Metallus, formerly known as TimkenSteel, has entered an agreement for up to $99 million in funding from the United States Army. The funding will support a project aimed at bolstering the Army's mission of ramping up artillery shell production in the coming years.

TimkenSteel will change its name to Metallus Inc. The new name honors the company’s century-long legacy as an industry-leading producer of strong, sustainable steel and reflects its vision to harness the enduring power of high-performance metals to make the world a better place, the company claimed.

Following a few years of allocation, lead times have come in dramatically for specialty bar quality products.

Strong backlogs and government spending are among the factors that have kept the market for heavy equipment robust through the middle of 2023.

The strength in SBQ has outlasted the market for many steel products, but how long will it continue? (Photo courtesy Gerdau Special Steel NA)

The metals supply chain followed up the pandemic-dominated 2020 with a 12-month span that was even more unpredictable. Low stock levels were the rules for most metals warehouses.

United Steelworkers Local 1123 have ratified a new four-year agreement with TimkenSteel. The new contract covers approximately 1,180 bargaining employees at TimkenSteel’s Canton, Ohio operations.

TimkenSteel Corp. and the United Steelworkers have agreed to extend a labor agreement for two weeks. The extension, which will run through Oct. 11, will allow the two sides to work toward a mutually acceptable agreement.

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.