Prices
Steelmakers Named in GM's Top Suppliers Awards
Written by Becca Moczygemba
March 28, 2023
The General Motors Co. (GM) recently recognized its top suppliers at its annual Supplier of the Year event in San Antonio, Texas.
The Supplier of the Year award honors outstanding international suppliers who exceed GM’s requirements. Among the award winners were steelmakers Cleveland-Cliffs Inc., Nucor Corp., and Companhia Siderurgica Nacional (CSN).
“We are thrilled to recognize these outstanding suppliers after yet another challenging year in the automotive industry,” said Jeff Morrison, GM vice president, Global Purchasing and Supply Chain. “They overcame countless obstacles and exemplified what it means to be resilient, resourceful and determined. Beyond that, these suppliers demonstrated their commitment to sustainable innovation and to driving advanced solutions in collaboration with the GM team.”
At Steel Summit 2022, Steel Market Update hosted a fireside chat with Thomas Hosea, VP of GM’s international global purchasing and supply chain (GPSC) central operations. During the chat, Hosea noted GM’s desire to establish reliable partnerships in the North American supply chain. To meet demand for its growing line of electric vehicles and attaining the goal of zero emissions, GM is focusing on establishing resilient value chains.
Cleveland-Cliffs’ chairman, president, and CEO Lourenco Goncalves commented on the award, saying: “Cleveland-Cliffs’ dedication to serving the automotive industry is at our deepest core, and we remain committed to our position as the leading automotive steel supplier in North America. Our acceptance of this award for the sixth straight year is great recognition for everything we do company-wide to have this leadership position – from product quality, to customer service, to innovation. We are grateful for our partnership with General Motors, and look forward to continuing our track record of consistent performance delivering the best quality products exactly when needed, without ever having supply chain disruptions.”
By Becca Moczygemba, becca@steelmarketupdate.com
Becca Moczygemba
Read more from Becca MoczygembaLatest in Prices
SMU Survey: Mills less negotiable on spot prices
Most steel buyers responding to our market survey this week reported that domestic mills are considerably less willing to talk price on sheet and plate products than they were in recent weeks.
Price gap between US HRC, most imports narrows slightly
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
SMU price ranges: Sheet ticks higher, plate stable
Sheet steel indices increased across the board this week, while plate prices held steady. All five of SMU’s price indices are higher than they were two weeks ago, and all but one are above levels recorded four weeks ago.
Nucor lifts HR spot price by $10/ton
Nucor has raised its weekly spot list price on hot-rolled coil by $10 per short ton (st) after keeping it unchanged since Aug. 25.
Atlas Tube up $50/ton following NLMK USA sheet price hike
Atlas Tube, in a leading move, said it aims to increase prices for mechanical tubing, hollow structural sections (HSS), and piling products by at least $50 per short ton (st).