Steel Products Prices North America
Labor Contract at Cliffs Looks Promising
Written by Sandy Williams
September 18, 2018
The United Steelworkers bargaining team presented Cleveland Cliffs with an economic proposal to address issues ranging from pay increases to the sustainability of Hibbing Taconite. The proposal is based on feedback from a survey of member concerns conducted earlier this year.
In an interview with reporters on Friday, CEO Lourenco Goncalves said ore from the Nashwauk area could be used as feedstock for Hibbing Taconite.
“Come hell or high water, Hibtac will be taken care of. There’s no drama there,” said Goncalves.
The CEO offered praise for workers at Cleveland Cliffs. “They are asking for a few things, and we feel they deserve them, and we are going to cut a deal,” he said.
The labor contract for USW members at Cleveland Cliffs expires on Oct. 1.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products Prices North America
HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.
SMU price ranges: Steel prices rise in response to tariffs
Steel prices climbed for a second straight week across all five sheet and plate products tracked by SMU.
Nucor lifts list price for spot HRC by $20/ton
The $20/short ton increase applies to all of the steelmaker’s sheet mills, including West Coast joint-venture subsidiary CSI.
Nucor pauses month-long slide in weekly HR price
Nucor halted a four-week decline in its spot price for hot-rolled coil this week, maintaining its weekly consumer spot price (CSP) at $870/st.
Nucor lowers HRC by $10/ton in fourth straight cut
Nucor has lowered its consumer spot price (CSP) for hot-rolled coil by $10 per short ton (st), marking the fourth consecutive weekly decrease.