East coast ports are currently battling crippling congestion, a problem that will likely not wane as we approach peak cargo season. To avoid west coast congestion, many importers have diverted shipments eastward. Unfortunately, the same challenges followed. As excess containers stack up, the port of New York and New Jersey has resolved to implement a […]
A breakout at JSW Steel USA’s mill in Mingo Junction, Ohio, resulted in a fire late last month. But the steelmaker does not expect the incident to disrupt customers. “We had a loss of containment of steel from a ladle while processing at the LMF (ladle metallurgy furnace). This resulted in a fire which damaged some […]
ArcelorMittal has announced the idling of furnaces across Europe, including blast furnace A at its steel works in in Asturias, Spain, multiple facilities in Germany, and the blast furnace at its mill 2 in Dunkirk, France. According to the Luxembourg-based company, blast furnace A in Asturias will be shut down by the end of September. Blast […]
ArcelorMittal is committed to EV. The Luxembourg-based steel company recently announced a collaboration to provide its steel knowledge to Atlis Motor Vehicles. ArcelorMittal will provide its S-in motion® solutions to hasten the design process. Currently, Atlis is developing a fully electric truck that will be designed for individuals working in the agriculture, service, utilities, and construction […]
The 2022 NexGen Award winner Austin Reynolds is eager to innovate and create an impact in the steel business. Traits that helped him earn an accolade claimed by just three recipients before him. Steel Market Update (SMU) sat down with Austin and Ace Steel Supply’s COO Bruce Margolin, to find out what it takes to […]
Hot rolled and galvanized prices continue to decline but many continue to go unchanged, members said during this month’s call with HARDI’s Sheet Metal/Air Handling Council. Much like July, members are currently seeing strong demand and foresee stability in the near future. It’s been an eventful month to say the least. Nucor and Cleveland-Cliffs both […]
Nucor Corporation plans to install an air separation unit at its Huger, South Carolina facility. The investment was announced as a contribution to the mill modernization undertaking. The air separation unit (ASU) will supply industrial gases for steelmaking operations. Currently, Nucor Steel Berkeley is under a long-term agreement for its industrial gas supply. However, the […]
How do we attract younger people to the steel industry? The NexGen Metals Community was established to solve that problem. We were privileged enough to have the group sit down and bring to light how the working landscape might evolve in the coming years. Without question, having a great place to work is essential to […]
The automotive, construction and energy sectors have seen their fair share of hurdles over the past year or so. Despite near-term headwinds, the outlook is bright, according to a panel speaking at the 2022 SMU Steel Summit conference in Atlanta. If we had a crystal ball, we likely would still lack the ability to discern […]
Stelco Inc. CEO Alan Kestenbaum got candid with Steel Market Update’s (SMU) Michael Cowden during the third fireside chat of the 2022 SMU Steel Summit conference. This year was Kestenbaum’s first time speaking at the Summit. Forecasting For the Near Future Though we’ve already seen prices skyrocket and dip back down, Kestenbaum clued us in […]
The pulse on this year’s service center health check at SMU’s 2022 Steel Summit was strong. Despite challenging and unpredictable times, service center CEOs remain positive. “It’s challenging, but we’re optimistic. This industry is old and immortal,” said Edward Lehner, president and CEO of Ryerson, speaking on a Summit panel. Through a wave of unexpected […]
For the fourth consecutive year, the NexGen Metals Community granted the SMU NexGen Leadership Award to a deserving nominee. This year’s nominees were Ben Bullock of Flack Global Metals, Robert Donovan from Jemison Metals, and the winner, Austin Reynolds of Ace Steel Supply. The award was presented by Phil Bell of the Steel Manufacturer’s Association, […]
July proved to be another bleak month for existing-home sales in all four major US regions, according to the National Association of Realtors. Home sales were down 5.9% from June, declining 20.2% when compared to the same year-ago perido. Home sales have fallen for six consecutive months through July, while total inventory of unsold homes […]
BMW Group and Swedish steelmaking start-up H2 Green Steel (H2GS) have solidified their contract for CO2-reduced steel. Roughly 40% of pre-consumer steel scrap will be returned to H2GS’s electric arc furnaces (EAF) to be recycled, according to the deal. H2GS will provide green steel to the German auto manufacturer, and requires CO2 reductions and improved circularity […]
The National Association of Home Builders (NAHB) recently released the results of its Multifamily Market Survey (MMS) and there seem to be some mixed emotions. There are two separate indices the MMS utilizes to determine market conditions: the Multifamily Production Index (MPI) and the Multifamily Occupancy Index (MOI). According to NAHB, the second quarter MPI, […]
