Indicators in the Federal Reserve Bank of Philadelphia May 2014 Business Outlook Survey were positive for the third consecutive month indicting manufacturing activity continues to expand in the Third District. The general activity index dropped slightly from 16.6 in April to 15.4 in May. New orders and current shipments decreased by 4 and 9 points, […]
Manufacturing conditions improved significantly in May according to the Empire State Manufacturing Survey published by the Federal Reserve Bank of New York. The general business conditions index leapt 18 points to 19.0, up from a weak reading of 1.3 in April and at its highest level in four years. New orders and shipments rose from […]
The Canada Monthly Survey of Manufacturing, March 2014 was just released indicating a 0.4 percent improvement in manufacturing sales in March. Higher sales were seen in food, machinery and plastics & rubber, but were offset by declines in paper, petroleum and coal products. Two thirds of the manufacturing sector had increased sales in March with […]
The C-5 blast furnace at ArcelorMittal Cleveland suffered a breakout at the taphole on Thursday, May 8. A spokesperson at ArcelorMittal says there were no injuries as a result of the incident and the furnace should be fully operational by the week of May 19. In the meantime, the mill will coordinate with other ArcelorMittal […]
Shipping delays of iron ore on the Great Lakes are finally over. Ice coverage on the Great Lakes is down to 9.1 percent with the remaining ice concentrated in Lake Superior. According to satellite imagery, about 22 percent of Superior is still covered. The US Coast Guard reports there are still small fields of ice […]
The hotly contested air emission permit requested by Severstal Dearborn was approved on Monday by the Michigan Department of Environmental Quality (DEQ). The new permit does not increase the emissions levels that the plant is currently operating under but will reflect those emissions more accurately than was possible in 2007 when the previous permit was […]
ThyssenKrupp posted a positive net income for the first time in seven quarters. After aggressively shedding businesses and employees during the fiscal year, including the sale of the Alabama Calvert plant, ThyssenKrupp appears to have achieved a turnaround. The company hopes to break even for the 2013/2014 fiscal year and expects sales for the year […]
ArcelorMittal losses narrowed in the first quarter of 2014. The company posted a net loss of $200 million in the first quarter compared to $345 million in Q1 2013. First quarter EBITDA was $1.75 billion, an increase of 23 percent from Q1 2013. Sales of $19.8 billion were below Q4 and almost par with Q1 […]
The key highlight of first quarter was the Calvert acquisition, said ArcelorMittal CEO Lakshmi Mittal in the company’s first quarter earnings call. ArcelorMittal’s 50 percent ownership of AM/NS Calvert gives AM the capacity needed to supply AHSS solutions for the auto industry in the US and Mexico. ArcelorMittal has been focusing on light weight steels […]
Mark Millet, president and chief executive officer of Steel Dynamics Inc. has been named “Steelmaker of the Year” by the Association for Iron & Steel Technology (AIST). The award is presented annually to recognize notable leaders for their impact on the steel industry. Millet also received the AIST William T. Hogan SJ Lecture Award for […]
CHARLOTTE, N.C., May 9, 2014 /PRNewswire/ — Nucor Corporation announced today that Chad Utermark, Vice President and General Manager of Nucor-Yamato Steel Company, has been promoted to Executive Vice President of beam and plate products effective May 11, 2014. Joe Stratman, who has served as Executive Vice President of beam and plate products since 2007, will […]
Building permit values in Canada decreased for the second consecutive month, falling 3 percent in March after an 11.3 percent decrease in February. Value of building permits totaled $6 billion. The decrease in building permit values surprised economists at Royal Bank of Canada who expected a 4 percent rebound in March. A plunge in non-residential sector permits […]
John Correnti let loose strong criticism of the latest attempt by Nucor Steel to delay the Big River Steel project. Nucor attorney David Taggart told Osceola City council members on Tuesday that the company intends to file a lawsuit in federal court against Big River Steel under the Clean Air Act, according to a report […]
ArcelorMittal’s Canadian iron ore project may begin production as early as third quarter 2014. Last week the Minister of Aboriginal Affairs and Northern Development gave final approval for Baffinland Iron Mines, a 50/50 venture between ArcelorMittal and Nunavut Iron Ore, to commence operations. The mine is located in the Qikiqtani region of Nunavit, over 300 […]
Iron ore smuggling has become a concern of the Mexican government with the diversification of the Knights Templar drug cartel into mining operations in the western state of Michoacán. Mexican authorities have seized nearly 200,000 tons of illegally mined and shipped iron ore headed for China so far this year. Last week a ship was […]
