Today is Day 4 in a scheduled six day trial to settle the question of US Steel’s claim to $2.2 billion in debt from US Steel Canada. Day 1 (Jan. 14) began with a recap of the purchase of the former Stelco steel company. Larry Brockway, a vice-president at US Steel that was involved with […]
A rally on Friday in support of workers from Allegheny Technologies will be attended by U.S. Sen. Sherrod Brown (D-Ohio). Brown sent a letter to ATI President and CEO Richard Harshman in December calling for an end to the lockout. “ATI’s reputation and its market penetration is due to a highly-skilled workforce that is recognized […]
Moon Township, Pa., January 21, 2016—CENTRIA Coating Services (CCS), a leading provider of custom coil coating services, precise color matching and rapid turnaround for both small and large orders, is proud to announce the appointment of Jerry T. Hatley, Jr. as Vice President, CENTRIA Coating Services. “We are proud to welcome Jerry to the CENTRIA […]
A reaction in one of the furnaces in the melt shop at AK Steel Butler led to two employees receiving non-life threatening injuries on Wednesday afternoon. According to AK Steel spokesperson Lisa Jester, reports that the furnace exploded are exaggerated. “To be clear, the reaction was inside the furnace and the furnace is intact–it would […]
US Steel may temporarily lay off almost 700 workers at US Steel Tubular Products-Lone Star in Houston. Employees were advised by US Steel that operations may be adjusted “due to softening market conditions.” WARN notice listed by the Texas Workforce Commission on Jan 11 shows 679 employees slated for possible layoff beginning March 16, 2016. […]
NLMK USA crude steel production for Q4 2015 totaled 0.08 million tonnes (metric tons), a drop of 46 percent from the previous quarter and 50 percent from the prior year. Finished steel output fell to 0.35 million tons in the quarter (-30% qoq and -27% yoy). NLMK attributed lower production to challenging market conditions and […]
Canadian shipments for all steel products in the month of December were 302,700 net tons, a decrease of 24.1 percent from the month before and decrease of 19.2 percent from December 2014. Inventories at the end of the month stood at 1,297,000 tons, up 0.8 percent from last month but down 21.7 percent from the […]
The article below is normally reserved for our Premium members, but we thought our Executive members would appreciate seeing the MSCI data from a different viewpoint with more analysis than what they normally see from us. Based on Steel Market Update (SMU) analysis of the recently released MSCI service center inventory and shipment data, total […]
Essar Steel Algoma will begin the process of looking for a buyer or investor next month according to letters sent to suppliers by CEO Kalyan Ghosh. Under terms of the Debtor In Possession (DIP) Agreement, the company must get court approval for a “broad and investment solicitation process (SISP)” by February 1, 2016. “While we […]
There are zombie factories in China. No, they are not making zombies but the factories themselves are the equivalent of the walking dead–steel mills hanging on by a thread, not making money, reducing workforces, but clinging to life when they are all but dead. The China Iron and Steel Association (CISA) is painting a grim […]
The USW and Allegheny Technologies continue to wrangle over issues in an attempt to find a contract proposal that will appease both parties. Meetings were held at USW headquarters last week with a mediator present and without. The USW reports that there has been some progress on minor issues but ATI continues “to argue for […]
USW and ArcelorMittal negotiations resumed last week with hope of a possible compromise after a tentative contract was reached at US Steel. According to the latest information update from the USW, an impasse between the parties still continues concerning retiree benefits and contract language that could affect future labor agreements. “While ArcelorMittal has dropped its […]
The USW and Allegheny Technologies continue to wrangle over issues in an attempt to find a contract proposal that will appease both parties. Meetings were held at USW headquarters last week with a mediator present and without. The USW reports that there has been some progress on minor issues but ATI continues “to argue for […]
US Steel Canada has received court approval to begin again the sales process for Hamilton and Lake Erie Works. US Steel Canada argued in a motion before the court: “With potential SISP bidders showing interest in USSC’s business and with important operational decisions for 2017 needing to be made beginning in the second half of […]
LEIPSIC, Ohio, Jan. 14, 2016 /PRNewswire/ — PRO-TEC Coating Company, a 50/50 joint venture between United States Steel Corporation (NYSE: X) and Kobe Steel, Ltd., of Japan, announced today that Richard E. Veitch has been named the President of PRO-TEC Coating Company. This change is effective Jan. 18, 2016. Veitch succeeds Brent Rosebrook, who had […]
