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North America

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

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Sumitomo Metals to Acquire Standard Steel

28 June 2011 - Sumitomo Metal Industries, Ltd. and Sumitomo Corp. have agreed to acquire Steel Wheel Acquisition Corp., the parent company of Standard Steel, Inc. in the United States, for approximately US$340 million.

USITC to Continue Cases on High Pressure Steel Cylinders from China

27 June 2011 - The USITC has found reasonable indication that a U.S. industry is materially injured due to imports of high pressure steel cylinders from China that are allegedly sold in the United States at less than fair value and subsidized by the government of China.

Severstal North America Honored for Steel Excellence

27 June 2011 - Severstal North America was named this year’s winner for Best Brownfield Technology in American Metal Market's 2011 Awards for Steel Excellence for the company’s efforts to remediate a steelworks site in Dearborn.

Agencies Deny Cliffs’ Remediation Plan for Pinnacle Mine

27 June 2011 - Regulatory agencies have denied a remediation plan submitted by Cliffs Natural Resources Inc. to address detected levels of carbon monoxide at the company's Pinnacle Mine in West Virginia.

Schnitzer Honored as Scrap Company of the Year

24 June 2011 - Schnitzer Steel Industries was named ‘Scrap Company of the Year’ this week during American Metal Market's 2nd Annual Awards for Steel Excellence.

AISI Supports Legislation Strengthening OSHA’s Voluntary Protection Program

24 June 2011 - The American Iron and Steel Institute released letters endorsing the Voluntary Protection Program Act, recently introduced in the Senate (S. 807) and in the House (H.R 1511).

AK Steel Recognized for Operational Improvements at Butler, Zanesville

23 June 2011 - AK Steel has received an award from American Metal Market for ‘Best Operational Improvements’.

Severstal NA Appoints Vice President, Strategy and Business Development

22 June 2011 - Severstal North America announced this week the appointment of Saikat Dey as Vice President, Strategy and Business Development.

Preliminary Steel Imports Increase 6% in May

22 June 2011 - The U.S. imported a total of 2,692,000 net tons of steel in May, up 6% from April final data, according to the latest report from AISI.

Commercial Metals Reports 3rd Quarter Results

22 June 2011 - Commercial Metals Co. reported net income of $36.2 million, or $0.31 per diluted share, on net sales of $2.1 billion for the quarter ended May 31, 2011. This compares with a net loss of $8.8 million, or $0.08 per diluted share, on net sales of $1.8 billion for last year's Q3.

Carpenter Technology to Acquire Latrobe

21 June 2011 - Carpenter Technology Corp. and Latrobe Specialty Metals, Inc. have entered into a definitive merger agreement whereby Carpenter will acquire Latrobe in a transaction valued at approximately $558 million. Closing is expected to occur during the first quarter of FY2012, which ends September 30, 2011.

World Crude Steel Production up Again in May 2011

21 June 2011 - World crude steel production for the 64 countries reporting to the World Steel Association stood at an estimated 129.9 million tonnes for May 2011, 2.3% higher than the previous month (April 2011) and 4.2% higher in comparison with May 2010.

Olympic Steel Installs Wind Turbine

20 June 2011 - Olympic Steel has installed a 100kw wind turbine to supplement electricity to the company's corporate office and attached temper mill facility in Bedford Heights, Ohio.

Metal Service Center Shipment Levels Strengthen in May

20 June 2011 - U.S. and Canadian metals service center shipments of steel and aluminum products returned to more robust growth rates during May, according to the latest Metals Activity Report from MSCI.

Nucor Names Grand Prize Winner of Strength of Steel Challenge

20 June 2011 - Nucor Corp. recently concluded its Strength of Steel Challenge with an awards ceremony in Charlotte, N.C., where eight semifinalist teams were flown to present their inventions to Nucor executives. Entrants created a structure out of recycled steel that could be used to support another object in the home, school, or vehicle.

AIST Presents Crane Innovation Award to John Austin of Gerdau Petersburg

17 June 2011 - AIST and its Material Movement and Transportation Technology Division presented the 2011 Crane Innovation of the Year Award to John U. Austin, Mobile Maintenance Manager, Gerdau Petersburg.

Stainless Imports up More than 50% Through YTD March 2011

17 June 2011 - Total stainless imports reached 198,619 ton through YTD March 2011, a 50.6% increase compared to YTD March 2010 according to the latest report from SSINA. Total specialty imports reached in 255,551 tons over the same period, a 53.9% increase compared to YTD March 2010.

April Steel Shipments down 9.3% from March

17 June 2011 - U.S. steel mills shipped 7,258,534 net tons for the month of April 2011, a 9.3% decrease from the 8,006,016 net tons shipped in the previous month according to the latest report from the AISI.

Steel Dynamics Provides Second Quarter Earnings Guidance

17 June 2011 - Steel Dynamics, Inc. expects second quarter earnings to be in the range of $0.35 to $0.40 per diluted share, lower than the first quarter 2011 reported results of $0.46, but higher than earnings of $0.22 per diluted share achieved in Q2 2010.

Nucor Provides Guidance for Second Quarter Earnings

16 June 2011 - Nucor announced guidance for its second quarter ending July 2, including the expectation of results in the range of $0.75 to $0.80 per diluted share.

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