Mediation at US Steel Canada began last Thursday to try to resolve the issues that have plagued the CCAA protected entity. The mediation will address the consider the restructuring and sale of US Steel Canada, US Steel’s claim that it is owed $2.2 billion by USSC, and US Steel’s decision to shift 15,000 tons of […]
All the focus has been on labor talks between the USW and US Steel and ArcelorMittal, but there are several other USW contracts that are up for renewal such as Cliffs Natural Resources and Alton Steel. Alton Steel, an SBQ steel producer located in Alton, Ill., is represented by USW Local 3643. The contract agreement […]
US Steel is planning a full idle of the Keetac taconite plant in Keewatin, Minn. WARN notices have been issued to workers and the layoffs could commence on or after Oct. 11. Keetac was idled In May, laying off 412 workers, but about half of those were recalled last month for repair work. A spokesperson […]
Worthington Industries reported net earnings of $31.4 million for first quarter 2016 ending August 31, 2015. Earnings were down from $44.2 million in Q1 2015 but up from Q4 FY 2015’s $28.9 million. Net sales declined 12 percent to $758.1 million, driven by lower volume in all business segments and lower average steel pricing. Gross […]
ArcelorMittal announced it will invest $11.1 million its premier tubular facility, ArcelorMittal Monterrey, in Monterrey, Mexico. Construction of an additional tube mill and installation of downstream value-add processing equipment will enable the facility to supply high quality straight and formed tubes used in the production of automotive seating and head rest applications. The updated facility […]
Contract negotiations are set to resume again at ArcelorMittal and U.S. Steel. The USW informed its membership on Wednesday that the negotiating committees will be heading back to Pittsburgh on Sunday, Sept. 27 with meetings scheduled for Monday, Sept. 28. “Although the parties remain far apart on key issues, we are committed to bargaining a […]
Allegheny Technology workers are in their sixth week of lockout by management with no word on when negotiations will resume. The USW is currently arguing with ATI over medical benefits for locked out salaried office and technical workers in Harrison. The union filed a lawsuit on August 28 charging that the “company breached the union […]
Steel Market Update participates in a monthly steel conference call with HARDI wholesalers who supply galvanized sheet and coil products to the HVAC mechanical contractors across the United States and Canada. The wholesalers also supply other products such as air conditioners, furnaces and many other products to companies working on residential, multi-family and commercial construction […]
Steel Dynamics Inc. anticipates improved profitability in third quarter from modestly increased margins that were offset by slightly lower shipments. Earnings will be higher than second quarter which was impacted by the closing of the Minnesota Iron operations and a planned maintenance outage at Iron Dynamics. SDI expects overall average product pricing to be flat […]
Based on Steel Market Update (SMU) analysis of the recently released MSCI service center inventory and shipment data, total service center carbon steel shipments decreased by 126,600 tons in August to 3.160 million tons. Shipping days at 21, were down one from July. On a tons per day basis (t/d) shipments increased from 149,400 tons […]
Labor negotiations continue to pause at US Steel, ArcelorMittal and ATI. The USW bargaining committee has been holding meetings at US steel locations to review the union’s most recent proposal and the status of negotiations. “Though there has been no significant progress to report on bargaining [with US Steel] in recent days, talks will continue, […]
The Association of Steel Distributor held their regional meeting in Cleveland last Thursday at the Metropolitan on the 9. If you ever have a chance to be in Cleveland check out this hotel that is designed around the existing bank vaults built by the Carnegie Steel company. The meeting was held jointly with the Association […]
U.S. Steel Canada is seeking a court order that will allow it to continue the restructuring process beyond this year. Without the order, the company says it would have to cease operations at the end of 2015. “With a Court Order we can preserve work and meet obligations to approximately 2,200 employees and continue to […]
AK Steel expects shipments to increase by 3 percent in third quarter to approximately 1.86 million tons primarily on the strength of auto market shipments. In its third quarter guidance, the company said it anticipates an average selling price of $910 per ton, down 2 percent from Q2 due to lower carbon steel spot pricing […]
The Metal Service Center Institute (MSCI) released August distributor shipment and inventory data on Wednesday of this week. Total steel inventories remained essentially unchanged in August compared to July as the daily shipping rate declined by 3.8 percent. The biggest declines in shipments were attributed to carbon plate (-14.8 percent), structurals (-3.9 percent) and carbon […]
