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North America

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

Latest News

AIME Seeks Nominations for 2006 Awards

24 March 2005 - The AIME Standing Award Committees are seeking nominees for the 2006 AIME Awards.

Steel Technologies Anticipates Record Q2 Sales and Earnings

23 March 2005 - Steel Technologies Inc. expects its results for the second fiscal quarter to reflect continued significant increases in sales throughout its operations.

Cleveland-Cliffs Increases Portman Interest to Over 60%

23 March 2005 - Cleveland-Cliffs Inc has received acceptances increasing its voting power in Portman Limited to over 60%.

Quanex Approves Capital Project for MacSteel

23 March 2005 - Quanex Corp.’s Board of Directors has approved Phase 9, a $38 million value added capital improvement project for its MacSteel Monroe facility.

Commercial Metals Reports Record 2nd Quarter

23 March 2005 - Commercial Metals Co. reported net earnings of $56.6 million on net sales of $1.6 billion for the quarter ended February 28, 2005, ranking it as the strongest second quarter ever reported for the company. The company also reported net earnings of $130.3 million on net sales of $3.1 billion for the first six months of the fiscal year.

Quanex Announces Purchase of Besten

22 March 2005 - Quanex Corp. announced the purchase of privately held Besten Inc., located in Cleveland, Ohio.

Cleveland-Cliffs Increases Interest in Portman

22 March 2005 - Cleveland-Cliffs Inc has acquired a total relevant interest in approximately 48.4 million Portman shares, representing approximately 27.6% of Portman's issued share capital as of Monday morning. The offer for Portman was due to close at 7:00 p.m. (Perth time), which is 6:00 a.m. (New York time) on March 22, 2005.

Allegheny Ludlum Sets Price Increases for Cold Rolled Stainless

22 March 2005 - ATI Allegheny Ludlum announced that it would increase prices for T309, T310 and T330 cold-rolled stainless steel sheet, strip, plate, continuous mill plate and Tubular Quality sheet and strip by approximately 5%.

Ladle Carrier Tires Explode at Severstal North America

22 March 2005 - Severstal North America, Inc. reported that twelve Severstal and outside emergency responders were injured when two tires on a liquid steel carrier caught fire and exploded.

Stainless Steel Imports Grow 37% in 2004 on 13% Consumption Increase

21 March 2005 - Data released by the Specialty Steel Industry of North America (SSINA) show that stainless steel imports have increased to 677,173 tons in 2004. The 37% increase in stainless imports compared to 2003 overshadows the 13% growth in domestic stainless steel consumption over the same period. Total specialty steel imports (including stainless, alloy tool steel and electrical steel) increased by 29% over the same period, more than double the 11% growth in specialty steel consumption.

January Steel Shipments Slightly Below January 2004

21 March 2005 - U.S. steel mills shipped 8,791,000 net tons in January 2005 according to the latest data released by the American Iron and Steel Institute (AISI). This total represents a 3.2% decrease from the 9,082,000 net tons shipped in January 2004, and a 4.1% increase from the 8,447,000 net tons shipped in the previous month, December 2004.

Steel Dynamics Appoints Two New Directors

18 March 2005 - Steel Dynamics, Inc.’s Board of Directors has increased the authorized number of directors from ten to eleven. The board announced that current SDI director James E. Kelley, 86, has resigned due to ill health.

Roanoke Electric Steel Adjusts Fuel Surcharge

18 March 2005 - Roanoke Electric Steel Corp. has informed its customers that it will increase its fuel surcharge from 8 to 12%, effective with shipments on Monday, March 21.

North American Stainless Starts up Danieli Billet Caster

18 March 2005 - North American Stainless has cast its first heat of billets in Carrollton, Ky.

Sterling Steel to Implement Ivara Asset Reliability Program

18 March 2005 - Sterling Steel Co., LLC has partnered with Ivara Corp. to improve equipment reliability. The asset reliability initiative will focus on improving maintenance effectiveness and increasing asset performance, with the ultimate goals of increasing equipment availability and throughput, reducing plant downtime, lowering operating costs, and optimizing spare parts inventory.

Worthington Industries Reports 3rd Quarter Results

17 March 2005 - Worthington Industries, Inc. reported net earnings of $33.1 million on net sales of $747.4 million for third quarter, and net earnings of $138.6 million on net sales of $2,261.9 million for the nine-month period ended February 28, 2005.

Tennessee Minerals to Offer Domestic Iron Ore Fines Supply

17 March 2005 - Tennessee Minerals, LLC will soon make available approximately 15 million tons of high-quality iron ore fines.

Steel Dynamics Revises Earnings Outlook

17 March 2005 - Steel Dynamics, Inc. has adjusted its outlook for the first half of 2005. The new guidance forecasts lower than previously expected first quarter results, but a stronger and substantially improved second quarter.

NAML Completes Purchase of Grupo Industrial NKS

16 March 2005 - North American Liability Group (NAML) has closed the contract and share exchange agreement to acquire 75% of all the issued outstanding shares of Grupo Industrial NKS, SA de CV, Mexico. The transactions were completed on March 11, 2005.

AK Steel Announces April Surcharges

16 March 2005 - AK Steel will add a $230 per ton surcharge to invoices for flat-rolled carbon steel products shipped in April 2005, an increase of $16 from March's surcharge of $214 per ton. For electrical steel products, the company will add a $295 per ton surcharge, a decrease of $45 from the March surcharge of $340 per ton for those products.

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