US Steel is going green. The Pittsburgh-based company has formed a non-exclusive alliance with Equinor US Holdings Inc. and Shell US Gas and Power LLC to establish a clean energy hub in the Ohio, Pennsylvania, and West Virginia tri-state area. Infrastructure projects associated with this development will generate new jobs, encourage economic growth, and contribute […]
Russel Metals disclosed a favorable end to the second quarter. The Mississauga, Ontario-based service center lauded steady demand for its results and noted a Moody’s upgrade from Ba2 to Ba1. Executives at the company discussed having a fantastic first half of 2022 and stated they are positioned very well in light of market circumstances. Russel […]
United States Trade Representative Katherine Tai addressed the 2022 United Steelworkers (USW) Constitutional Convention on Wednesday, Aug. 10. The USW Constitutional Convention is a meeting of delegates from local unions, representing steelworkers from around North America and allowing them to discuss and vote on a variety of topics. Upwards of 5,000 delegates were in attendance, according […]
As of this morning we have 1,155 total registrations for the 2022 SMU Steel Summit Conference. This is a new record, and we still have 13 days before the start of the conference on Aug. 22. You can join these executives by clicking here. We have approximately 50 rooms available at the Atlanta Airport Marriott […]
GrafTech International published strong second quarter earnings despite economic uncertainty. The Brooklyn Heights, Ohio-based graphite electrode producer reported Q2 net sales of $364 million, a 10% increase from $331 million in Q2 of 2021. Net income rose significantly from $28 million in Q2 2021 to $115 million this year. According to GrafTech’s report, the net […]
United Steelworkers Local 2251, the union representing Algoma Steel’s hourly employees, has declined to accept a revised labor offer presented by the Canadian flat-rolled steelmaker. The move comes ahead of a contract extension between Sault Ste. Marie, Ontario-based Algoma and Local 2251 expiring on Monday, Aug. 15 at 11:59 pm, both parties confirmed. The contract […]
Everguard.ai CEO Sandeep Pandya will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Sept. 21, at 11 a.m. ET. The live webinar is free. A recording will be free to SMU members. You can register here. Sandeep will explain some of the most innovative safety technology advancements —including not only […]
Pennsylvania steel distributor Mainline Metals has acquired Great South Metals, a service center located in Acworth, Ga. Mainline Metals seeks to sweeten its position as a leading nationwide provider of prime, secondary, and excess steel with the Peach State service center’s capabilities. Great South’s machinery includes a 60-inch Pro-Eco loop slitter, a 48-inch Turner loop […]
Everguard.ai CEO Sandeep Pandya will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Aug. 10, at 11 a.m. ET. The live webinar is free. A recording will be free to SMU members. You can register here. Sandeep will explain some of the most innovative safety technology advancements —including not only […]
Klöckner & Co SE is fortifying its relationship with Nucor by investing in a new plate processing facility on the campus of Nucor’s new steel mill in Brandenburg, Kentucky. Anticipated to be a state-of-the-art facility, Nucor Steel Brandenburg will house an electric arc furnace that will produce heavy plate for infrastructure projects such as wind […]
The US International Trade Commission is not afraid to air out dirty laundry. On August 3, the USITC ruled to maintain the existing antidumping duties on imports of large residential washing machines from China. The duties have been in place since 2016. Under the current order, a large residential washing machine is considered to be any […]
While the rest of us are melting from the heat of the sun, Nucor announced it will build a new melt shop at its bar mill in Kingman, Ariz. The $100 million investment will create approximately 140 new full-time jobs and have the capacity to produce around 600,000 tons a year. Construction is expected to […]
UPG Enterprises LLC announced its acquisition of Orchid Monroe LLC, a manufacturer of electrical steel laminations, electric motors and generator cores, and lamination tooling. Wisconsin-based Orchid’s additional capabilities include engineering, prototyping, tool design and building, steel slitting, high speed lamination stamping, and annealing. Jeffrey Dwyer, CEO of UPG, stated, “Today’s announcement is another step in UPG’s […]
Schnitzer Steel Industries Inc. is shaking things up. The Portland, Ore.-based recycler and steelmaker has appointed Richard Peach to serve as its executive vice president and chief strategy officer, an expanded role. Peach previously acted as the company’s executive vice president, chief financial officer, and chief strategy officer. Schnitzer has also appointed Stefano Gaggini, currently […]
O’Neal Steel recently announced a $2.6 million investment that will expand its Birmingham headquarters with a new flat laser and press brake. After working closely with the Birmingham Business Alliance, O’Neal received abatements on non-educational sales and property taxes for the manufacturing machinery. A representative for the City of Birmingham stated that O’Neal has had […]