction. He will be honored at AISC's 2012 North American Steel Construction Conference in April.

Carpenter Technology Reports Second Quarter Results

30 January 2012 - Carpenter Technology reported net income attributable to Carpenter of $23.6 million ($0.52 per share) for the quarter ended December 31, 2011.

Allegheny Technologies Reports 4th Quarter, Full Year 2011 Results

27 January 2012 - Allegheny Technologies Inc. reported net income for the fourth quarter 2011 of $31.7 million, or $0.29 per share, on sales of $1.25 billion. For the full year 2011, net income was $214.3 million, or $1.97 per share, on sales of $5.18 billion.

Nucor Reports Results for 4th Quarter, Year Ended 2011

27 January 2012 - Nucor Corp. reported consolidated net earnings of $137.1 million on consolidated net sales of $4.83 billion for the fourth quarter, and consolidated net earnings of $778.2 million on consolidated net sales of $20.02 billion for the full year 2010.

Lakeside Steel, JMC Steel Group Execute Arrangement Agreement

26 January 2012 - Lakeside Steel Inc. and JMC Steel Group, Inc. have entered into a definitive agreement pursuant to which JMC Steel Group, Inc., through a wholly owned subsidiary, has agreed to acquire all of the issued and outstanding common shares of Lakeside at a price of $0.2983 per share in cash.

Nucor to Expand Special Bar Quality Production

26 January 2012 - Nucor Corp. has announced plans for the continued expansion of its special bar quality (SBQ) production capabilities by a combined one million tons over the next two years. 