TimkenSteel Corp., Canton, Ohio, will sell its TimkenSteel (Shanghai) Corporation Limited subsidiary in China to Daido Steel Co. Ltd. The deal is for approximately $7 million.

TimkenSteel will idle its Harrison melt and cast assets in Canton, Ohio, later this quarter., according to a filing with the Securities and Exchange Commission. Future melting and casting activities will take place at the company’s Faircrest location, also located in Canton.

Following a strong 2018, the market for special quality bar products took a nosedive this year.

TimkenSteel Corp. will close its Material Services facility in Houston during the first quarter. The 100,000-square-foot operation provides value-added and finishing services, primarily to customers in the energy market.

Ward J. “Tim” Timken has stepped down as president, CEO and chairman of the Canton, Ohio-based steelmaker. Terry L. Dunlap has been appointed interim president and CEO and John P. Reilly, lead director of the board, will assume the role of chairman.

The market for special bar quality metal rebounded last year after underperforming the previous two years. Strong end markets and favorable market conditions carried those gains into 2018, and producers and distributors of SBQ products don’t see the bar lowering anytime soon.

Steel production requires a lot of energy, and the various processes used to make it are a major source of greenhouse gas emissions. The global iron and steel industry is the largest energy consuming manufacturing sector, according to Columbia University’s Global Network for Climate Solutions, and produces roughly 5 percent of total world greenhouse gas emissions.

North American auto production slipped last year and was expected to decline further in 2018, but some analysts are now expecting a return to growth as early as this year.

Steel and aluminum producers continue to launch new products for lightweighting, strength and other end-use specifications. TimkenSteel, Canton, Ohio, has launched its Endurance family of performance steels, which include three new patent-pending grades of ultra-high strength, high-toughness steels.

New capacity, increased production and equipment upgrades highlight mills’ plans for the year ahead. As 2017 draws to a close, U.S. metal producers are finalizing their plans for 2018 and beyond.

Following two successive agreements voted down by the United Steelworkers, the USW has voted in favor of a new four-year contract with TimkenSteel. The agreement represents approximately 1,650 employees at the company’s Canton, Ohio, facility.

Following two successive agreements voted down by the United Steelworkers, the USW has voted in favor of a new four-year contract with TimkenSteel.

Energy headwinds have begun to soften, giving way to better conditions for the mechanical tubing market. A first-half resurgence of the energy market has been a boon for the makers and suppliers of mechanical tube, and most expect a similar story for the balance of 2017.

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In their fourth-quarter reports to analysts and investors, executives from the industry’s publicly held mills reported challenging market conditions and declining sales.