Steel News

Court Grants Stelco Additional Extension of Stay Period

19 July 2005 - Stelco Inc. was granted an Order of the Superior Court of Justice (Ontario) extending the stay period under its Court-supervised restructuring. Scheduled to expire July 18, 2005, the new order extends Stelco’s stay period until September 9, 2005.

Steel Dynamics Reports 2nd Quarter Net Income

19 July 2005 - Steel Dynamics, Inc. announced second quarter 2005 earnings of $51 million on net sales of $546 million.

AK Steel Announces August Surcharges

18 July 2005 - AK Steel will add a $183 per ton surcharge to invoices for flat-rolled carbon steel products shipped in August 2005. A $115 per ton surcharge will be added to invoices for electrical steel products shipped in August.

Stelco Court Monitor Files 33rd Report

18 July 2005 - Stelco Inc.’s court-appointed Monitor has filed its thirty-third report regarding the company's Court-supervised restructuring. The Report provides updated information regarding meetings held with shareholder groups, the lack of consensus among shareholder groups, current industry conditions and their impact on Stelco’s financial results, and Stelco’s request for extension of the stay period.

Gallatin Steel Celebrates 10th Anniversary

18 July 2005 - Gallatin Steel recently celebrated 10 years in business during a festive anniversary celebration attended by a crowd of nearly 500 attendees—including current and former employees, customers, vendors and contractors.

Mittal Steel Included in Fortune Global 500

18 July 2005 - Mittal Steel Co. NV has been included for the first time in Fortune Magazine's Global 500 list, the ranking of the world's largest corporations.

Stelco Files Restructuring Plan Outline

18 July 2005 - Stelco Inc. has filed a restructuring plan outline that it says is designed to ensure a viable company over the long term and provide lasting benefits for its stakeholders.

WCI Steel Names Walsh Vice President of Operations

15 July 2005 - WCI Steel, Inc. announced today that James F. Walsh has been named Vice President—Operations, effective July 1, 2005.

Bayou Steel Announces Recapitalization Plan

15 July 2005 -  

Blast Furnace Upgrade to Kick off 4-Year Modernization Program at Severstal

15 July 2005 - Severstal North America, Inc. has filed a permit to install application with the Michigan Department of Environmental Quality to expand and enhance the larger of its two blast furnaces. The company will invest more than $180 million to add capabilities that will improve furnace productivity, efficiency and reliability and significantly reduce particulate emissions associated with the ironmaking process in its Dearborn-based steelmaking operations.

California Steel Reports 2nd Quarter Results

14 July 2005 - California Steel Industries, Inc. reported net income of $9.7 million on sales of $306.6 million for the quarter ended June 30, 2005.

Fatal Accident at Republic Leads to OSHA Citations

14 July 2005 - The U.S. Labor Department's Occupational Safety and Health Administration (OSHA) has cited Republic Engineering Products, Inc., Lorain, Ohio, for alleged willful, serious and repeated workplace safety violations.

Core Furnace Systems to Supply STC Furnaces for MacSteel

14 July 2005 - MacSteel recently contracted Core Furnace Systems Corp. for the turnkey supply of two STC (Short Time Cycle) furnaces at the company’s Monroe, Mich., facility.

Stelco to Seek Extension of Stay Period

13 July 2005 - Stelco Inc. announced that it will appear in Court on July 18, 2005 to seek an extension of the stay period in its Court-supervised restructuring from that date until September 9, 2005.

Wheeling-Pittsburgh Steel Refinances Revolving Credit Facility

12 July 2005 - Wheeling-Pittsburgh Steel Corp. announced that effective July 8, 2005, it refinanced its revolving credit facility primarily with its current lenders.

Stainless Steel Imports Jump 26% Ahead of Year-to-Date 2004 Totals

11 July 2005 - Total stainless steel imports climbed to 234,130 tons through the first four months of 2005 — a 26% increase compared to the same period in 2004 — according to the latest data released by the Specialty Steel Industry of North America (SSINA). As imports climbed, U.S. consumption remained flat at 800,512 tons, bringing four-month import penetration to 29%, a six percentage point increase compared to the same period in 2004.