After enduring one of the worst downturns ever, American steelmakers and the subsequent American metal recycling industry is thanking the U.S. Department of Commerce (DOC) for imposing preliminary duties on imports of cold-rolled steel, used to make auto parts, appliances and shipping containers.
Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported that the U.S. imported a total of 2,456,000 net tons (NT) of steel in April 2016, including 2,014,000 NT of finished steel (down 5.6 percent and 4.1 percent, respectively, vs. March final data).
The U.S. Environmental Protection Agency (EPA) and U.S. Department of Justice (DOJ) disclosed a settlement that requires Parkway Iron and Metal Co. to pay $145,000 and spend approximately $260,000 to install pollution controls for alleged Clean Air Act violations at its scrap metal recycling business in Clifton, New Jersey.
Nucor Corporation’s Vulcraft/Verco Group is expanding into Canada. The new production facility will operate as Vulcraft Canada, Inc., and will be located near Hamilton, Ontario to serve the Central and Eastern Canadian markets.
Novelis reported net income of $29 million for the fourth quarter of fiscal year 2016. Excluding tax effected special items, the company reported net income of $50 million in the fourth quarter of fiscal 2016, a 35 percent increase over the prior year period.