Steel News

California Steel Reports 2nd Quarter Results

14 July 2004 - California Steel Industries, Inc. reported net income of $26.3 million on sales of $288.5 million for the quarter ended June 30, 2004.

Algoma Steelworkers Vote to Strike if Necessary

14 July 2004 - The membership of the United Steelworkers’ Local 2251 has voted 96% in favor of strike action against Algoma Steel Inc. if the negotiating committee deems it necessary.

Dofasco Adjusts 2nd Quarter Earnings Outlook

14 July 2004 - Dofasco Inc. announced that it expects its consolidated earnings for the second quarter of 2004 to be approximately $1.45 per common share, above the range of $0.83 to $1.20 expected by steel industry analysts.

Allegheny Technologies Announces Public Common Stock Offering

13 July 2004 - Allegheny Technologies Inc. is making a public offering of 10 million shares of its common stock under its effective shelf registration statement. Over a 30-day period, the underwriters have the option to purchase up to 1.5 million additional shares to cover over-allotments.

Latest Update on Wheeling Pittsburgh EAF Construction

13 July 2004 - Wheeling Pittsburgh Steel Corp. has updated its website with information and photos about the construction and future operations of the electric arc furnace that is under construction at its Mingo Junction plant.

Cliffs Comments on Strike at Wabush Mines

12 July 2004 - Cleveland-Cliffs Inc. expressed its disappointed that the United Steelworkers of America have called a strike at Wabush Mines in Canada.

ISG Riverdale Resumes Operations Ahead of Schedule

12 July 2004 - International Steel Group Inc. announced today that its ISG Riverdale Inc. subsidiary restarted operations on July 2, ahead of schedule, and is rapidly returning to normal operations.

U. S. Steel to Sell Former South Works Property

12 July 2004 - United States Steel Corp. and Southworks Development, LLC announced an agreement for the sale of 275 acres of land on the former site of U. S. Steel's South Works steelmaking facility. Terms of the agreement, which is subject to approval by U. S. Steel's board of directors, were not announced.

ISG Weirton to Start Second Blast Furnace

12 July 2004 - International Steel Group Inc. will restart a second blast furnace at the Weirton, W.Va., facility, in response to strong customer demand for its value-added, coated steel products.

Allegheny Technologies Announces New Board Committee Assignments

09 July 2004 - Allegheny Technologies Inc. announced that James E. Rohr, 55, was named Chairman of ATI's Audit Committee and Diane C. Creel, 55, was named Chairman of ATI's Finance Committee.

ITC Makes Determinations in Sunset Review of Stainless Steel Wire Rod

09 July 2004 - In its five-year sunset review of existing antidumping duty orders on stainless steel wire rod from Italy, Japan, Korea, Spain, Sweden, and Taiwan, the U.S. International Trade Commission (ITC) has determined that revocation of the orders would be likely to lead to material injury within a reasonably foreseeable time.

Quanex Files Registration Statement for Resale of Convertible Debentures

08 July 2004 - Quanex Corp. has filed a registration statement with the Securities and Exchange Commission (SEC) to register for resale its 2.50% Convertible Senior Debentures due 2034, and any shares of Quanex common stock issuable upon conversion of the debentures.

Horsehead Announces Executive Appointments

08 July 2004 - Horsehead Corp. has named Bob Scherich as the company's Vice President & Chief Financial Officer and has appointed Jim Totera to the newly created position of Vice President - Sales & Marketing.

Schnitzer Steel Reports Record Quarterly Revenue and Net Income

08 July 2004 - Schnitzer Steel Industries, Inc. reported net income of $42.5 million on revenues of $193.8 million for the third quarter ended May 31, 2004. For the first nine months of fiscal 2004, Schnitzer Steel reported net earnings of $73.2 million on revenues of $483.7 million.

Steel Industry Groups Sign Safety Alliance with OSHA

08 July 2004 - The U.S. Occupational Safety and Health Administration (OSHA) and the three major trade associations representing virtually all of the basic and specialty steel producers in America have joined forces in an effort to enhance worker safety and health in the nation's steel mills.

Steel Technologies Added to Russell 2000 Index

07 July 2004 - Steel Technologies Inc. announced that it has been added to the Russell 2000 Index(R) as part of the annual reconstitution of that index.

ITC Will Conduct Expedited Sunset Review of Barbed Wire, Barbless Strand

07 July 2004 - The U.S. International Trade Commission (ITC) has voted to expedite its five-year sunset review concerning the antidumping duty order on barbed wire and barbless wire strand from Argentina.

AK Steel Expects to Report Second Quarter Net Income

07 July 2004 - AK Steel Corp. said that it expects to report net income for the second quarter of 2004, excluding an anticipated gain on the sale of the company's Houston, Texas, industrial park, which was completed on April 12, 2004.

Wheeling Pittsburgh Generates Savings from Idled Equipment and Buildings

07 July 2004 - Wheeling Pittsburgh Steel Corp. has completed more than half of a demolition program that is expected to generate in excess of $1.1 million in scrap steel savings.

ITC Will Conduct Full Sunset Reviews of Stainless Steel Plate

07 July 2004 - The U.S. International Trade Commission (ITC) has voted to conduct full five-year sunset reviews of the countervailing duty and antidumping duty orders on stainless steel plate from Belgium, Canada, Italy, Korea, South Africa and Taiwan.