More than 200 Ohio steel workers and supporters gathered at a rally outside US Steel Lorain Tubular Operations on May 5 to urge the federal government to protect the Northeast Ohio steel industry from unfair foreign competition. “Northeast Ohio’s steelmakers and workers can compete against anyone in the world—when given access to a level playing […]
Truck transportation, the price and availability of it, has been a concern of the steel industry of late, especially after the delays that occurred during the unusually severe winter season. To determine what is affecting truck shipping, we looked at the issues currently facing the truck transportation industry. Hours of service is the issue ranked […]
Nine workers were injured on Monday when a roof collapsed at the former Bethlehem Steel (RG Steel) plant in Sparrows Point. The plant is in the process of being dismantled by Hilco Global and demolition contractor MCM Management Corp. The roof caved in around 10 am as workers were tearing down the building. Fire department […]
The $156 million judgment against Nucor, Reliance Steel & Aluminum, American Alloy Steel and JSW Steel (USA) will be delayed two weeks while the defendants file a motion for a new trial in the anti-trust lawsuit brought by MM Steel LLC. Last week US District Judge Kenneth Hoyt ruled that a $52 million jury verdict […]
Steel buyers in the April Institute for Supply Management (ISM) Steel Buyers Survey are expecting general economic activity to remain the same for the next six months. Higher orders are anticipated during the next three months but current order levels are still weaker than buyers would like. Right now at present production rates and with […]
A week-long strike was ended Sunday when steelworkers and Allied Tube and Conduit reached an agreement on a new contract. USW Local 9777, who have worked without a contract for the past year, accepted the new contract after Allied Tube and Conduit agreed to drop plans to freeze pensions, dictate which jobs employees work, and […]
Allied Tube & Conduit and members of USW Local 9777 reached an agreement on a new contract on Sunday, ending a week-long strike. The contract for USW Local 9777 expired in April 2013 and the company and union officials have been in negotiations for the past year. A compromise over the weekend led to contract […]
The JP Morgan Global PMI was at a six-month low in April but indicated manufacturing remains in the expansion range. At 51.9 the score reflected weaker production and new orders. The PMI was negatively affected by the downturn in production and new business that followed an increase in sales tax in Japan. The US and […]
Mike Rippey, president and CEO of ArcelorMittal USA, has been elected Chairman of the American Iron and Steel Institute (AISI). Rippey will serve as chairman until May 2015, leading advocacy efforts on behalf of AISI and the industry to advance pro-manufacturing polices that will enhance the competitiveness of the North American steel industry. “Mike’s been a strong […]
Gibraltar Industries, a leading manufacturer and distributor of building products, reported a net loss of $1.7 million for first quarter 201. Net sales of $191.0 slipped from $196.8 million in first quarter 2013 due to severe winter conditions. “Although Gibraltar’s first-quarter sales were lower than expected due to the prolonged winter season in most parts […]
Damages in an anti-trust lawsuit against Nucor Corp, Reliance Steel & Aluminum, American Alloy Steel, JSW Steel and one individual defendant have been tripled to a final judgment of $156 million. US District Judge Kenneth Hoyt granted MM Steel LP’s motion to treble the $52 million jury verdict, rejecting motions by the defendants to delay […]
Economic data released in April indicated signs of slower growth in the economy. Survey participants, however, continue to be optimistic about business activity during the next three to six months. The Architecture Billings Index fell to 48.8 in April, indicating contraction after hovering just above the neutral point for the last two months. The protracted […]
April was a month of disappointing economic indicators. The Architecture Billings Index turned negative this month after climbing up from a reading of 48.6 in December. The March reading was just 48.8, down from 50.7 in February and 50.4 in January. The American Institute of Architects Architecture Billings Index, an indicator of future construction activity, […]
Will 2014 be a breakthrough year for construction? That was the premise of a webinar presented by Reed Construction Data paneled by Bernie Markstein, US chief economist at Reed Construction Data; Kermit Baker, chief economist at the American Institute of Architects (AIA); and Ken Simonson, chief economist at Associated General Contractors of America (AGC). The […]
From the Associated General Contractors of America (AGC): Total construction spending remained in a holding pattern in March as strong gains in apartment construction and modest growth in home building and private nonresidential activity offset falling public outlays, according to an analysis of new Census Bureau data by the Associated General Contractors of America (AGC). […]