Steel Products Prices North America

Cliffs Workers Agree to 30 Day Contract Extension
Written by Sandy Williams
October 1, 2015
United Steel Workers at Cliffs Natural Resources have agreed to extend their labor contract for 30 days beginning on Oct. 1, along with a rolling 168-hour extension if talks exceed 30 days.
The USW bargaining committee says it has made progress on some issues but “remain far apart on many others.”
The committee is returning home to meet with local unions to provide updates and get feedback from members.
The present contract expires Oct. 1 and covers workers at Hibbing Taconite, Tilden Mining, United Taconite and Empire Mining.

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

Thin demand keeps plate prices hovering at lowest levels since February
Participants in the domestic plate market say spot prices appear to have hit the floor, and they continue to linger there. They say demand for steel remains thin, with plate products no exception.

SMU Price Ranges: HR crawls back to $800/ton
SMU’s HR price stands at $800/st on average, up $5/st from last week. The modest gain came as the low end of our range firmed, and despite the high end of our range declining slightly.

SMU successfully completes IOSCO review
SMU has successfully completed an external review of all our prices. The review has concluded that they algin with principles set by the International Organization of Securities Commissions (IOSCO).

Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.

SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.