Steel News

OSHA Fines Republic Engineered Products

09 November 2010 - The U.S. Department of Labor's Occupational Safety and Health Administration has cited Republic Engineered Products Inc. with one alleged willful, four repeat, and eight serious safety violations for exposing its workers to fall hazards, failing to provide protective equipment, and failing to maintain equipment at its Lorain, Ohio, facility.

Canadian Steelworkers Critical of U.S. Steel Lockout

09 November 2010 - U.S. Steel recently locked out 900 workers at its Hamilton Works facility for refusing “major, unilateral contract concessions,” according to Canadian steelworkers. The cuts include pension changes that also would affect 9000 retired workers receiving pensions.

AK Steel to Increase Carbon Steel Prices

08 November 2010 - AK Steel will increase current spot market base prices for all carbon flat-rolled steel products effective immediately with new orders.

Keystone Reports Third Quarter 2010 Results

05 November 2010 - Keystone Consolidated Industries, Inc. reported net income of $2.3 million, or $0.19 per diluted share, in the third quarter of 2010 as compared to net income of $5.9 million, or $0.48 per diluted share, in the third quarter of 2009.

Cliffs Ranks in Top 100 for Sustainability

03 November 2010 - Cliffs Natural Resources Inc. was named to the Global 1000 Sustainable Performance Leaders, achieving an overall ranking of 97 among other publicly traded global companies. It also ranked fourth among the 64 companies recognized in the Metals and Mining category.

Carpenter Technology Reports First Quarter Results

02 November 2010 - Carpenter Technology Corp. reported net income of $7.6 million, or $0.17 per share, for the quarter ended September 30, 2010. This compares to a net loss of $9.3 million, or negative $0.21 per share, for the same quarter a year ago. Net sales for the first quarter were $351.7 million, up 50% from the prior year.

AK Steel Announces December 2010 Surcharges

02 November 2010 - AK Steel says it will add a $285 per ton surcharge to invoices for electrical steel products shipped in December 2010.

Universal Stainless Announces Resignation of Chief Technology Officer

02 November 2010 - Universal Stainless & Alloy Products announced the resignation of Arthur C. Reardon, the company’s Chief Technology Officer, effective October 29, 2010.

Universal Stainless Reports 2010 Q3 Results

01 November 2010 - Universal Stainless & Alloy Products, Inc. reported $51.9 million in sales for the third quarter of 2010 compared with $25.3 million in the third quarter of 2009 and $51.3 million in the 2010 second quarter. Net income for Q3 was $4.1 million, or $0.60 per diluted share, compared with $0.3 million, or $0.05 per diluted share, for the same period last year.

CMC Reports 4th Quarter, Year-End Results

01 November 2010 - Commercial Metals Co. reported net earnings of $8.0 million on net sales of $1.8 billion for the fourth quarter and a net loss of $205.3 million on net sales of $6.3 billion for the year ended August 31, 2010.

U. S. Steel Appoints Executives in Tubular Products

28 October 2010 - United States Steel Corp. announced several executive appointments in its Tubular Products business, including Douglas R. Matthews, currently Vice President of Tubular Operations, being appointed Senior Vice President – Tubular Operations.

AK Steel Reports Third-Quarter Financial Results

27 October 2010 - AK Steel reported a net loss of $59.2 million, or $0.54 per diluted share of common stock, for the third quarter of 2010, compared to net income of $6.2 million, or $0.06 per diluted share, for the same period a year ago.

United States Steel Reports 2010 Q3 Results

27 October 2010 - United States Steel Corp. reported a third-quarter 2010 net loss of $51 million, or $0.35 per diluted share, compared to a net loss of $25 million, or $0.17 per diluted share, in the second quarter of 2010 and a net loss of $303 million, or $2.11 per diluted share, in the third quarter of 2009.

California Steel Reports Q3 2010 Results

26 October 2010 - California Steel Industries, Inc. reported third-quarter net income of $2.0 million for the period ended September 30, 2010. Sales revenues for the quarter are $313.9 million on shipments of 365,608 net tons, 50% higher than third quarter 2009's 244,417 net tons.

OmniSource Responds to Criminal Charges

26 October 2010 - Steel Dynamics, Inc. announced that its wholly-owned subsidiary, OmniSource Corp., was indicted on multiple criminal charges involving the alleged receipt or attempted receipt of stolen property. The allegations come after a lawsuit filed on October 15 against the Prosecutor seeking the return of $277,000 in cash unlawfully retained after the raid.

Nucor Reports Results for 2010 Q3, First Nine Months

22 October 2010 - Nucor Corp. announced consolidated net earnings of $23.5 million, or $0.07 per diluted share, for the third quarter of 2010, compared to net earnings of $91.0 million, or $0.29 per diluted share, in the previous quarter and a net loss of $29.5 million, or $0.10 per diluted share, in the third quarter of 2009.

Esmark Steel Group Acquires Assets of Kelco Metals

21 October 2010 - Esmark Steel Group has acquired the assets of Schaumburg, Ill.-based steel distributor Kelco Metals Inc. for more than $9 million. Kelco Metals will add approximately 50,000 tons of steel shipments annually to the company’s total shipments.

Schnitzer Steel Reports Strong Fiscal 2010 Performance

21 October 2010 - Schnitzer Steel Industries, Inc. reported net income of $18.15 million on revenues of $639.1 million for the fourth quarter, and net income of $70.7 million on revenues of $2.3 billion for the full fiscal year 2010, which ended August 21, 2010.

Carpenter Technology, Sandvik Partner in Powder Technology

20 October 2010 - Carpenter Technology Corp. and Sandvik Materials Technology have established a strategic partnership to mutually reinforce each company’s long-term commitment in powder metal products. Carpenter Technology will acquire a 40% interest in Sandvik Powdermet AB, and Sandvik AB will acquire a 40% interest in Carpenter Powder Products AB.

Steel Dynamics Reports 3rd Quarter 2010 Results

19 October 2010 - Steel Dynamics reports net income of $19 million on net sales of $1.6 billion for the third quarter, and net income of $133 million on net sales of $4.8 billion for the first nine months of 2010.