Category: Market Segment

AZZ Inc., relatively unfazed by volatility in zinc pricing, is optimistic about demand prospects and M&A opportunities, especially in the galvanizing sector.

European automaker Stellantis is mulling a major management shakeup following the company’s recently lowered 2024 guidance. This comes amid a spate of layoffs in the last few months at Stellantis, which has significant operations in the US, and at General Motors.

Steel Dynamics Inc. (SDI) has become the world’s first steel producer with carbon targets certified by the Global Steel Climate Council (GSCC).

AZZ Inc. posted sharply higher second-quarter profits driven by increased sales of and better demand for its products. The Fort Worth, Texas-based hot-dipped galvanized and coil coater reported net income of $35.4 million in the second quarter of 2024, up 43.3% from $24.7 million in the same quarter last year. It posted Q2'24 sales of $409 million, up 2.6% from $398.5 million in Q2'23.

After a complete stoppage earlier this year, ArcelorMittal Mexico’s steel mill in Lazaro Cardenas, in the state of Michoacán, will soon return to full production.

Stelco Inc. said that the Canadian Competition Bureau will not challenge Cleveland-Cliffs’ pending buy of the Hamilton, Ontario-based steelmaker.

The US has banned imports from a subsidiary of the world’s largest steelmaker because it is allegedly using forced labor to produce steel products.

Cleveland-Cliffs has cleared a regulatory hurdle for its pending purchase of Canadian steelmaker Stelco Inc.

US raw steel mill production has slipped for the fourth consecutive week, according to the latest figures released from the American Iron and Steel Institute (AISI).

Nucor’s consumer spot price (CSP) for hot-rolled (HR) coil is unchanged this week at $730 per short ton (st).

On Thursday, the International Longshoremen’s Association (ILA) and the US Maritime Alliance (USMX), representing carriers and port operators on the East and Gulf Coasts, announced a three-and-a-half-month extension of the recently expired collective bargaining agreement. The extension kicks the can down the road until Jan. 15, 2025, after the 2024 election and the certification of the results on Jan. 6.

General Motors is temporarily stopping production at a plant in Michigan and one in Texas due to supply-chain fallout from Hurricane Helene.

China is challenging Canada’s decision to put tariffs on imports of Chinese steel, aluminum, and electric vehicles.

The International Longshoreman's Association (ILA) union and the United States Maritime Alliance (USMX) reached a tentative agreement on wages on Thursday evening. The move ends a strike at East Coast and Gulf Coast ports that began on Tuesday and that had threatened significant supply-chain disruptions.

Reliance Inc., the largest service center chain in North America, has picked Douglas Stotlar to be the next chairman of its board. The move will be effective Jan. 1, 2025. Mark Kaminski, the current chair, will then step down from that role but will remain on the board.

Flack Global Metals (FGM) has closed on its majority ownership stake in Pacesetter Steel Service.

Wheatland Tube, a subsidiary of Zekelman Industries, is closing a tube facility in Chicago, with nearly 240 workers being laid off.

Wabash National and Steel Dynamics Inc. (SDI) have signed a 10-year supply agreement that secures “critical steel components” for Wabash’s growing operations, the company said in a press release.

The International Longshoremen’s Association (ILA) launched a strike just after midnight on Tuesday at East Coast and Gulf Coast ports. The work stoppage spans from New England to New Orleans. It came after a last-ditch offer by the United States Maritime Alliance (USMX), which represents maritime employers, failed to meet union demands.

Nucor is closing its Nucor Tubular Products Chicago facility and will be laying off 47 workers.

Netherlands-based automaker Stellantis has lowered its guidance for 2024 due to woes in the North American market and weakening worldwide industry dynamics.

By most accounts, the issues that are most important for voters in this election are the economy, immigration, and abortion. International trade policy plays a key role in at least two of those three (the economy and immigration). Both presidential candidates recognize that trade and tariffs are an important focus. And “America first” is a rallying point for both candidates.

Unless a last-minute deal is struck by midnight on Monday, a massive work stoppage will hit ports up and down the East and Gulf Coasts on Tuesday and cause widespread supply chain disruption. Master contract negotiations remain stalled between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX). The employer group took […]

Grand Steel has acquired a new toll processing facility in Chattanooga, Tenn., marking the third location for the flat-rolled steel service center.

Canadian flat-rolled steelmaker Algoma predicts that it will be roughly breakeven on an adjusted EBITDA basis in the second quarter of its fiscal year. The Sault Ste. Marie, Ontario-based company expects adjusted EBIDTA in a range from a gain of $5 million CAD ($3.7 million USD) to a loss of $5 million CAD in fiscal Q2'25.

On Thursday, the Department of Commerce announced it would initiate investigations into coated steel imports from ten countries.

Worthington Steel’s earnings tumbled in its fiscal first quarter of 2025. The company cited a drop in selling prices and tons sold for the sales dip for the three months ended Aug. 31.

The United Auto Workers (UAW) union has reached a tentative labor agreement with Ford, averting a potential strike at a truck plant in Dearborn, Mich.

Barry Zekelman, chairman and CEO of Zekelman Industries, says the import data unquestionably supports the fact that imports of Mexican conduit have been surging into the US market.

Galvanized steel buyers on Tuesday discussed the eerie stability in sheet prices of late. Expectations are for the murky market to persist in the short term, while glimmers of hope continue for prices pushing higher.