Category: Market Segment

U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.

Ford and United Auto Workers (UAW) leaders confirmed on Wednesday evening that they had reached a tentative labor agreement. “Ford is proud to assemble the most vehicles in America and employ the most hourly autoworkers,” Ford CEO and President Jim Farley said in a statement sent to SMU. “We are focused on restarting Kentucky Truck […]

The St. Lawrence Seaway is shut down after members of Canada’s Unifor union went on strike against the St. Lawrence Seaway Management Corp. (SLSMC) this past weekend.

Radius Recycling, formerly known as Schnitzer Steel Industries, reported a loss for its fiscal fourth quarter ended Aug. 31.

The United Auto Workers (UAW) union and Ford could soon reach a tentative labor deal.

Ranger Steel Services has acquired the steel operations of Detroit-based heavy plate distributor Nance.

Global steel production dropped in September for a third consecutive month, according to the latest figures from the World Steel Association (worldsteel). Approximately 149.3 million metric tons of crude steel were produced globally in September. That’s a 2.1% decline from the estimated 152.6 million metric tons produced in August. September’s production was down 1.5% from September […]

Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.

On the company’s third-quarter earnings call with analysts on Tuesday, Oct. 24, Cleveland-Cliffs executives were careful not to disclose anything about their talks with U.S. Steel on a potential acquisition.

Cleveland-Cliffs says it is taking advantage of higher demand from the automotive sector – its biggest end-use market – this year.

Members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) were bullish at the Tuesday, Oct. 24, meeting of its Sheet Metal/Air Handling Council.

The UAW went on strike on Tuesday at General Motor’s truck and SUV plant in Arlington, Texas – the automakers’ largest assembly plant in the US.

Nucor reported a drop in third quarter profits on lower steel prices, with the biggest hit to earnings occurring at its sheet mills. And the Charlotte, N.C.-based electric-arc furnace (EAF) steelmaker doesn't see things improving in the fourth quarter.

US apparent supply increased to 8.65 million net tons in August, up 5% compared to 8.24 million tons July, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).  Apparent steel supply is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total […]

Cleveland-Cliffs posted solid results for the third quarter, with strong steel shipments, particularly to the automotive industry, the steelmaker said in its Q3 earnings report on Monday, Oct. 23.

Domestic raw steel production rebounded in the week ended Oct. 21, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 23. US steel output increased to 1,703,000 tons, up 0.5% from 1,695,000 net tons a week earlier. Though the change was small, it’s a recovery from a three week […]

The United Auto Workers (UAW) union expanded its strike on Monday morning, hitting Stellantis’ largest plant.

After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.

United Auto Workers (UAW) president Shawn Fain indicated on Friday that a deal between the UAW and the “Big Three” automakers could be in sight.

India's JSW Steel said lower steel prices and adverse market conditions affected the performance of its US operations in its fiscal 2024 second quarter ended September 30. Still, the company posted improved results compared to the same quarter last year.

The active rig count for the week ended Oct. 20 showed increases in both the US and Canada, according to oilfield services provider Baker Hughes.

Nucor Steel held a groundbreaking ceremony on Friday for its Nucor Steel West Virginia sheet mill in Mason County, W.Va.

LME Aluminum Continues To Trade Under Pressure; US Midwest Premium Stays Between 19–19.5¢/lb The LME aluminum 3-month price continued to trade under pressure on the morning of 20 October and was last seen trading at $2,177/t. The US Midwest premium showed no surprise as it continued to sit between 19–19.5 ¢/lb. The UAW strikes are […]

United Auto Workers (UAW) members ratified a labor deal at ZF Chassis Systems in Tuscaloosa, Ala., on Thursday, ending a nearly month-long strike.

Nucor Corp. announced it is considering installing a new rebar micro mill in the Pacific Northwest.

Annual contract negotiations between buyers and mills in the US flat-rolled steel market are picking up pace as both look to lock in volume for the coming year. As these contracts are finalized, we expect that changes in the market will impact how 2024 contracts are ultimately structured. The primary change in the market is […]

On its third-quarter earnings conference call on Thursday, Oct. 19, Steel Dynamics Inc. executives did not rule out the possibility of ‘inorganic growth’ opportunities.

Steel Dynamics Inc. provided an update on the four new coating lines it is adding to its Heartland flat rolled processing mill and Sinton sheet mill on its third-quarter earnings conference call with analysts on Thursday, Oct. 19.

Canada’s Unifor, which represents union-represented auto workers there, has opened negotiations with automaker Stellantis.

Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).