BICO Steel has acquired Integrity Fab and Machine Inc. (IFABM), further expanding its processing and fabrication capabilities. BICO is a processor of heavy carbon steel plate and forged specialty alloy steel in Mogadore, Ohio, providing die casting, fabrication, machining, and other processes that serve various end-use segments. The addition of Breckenridge, Mich.-based IFABM, which specializes […]
There’s something special about tales of yesteryear. Stories of a bygone era — before cell phones, virtual reality, and self-driving cars — can create a longing for nostalgia. For the Quality Metal Stamping (QMS) family, those tales of old are engrained in the company’s history. Steel Market Update sat down with Stephen Serling, a member of […]
Galvanized prices continue to drop, as discussed during this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-conditioning & Refrigeration Distributors International (HARDI). Prices have been steadily dropping for the past six months despite stable demand. A few highlights from the call include the differential between hot-rollled and cold-rolled coil being in […]
“Training is everything: Invest in your employees.” – Chris Shipp, vice president of sales for Reibus Over 50 individuals got an up close and personal look at steelmaking at Steel Market Update’s final Steel 101 Workshop of 2022 on Oct. 19–20 in Corpus Christi, Texas. A mill tour was hosted by Steel Dynamics Inc. (SDI) Southwest Sinton […]
Raw steel production by US mills dropped last week, and capability utilization remains below 80%, where it’s now stayed for 15 straight weeks. Rate at or above 80% are considered healthy. Recall that utilization below the 80% benchmark contributed to the 2018 implementation of Section 232 tariffs. Domestic steel output was 1,669,000 net tons in the week […]
Business activity in the state of New York has recently declined, according to the Empire State Manufacturing Survey responses collected by the Federal Reserve Bank of New York between Oct. 3 and Oct. 11. The survey’s headline general business conditions index dropped to -9.1 for October, maintaining a negative value for the third straight month. The index […]
Raw steel production by US mills rose modestly last week, but capability utilization remans below 80%. Utilization rates haven’t eclipsed 80% in 14 weeks. This matters because rates at or above 80% are considered healthy. Indeed, rates below that level were part of the justification for the implementation of Section 232 tariffs in 2018. Domestic steel output […]
Green iron startup company Electra has raised $85 million to support its production of low-temperature iron (LTI). The process will utilize commercial and low-grade ores and zero-carbon electricity. The Boulder, Colo.- based company focuses on iron refining without a green premium and is backed by various organizations, including the Bill Gates-founded Breakthrough Energy Ventures, Amazon, […]
Flash Steelworks, Inc. is breaking ground on a $12.1 million armor and military-grade plate manufacturing facility in Middlesboro, Ky., the company said in an Oct. 12 release. “Starting in Middlesboro, we will deploy leading-edge advanced steel technology and products in what is planned to be a regional industrial hub,” said Gary Cola Jr., founder, and […]
Nearly a month after reaching a tentative labor agreement, the possibility of a rail strike is back on the table, as the Brotherhood of Maintenance of Way Employees Division (BMWED) of the International Brotherhood of Teamsters union announced on Oct. 10 the rejection of its deal with the freight rail lines. Union members voted in […]
Minnesota is joining forces with North Dakota, Montana and Wisconsin to develop a multistate hydrogen hub. The announcement, made on Oct. 5, stated the Heartland Hydrogen Hub will be a regional clean energy hub that spans across the northern states. Under a memorandum of understanding signed by the governors of all four states, a proposal […]
ArcelorMittal is investing in energy storage. The Luxembourg-based global steel manufacturer announced on Oct. 4 a $17.5 million dollar investment in Form Energy Inc. Founded in 2017, Form Energy is a Somerville, Mass.-based company with employees in the San Francisco Bay area and Pittsburgh. The manufacturer is developing an iron-air battery that will be able […]
BNSF Railway is thinking of a master plan. The Class I freight railroad announced on Oct. 1 its plans to invest more than $1.5 billion into a master-planned inland facility in Southern California. Named Barstow International Gateway, BNSF’s new hub location will be approximately 135 miles northeast from the Ports of Long Beach and Los […]
Raw steel production by US mills saw a slight uptick. Last week’s utilization is only modestly elevated compared to the previous week’s. Utilization rates haven’t eclipsed the 80% mark in thirteen weeks, the longest run since the pandemic. Domestic output was 1,700,000 net tons in the week ending Oct. 1, while capacity utilization was 77.1%, according […]
Metals supplier Alro Steel has completed the acquisition of Access Metals, a service center and supplier located in Essex, Md. Effective Sept. 30, the purchase allows Alro to continue growing its customer base. Access Metals caters to small-purchase customers, both from the public and within the manufacturing, machining, and fabricating industries. “Alro shares my philosophy […]
