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Released December 11, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. steel-manufacturing sector is awash in drama, as one of its top players is heavily rumored to be up for sale. But when it comes to regularly scheduled maintenance, companies are sticking to the old British adage: "Keep calm and carry on." Industrial Info is tracking more than 75 maintenance-related projects set to kick off at U.S. steel mills in the first quarter, with Cleveland-Cliffs Incorporated (NYSE:CLF) (Cleveland, Ohio), Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina), and United States Steel Corporation (NYSE:X) (U.S. Steel) (Pittsburgh, Pennsylvania) together accounting for more than half of the total investment value.
Click on the image at right for a graph detailing the top 10 parent companies for U.S. maintenance-related projects at steel mills from January through March, by total investment value.
Speculation has surrounded a possible merger between two of these top three: Earlier this year, Cleveland-Cliffs proposed an acquisition of U.S. Steel, which the 122-year-old company initially rejected. But Lourenco Goncalves, the famously pugnacious chief executive officer of Cleveland-Cliffs, hasn't let up on the pressure. In late October, Goncalves said his company had entered into agreements that restricted what it could disclose to the public. For more information, see October 30, 2023, article - U.S. Steel Reviews Acquisition Offers Amid Planned Capex Reduction.
In the nearer term, Cleveland-Cliffs leads all other U.S. steelmakers in first-quarter maintenance, with projects planned throughout the Steel Belt. The company is preparing for yearlong maintenance programs at its steel works plants in Dearborn, Michigan, which produces 3.7 million tons per year of hot-rolled steel and 2.1 million tons per year cold-rolled steel, among other products; Middletown, Ohio, which produces 2.1 million tons per year of hot and cold-rolled steel; Burns Harbor, Indiana, which produces 5 million tons per year; and Weirton, West Virginia, which produces 2.8 million tons per year.
Cleveland-Cliffs' scheduled shutdowns run from eight to 36 hours, at differing intervals throughout the year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can find more details in Industrial Info's reports on the Dearborn, Middletown, Burns Harbor and Weirton.
A recent report from CNBC indicates Cleveland-Cliffs may have as many as four rivals for U.S. Steel's hand in marriage. U.S. Steel already had said in August it had entered into confidentiality agreements with "numerous" bidders. Nucor is widely believed to be among them, following its acquisition earlier this year of the steelmaking assets of Corus Tuscaloosa, which had been a subsidiary of Corus Group (London, England). Nucor's own 1.2 million-ton-per-year steel plate mill in Tuscaloosa, Alabama, is preparing for a series of shutdowns scheduled to run from March through October. Subscribers can learn more details from Industrial Info's project report.
U.S. Steel is preparing for several maintenance projects of its own, including two at one of its largest facilities, the steel works plant in Gary, Indiana. The company is preparing for sporadic shutdowns through October at its 7.5 million-ton-per-year steel-manufacturing plant, as well as one-day shutdowns every nine weeks through December at its iron-making plant. Other high-value maintenance projects from U.S. Steel include a two-week shutdown, beginning in March, at its steel and pipe mill in Fairfield, Alabama, which produces 1.6 million tons per year of steel and 720,000 tons per year of steel pipe.
In its most recent quarterly earnings-related conference call, U.S. Steel's executives downplayed questions surrounding any acquisition and focused on recent operational performance "We have a unique and diverse end-market exposure through our product portfolio," said Kevin Lewis, the vice president of finance for U.S. Steel. "So, we benefited from an increase in inquiries and order activity through line-pipe and energy markets." Subscribers can read detailed reports on the steel-manufacturing and iron-making plants in Gary, and its steel and pipe mill in Fairfield.
Subscribers to Industrial Info's GMI Project Database 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 reports for steel-manufacturing maintenance projects that are set to kick off across the U.S. in first-quarter 2024.
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 the top 10 parent companies for U.S. maintenance-related projects at steel mills from January through March, by total investment value.Speculation has surrounded a possible merger between two of these top three: Earlier this year, Cleveland-Cliffs proposed an acquisition of U.S. Steel, which the 122-year-old company initially rejected. But Lourenco Goncalves, the famously pugnacious chief executive officer of Cleveland-Cliffs, hasn't let up on the pressure. In late October, Goncalves said his company had entered into agreements that restricted what it could disclose to the public. For more information, see October 30, 2023, article - U.S. Steel Reviews Acquisition Offers Amid Planned Capex Reduction.
In the nearer term, Cleveland-Cliffs leads all other U.S. steelmakers in first-quarter maintenance, with projects planned throughout the Steel Belt. The company is preparing for yearlong maintenance programs at its steel works plants in Dearborn, Michigan, which produces 3.7 million tons per year of hot-rolled steel and 2.1 million tons per year cold-rolled steel, among other products; Middletown, Ohio, which produces 2.1 million tons per year of hot and cold-rolled steel; Burns Harbor, Indiana, which produces 5 million tons per year; and Weirton, West Virginia, which produces 2.8 million tons per year.
Cleveland-Cliffs' scheduled shutdowns run from eight to 36 hours, at differing intervals throughout the year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can find more details in Industrial Info's reports on the Dearborn, Middletown, Burns Harbor and Weirton.
A recent report from CNBC indicates Cleveland-Cliffs may have as many as four rivals for U.S. Steel's hand in marriage. U.S. Steel already had said in August it had entered into confidentiality agreements with "numerous" bidders. Nucor is widely believed to be among them, following its acquisition earlier this year of the steelmaking assets of Corus Tuscaloosa, which had been a subsidiary of Corus Group (London, England). Nucor's own 1.2 million-ton-per-year steel plate mill in Tuscaloosa, Alabama, is preparing for a series of shutdowns scheduled to run from March through October. Subscribers can learn more details from Industrial Info's project report.
U.S. Steel is preparing for several maintenance projects of its own, including two at one of its largest facilities, the steel works plant in Gary, Indiana. The company is preparing for sporadic shutdowns through October at its 7.5 million-ton-per-year steel-manufacturing plant, as well as one-day shutdowns every nine weeks through December at its iron-making plant. Other high-value maintenance projects from U.S. Steel include a two-week shutdown, beginning in March, at its steel and pipe mill in Fairfield, Alabama, which produces 1.6 million tons per year of steel and 720,000 tons per year of steel pipe.
In its most recent quarterly earnings-related conference call, U.S. Steel's executives downplayed questions surrounding any acquisition and focused on recent operational performance "We have a unique and diverse end-market exposure through our product portfolio," said Kevin Lewis, the vice president of finance for U.S. Steel. "So, we benefited from an increase in inquiries and order activity through line-pipe and energy markets." Subscribers can read detailed reports on the steel-manufacturing and iron-making plants in Gary, and its steel and pipe mill in Fairfield.
Subscribers to Industrial Info's GMI Project Database 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 reports for steel-manufacturing maintenance projects that are set to kick off across the U.S. in first-quarter 2024.
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).
