Steel Mills
Job Cuts at Essar Steel Algoma
Written by Sandy Williams
February 14, 2015
USW Local 2251 reports that Essar Steel Algoma is terminating 55 positions due to a decline in plate steel orders. According to a report by Soo Today, most of the employees have not completed their probationary period.
The job cuts follow an announcement Jan. 23 confirming a contract for 1500 tonnes of plate for construction of six Canadian Arctic Offshore Patrol Ships. At that time, Essar also announced plans to restart the #6 blast furnace by November 2015.
The company said it planned to add nearly 200 jobs in April to prepare for the restart and to meet production demand. Essar has asked the city of Sault Ste. Marie to contribute $1 million towards the upgrade and restart of the blast furnace, citing the economic benefits the investment would bring to the region. Addition of the #6 blast furnace would increase Essar Steel Algoma’s production by 1 million tons.
USW Local 2251 President Mike DaPrat said that Essar hopes to rehire the terminated workers during the April hiring if market conditions allow.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nucor moves to stop HRC price slide with $10/ton hike
Nucor is attempting to halt the decline in hot-rolled coil prices with the announcement of a $10-per-short-ton increase in its weekly consumer spot price on Monday.
Explosion rocks ArcelorMittal’s DR plant in Mexico
ArcelorMittal reported a "strong" explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.
SDI to acquire remaining stake in New Process Steel
Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel.
North Star results improve despite buyer caution as tariffs drive prices higher
North Star BlueScope said it is optimistic that US tariffs will bolster selling prices and tighten the spread the Australia-based steel maker suffered in 2025.
AISI: Domestic steel production edges down
US raw steel production declined last week, according to the latest data released by the American Iron and Steel Institute (AISI).