Steel Mills

Essar Steel Algoma Labor Negotiations Extended
Written by Sandy Williams
March 31, 2016
Essar Steel Algoma and USW Local 2724 have agreed to extend bargaining discussions during the sales and solicitation process. A joint press release from Essar Steel Algoma and USW Local 2724 follows:
SAULT STE. MARIE, ONTARIO – Essar Steel Algoma Inc., the USW and its Local 2724 have agreed to extend bargaining discussions in light of their collective efforts to focus on a successful Sale and Investment Solicitation Process. In the interim, the company and salaried personnel will continue to work under the terms of the existing contract, which expires on March 31, 2016.
Final contract negotiations are expected to conclude as part of the overall restructuring of the company.
The collective agreement for Essar Steel Algoma hourly employees represented by USW Local 2251 remains in effect through to July 31, 2016.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

As Q1 loss balloons, Cliffs pledges to cut costs, streamline operations
Cleveland-Cliffs Inc. gushed red ink in the first quarter, and pledged to stem the bleeding by idling inefficient, “loss-making operations” and increasing focus on its core automotive business.

Cliffs plans to idle three mills, cut 950 jobs on ‘insufficient demand and pricing’
Cleveland-Cliffs plans to indefinitely idle its steel mill in Riverdale, Ill., as well as mills in Conshohocken, Pa., and Steelton, Pa. The Cleveland-based steelmaker said all three facilities would be idled on or around June 30. Approximately 950 jobs will be impacted, the company said.

CRU: Usiminas may reduce capex unless government strengthens protection
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.

USS swings to loss in first quarter on N. American flat-rolled segment woes
U.S. Steel CEO praised the company’s resilience, “despite the seasonally low results driven by annual mining logistics constraints in our North American Flat-Rolled segment and lagging spot prices.”

Nucor gives updates on new capacity coming online
Nucor said several of its capital projects will start operations within the next year and provided an update on them.