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Released March 21, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Growing opportunities for construction, infrastructure and housing business are good signs for Commercial Metals Company (NYSE:CMC) (CMC) (Irving, Texas), which is pointing to strong prices for domestic scrap metal and moderating imports of rebar as reasons for near-term optimism. Executives expressed confidence in the long-term fundamentals of the U.S. construction market, following a spate of weak steel-product prices. Industrial Info is tracking nearly $900 million worth of active and planned projects across the U.S. from Commercial Metals, the bulk of which is attributed to steel mill projects in Alabama and West Virginia.
Click on the image at right for a graph detailing active and planned projects from CMC, by project type.
"We are encouraged by recent developments across the various markets in which we participate," said Peter Matt, the chief executive officer of CMC, in a quarterly earnings-related press release. "Margin and demand trends appear to be improving, which should position us well for the upcoming spring and summer construction season. Additionally, conversations with customers continue to indicate optimism about the coming quarters."
CMC expects to finish construction toward the end of this year on its new, $450 million steel micro mill in Martinsburg, West Virginia, which is designed to produce 500,000 tons per year of merchant-bar quality (MBQ) rebar via a continuous-production process that the company says will reduce its manufacturing cost. The facility is expected to cater to the Northeastern, Mid-Atlantic and Midwestern U.S. construction market. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can learn more from a detailed project report and plant profile.
Improvements at existing facilities include the proposed addition of an electric arc furnace at its steel rebar mill in Birmingham, Alabama. The 100-ton unit would replace an obsolete, 86-ton, direct-current (DC) furnace, which is being removed as part of a proposed demolition program. CMC says its electric arc furnace technology keeps its carbon emissions 63% below the global steelmaking industry's average. Subscribers can learn more from detailed reports on the proposed furnace addition and removal, and from a detailed plant profile.
This month, CMC is beginning work on a pair of upgrade projects at its two micromills in Mesa, Arizona, which are expected to run through the end of the year: a $20 million program at AZ 1 and a $10 million program at AZ 2, both of which use continuous casting-rolling technology provided by Danieli Group (Buttrio, Italy). Each Mesa facility produces 350,000 tons per year of rebar and 150,000 tons per year of smaller MBQ products. Subscribers can read detailed reports on the AZ 1 and AZ 2 projects.
In addition to the abovementioned projects, CMC is scheduled to perform 11 relines, repairs and rebuilds, each valued at about $1 million, throughout 2025 on furnaces at its mills and minimills across Arizona, Arkansas, Tennessee and South Carolina. Subscribers can click here for a list of detailed project reports.
CMC's net sales for its recently ended fiscal second quarter were reported to be $1.75 billion, compared with $3.85 billion in the same period in 2024. Net earnings stood at $25.47 million, compared with $262.12 million in fiscal second-quarter 2024. CMC attributed much of this decline to steel prices, but noted in its quarterly earnings report that steel market conditions improved throughout the quarter from a low point in December 2024.
"Domestic scrap pricing rose in both January and February prompting price increases for each of CMC's primary steel products," the company said. "Downstream backlog volumes increased by nearly 10% relative to the end of the first fiscal quarter and were stable on a year-over-year basis. New contract awards improved during the second quarter and ended the period at the second highest volume since late fiscal 2022."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from CMC.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing active and planned projects from CMC, by project type."We are encouraged by recent developments across the various markets in which we participate," said Peter Matt, the chief executive officer of CMC, in a quarterly earnings-related press release. "Margin and demand trends appear to be improving, which should position us well for the upcoming spring and summer construction season. Additionally, conversations with customers continue to indicate optimism about the coming quarters."
CMC expects to finish construction toward the end of this year on its new, $450 million steel micro mill in Martinsburg, West Virginia, which is designed to produce 500,000 tons per year of merchant-bar quality (MBQ) rebar via a continuous-production process that the company says will reduce its manufacturing cost. The facility is expected to cater to the Northeastern, Mid-Atlantic and Midwestern U.S. construction market. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can learn more from a detailed project report and plant profile.
Improvements at existing facilities include the proposed addition of an electric arc furnace at its steel rebar mill in Birmingham, Alabama. The 100-ton unit would replace an obsolete, 86-ton, direct-current (DC) furnace, which is being removed as part of a proposed demolition program. CMC says its electric arc furnace technology keeps its carbon emissions 63% below the global steelmaking industry's average. Subscribers can learn more from detailed reports on the proposed furnace addition and removal, and from a detailed plant profile.
This month, CMC is beginning work on a pair of upgrade projects at its two micromills in Mesa, Arizona, which are expected to run through the end of the year: a $20 million program at AZ 1 and a $10 million program at AZ 2, both of which use continuous casting-rolling technology provided by Danieli Group (Buttrio, Italy). Each Mesa facility produces 350,000 tons per year of rebar and 150,000 tons per year of smaller MBQ products. Subscribers can read detailed reports on the AZ 1 and AZ 2 projects.
In addition to the abovementioned projects, CMC is scheduled to perform 11 relines, repairs and rebuilds, each valued at about $1 million, throughout 2025 on furnaces at its mills and minimills across Arizona, Arkansas, Tennessee and South Carolina. Subscribers can click here for a list of detailed project reports.
CMC's net sales for its recently ended fiscal second quarter were reported to be $1.75 billion, compared with $3.85 billion in the same period in 2024. Net earnings stood at $25.47 million, compared with $262.12 million in fiscal second-quarter 2024. CMC attributed much of this decline to steel prices, but noted in its quarterly earnings report that steel market conditions improved throughout the quarter from a low point in December 2024.
"Domestic scrap pricing rose in both January and February prompting price increases for each of CMC's primary steel products," the company said. "Downstream backlog volumes increased by nearly 10% relative to the end of the first fiscal quarter and were stable on a year-over-year basis. New contract awards improved during the second quarter and ended the period at the second highest volume since late fiscal 2022."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from CMC.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