Once one of the largest corporate giants in the United States (if not the world), United States Steel (USS) continues to shrink its workforce as demand for its products shrink. SMU has learned that an unknown number of white collar workers have been advised that they will be losing their jobs. USS Spokesperson Courtney Boone […]
Mediation may be the solution to the controversial issues between US Steel and stakeholders at US Steel Canada. Former Ontario Superior Court associate chief justice Douglas Cunningham will preside over a three-day session scheduled to begin next week. “The mediation shall address the feasibility of a comprehensive agreement among the parties,” wrote Superior Court Justice […]
Nucor guidance for third quarter 2015 beat analyst estimates. Results are expected to be in the range of $0.45 to $0.50 per diluted share, up from $0.39 in second quarter but a decrease from 2014 Q3 earnings of $0.76 per diluted share. Nucor said margins have benefited from lower inventory costs in third quarter. The […]
The USW bargaining committee for US Steel is heading home according to a Sept. 14 update by the USW. Committee members will meet with local membership to discuss the status of ongoing negotiations with the US Steel. “While we have made some significant progress this summer on some important issues, we remain far apart on […]
Steel Dynamics announced expansion of its product offerings through the purchase of steel decking facilities from Consolidated Systems, Inc. The facilities and net working capital of approximately $30 million was purchased by SDI for $45 million and will become part of New Millennium Building Systems, LLC, a wholly owned fabrications operations subsidiary. Mark Millett, President […]
Over the weekend ArcelorMittal walked away from the negotiating table with the United Steelworkers. The question now becomes, if the two sides are committed to their positions – especially on health care coverage and worker contributions (there are currently none)—will there be a lockout? The union will not strike because they are being asked to […]
ArcelorMittal USA has walked away from the bargaining table following submission of a proposal by the USW that “meets our members’ needs and protects benefits.” The union called the move by management “disappointing but not surprising.” The negotiating committee is returning to the plants and has scheduled informational meetings Tuesday in Weirton at 3 p.m. […]
SMU has been canvassing secondary flat rolled steel service centers and brokers around the United States to see how the secondary markets are faring in the current market conditions. We had an extended conversation with a Chicago based distributor who told us that the current market is all about “staying power.” What this executive meant […]
US Steel and the USW are continuing efforts to hammer out a deal at the bargaining table. In a Sept 10 update the USW said negotiations were progressing slowing with progress on some significant issues but with “unrealistic and unacceptable demands for concessions” on others. Unacceptable to the union is a two tier plan that […]
Concern is mounting regarding US Steel’s announcement that it will move production from US Steel Canada to the United States. “When is the federal government going to stand up to U.S. Steel and defend Canadian workers and pensioners?” asked Gary Howe, President of USW Local 1005 in Hamilton in a recent USW posting. “From Day […]
Progress appears stalled at the bargaining table with neither ArcelorMittal nor the USW willing to make concessions. In Update 12 on Friday, the USW reported progress in the labor negotiations has been “slow.” “Although the company says that it wants a new contract with our union, that desire has not been reflected in its proposals […]
The union, which in its fourth week of lockout at ATI, filed an affidavit with the National Labor Relations Board on Wednesday claiming the lockout is illegal. Tom Conway, USW vice president and chief negotiator for the union, filed the affidavit but would not detail reasons why the lockout is illegal. The charges are currently […]
US Steel plans to relocate 15,000 tons of monthly automotive steel production from Hamilton Works and Lake Erie Works to its US facilities. Court monitor Alex Morrison was informed that the reallocation will take effect for customer shipments in Oct. 2015. Seventeen employees at Hamilton will be laid off and 10 others redeployed. The production […]
The United Steel Workers said it would prefer to continue contract negotiations rather than seek a strike authorization from the membership. On Monday, June 1, the day before contract expiration, the USW offered to continue working under the previous contract while continuing negotiations with US Steel. US Steel responded that it remained committed to operating […]
On Monday, Aug. 1, ArcelorMittal accepted the USW offer to continue to remain at the negotiation table under a “continue to work agreement.” “We believe this “continue to work agreement” provides the fullest opportunity to resolve our differences and demonstrates both parties commitment to negotiating in good faith to achieve a mutually beneficial agreement and […]