Market Segment
June 6, 2022
Written by Michael Cowden
Severstal is no longer shipping “anything” to the United States, a company spokeswoman said.
The Russian steelmaker instead intends to “continue working with our partners who are not tied with obligations to US,” she said in an email to Steel Market Update.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.
The United Steelworkers (USW) union on Sunday said it remained far apart from U.S. Steel over the terms of a new labor contract. Meanwhile, the deadline for negotiating a new contract inches closer.