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You can unsubscribe from these updates at any time. We manage your personal data in accordance with our privacy policy.US steelmaker Nucor plans to add steel grating production capabilities at its downstream Vulcraft facility in St Joe, Indiana, broadening its product offerings.
The $59mn project marks Nucor's fourth major investment in Indiana in recent years.
Vulcraft makes open-web steel joists, joist girders and steel decking, which are used mainly in non-residential construction.
The plant has about 1.2mn short tons of annual joist and deck production capacity.
Houston, 13 August (Argus) — High-pressure aluminum die-caster 2A USA plans to increase production capacity through a $32mn expansion at its manufacturing facility in Auburn, Alabama. The project will add casting and machining capabilities for "complex and large aluminum components" used in heavy-duty trucks, Alabama governor Kay Ivey said on Wednesday. Neither a construction timeline nor details about how much output would grow were disclosed. 2A USA's plans come as the US has sought to increase domestic manufacturing through trade policies, which have included global import tariffs on both aluminum products and heavy-duty trucks . The White House currently is seeking to tighten minimum US-origin content requirements for products covered under the US-Mexico-Canada free trade agreement, as part of its efforts to renegotiate the pact. The company, which is the North American segment of Italy-based 2A, acquired the Auburn facility in 2014 and has continually invested in its operations there, including a $15mn expansion in 2019. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Montevideo, 13 August (Argus) — Argentina's annual inflation continued to increase in July, hitting 33.8pc, another high for the year and more than three times the government target. The consumer price index (CPI) rose by 33.5pc in June from a year earlier, up from 33.2pc in May, the statistics agency Indec reported. The latest figure was down from 36.6pc in July 2025. Leading the annualized increase was housing/utility, up 48.9pc, while transportation prices were up 40.9pc, education 40pc and entertainment, 36.7pc. Food/beverages increased by 34.5pc. All the leading categories were up compared to the previous month. On a monthly basis, CPI rose by 2.1pc in June, up from 1.9pc and matching the 2.1pc May rate. It peaked at 3.4pc in March for the year. President Javier Milei's administration forecasts inflation at 10pc for the year, while the International Monetary Fund (IMF) forecasts inflation at 30.4pc this year. -By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
London, 13 August (Argus) — German steelmaker Thyssenkrupp is moderately positive about the outlook for global steel demand in 2026, although demand will depend on geopolitical tensions, energy prices and the performance of steel-consuming industries, the company said. Thyssenkrupp's forecast does not yet reflect the potential impact of new EU steel safeguard measures that took effect on 1 July. Global steel demand is expected to increase by 0.7pc on the year in 2026, despite a contraction in consumption in China, as demand is set to strengthen in the EU and the US. In the automotive sector, Thyssenkrupp expects output to continue declining. "At present, a year-on-year decline in production volumes is expected for the full fiscal year 2025-26. The main drivers are oil price trends in combination with temporary shipping restrictions in the strait of Hormuz, as well as weaker conditions in the Chinese market," the company said. By contrast, Thyssenkrupp expects machinery sales to increase by 1.7pc, supported by positive production trends in the EU, China and the US last year. Thyssenkrupp Steel Europe continues to reduce its cost base, cutting its workforce by 3pc year on year to 25,078 by the end of June, while reducing its investments by 42pc to €265mn ($305mn) in the first nine months of the 2025-26 fiscal year. Its investments were lower than a year earlier partly because funding received for its direct reduction (DR) plant resulted in a net negative investment. Construction of the plant's DR tower continues, while pre-assembly of the site's two smelters is nearly complete. "Intensive preparations are currently being made for the modernisation of continuous caster 3 in Duisburg, scheduled to start in the fourth quarter of fiscal year 2025-26," the company said. Thyssenkrupp Steel Europe's order intake rose above year-earlier levels in the latest reporting period, supported by higher orders from industrial and trading customers and stable orders in the automotive sector. Sales remained below year-earlier levels, reflecting the persistently weak macroeconomic environment. The division's adjusted earnings strengthened despite lower revenue, supported by a hiring freeze, restructuring measures, efficiency gains in production and logistics, and lower raw material costs. These factors more than offset weaker sales, Thyssenkrupp said. Thyssenkrupp completed the transfer of its 50pc stake in Huttenwerke Krupp Mannesmann (HKM) to German steelmaker Salzgitter on 9 July, for