Steel News

Posco Selected as Most Admired Korean Company

23 May 2012 - Posco ranked first as the Most Admired Korean Company in 2012 after Fortune Korea and the Sungkyunkwan University Management Research Institute applied Fortune’s “Most Admired Company” survey method to Korean companies.

ALJ Announces 2nd Quarter Earnings

21 May 2012 - ALJ, the parent company of Kentucky Electric Steel, reported net income of $3.107 million on net sales of $44.384 million for the second quarter, and net income of $4.831 million on net sales of $83.279 million for the six months ended March 31, 2012.

Nucor to Acquire Skyline Steel

18 May 2012 - Nucor Corp. has signed a Stock Purchase Agreement to acquire the membership interests of Skyline Steel LLC and its subsidiaries from ArcelorMittal, for approximately $605 million. Skyline Steel will be a wholly owned subsidiary of Nucor Corp. and will maintain its headquarters in Parsippany, N.J.

Schnitzer Provides Outlook for Q3 of Fiscal 2012

18 May 2012 - Schnitzer Steel Industries, Inc. announced its market outlook for its third quarter of fiscal 2012, noting that margins have compressed from the second quarter as a slight increase in average gross ferrous selling prices has been more than offset by higher costs of both raw materials and freight.

Severstal to Supply Coking Coal and Iron Pellets to Rautaruukki

17 May 2012 - Severstal Resources Mining Division will supply Rautaruukki’s production facilities with coking coal and iron ore pellets for the next three years.

ThyssenKrupp Examines Options for Steel Americas Plants in Brazil, U.S.

16 May 2012 - The Executive Board of ThyssenKrupp AG informed the Supervisory Board of its decision to examine strategic options for the plants of Steel Americas in Brazil and the U.S., in parallel with further technical and commercial optimization, to which the Supervisory Board assented. The options may involve a partnership or a sale to a best owner whose strategy can better utilize the plants.

RG Steel to Restart L-Blast Furnace at Sparrows Point

15 May 2012 - RG Steel issued a release that on May 12 the company was to restart its L Blast Furnace at Sparrows Point. The L Blast Furnace had been shut down on May 9 as scheduled for a routine maintenance outage.

U. S. Steel Names General Manager-Tubular Operations

14 May 2012 - United States Steel Corp. announced the promotion of Kurt A. Barshick to the position of General Manager – Tubular Operations, with responsibility for day-to-day operations at four of U. S. Steel's tubular products manufacturing facilities.

Timken Supplies Bearings for Large Vertical Slag Mill in China

11 May 2012 - The Timken Co. has supplied bearings for one of China's largest vertical slag mills, featuring a 5.7-meter (18.7-feet) grinding table. The mill was developed by CITIC Heavy Industries Co. Ltd., one of China's top manufacturers of cement-producing equipment.

AK Steel Announces Carbon Steel Price Increase

10 May 2012 - AK Steel announces plans to increase current spot market base prices for all carbon flat-rolled steel products.

SMS Siemag, SMS INNSE to Upgrade ACERINOX Meltshop

09 May 2012 - ACERINOX, Palmones, Spain, has awarded SMS Siemag and SMS INNSE S.p.A. a contract for the modernization of the electric arc furnace and the supply of an AOD converter vessel, respectively.

Gerdau to Replace Continuous Caster at St. Paul Facility

08 May 2012 - Gerdau plans to invest $50 million to replace the continuous caster at its St. Paul, Minn., mill. The investment will increase Special Bar Quality (SBQ) capacity by 100,000 tonnes and increase the mill’s total capacity to 550,000 tonnes.

Gerdau Announces Additional $21.6 Million Capital Investment in Michigan

08 May 2012 - Gerdau will spend an additional $21.6 million to increase its straightening and quality inspection capabilities at its North American special steel facility in Monroe, Mich.

Nucor Facilities Receive Environmental Awards

07 May 2012 - Vulcraft-Texas and Century Industrial Coatings have been honored with the 2012 Texas Environmental Excellence Award for reducing VOC emissions. Nucor Steel-Berkeley has been awarded the South Carolina Manufacturers Association's "Made in SC Excellence in Corporate Responsibility Award."

Ruukki Signs Coking Coal, Pellet Contract with Severstal

04 May 2012 - Rautaruukki has signed a three-year contract for supplies of coking coal and iron pellets with Severstal Resources, a division of the Russian company OAO Severstal.

Worthington Announces Succession Plan for President & COO Steel

30 April 2012 - Worthington Industries, Inc. announced that Mark A. Russell will become the next President and Chief Operating Officer of the company, effective Aug. 1, 2012, replacing George P. Stoe. Geoff G. Gilmore will replace Russell becoming the next president of Worthington Steel also on Aug. 1.

Timken Posts Record First Quarter, Raises Full-Year Outlook

27 April 2012 - The Timken Co. reported record sales of $1.4 billion in the first quarter of 2012, an increase of 13% over the same period a year ago. The company also generated record income of $155.7 million, or $1.58 per diluted share, compared with $112.7 million, or $1.13 per diluted share, a year ago.