The United Steelworkers (USW) told their union members at 16 steel facilities that the U.S. Department of Commerce (USDOC) made the right call on a final determination issued late Friday for duties on hot-rolled steel imports from seven countries.
The board of directors of The Timken Company, a global leader in bearings, declared a quarterly cash dividend of $.26 per share. The dividend is payable on September 2, 2016, to shareholders of record as of August 15, 2016.
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,786,000 net tons (NT) of steel in May 2016, including 2,077,000 NT of finished steel (up 12.2 percent and 1.8 percent, respectively, vs. April final data).
Nucor Corporation has agreed to acquire Joy Global’s steel plate mill in Longview, Texas, for approximately $29 million. The mill produces carbon and alloy plate products with heat-treating capabilities and has an annual capacity of 180,000 tons.
Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported that steel import permit applications for the month of June total 2,907,000 net tons (NT).