Steel Products Prices North America

Cliffs Contract Talks Progressing Slowly
Written by Sandy Williams
September 29, 2015
As the Oct. 1 contract deadline approaches, labor negotiations at Cliffs Natural Resources are slowly progressing. The USW bargaining committee presented a proposal on Sept. 19 to the company which was discussed at meetings on Sept. 25.
“We are beginning to see some progress and top table talks will continue through the weekend,” said the USW in an update to members. “Meanwhile, each local has continued to meet with company HR representatives to negotiate local issues. So far there has been minimal progress on those issues.”
Hundreds of members and supporters of USW Locals 4950 and 4974 rallied on Sept 26 to demand a fair contract for workers at Cliffs.
“Remember, we are fighting the same fight that our brothers and sisters from ATI, U.S. Steel and ArcelorMittal are fighting,” said the USW, “for affordable health care for active workers and retirees, secure pensions, strong contract language and other important issues.”
SMU learned that a letter was sent out by Cliffs on September 18th explaining that a contingency plan is being prepared in case discussions break down. Although the company is optimistic that a new labor agreement can be reached, they are making the necessary provisions to continue to operate in the event of a work stoppage.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America

SMU Price Ranges: Sheet and plate move ‘soft sideways’ to start August
Sheet and plate prices were either flat or modestly lower this week on softer demand and increasing domestic capacity.

Nucor lowers HRC list price to $890/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was adjusted $10 per short ton (st) lower this week after holding steady last week.

CRU: Q3 will be the lowest point in current sheet price cycle
CRU Principal Analyst Shankhadeep Mukherjee expects a restocking cycle for steel sheet products in most parts of the world due to either low inventories or seasonally stronger demand.

CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.

SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.