a symbolic price of €1. The former shareholders will inject fresh equity into HKM, with Thyssenkrupp Steel's contribution expected to be in the low-to-mid three-digit million-euro range. As a result of the HKM transaction, Thyssenkrupp expects an additional disposal loss in the low three-digit million-euro range in the fourth quarter of its 2025-26 fiscal year. Thyssenkrupp Steel Europe remained profitable in the third quarter and over the first nine months of the 2025-26 fiscal year, although its nine-month earnings before interest and taxes (Ebit) fell to €80mn from €251mn a year earlier. The firm's third-quarter Ebit rose to €185mn from €64mn, supported by restructuring measures and lower raw material costs. By Andrey Telegin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Houston, 13 August (Argus) — US oil and gas drilling companies and rig owners have boosted their demand outlooks because of the global crude oil supply shock from the US-Iran war. US drilling contractors and oil country tubular goods (OCTG) producers now anticipate higher oil prices and increased oil and gas drilling to raise US demand in the second half of 2026, a far cry from declining rig counts and lower oil prices at the start of the year. Pipe and tube companies are bullish as crude oil prices bolstered by the war in the Middle East raise US drilling activity. The Argus West Texas Intermediate (WTI) fob Houston assessment stood at $84.82/bl on 11 August, up from $68.19/bl at the end of February and before the onset of the war. Rig contractors raise estimates Publicly traded drilling rig contractors have seen the greatest shift, as they now expect a second quarterly rig count increase. Drilling rig contractor Helmerich & Payne (H&P)'s shifting outlook reflects the war-fueled reversal of fortune in the industry. At the end of 2025, H&P lowered its rig count estimates for the first quarter because of lower oil prices and drilling activity. "Going into [2026], things felt relatively bearish, but I do think it's quite a different story right now," H&P chief financial office Todd Scruggs said. "We think this [third quarter] is a pretty good marker for where we're going to be in [2027], we actually think we will be improving from this base." But the stronger outlook remains contingent on oil prices staying elevated and the conflict not widening into a disruption that undercuts economic growth or drilling budgets. At the end of the first quarter, H&P and fellow drilling rig contractors Nabors and Patterson-UTI guided for the second quarter an average of 294-301 active US drilling rigs between them. The rig operators surpassed that outlook and exited the second quarter with an estimated 316 active drilling rigs in the US, which the companies expect to grow to an approximate 324 active rigs by the end of the third quarter. US private and independent oil and gas exploration and production (E&P) companies drove higher drilling rig demand as they capitalized on higher crude oil prices, gains that are expected to continue in the back half of the year. The US weekly active drilling rig count has held at 588 since mid July, the highest level since April 2025 and up from 539 a year earlier, according to oilfield services company Baker Hughes. Pipe producers expect US volumes to grow As more US drilling rigs activate, OCTG producers are working to take advantage of greater demand, import constraints and tight inventories. Higher US drilling activity and lower import volumes raised Vallourec's second quarter US tubular mill production and OCTG prices, chief executive Philippe Guillemot said on a 30 July earnings call. He added that US OCTG inventory levels are below five-year averages. Tenaris chief executive Gabriel Podskubka said the company's Bay City, Texas, seamless OCTG mill is running at record production levels to meet demand. OCTG prices have responded to the shortage and higher demand. The Argus Pipe Logix OCTG all items index, which reflects distributor selling prices, has climbed by $45/short ton (st) in July to $2,233/st, which is $224/st higher since the start of the year. Domestic OCTG mills have pushed about $600/st of price increases into the market and have struggled to bridge a large import supply gap despite raising production. US domestic OCTG pipe mill shipments collected by Argus and import volumes less exports from January-June are at 2.24mn st, down by about 500,000st from the same period in the prior year. OCTG supply declined solely on lower import volumes as major foreign OCTG suppliers like Austria and Taiwan are under US antidumping investigations, causing many US buyers to refrain from importing from those countries. The majority of US OCTG distributors remain optimistic that pricing will continue to rise, with the Argus OCTG distributors index at a positive reading of 86 in July, down by two points from June and the fifth consecutive positive reading. Multiple OCTG distributors reported sourcing difficulties in July for certain products that they would normally buy as imports and cannot find domestically. By Rye Druzchetta Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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