Mill Steel, a distributor of flat rolled carbon steel, has announced the acquisition of certain assets of S&S Steel Services for an undisclosed amount. S&S Steel Services, located in Anderson, Ind., is a supplier of carbon flat-rolled steel services serving manufacturing customers in the Midwest, Mid-South and Mid-Atlantic United States. S&S will continue steel slitting […]
Steel Market Update participated in the monthly galvanized steel focused conference call sponsored by HARDI (*) earlier today. The wholesalers and manufacturers who participated in the call reported rising prices out of their domestic mill suppliers. Most reported the mills as having collected $20 to as much as $40 per ton since the increases were […]
Workers at US Steel will receive ballots and a summary of the tentative three-year contract this week. Over the next two weeks steelworkers will cast their votes on whether to ratify or reject the new contract. The USW said it expects to count ballots on February 1. The USW has urged the membership to ratify […]
Media reports indicate that ArcelorMittal Steelton, a producer of rail in Pennsylvania, may be up for sale. Local government officials and the president of USW Local 1688 say they have been informed by the company that the facility is for sale. A spokesperson for ArcelorMittal said the company “does not comment on rumors or market […]
Steelworkers in Lorain, Ohio are having a dismal start to 2016. In addition to this week’s announcement by Republic Steel that it would idle operations at its rolling mill, US Steel confirmed layoffs are coming to Lorain Tubular. A union official reports 261 workers at US Steel’s Lorain Tubular Operations will be laid off beginning […]
Nucor announced it will resume operations at its direct reduced iron (DRI) plant in Louisiana at the end of January. Operations were suspended at the end of last year due to market conditions following a scheduled maintenance outage. The company said in a statement: “Nucor’s raw materials strategy is built on flexibility, with the company […]
USW and ArcelorMittal resumed contract talks this week in Pittsburgh. The negotiating committees first met in June 2015 and USW members have been working under a contract extension since Sept 1. Mark Glyptis, president of the United Steelworkers Local 2911 in Weirton said he is hopeful that a settlement will be reached soon. “This has […]
Reliance Steel & Aluminum Co. has completed the acquisition of Tubular Steel, Inc., effective Jan. 1. TSI is a distributor and producer of carbon, alloy and stainless steel pipe, tubing and bar products. The company is headquartered in St. Louis, Mo., and ships from its seven U.S. service centers more than 2 million custom-cut lengths […]
The winner of the 2015 Steel Man of the Year is Lisa Goldenberg, the first woman to receive the award from the Association of Steel Distributors. The press release from ASD follows: The Association of Steel Distributors (ASD) is proud to announce Lisa Goldenberg has received the 2015 Steel Man of the Year Award. Since […]
The China Iron and Steel Association reported that Chinese steel mills suffered losses of approximately $8.18 billion dollars in the first eleven months of 2015. Revenue fell 19.3 percent year over year for the 101 large and mid-sized steel mills that CISA tracks. With falling steel demand at home, China steel exports surged in the […]
USW and Allegheny Technologies Inc. resumed talks on Dec. 30 with a federal mediator in Pittsburgh. The meeting follows an announcement that the National Labor Relations Board would file unfair labor practice charges against ATI. USW officials said the parties discussed the NLRB decision, the US Steel tentative settlement, idling of operations, and the four-month […]
USW and Allegheny Technologies Inc. resumed talks on Dec. 30 with a federal mediator in Pittsburgh. The meeting follows an announcement that the National Labor Relations Board would file unfair labor practice charges against ATI. USW officials said the parties discussed the NLRB decision, the US Steel tentative settlement, idling of operations, and the four-month […]
The negotiating committee at US Steel reached a tentative agreement on a new labor contract on Saturday, Dec. 19. Although terms of the contract will not be officially released until after ratification, the Pittsburgh Post-Gazette obtained a copy and revealed some of the content. The new contract references slowdowns for the company including those at […]
US Steel Canada is doing better than expected despite still losing money. According to the 18th Monitor’s report for the CCAA protected company, November’s operation loss was $5.8 million, about half the forecast of $11 million. Operational loss year to date (as of November 30) was $109.4 million. Net loss for the eleven months was […]
US Steel Corp announced it will postpone construction of the electric arc furnace at its Fairfield Works operation in Alabama due to “continued challenging market conditions in both the oil and gas and steel industries.” The $230 million EAF was scheduled for completion next year, giving US Steel the flexibility of its first EAF. The […]