Steel News

Carpenter Technology Reports 4th Quarter, Full Year Results

31 July 2009 - Carpenter Technology reports a $20.8 million loss from continuing operations on net sales of $256.9 million for the fiscal fourth quarter and $47.9 million net income on net sales of $1.362 billion for the full fiscal year ended June 30, 2009.

Olympic Steel Reports 2nd Quarter 2009 Results

31 July 2009 - Olympic Steel reports a net loss of $33.8 million on net sales of $122.4 million for the second quarter and a net loss of $59.3 million on net sales of $263.3 million for the six months ended June 30, 2009.

AK Steel to Increase Prices for Carbon Steel Products

31 July 2009 - AK Steel says it will increase spot market prices for carbon steel products effective with all new orders for September and October shipment.

Canadian Agency to Terminate Duties on Stainless Wire from Korea, Switzerland, U.S. and India

31 July 2009 - The Canadian International Trade Tribunal announces the termination of antidumping duties on stainless steel wire from Korea, Switzerland and the United States and countervailing duties on stainless steel wire from India.

Timken Reports 2nd Quarter Results

31 July 2009 - Timken reports a loss of $64.5 million on sales of $828.9 million for the second quarter, and a net loss of $63.6 million on sales of $1.79 billion for the first six months of 2009.

Northwest Pipe Reports 2nd Quarter 2009 Results

30 July 2009 - Northwest Pipe reports net income of $2.4 million on sales of $74.9 million for the second quarter ended June 30, 2009.

Universal Stainless Reports 2nd Quarter 2009 Results

30 July 2009 - Universal Stainless & Alloy Products reports a net loss of $400,000 on sales of $30.8 million for the second quarter, and a net loss of $4.2 million on sales of $72.9 million for the first six months of 2009.

Timken to Sell Needle Roller Bearings Business to JTEKT

30 July 2009 - Timken signs agreement to sell the assets of its Needle Roller Bearings business, which serves primarily the automotive OE sector, to Japan’s JTEKT Corp. in a cash transaction.

Steel Imports Down 18% in June

30 July 2009 - The U.S. imported a total of 849,000 net tons of steel in June 2009, an 18% decrease vs. May final data, according to the latest report from AISI.

Domestic Steel Groups Release Study on the Effects of China’s Economic Policies

29 July 2009 - The American Iron and Steel Institute and the Steel Manufacturers Association release a study describing the negative impact of China’s economic policies on the U.S. and world economies.

U.S. Steel Reports Second Quarter Results

29 July 2009 - United States Steel reports a net loss of $392 million on net sales of $2.1 billion for the second quarter, and a net loss of $831 million on net sales of $4.88 billion for the first six months of 2009.

Northwest Pipe to Supply Pipe for Cooperative Water Supply Project

27 July 2009 - Northwest Pipe will supply pipe for the Raw Water Pipeline project, owned by Brushy Creek Regional Utility Authority.

Tube City IMS Chairman & CEO to Retire

27 July 2009 - Tube City IMS, LLC announces the retirement of Chairman and CEO I Michael Coslov after more than 48 years with the company.

Reliance Steel & Aluminum Reports 2nd Quarter, Six Months Results

24 July 2009 - Reliance Steel & Aluminum reports a net loss of $5.8 million on sales of $1.2 billion for the second quarter, and net income of $14.3 million on sales of $2.8 billion for the six months ended June 30, 2009.

Severstal Names New CEO for Severstal International, Severstal NA

24 July 2009 - OAO Severstal announces the appointment of Sergei Kuznetsov as CEO of Severstal International and Severstal North America, replacing Gregory Mason, who will be leaving the company.

Nucor Reports 2nd Quarter, First Half Results

24 July 2009 - Nucor reports a consolidated net loss of $133.3 million on consolidated net sales of $2.48 billion for the second quarter, and a consolidated net loss of $323.0 million on consolidated net sales of $5.13 billion for the first six months of 2009.

ALJ Announces Modifications to KES Senior and Subordinated Debt Terms

23 July 2009 - ALJ Regional Holdings operating subsidiary KES Acquisition amends terms of its senior credit facility and the junior indebtedness evidenced by its 8% subordinated secured notes.

Allegheny Technologies Reports 2nd Quarter Results

23 July 2009 - Allegheny Technologies reports a net loss of $13.4 million (including special charges) on sales of $710.0 million for the second quarter and a net loss of $7.5 million (including special charges) on sales of $1.54 billion for the first six months of 2009.

Steel Dynamics Reports 2nd Quarter 2009 Results

23 July 2009 - Steel Dynamics reports a net loss of $16 million on net sales of $792 million for the second quarter, and a net loss of $104 million on net sales of $1.61 billion for the first six months of 2009.

AK Steel to Make Pension Trust Fund Contribution

22 July 2009 - AK Steel’s board of directors has authorized the company to make a $110-million contribution to its pension trust fund, double the company's $55 million required funding for the balance of 2009.