Steel News

worldsteel Releases Short Range Outlook

01 May 2012 - The World Steel Association (worldsteel) released its April 2012 Short Range Outlook (SRO) for 2012 and 2013, forecasting that global apparent steel use will increase by 3.6% to 1,422 million tonnes in 2012, following growth of 5.6% in 2011. In 2013, world steel demand is forecast to grow an additional 4.5% to around 1,486 million tonnes.

ArcelorMittal May Further Increase Production at ArcelorMittal Mines Canada

30 April 2012 - Results of a scoping study have allowed ArcelorMittal has identify the potential to increase annual production of iron-ore concentrate to 30 million tonnes per annum at its ArcelorMittal Mines Canada using the facility’s existing infrastructure system.

Canadian Tribunal Initiates Expiry Review for HR Carbon Plate from China

30 April 2012 - The Canadian International Trade Tribunal has initiated an expiry review of its orders made on January 9, 2008, concerning the dumping of hot-rolled carbon steel plate from China.

Worthington Announces Succession Plan for President & COO Steel

30 April 2012 - Worthington Industries, Inc. announced that Mark A. Russell will become the next President and Chief Operating Officer of the company, effective Aug. 1, 2012, replacing George P. Stoe. Geoff G. Gilmore will replace Russell becoming the next president of Worthington Steel also on Aug. 1.

Siemens Acquires FCE Furnace Company

27 April 2012 - Siemens Industry, Inc. has signed and closed a purchase agreement to acquire 100% of the shares of FCE, LLC, a furnace company headquartered in Huntingdon Valley, Pa., that will now operate within the Metals Technologies business unit of the Siemens Industry Sector.

Timken Posts Record First Quarter, Raises Full-Year Outlook

27 April 2012 - The Timken Co. reported record sales of $1.4 billion in the first quarter of 2012, an increase of 13% over the same period a year ago. The company also generated record income of $155.7 million, or $1.58 per diluted share, compared with $112.7 million, or $1.13 per diluted share, a year ago.

Preliminary Steel Imports Up 7% in March

26 April 2012 - The U.S. imported a total of 2,899,000 net tons of steel in March, up 7% from February final data according to the latest report AISI. Finished steel imports were up 4% through the same period.

AK Steel Reports Financial Results for First Quarter of 2012

26 April 2012 - AK Steel reported a net loss of $11.8 million on net sales of $1,508.7 million for the first quarter of 2012.

Grand Blanc Processing Contracts Tenova Core for STC® Furnace

26 April 2012 - Tenova Core has recently been contracted to provide the turnkey supply of a STC® (Short Time Cycle) furnace at Grand Blanc’s wire processing facility located in Holly, Mich.

United States Steel Reports 2012 First Quarter Results

25 April 2012 - United States Steel Corp. reported a net loss of $219 million on net sales of $5.172 billion for the first quarter of 2012.

AK Steel's Coshocton Works Recognized for Outstanding Safety Performance

25 April 2012 - The Ohio Bureau of Workers' Compensation, Division of Safety and Hygiene has recognized AK Steel's Coshocton Works for operating 2,952,729 hours without a lost-time injury between February 20, 2008 and August 5, 2011.

Timken Breaks Ground on Faircrest Expansion

24 April 2012 - The Timken Co. celebrated the start of work on a $225 million expansion of its Faircrest Steel Plant that will feature the addition of a new ladle refiner and large-bloom continuous caster.

SMS Concast to Supply Vertical Bloom Caster for Timken Faircrest

23 April 2012 - SMS Concast AG has been awarded jointly with SMS Concast America Inc. of Pittsburgh, Pa., a major contract from The Timken Co. to supply a three(four)-strand UHQ vertical bloom casting facility for Timken’s Faircrest steel plant in Canton, Ohio.

World Steel Association Reports March 2012 Crude Steel Production

23 April 2012 - Crude steel production for the 62 countries reporting to the World Steel Association was 132 million tonnes (Mt) in March 2012, an increase of 1.8% compared to March 2011. Production for the first quarter of 2012 was 377 Mt, 1.1% higher than the first quarter of 2011.

Metals USA Reports First Quarter 2012 Results

20 April 2012 - Metals USA Holdings Corp. reported net sales for the first quarter of 2012, ended March 31, of $525.3 million, up 22% from net sales of $432.3 million recorded for the first quarter of 2011. Net income was $16.3 million, compared to first quarter 2011 net income of $12.4 million.

Praxair to Supply Industrial Gases for New Deacero Plant at Coahuila

20 April 2012 - Praxair Mexico has signed a new contract with Mexican steel company Deacero to supply oxygen, argon, and nitrogen to a new plant being built in Ramos Arizpe, Coahuila, in north Mexico.

Steel Dynamics Reports First Quarter 2012 Results

20 April 2012 - Steel Dynamics, Inc. announced first quarter net income of $46 million, or $0.20 per diluted share, on net sales of $2.0 billion. By comparison, prior-year first quarter net income was $106 million, or $0.46 per diluted share, and sequential fourth quarter 2011 net income was $30 million, or $0.14 per diluted share.

Nucor Reports First Quarter 2012 Results

20 April 2012 - Nucor Corp. announced consolidated net earnings of $145.1 million, or $0.46 per diluted share, for the first quarter of 2012, compared to net earnings of $159.8 million, or $0.50 per diluted share, for the first quarter of 2011 and net earnings of $137.1 million, or $0.43 per diluted share, in the fourth quarter of 2011.

Ryerson to Open New Illinois Service Center

19 April 2012 - Ryerson Inc. announced that it will open a new bar processing depot and full line service center in DeKalb, Ill. The 150,000-square-foot facility is expected to begin operations in June 2012.

SSINA Releases Market Data for January 2012

19 April 2012 - Imports of total stainless steel in YTD January 2012 were 70,107 tons, a 4.7% increase compared to a year ago, according to recently released statistical data from the Specialty Steel Industry of North America (SSINA).