Steel News

Steel Dynamics Announces Completion of Notes Offering

15 October 2007 - Steel Dynamics consummates an unsecured note offering, proceeds of which would be used to support the company's planned acquisition of OmniSource.

AISI Commends ITC Decision on Hot-Rolled Steel Duties

12 October 2007 - The American Iron and Steel Institute issues a statement commending the U.S. International Trade Commission for its decision in the 5-year sunset review of antidumping and countervailing duty orders covering imports of hot-rolled sheet.

Allegheny Technologies Updates Earnings Outlook

12 October 2007 - Allegheny Technologies expects to report full-year 2007 earnings per share in the range of $7.00 to $7.25 per diluted share, reflecting lower-than-expected second-half 2007 earnings.

IISI Reveals Short-Range World Steel Outlook for 2007, 2008

12 October 2007 - The International Iron and Steel Institute releases world steel production forecasts for 2007 and 2008 during its recent 41st Annual Conference of IISI Members in Berlin.

ITC to Uphold Most Duties on Hot Rolled Steel Imports

11 October 2007 - The ITC will uphold existing duty orders on hot-rolled steel products imported from China, India, Indonesia, Taiwan, Thailand, and Ukraine, but will revoke duty orders for the same products imported from Argentina, Kazakhstan, Romania, and South Africa.

Gerdau Ameristeel Revises Financial Information Related to Subsidiary Guarantors

10 October 2007 - Gerdau Ameristeel announces revision of the footnote presentation of historical financial information related to its subsidiary guarantors.

PTC Alliance Operations Continue Despite Nine-Day Strike

10 October 2007 - Manufacturing operations have continued without interruption at PTC Alliance’s Alliance, Ohio, plant since the start of the United Steelworkers strike ten days ago.

AISI Releases Expanded Report on U.S. Indirect Steel Trade

10 October 2007 - The American Iron and Steel Institute has updated its analysis of U.S. indirect steel trade, a report that identifies the volume and value of steel imported and exported between the United States and 11 major countries and four regions.

Republic Introduces New Advertising Campaign

09 October 2007 - Republic Engineered Products introduces a new advertising campaign focused on the company’s heritage in high-quality steel bar and coil products.

AK Steel Reaches VEBA Settlement with Middletown Retirees

09 October 2007 - AK Steel reaches agreement with a group of Middletown Works retirees to settle a lawsuit stemming from the company's initiatives in 2006 to reduce its retiree health care costs.

Olympic Steel Announces Scholarship Recipients

05 October 2007 - Olympic Steel announces seventeen recipients of its corporate scholarship program – nine new awardees, and eight renewals.

Claymont Steel Lowers Third-Quarter Earnings Expectations

05 October 2007 - An unexpectedly difficult reheat furnace restart and a resultant drop in output are prompting Claymont Steel to lower its third-quarter earnings expectations down to the range of $0.05 to $0.10 per share.

Steel Dynamics Announces Offering of Notes

05 October 2007 - Steel Dynamics plans to sell approximately $500 million in aggregate principal amount of debt securities in a transaction exempt from the registration requirements of the Securities Act of 1933.

Steel Import Permit Applications Decline 10% in September

05 October 2007 - Although steel import permit applications for the month of September 2007 reflect a 10% decrease from previous month, year-to-date totals are still 10% higher than for the same period in 2005.

AK Steel Announces November Electrical Steel Surcharges

04 October 2007 - AK Steel will add a $240 per ton surcharge to invoices for electrical steel products shipped in November 2007.

Ryerson Announces Convertibility of Senior Notes

04 October 2007 - Ryerson's 3.50% Convertible Senior Notes due 2024 will be convertible beginning October 4, 2007 through November 21, 2007, the date on which Ryerson's fundamental change repurchase offer is expected to expire.

Keystone Announces Subscription Rights Offering

04 October 2007 - Keystone Consolidated Industries has filed a preliminary registration statement that would allow Keystone's common stockholders to purchase an aggregate of 2,500,000 shares of Keystone's common stock for a purchase price of $10.00 per share.

Court Issues Order for Novamerican Steel Arrangement with Symmetry

04 October 2007 - The Superior Court of Quebec issued interim order providing for Novamerican Steel to hold a special shareholders meeting to consider the announced arrangement with Symmetry.

FeMET Initiative Issues Curriculum Development Program Grants

04 October 2007 - The FeMET Initiative has awarded curriculum development grants to seven university professors to fund proposals designed to enhance or update industry curriculum in ferrous metallurgy programs.

PTC Alliance to Meet with Federal Mediator and Union

04 October 2007 - Welded and cold drawn mechanical steel tubing manufacturer PTC Alliance agrees to a request that it meet with the federal mediator and the United Steelworkers to discuss the strike of roughly 200 workers at its Alliance, Ohio, plant.