Steel News

Worthington Reports Second Quarter Results

06 January 2012 - Worthington Industries, Inc. reported net sales of $570.4 million and net earnings of $18.5 million, or $0.27 per share, for its fiscal 2012 second quarter ended November 30, 2011, compared to last year's reported net sales of $580.7 million and net earnings of $14.5 million, or $0.20 per share.

Nucor to Close Nuconsteel

06 January 2012 - Nucor announced plans to exit the business of fabricating light gauge steel framing and close its Nuconsteel division.

CMC Enters Amended Credit Agreement, Receivables Purchase Agreement

04 January 2012 - Commercial Metals Co. has entered into amended Credit and Receivables Purchase Agreements.

ALJ Announces Results for Fiscal Year 2011

03 January 2012 - ALJ Regional Holdings, the parent company of Kentucky Electric Steel, posted net income of $5.919 million on net sales of $45.89 million for the fourth quarter, and net income of $11.417 million on net sales of $162.01 million for the year ended September 30, 2010.

Production Starts at Bahru Stainless

29 December 2011 - Bahru Stainless recently started up its factory in Johor Bahru, Malaysia, successfully processing its first coil in the annealing and pickling line AP1 on December 12.

Evraz NA Signs New Revolving Facility

29 December 2011 - Evraz plc has closed a USD610 million five-year committed revolving credit facility for Evraz NA. Funds will be used to re-finance existing facilities as well as for financing Evraz NA's working capital requirements.

Steel Dynamics Launches Partial Tender Offer for 7 3/8% Senior Notes

28 December 2011 - Steel Dynamics, Inc. has commenced a cash tender offer for up to $350 million of the $700 million outstanding aggregate principal amount of its existing 7 3/8% Senior Notes due 2012.

AK Steel Honors Local Women for Community Contributions

27 December 2011 - The AK Steel Foundation is underwriting the Steel Magnolia Awards in recognition of women who have overcome obstacles to make a positive difference in the lives of others.

EVRAZ to Upgrade Pueblo Rail Operations

23 December 2011 - EVRAZ plans to upgrade its Pueblo, Colo., rail facility to improve product quality and operational efficiency, and expand head hardened rail manufacturing capacity.

Qatar Steel Increases Stake in South Steel to 29.74%

23 December 2011 - Qatar Steel’s Board of Directors has recently approved the company’s decision to increase its stake in South Steel of Saudi Arabia by additional 9%, to 29.74%.

SMS Siemag Commissions 2nd Production Line at Severstal Columbus

22 December 2011 - SMS Siemag has commissioned a second production line with an electric steel plant, second CSP® casting strand, and a push-pull pickling line at Severstal Columbus.

AK Steel Announces Carbon Steel Price Increase

21 December 2011 - AK Steel announced plans to increase current spot market base prices for all carbon flat-rolled steel products, effective immediately with new orders.

CMC Announces Guidance for First Quarter 2012 Earnings

20 December 2011 - Commercial Metals Co. expects to report earnings in the range of $0.87 to $0.97 per diluted share for its first quarter ended November 30, 2011, a substantial increase over the $0.01 earnings per share recorded for the first quarter of fiscal 2011.

USW Members Ratify Labor Agreement at AK Steel Tubemaking Unit

20 December 2011 - Members of United Steelworkers of America (USW) Local 1915 have ratified a new three-year labor agreement with AK Steel’s wholly-owned subsidiary, AK Tube LLC.

Timken and USW Local 1123 Agree on Proposed Contract

19 December 2011 - The Timken Co. and the United Steelworkers Local 1123 have reached agreement on a new five-year contract. A ratification vote for the new contract is being scheduled.

Steel Dynamics Provides Fourth Quarter Earnings Guidance

19 December 2011 - Steel Dynamics expects to report fourth quarter earnings in the range of $0.08 to $0.12 per diluted share, a drop from earnings of $0.19 per diluted share in the previous quarter.

Nucor’s DiMicco Named to Manufacturing Hall of Fame

16 December 2011 - Nucor Corp. Chairman and CEO Dan DiMicco was named to IndustryWeek magazine's Manufacturing Hall of Fame, one of just ten members selected this year.

AK Steel Provides Fourth-Quarter Guidance

16 December 2011 - AK Steel opted to provide guidance later in the fourth quarter when it had more information upon which to base its estimates. The company now expects shipments of approximately 1.4 million tons in the 2011 fourth quarter, or about 2% higher than the third quarter of 2011, and about 3% higher than in the year-ago fourth quarter.

Nucor Announces Fourth Quarter Earnings Guidance

16 December 2011 - Nucor Corp. announced guidance for its fourth quarter ending December 31, 2011, including the expectation of results in the range of $0.22 to $0.27 per diluted share.

ThyssenKrupp Steel USA President and CEO to Assume New Responsibilities

14 December 2011 - ThyssenKrupp Steel USA announced that President and CEO Chris Lackinger is leaving his position January 1, 2012 to assume other responsibilities within the ThyssenKrupp Group.