Steel News

Cleveland-Cliffs Completes Pinnacle Mine Longwall Move

25 October 2007 - Cleveland-Cliffs resumes normal production at Pinnacle Mine after completing the move of its longwall plow system because of sandstone intrusions in the coal panel.

Ryerson Launches Comprehensive Reorganization

25 October 2007 - Newly acquired Ryerson takes initial steps in a comprehensive reorganization, beginning with several key appointments to the company's senior leadership team.

Claymont Steel Announces Interim CFO, Resignation

25 October 2007 - Claymont Steel Holdings announced the appointment of Allen Egner as interim Chief Financial Officer, following the resignation of former CFO, David Clark.

Universal Stainless Reports 3rd Quarter Results

25 October 2007 - Universal Stainless & Alloy Products reports net income of $5.5 million on sales of $62.0 million for the third quarter, and net income of $18.1 million on sales of $180.3 million for the first nine months of 2007.

Stelco Reports 3rd Quarter Results, Status of Acquisition

25 October 2007 - Stelco reports net income of $38 million on sales of $634 million for the quarter, and a net loss of $42 million on sales of $1.96 billion for the nine months ended September 30, 2007.

Allegheny Technologies Reports 3rd Quarter Earnings

25 October 2007 - Allegheny Technologies reports net income of $193.9 million on sales of $1.33 billion for the third quarter, and net income of $598.2 million on sales of $4.18 billion for the first nine months of 2007.

Wheeling-Pittsburgh and Esmark Amend Merger Agreement

24 October 2007 - Wheeling-Pittsburgh and Esmark enter into an amendment to their definitive merger agreement to adjust the timing of the put and purchase rights that will be granted to Wheeling-Pittsburgh stockholders in connection with the combination.

Year-To-Date Steel Imports Still Buoyant

24 October 2007 - The U.S. imported a total of 2,196,000 net tons of steel in September 2007, a 17% decrease compared to final August data.

AK Steel Reports 3rd Quarter Results

24 October 2007 - AK Steel reports net income of $108.4 million on net sales of $1,721.7 million for the third quarter, and net income of $281.0 million on record net sales of $5,311.1 million for the first nine months of 2007.

SMA Names New Leadership for Board of Directors

23 October 2007 - The SMA Board of Directors announces Gerdau Ameristeel President and CEO Mario Longhi as the new Chairman for 2008-2009, replacing Gallatin Steel President Don Daily, who served as SMA’s Chairman for the past two years.

AK Steel to Upgrade Specialty Steel Operations

23 October 2007 - AK Steel is planning capital investments including a new electric arc furnace, new ladle metallurgy furnace, and additional electrical steel finishing equipment at its specialty steel operations in Butler and Zanesville.

Reliance Names Chairman of the Board and CEO

22 October 2007 - Reliance Steel & Aluminum announces that David H. Hannah, currently Chief Executive Officer, has been elected to the additional role of Chairman of the Board, effective October 17, 2007.

Universal Stainless Announces New Addition to Board

22 October 2007 - Universal Stainless & Alloy Products announces that Dennis M. Oates has joined the company's Board of Directors, filling the independent Board seat left vacant by the retirement of George Keane in May.

Timken to Increase SBQ Product Prices

22 October 2007 - Timken plans to increase base prices on hot-rolled, cold-finished, and single-thermal-treated special bar quality products by $30 per ton.

Gerdau Ameristeel Announces Selected 3rd Quarter Results

22 October 2007 - Gerdau Ameristeel reports selected preliminary comparative financial and operating data for the third quarter and nine months ended September 30, 2007 and 2006, including results for Chaparral from the date of its acquisition on September 14, 2007.

Cargill and Robinson Steel Finalize Joint Venture

19 October 2007 - Global iron and steel trader, processor and distributor Cargill has joined with RPS manufacturer and distributor Robinson Steel to form a new venture named Cargill Robinson, LLC.

Nafta and Latin American Steel Associations Develop Work Program

19 October 2007 - Representatives of five major NAFTA steel associations met recently with representatives of the Latin American Iron and Steel Association to discuss trade and other policy issues of common concern.

Reliance Reports 3rd Quarter Results

19 October 2007 - Reliance Steel & Aluminum reported net income of $93.6 million on sales of $1.81 billion for the third quarter and record net income of $328.0 million on record sales of $5.55 billion for the nine months ended September 30, 2007.

EPA Raises Additional Objections to Draft Permit for Gary Works

19 October 2007 - The U.S. EPA outlines three more objections to the draft wastewater discharge permit proposed by the State of Indiana for U.S. Steel’s Gary Works, following initial objections raised by EPA earlier this month.

Nucor Reports 3rd Quarter Results

19 October 2007 - Nucor reports consolidated net earnings of $381.2 million on consolidated net sales of $4.26 billion for the third quarter, and consolidated net earnings of $1.11 billion on consolidated net sales of $12.20 billion for the first nine months of 2007.