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Project(s): View 10 related projects in PECWeb
Plant(s): View 9 related plants in PECWeb
Released January 23, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The domestic Metals & Minerals Industry is facing a challenging 2023, particularly in the steel-manufacturing sector. Amid falling prices and increasing imports, steel mills in the U.S. are working at less than 80% capacity, an indication of financial stress, according to the American Iron and Steel Institute. Existing production facilities will need to remain in the best working conditions to keep the industry in shape. Industrial Info is tracking more than 530 maintenance-related projects in the U.S. Metals & Minerals Industry that are set to kick off in first-quarter 2023, totaling nearly $1 billion in value. Steel-manufacturing facilities account for more than $300 million worth, the most of any sector.
Click on the image at right for a graph detailing first-quarter maintenance projects in the U.S Metals & Minerals Industry, by industry sector.
Cleveland-Cliffs Incorporated (NYSE:CLF) (Cleveland, Ohio), which is the largest steel supplier for the U.S. automotive market, accounts for more maintenance-related spending than any other single parent company. The bulk of its spending is at its steel-manufacturing facilities, many of which are preparing for a sporadic series of shutdowns spanning the full year. These include Cleveland-Cliffs' steel works plants in:
"Compared to 2021, our 2022 costs have been up meaningfully due to inflationary pressures on input and energy costs, as well as lower production volume and higher repair and maintenance spending," said Celso Goncalves, the chief financial officer of Cleveland-Cliffs, in a recent quarterly earnings-related conference call. "With all big repairs behind us, our repair and maintenance expenses have begun to decline rapidly here in the fourth quarter." Another executive added that the company is "now at the point where the major maintenance cycle has been concluded."
Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina), which accounts for about 80% of the spending related to non-maintenance steel-manufacturing projects that are set to kick off in the first quarter, trails only Cleveland-Cliffs in its total investment value in first-quarter maintenance kickoffs. Its affected facilities manufacture products such as steel bars, plates and coils, with sporadic shutdowns set to run into the late third quarter or early fourth quarter.
Nucor's 1.1 million-ton-per-year steel bar minimill in Plymouth, Utah, is preparing for a series of shutdowns running through the third quarter, as is Nucor's 1.75 million-ton-per-year steel plate mill in Cofield, North Carolina, 1.2 million-ton-per-year steel coil and plate mill in Tuscaloosa, Alabama, and 850,000-ton-per-year steel bar mill in Memphis, Tennessee. Subscribers to Industrial Info's GMI database can read detailed reports on the Utah, North Carolina, Alabama and Tennessee projects.
For more information on first-quarter capital-spending plans from Nucor and other steel manufacturers, see December 30, 2022, article - Nucor Leads U.S. Steel-Manufacturing Kickoffs in First Quarter.
United States Steel Corporation (U.S. Steel) (NYSE:X) (Pittsburgh, Pennsylvania) also is preparing to invest heavily in maintenance projects starting this quarter, including two projects at its Steel Works plant in Gary, Indiana. The company is performing normal inspections and repairs to its steel-making and iron-making units, each of which have a 7.5 million-ton-per-year capacity. Shutdowns are expected at varying intervals, well into the fourth quarter. Subscribers can read detailed reports on the steel-making and iron-making projects.
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 2023.
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 first-quarter maintenance projects in the U.S Metals & Minerals Industry, by industry sector.Cleveland-Cliffs Incorporated (NYSE:CLF) (Cleveland, Ohio), which is the largest steel supplier for the U.S. automotive market, accounts for more maintenance-related spending than any other single parent company. The bulk of its spending is at its steel-manufacturing facilities, many of which are preparing for a sporadic series of shutdowns spanning the full year. These include Cleveland-Cliffs' steel works plants in:
- Burns Harbor, Indiana, which produces 5 million tons per year; see project report
- East Chicago, Indiana, which produces 3.6 million tons per year; see project report
- Dearborn, Michigan, which produces 3.7 million tons per year; see project report
- Middletown, Ohio, which produces 2.7 million tons per year; see project report
"Compared to 2021, our 2022 costs have been up meaningfully due to inflationary pressures on input and energy costs, as well as lower production volume and higher repair and maintenance spending," said Celso Goncalves, the chief financial officer of Cleveland-Cliffs, in a recent quarterly earnings-related conference call. "With all big repairs behind us, our repair and maintenance expenses have begun to decline rapidly here in the fourth quarter." Another executive added that the company is "now at the point where the major maintenance cycle has been concluded."
Nucor Corporation (NYSE:NUE) (Charlotte, North Carolina), which accounts for about 80% of the spending related to non-maintenance steel-manufacturing projects that are set to kick off in the first quarter, trails only Cleveland-Cliffs in its total investment value in first-quarter maintenance kickoffs. Its affected facilities manufacture products such as steel bars, plates and coils, with sporadic shutdowns set to run into the late third quarter or early fourth quarter.
Nucor's 1.1 million-ton-per-year steel bar minimill in Plymouth, Utah, is preparing for a series of shutdowns running through the third quarter, as is Nucor's 1.75 million-ton-per-year steel plate mill in Cofield, North Carolina, 1.2 million-ton-per-year steel coil and plate mill in Tuscaloosa, Alabama, and 850,000-ton-per-year steel bar mill in Memphis, Tennessee. Subscribers to Industrial Info's GMI database can read detailed reports on the Utah, North Carolina, Alabama and Tennessee projects.
For more information on first-quarter capital-spending plans from Nucor and other steel manufacturers, see December 30, 2022, article - Nucor Leads U.S. Steel-Manufacturing Kickoffs in First Quarter.
United States Steel Corporation (U.S. Steel) (NYSE:X) (Pittsburgh, Pennsylvania) also is preparing to invest heavily in maintenance projects starting this quarter, including two projects at its Steel Works plant in Gary, Indiana. The company is performing normal inspections and repairs to its steel-making and iron-making units, each of which have a 7.5 million-ton-per-year capacity. Shutdowns are expected at varying intervals, well into the fourth quarter. Subscribers can read detailed reports on the steel-making and iron-making projects.
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 2023.
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).
