Ethan Bernard

3 days ago | steelmarketupdate.com | Ethan Bernard

Mexican steel trade group Canacero has condemned the US’ actions of doubling tariffs on steel and aluminum to 50%. “Canacero regrets and rejects the unjustified decision of the United States government to impose and increase tariffs on steel imports from Mexico,” the group said in a press release in Spanish on Tuesday.

4 days ago | steelmarketupdate.com | Ethan Bernard |Stephanie Ritenbaugh

Carney outlined a plan on Monday to make it easier to build out infrastructure, like pipelines, nuclear reactors, and trade corridors, and create a framework in which the projects would be approved in under two years’ time, according to the BBC. Carney said the goal is to quickly build infrastructure that will make Canada “the strongest economy in the G7,” as well as strengthen the country’s autonomy and resilience in the future, the BBC reported.

5 days ago | steelmarketupdate.com | Ethan Bernard

The American Iron and Steel Institute (AISI) has named four new members to its board of directors. The board has elected Clive Grannum, CEO of North American Stainless; Rick Marabito, CEO of Olympic Steel; Guillermo “Willy” Moreno, president, USA, of Tenaris; and Barry Zekelman, executive chairman and CEO of Zekelman Industries.

1 week ago | steelmarketupdate.com | Ethan Bernard

SunCoke, a raw material processing and handling company, noted it will fund the transaction with existing cash and availability under its undrawn revolving credit facility. Additionally, SunCoke said the Phoenix buy will allow it to diversify into electric arc furnace operations, including carbon steel and stainless steel mills. And Phoenix’s global footprint will add international markets to SunCoke’s portfolio.

1 week ago | steelmarketupdate.com | Ethan Bernard

This would give the US government  “special rights to block certain actions by Nippon Steel such as slashing production capacity,” the article said. Sen. Dave McCormick(R-Pa.) told CNBC on Tuesday the government would also have a say over the selection of some of the company’s board members, according to an article in The Hill. Recall that President Trump gave the OK for a “partnership” between U.S. Steel and Nippon late Friday afternoon. However, the details of the deal have yet to be revealed.