Steel Products Prices North America
Layoffs Planned at Pipe Manufacturer Stupp Corp.
Written by David Schollaert
September 30, 2021
Stupp Corp. said it plans to lay off 45 workers at its Baton Rouge, La., pipe manufacturing plant in November.
The layoffs will begin on Nov. 6, according to the Worker Adjustment and Retraining Notification (WARN) notice filed with the Louisiana Workforce Commission earlier in the month.
The Baton Rouge-based pipe manufacturer said in the filing that workforce cuts were due to excess capacity at its plant resulting from a decline in the oil market. The company “carefully analyzed the situation and its available options” and described the layoffs as a substantial reduction of operations, according to the letter and as reported by local newspaper The Advocate.
The bulk of the cuts will impact members of the local United Steelworkers union, but some are salaried workers, according to The Advocate. Layoffs are expected to continue for six months.
This is the second round of layoffs in 12 months for Stupp. Last October, the company laid off 300 workers at the pipe manufacturing plant alongside 75 workers at its pipe coating operation in Baton Rouge.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Steel Products Prices North America
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]