Steel Products Prices North America

USW Meets with Cliffs Retirees Regarding Health Care Premiums
Written by Sandy Williams
December 10, 2015
The USW met with workers at Cliffs Natural Resources in Michigan’s Upper Peninsula to discuss warnings by the company of potential increases in health care premiums for retirees.
A letter sent to retired workers by Cliffs in November contained rate increases that the USW believes to be incorrectly calculated. The union has not been able to successfully address the changes with the company.
“As soon as we learned of the company’s letter, we scheduled a meeting with management in an effort to resolve this matter,” wrote USW District 2 Director Michael Bolton in a letter to retirees. “Unfortunately, the company continued to insist on moving forward with its planned premium increases and seemed determined to force the USW to go to arbitration over these rates.
“Unfortunately, Cliffs seems determined to force substantial cost increases onto the backs of its retirees rather than seeking a compromise that works for both sides,” said Bolton. “We understand that this is a difficult time for our industry, but causing harm to senior citizens who have worked hard their whole lives is not the answer to this crisis.”

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

SMU price ranges: Flat-rolled balloon continues to leak
Sheet and plate prices were flat or lower again this week on continued concerns about demand and higher production rates among US mills.

HRC vs. busheling spread narrows in August
The price spread between prime scrap and hot-rolled coil (HRC) narrowed in August, according to SMU’s most recent pricing data.

SMU Price Ranges: Market drifts lower still
All five of SMU's steel sheet and plate price indices declined this week, falling to lows last seen in February.

Discontentment brews in plate market with flat, status-quo pricing
Sources in the carbon and alloy steel plate market said they are less discouraged by market uncertainty resulting from tariffs or foreign relations, but are instead, eager to see disruption to the flat pricing environment.

Nucor lowers HR coil spot price by $15/ton
Nucor has implemented a double-digit price decrease on spot hot-rolled (HR) coil for the second consecutive week.