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North America

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

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Stainless, Specialty Imports Down More than 45% through Year-End 2009

30 March 2010 - Total stainless imports reached 390,831 tons through December 2009, a 46.4% decrease compared to YTD December 2008 according to the latest report from SSINA. Total specialty imports reached 390,831 tons through the same period, a 47.8% decrease compared to YTD December 2008.

Allegheny Technologies to Record Q1 Charge Due to New Healthcare Law

30 March 2010 - Allegheny Technologies expects to record a non-cash tax charge of approximately $5 million in the first quarter 2010 as a result of the recently-enacted Patient Protection and Affordable Care Act.

Timken Named to List of Most Ethical Companies

29 March 2010 - The Timken Co. has been recognized as one of the World's Most Ethical Companies for 2010 by the Ethisphere Institute, an international organization focused on the advancement of best practices in business ethics, corporate responsibility, and sustainability.

AK Steel Coke Plant Recognized for Safety Performance

29 March 2010 - AK Steel's Ashland, Ky., coke plant has received the Max Eward Safety Award from the American Coke and Coal Chemicals Institute. Employees at the plant worked the entire year of 2009 without a single OSHA-recordable injury.

CMC Reports Second Quarter Loss

25 March 2010 - Commercial Metals Co. reported a net loss of $173.3 million on net sales of $1.32 billion for the second quarter and a net loss of $204.5 million on net sales of $2.72 billion for the six months ended February 28, 2010.

Canadian Tribunal Delivers Mixed Findings on OCTG from China

24 March 2010 - The Canadian International Trade Tribunal finds that dumped and subsidized coupling stock OCTG from China had not caused or threatened to the domestic industry, but that dumped and subsidized casing and tubing OCTG from China had.

New Healthcare Law Prompts Non-Cash Q1 Charge for AK Steel

24 March 2010 - AK Steel will record a non-cash charge of approximately $31 million in the first quarter of 2010 as the result of the recently-enacted Patient Protection and Affordable Care Act.

Preliminary Steel Imports Decrease 5% in February

24 March 2010 - The U.S. imported a total of 1,574,000 net tons of steel in February, down 5% vs. January final data according to the latest report from AISI.

Despite Dip, February World Crude Steel Output Well Ahead of Last Year

23 March 2010 - World crude steel production for the 66 countries reporting to the World Steel Association stood at an estimated 107.54 million tonnes in February 2010 — 5.2% lower than the previous month (January 2010) but about 24% higher than February 2009.

U.S. Service Centers Report Year-on-Year Growth in Steel Shipments for February

19 March 2010 - February steel shipments from U.S. metals service centers rose 10.4% above shipments for February 2009 – the first year-over-year since April 2008 - according to the latest Metals Activity Report from the Metals Service Center Institute.

Steel Dynamics Sells $350 Million in Notes

18 March 2010 - Steel Dynamics completes the sale of $350 million aggregate principal amount of its 7 5/8% Senior Notes due 2020.

January Steel Shipments Up 9% from December

17 March 2010 - U.S. steel mills shipped 6,579,808 net tons for the month of January 2010, a 9.0% increase from the previous month according to the latest report form AISI.

United States Steel Announces Pricing on Senior Notes Offering

17 March 2010 - United States Steel Corp. announced the pricing of its public offering of $600 million aggregate principal amount of 7.375% Senior Notes due 2020. The notes were priced at 99.125% of the principal amount.

Nucor Announces Guidance for First-Quarter Earnings

17 March 2010 - Nucor Corp. announced guidance for its first quarter ending April 3, 2010. The company expects first-quarter results to be in the range of ($0.05) to $0.05 per diluted share, compared to a loss of $0.60 per diluted share in the first quarter of 2009 and earnings of $0.18 per diluted share in the fourth quarter of 2009.

Patriot Sells Metallurgical Coal to Asian Destinations

16 March 2010 - Patriot Coal reaches agreement to sell approximately 1.5 million tons of metallurgical coal to steel mills in the Pacific Rim, with delivery beginning in April 2010 through early 2011.

PTC Alliance Obtains Court Authority to Proceed with Sale Auction

16 March 2010 - PTC Alliance has obtained court approval to conduct an auction for the sale of substantially all of the company's assets in the U.S. and the stock of its non-debtor German subsidiary, Wiederholt GmbH.

Tenova Core Consteel® Startup at CMC Mesa

15 March 2010 - Commercial Metals Co. (CMC) has recently completed the successful startup of a new Consteel system designed and supplied by Tenova Core. The new CMC micro-mill plant located in Mesa, Ariz., is producing reinforcing bar.

CMC Anticipates Second Quarter Loss

15 March 2010 - Commercial Metals Co. is estimating it will record a net loss between $170 and $180 million ($1.50 to $1.60 per share) for the quarter ended February 28, 2010.

Steel Dynamics to Offer $300 Million in Notes

12 March 2010 - Steel Dynamics announces plans to sell approximately $300 million in aggregate principal amount of debt securities in a transaction exempt from the registration requirements of the Securities Act of 1933.

December Steel Shipments Up 11.3% from Previous Month

11 March 2010 - U.S. steel mills shipped 6,035,000 net tons for the month of December 2009, an 11.3% increase from the previous month’s shipments according to the latest report from AISI.

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