In a time where technology is fashionable and trends change in the blink of an eye, starting fresh can feel like a step in the wrong direction. For the team at NQ Industries, a steel startup in the Pacific Northwest, it’s anything but that. Steel Market Update (SMU) caught up with the founders of NQ […]
Raw steel production by US mills took another slight hit. Last week’s utilization is the lowest since the week of Feb. 13, 2021, and the lowest total output since the week of Jan. 2, 2021. Utilization rates haven’t eclipsed the 80% mark in twelve weeks, the longest run since the pandemic. Domestic output was 1,683,000 net tons […]
GM is transforming its propulsion plant in Toledo, Ohio, in preparation for EV-related production. The Detroit-based auto manufacturer is investing $760 million to produce powertrains that will be used in future electric vehicles, with renovations starting this month. The news comes just one week after the company announced that it is investing in updating its […]
Sandeep Pandya, CEO of Everguard.ai., shared his expertise on how artificial intelligence (AI) technology can improve safety in the workplace in the latest SMU Community Chat. “In the steel industry, we have so many folks doing so many different activities, and the focus is worker safety. Deep learning helps us contextualize what the worker is […]
Lapham-Hickey Steel is continuing its growth by taking a controlling stake in Mexico’s lamination stamper and value-added services provider VC Laminations. VC Laminations, located in Queretaro, Mexico, is a family-owned business that produces a complete line of E&I and motor laminations to the electric and power generation markets. The manufacturer has 10 high-speed progressive stamping […]
SSAB is expanding its decarbonization efforts. The Swedish steel company recently announced its partnership with equipment manufacturer Oshkosh Corp. Oshkosh will receive fossil-free steel from SSAB to manufacture environmentally-friendly vehicles. “We are very happy to welcome Oshkosh Corp. into our partner group to be the first in the US to prototype fossil-free steel in commercial and […]
Growth is on the horizon for Commercial Metals Company (CMC). The Irving, Texas-based metals provider and recycler announced its acquisition of Advanced Steel Recovery LLC (ASR) in a press release on Sept. 15. In addition to supplying recycled ferrous metals, Rancho Cucamonga, Calif-.based ASR possesses processing and brokering capabilities with which they can procure material […]
General Motors is sprucing things up. The Detroit-based automaker announced on Sept. 15 that it will invest $491 million into its Marion, Ind., metal stamping facility to prepare for the production of various steel and aluminum parts to be used in electric vehicles (EVs). The expenditure will go towards two new press lines, complete press […]
To stimulate the development of low-carbon, made-in-America materials, the Biden administration has announced new activities under the Federal Buy Clean Initiative. An announcement made by the White House on Sept. 15 in Toledo, Ohio, noted that the Federal Government will prioritize the purchase of essential low-carbon construction materials, covering 98% of materials purchased by the […]
On the heels of a lengthy arbitration period, union negotiators and the major rail companies have settled on a tentative labor agreement to further avoid a strike. A statement made on Sept. 15 by the US Department of Labor noted, “Moments ago, following 20 consecutive hours of negotiations at the Department of Labor, rail companies […]
Samuel, Son & Co. is expanding its family, announcing its recent acquisition of technology development company RAMP Inc. Based in Waterloo, Ontario, RAMP specializes in full system design, technology development, and integration. Its custom automation systems are intended to increase efficiencies in the workplace. “RAMP is an outstanding automation integrator with a unique product and […]
Nucor Corp. is urging buyers to be prepared in case of a strike by railroad workers. The Charlotte, N.C.-based steemaker warned in a Sept. 13 letter to customers that a Sept. 16 rail walkout is possible and provided some details around the situation. A Presidential Emergency Board was established to help the Class I railroads […]
Intel broke ground on its new chipmaking facility on Sept. 9. The Licking County, Ohio, site will be the company’s newest manufacturing site built in 40 years. In conjunction with the new facility, Intel is establishing the Ohio Semiconductor Education and Research Program as a means to develop skilled workers for the new plants. “Today […]
Raw steel production by US mills took a hit last week after a one-week recovery. Last week’s utilization is the lowest since the week of Feb. 13, 2021, and the lowest total output since the week of Jan. 2, 2021. Utilization rates haven’t eclipsed the 80% mark in eleven weeks, the longest run since the pandemic. Domestic […]
Ryerson has announced its acquisition of Howard Precision Metals, one of the largest distributors of aluminum in the Midwest. “Howard has cultivated a strong brand and a reputation for creating excellent customer experiences,” said Mike Burbach, Ryerson’s COO. “Its processing capabilities complement Ryerson’s existing non-ferrous franchise, and we are excited to recognize these synergies as […]