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1 week ago | 
steelmarketupdate.com | Ethan Bernard
The annealing line utilizes a 100% hydrogen atmosphere instead of conventional acid-based processing. It also includes a hydrogen recovery unit to recycle hydrogen and uses a 50/50 mix of new and used hydrogen. The Cleveland-based steelmaker said a ribbon cutting ceremony will be held on Wed., July 2, at Coshocton Works.
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1 week ago | 
steelmarketupdate.com | Ethan Bernard
The Canadian Steel Producers Association (CSPA) and the United Steelworkers (USW) union in Canada have said they were disappointed by the country’s Prime Minister Mark Carney’s remarks regarding steel and aluminum tariffs on Thursday. “Our initial reaction to the Government of Canada’s plan … is that it falls short of what our industry needs at this most challenging time,” the two groups said in a joint statement.
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1 week ago | 
steelmarketupdate.com | Ethan Bernard
I sat down with Flack on Monday to discuss the hot-button issues we’re all witnessing and experiencing.
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1 week ago | 
steelmarketupdate.com | Ethan Bernard
Nippon Steel, with its wholly owned subsidiary Nippon Steel North America, and Pittsburgh-based U.S. Steel have finalized their “partnership,” which includes a “Golden Share” for the US government. The transaction was first announced in December 2023, and has faced a number of regulatory hurdles, as well as opposition from both Presidents Biden and Trump, and the United Steelworkers (USW) union, among others.
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1 week ago | 
steelmarketupdate.com | Ethan Bernard
Scrap Management Industries (SMI) has purchased two recycling facilities in Kansas. The Kansas City-based metal recycler has acquired 12th & Haskell Recycle Center in Lawrence, Kan., and East Wilson Recycle in Ottawa, Kan. Financial terms of the deal were not released. The facilities will operate under the new name Scrap Management Industries – Lawrence and Scrap Management Industries – Ottawa.
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2 weeks ago | 
steelmarketupdate.com | Ethan Bernard
The company said in a statement the change symbolizes “its transformation into a modern, solutions-driven infrastructure provider with a national footprint.”“The new name reflects the company’s expanded capabilities in precast and engineered systems and a broader, more diversified product offering,” NWPX said.
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2 weeks ago | 
steelmarketupdate.com | Ethan Bernard
An unnamed executive from Nippon Steel has fired back following President Trump’s talk of a “golden share” on Thursday, according to a Japanese media report. “Without a degree of management freedom, it may not be possible to reach an agreement with the US government,” the executive told Japan’s Nikkei Asia in an article on Friday. This comes after President Trump said on Thursday the US government would hold a 51% stake in Pittsburgh-based U.S. Steel after the deal with Nippon.
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2 weeks ago | 
steelmarketupdate.com | Ethan Bernard
Friedman Industries’ earnings increased in its fiscal fourth quarter, though sales slipped. The Longview, Texas-based steel processor reported net earnings of $5.3 million in its fiscal Q4’25 ended March 31, up 8% from $5.0 million a year earlier. However, sales dropped 2% to $129.2 million. “We ended fiscal 2025 with improved margins and a record quarter for sales volume as we continue to execute on our growth strategy,” Michael J. Taylor, president and CEO, said in a statement on Thursday.
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2 weeks ago | 
steelmarketupdate.com | Ethan Bernard
The president labeled Nippon a “great company” but didn’t provide any further specifics on the deal. This comes after news late last month that Trump approved a Nippon-USS “partnership” without revealing concrete details of the deal. It was reported soon after that the government would have a “golden share.”SMU reported earlier this week that there has been little news from the three parties regarding the deal since a rally was held by the president in Pennsylvania on May 30.
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2 weeks ago | 
steelmarketupdate.com | Ethan Bernard
Facilities in Michigan, Kansas, and Tennessee will expand their finished vehicle production of several of the automaker’s most popular vehicles, GM said. “We believe the future of transportation will be driven by American innovation and manufacturing expertise,” GM Chair and CEO Mary Barra said in a statement.
