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North America

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

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Commercial Metals to Exit Joist and Deck Business

01 March 2010 - Commercial Metals Co. recently announced its decision to exit the joist and deck business by way of sale and/or closure of those facilities. The company also has amended its agreement regarding its $400 million revolver and its $100 million accounts receivable (A/R) securitization agreement.

EPA Accepting Comments on ArcelorMittal Requests for Hazardous Waste Injection

26 February 2010 - U.S. EPA Region 5 is accepting public comments until April 7 on ArcelorMittal's requests to continue injecting hazardous waste deep underground at its Burns Harbor facility in Indiana. ArcelorMittal has three existing underground injection wells and plans to construct a fourth.

Gerdau Ameristeel Reports 2009 4th Quarter, Year-End Results

26 February 2010 - Gerdau Ameristeel reported a net loss of $46.1 million on net sales of $1.0 billion for the fourth quarter and a net loss of $161.7 million on net sales of $4.2 billion for the year ended December 31, 2009.

Commerce Preliminarily Finds Subsidization of Seamless Pipe from China

25 February 2010 - The U.S. Department of Commerce has announced its affirmative preliminary determination in the countervailing duty investigation on imports of seamless carbon and alloy steel standard, line, and pressure pipe from P.R. China.

YTD Stainless, Specialty Imports Down 50% through November 2009

25 February 2010 - Total stainless imports reached 348,431 tons through November 2009, a 49.9% decrease compared to YTD November 2008 according to the latest report from the SSINA. Total specialty imports reached 442,265 tons through the same period, a 50.6% decrease compared to YTD November 2008.

Preliminary Steel Imports Increase 16% in January

24 February 2010 - The U.S. imported a total of 1,634,000 net tons of steel in January, up 16% vs. December final data according to the latest report from AISI.

AISI Commends Letter by Senators to EPA

24 February 2010 - The American Iron and Steel Institute has expressed its support for a letter signed by eight U.S. Senators to EPA Administrator Lisa P. Jackson raising “serious economic and energy security concerns” regarding the potential regulation of greenhouse gases from stationary sources under the Clean Air Act.

Universal Stainless to Elect New Chairman of the Board

24 February 2010 - Universal Stainless & Alloy Products’ Board of Directors intends to elect Dennis M. Oates, the company's President and CEO, to the additional position of Chairman, in anticipation of the impending retirement from the Board of its current Chairman, Clarence M. ("Mac") McAninch.

AISI Names Senior Director of Collaborative R&D

24 February 2010 - The American Iron and Steel Institute has appointed Joseph R. Vehec as Senior Director of Collaborative Research and Development. Currently AISI Director of the Technology Roadmap Program, Vehec will assume his new responsibilities on March 1.

World Crude Steel Output Climbs Another 2.1% in January 2010

23 February 2010 - World crude steel production for the 66 countries reporting to the World Steel Association stood at an estimated 109.24 million tonnes in January 2010 — 2.1% higher than the previous month (December 2009) but about 26% higher than January 2009.

Steel Dynamics to Begin Shipping Standard Rail to Major Railroads

23 February 2010 - Steel Dynamics, Inc. has begun commercial production of Standard Strength rails that meet all current AREMA specifications at its Structural & Rail Division at Columbia City, Ind. Shipments are expected to begin in the second quarter.

Russel Metals Reports 2009 Annual, Fourth-Quarter Results

23 February 2010 - Russel Metals Inc. reported a fourth-quarter loss of $25 million ($0.42 per share), which includes a pre-tax net inventory write-down of $5 million and an asset impairment charge of $35 million. For the year, the company reported a loss of $92 million ($1.54 per share).

USITC Votes to Continue Cases on Drill Pipe, Collars from China

22 February 2010 - The United States International Trade Commission recently determined that there is a reasonable indication that a U.S. industry is threatened with material injury due to imports of drill pipe and drill collars from China that are allegedly subsidized and sold at less than fair value.

Severstal Columbus Closes Senior Secured Note Offering

22 February 2010 - Severstal Columbus LLC, a subsidiary of OAO Severstal, has issued a US$525 million aggregate principal amount of eight-year callable senior secured notes at an original issue discount of 2% and an annual coupon rate of 10.25%.

Cliffs Reports Fourth-Quarter, Full-Year Results

19 February 2010 - Cliffs Natural Resources Inc. reported full-year revenues of $2.34 billion for the period ended Dec. 31, 2009, a decrease of 35% from the previous year. Consolidated fourth-quarter revenues were $820.5 million, a decrease of 10% compared to the same quarter last year.

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