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North America

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

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OmniSource Responds to Criminal Charges

26 October 2010 - Steel Dynamics, Inc. announced that its wholly-owned subsidiary, OmniSource Corp., was indicted on multiple criminal charges involving the alleged receipt or attempted receipt of stolen property. The allegations come after a lawsuit filed on October 15 against the Prosecutor seeking the return of $277,000 in cash unlawfully retained after the raid.

ALJ Releases 2010 Annual Revenue Performance

25 October 2010 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, reported revenues of $32.4 million for the fourth quarter and revenue of $112.8 million for the 2010 fiscal year ended September 30, 2010.

Reliance Steel Reports Q3, Nine-Month Results

22 October 2010 - For the 2010 third quarter ended September 30, 2010, Reliance Steel & Aluminum Co. reported net income of $48.7 million, an increase of 17% compared to 2009 third-quarter net income of $41.8 million. Sales were $1.65 billion, a 33% increase from 2009 Q3 sales of $1.24 billion.

World Crude Steel Production Slips 1% in September

22 October 2010 - World crude steel production for the 66 countries reporting to the World Steel Association stood at an estimated 111.75 million tonnes in September 2010 — a 1.0% decrease from the previous month (August 2010) and an 0.9% increase vs. September 2009.

Nucor Reports Results for 2010 Q3, First Nine Months

22 October 2010 - Nucor Corp. announced consolidated net earnings of $23.5 million, or $0.07 per diluted share, for the third quarter of 2010, compared to net earnings of $91.0 million, or $0.29 per diluted share, in the previous quarter and a net loss of $29.5 million, or $0.10 per diluted share, in the third quarter of 2009.

Ryerson to Open El Paso Service Center

21 October 2010 - Ryerson Inc. plans to open a service center in El Paso, Tex., that is expected to begin operations in mid-October. The facility will service the El Paso/Juarez, Mexico, market and will distribute a range of carbon, aluminum, and stainless steel products.

Esmark Steel Group Acquires Assets of Kelco Metals

21 October 2010 - Esmark Steel Group has acquired the assets of Schaumburg, Ill.-based steel distributor Kelco Metals Inc. for more than $9 million. Kelco Metals will add approximately 50,000 tons of steel shipments annually to the company’s total shipments.

Schnitzer Steel Reports Strong Fiscal 2010 Performance

21 October 2010 - Schnitzer Steel Industries, Inc. reported net income of $18.15 million on revenues of $639.1 million for the fourth quarter, and net income of $70.7 million on revenues of $2.3 billion for the full fiscal year 2010, which ended August 21, 2010.

Russel Metals Comments on Potential Strike in British Columbia

21 October 2010 - Russel Metals Inc. is currently in mediation discussions with a B.C. Ministry of Labour mediator and United Steelworkers representatives to help reach agreement on language and issues related to five plants in British Columbia. Under the mediation process, the parties can neither strike nor force a lockout.

Lakeside Steel Increases Production at End-Finishing Facility

20 October 2010 - Lakeside Steel Inc. has increased its tubing end-finishing production, which includes the process of upsetting, threading, and pressure testing tube products manufactured at the Welland facility, to meet demand and improve customer service.

AIST Presents Awards at MS&T’10 Conference

20 October 2010 - AIST presented the Richard J. Fruehan Award, Gilbert R. Speich Award, Jerry Silver Award, and the inaugural Adolf Martens Memorial Steel Lecturer award at the Steel Properties & Applications Conference held in conjunction with the Materials Sciences & Technology 2010 annual conference in Houston, Tex., on Oct. 17-21.

Essar Steel Algoma Appoints New CFO

19 October 2010 - Essar Steel Algoma Inc. announced that Amit Agarwal, Chief Financial Officer, has been assigned new duties at Essar's Corporate Office in India. Rakesh Kapur has been appointed CFO for Essar Steel Algoma, accountable for all financial functions, effective immediately.

Metal Shipment and Inventory Rise Again in September 2010

19 October 2010 - Very little change occurred in North American metals service center shipment and inventory trends in September, according to the latest Metals Activity Report from the Metals Service Center Institute. Sequential steel inventories rose slightly in both the United States and Canada.

August Steel Shipments up 11.5% from July

19 October 2010 - U.S. steel mills shipped 7,224,190 net tons for the month of August 2010, an 11.5% increase from the previous month’s shipments and a 29.7% increase from the 5,570,368 net tons shipped in August 2009, according to the latest report from AISI.

Steel Dynamics Reports 3rd Quarter 2010 Results

19 October 2010 - Steel Dynamics reports net income of $19 million on net sales of $1.6 billion for the third quarter, and net income of $133 million on net sales of $4.8 billion for the first nine months of 2010.

Allegheny Technologies Updates Third Quarter Outlook

18 October 2010 - Allegheny Technologies is forecasting net income of approximately $0.01 per share for the third quarter 2010, including the impact of several one-time charges.

USITC Determines Seamless Pipe from China Threatens U.S. Industry

18 October 2010 - The United States International Trade Commission has determined that a U.S. industry is threatened with material injury by reason of imports of seamless carbon and alloy steel standard, line, and pressure pipe from China that the U.S. Department of Commerce has determined are subsidized and sold in the U.S. at less than fair value. As a result, Commerce will issue antidumping and countervailing duty orders on imports of these products from China.

Tata Group to Fund Executive Education Building at Harvard

15 October 2010 - Harvard Business School has received a gift of $50 million from Tata Companies, the Sir Dorabji Tata Trust, and the Tata Education and Development Trust—philanthropic entities of Tata Group. The gift will fund a new academic and residential building on campus for participants in the school's Executive Education programs.

EPA Finishes Slag Cleanup at Kokomo Site

15 October 2010 - U.S. Environmental Protection Agency Region 5 has completed the cleanup of the former slag processing area of the Continental Steel Superfund site in Kokomo, Ind., two years ahead of schedule due to American Recovery and Reinvestment Act funding. The cleanup effort was managed in consultation with Indiana Department of Environmental Management.

Severstal Sparrows Point Reduces Locomotive Emissions

15 October 2010 - Severstal Sparrows Point has completed a clean diesel project that will improve air quality by reducing idling emissions and by helping to increase the energy efficiency of the Sparrows Point switch locomotives.

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