Category: Market Segment

Ford Motor Co. announced layoffs in Ohio and Illinois on Monday, citing the ongoing United Auto Workers (UAW) strike.

Algoma Steel Group has extended its iron ore purchase agreement with U.S. Steel for another two years.

U.S. Steel is laying off ~300 workers at its Granite City Works in Illinois, a company spokeswoman told SMU on Tuesday.

Cleveland-Cliffs has signed a non-disclosure agreement with U.S. Steel as the latter continues with its strategic review sales process.

US raw steel output took a downward turn during the week ending Sept. 30, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 2.

General Motors has announced layoffs at its Parma Metal Center in Ohio and Marion Metal Center in Indiana as a result of the ongoing United Auto Workers (UAW) strike.

A UAW strike at Mack Trucks was avoided this week when a tentative labor agreement was reached.

Olympic Steel has acquired Conway, Ark.-based Central Tube & Bar (CTB).

Last week the World Trade Organization (WTO) held its periodic retreat for members to discuss the future of the organization.

Algoma Steel Inc. plans to ramp up production at its modernized plate mill toward the end of the year. Operations Update The Canadian sheet and plate producer said it in the meantime continues hot commissioning at the upgraded facility and has begun cold commissioning as well. The company said it has also run trials through […]

ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.

Pessimism grew among metalformers in September’s business report from the Precision Metalforming Association.

Electrode producer GrafTech International announced on Thursday, Sept. 28 that its president and CEO is stepping down.

SMU's weekly survey reflects what people in the market are talking about. Lately, a popular topic has been the United Auto Workers (UAW) strike.

The United Auto Workers (UAW) union expanded its strike on Friday, calling on an additional 7,000 workers at Ford and General Motors plants to strike as of 12 p.m. ET.

Nucor Corp. will keep plate prices unchanged with the opening of its November order book.

The United Auto Workers (UAW) president Shawn Fain is scheduled to make an announcement on Facebook Live, according to the UAW International Union's Facebook page.

While lead times for sheet again had mixed movements this week, those for plate collapsed, according to SMU’s most recent market survey.

Worthington Industries said it has so far been little impacted by the United Auto Workers (UAW) strike.

Worthington Industries Inc. on Wednesday reported net income of $96.1 million in its fiscal 2024 first quarter, up 49.9% from a year earlier despite net sales falling 15.3% over the same period. The Columbus, Ohio-based service center and manufacturer said the drop resulted mostly from lower average prices in its steel processing division as well as lower overall sales volumes.

US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.

Nucor has announced a collaboration with fusion power company Helion to develop a 500-megawatt nuclear fusion power plant.

Ford Motor Co. said on Monday that it has stopped work at its $3.5-billion project for an electric vehicle (EV) battery plant in Michigan, according to media reports.

The United Steelworkers International (USW) executive board on Tuesday appointed David McCall as the union’s new international president. He will fill the remainder of Tom Conway’s term.

Despite economic headwinds in the headlines, the near-term future could prove brighter than expected, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the Tuesday, Sept. 26, meeting of its Sheet Metal/Air Handling Council.

Worthington Industries announced on Tuesday the names and branding for the two companies resulting from its planned separation, which could happen earlier than previously stated.

Tom Conway, international president of the United Steelworkers (USW) union since 2019, has died at age 71.

Domestic raw steel output was up slightly for the week ending Sept. 23, according to data released by the American Iron and Steel Institute (AISI) on Monday, Sept. 25.

Global steel production tapered off in August vs. July, according to the latest figures from the World Steel Association (worldsteel).

Ford of Canada union workers represented by Unifor ratified a new, three-year labor agreement on Sunday.