Contributor: Ethan Bernard

Cleveland-Cliffs’ earnings tumbled in the second quarter as the company cited weak demand and pricing.

The United Auto Workers (UAW) and United Steelworkers (USW) unions have thanked President Biden for his service following his announcement that he is no longer seeking re-election.

Cleveland-Cliffs is starting a new electrical distribution transformer production plant in Weirton, W.Va.

They say a picture is worth a thousand words. Well, when you add in some commentary from respected peers in the steel industry to those pictures, that may shoot you up to five thousand words, at least. In that spirit, we’ve added some snapshots from our market survey this week, along with some comments from market participants.

A labor judge in Mexico City has ruled that the strike of a local mining union is illegal at ArcelorMittal Mexico’s Lazaro Cardenas mill and Las Truchas mine in Michoacán state, Mexico.

Steel Dynamics Inc.’s (SDI’s) earnings slid in the second quarter, but the company's top executive believes steel tags are set to rise.

The spread between hot-rolled coil (HRC) and prime scrap prices  narrowed for the third consecutive month, hitting a level not seen since 2020, according to SMU’s most recent pricing data.

The American Iron and Steel Institute (AISI), American Institute of Steel Construction (AISC), and the University of Massachusetts at Amherst have received a grant to enhance emissions reporting for steel construction projects.

New England’s All-Steel Fabricating announced the launch of its new road plate rental service.

Scrap prices came in mostly sideways in July, with prime scrap prices edging down while shredded and HMS tags ticked up slightly, scrap sources told SMU. They believe a bottom has been reached in the market.

Reliance Inc. has reached an agreement to buy certain assets of Ferragon Corp.'s FerrouSouth division, a toll processing operation based in Iuka, Miss.

We’ve taken some time to supply you with some handy-dandy production figures for 2024 presented in a unique way.

Steel Warehouse plans to expand in Jefferson City, Tenn., with an investment of ~$20 million.

Three steel trade groups and United Steelworkers (USW) union held an event on Capitol Hill urging action on strengthening legislation against unfair trade.

Steel trade associations applauded the introduction of the “Prove It Act” into the House of Representatives on Monday.

Nucor has kept its consumer spot price (CSP) for hot-rolled (HR) coil flat this week.

First off, we hope everyone had a safe and happy July 4th holiday, with fireworks seen and BBQs attended. Many parts of the country are quite toasty at the moment, signaling that, yes, summer has indeed arrived. And looking at our most recent survey results, the summer doldrums have arrived as well.

Domestic steel shipments increased in May month over month but have fallen on-year.

SMU’s Steel Buyers’ Sentiment Indices dropped this week, with Current Sentiment plummeting to a level not seen since the Covid-19 pandemic, according to our most recent survey data.

Sheet steel buyers found mills more willing to negotiate spot pricing this week, according to our most recent survey data.

Cornerstone Building Brands agreed to buy Mueller Supply Co. for $475 million, according to a Form 8-K filing with the US Securities and Exchange Commission (SEC) on July 1.

Cornerstone Building Brands is set to buy Mueller Supply Co., a manufacturer of residential metal roofing and components and steel buildings in Texas and the Southwest.

Looking out over the American economy, Triple-S Steel Holdings CEO Gary Stein believes what is required doesn’t fundamentally have to do with government policy. “Rather, it’s a mind shift.”

July is less than a week away, which means SMU’s Steel Summit in August is just around the corner.

The Congressional Steel Caucus have expressed concern regarding the US government’s potential trade status change for Vietnam.

The Canadian Steel Producers Association (CSPA) has lauded Canada’s decision to launch an investigation into China’s unfair trade practices in electric vehicles (EVs). However, the association hopes the government will go even further and extend the investigation into other sectors.

Worthington Steel’s earnings slipped in its fiscal fourth quarter while sales ticked up.

Mill Steel Co. has named Evan Keebler as VP of sales for its construction segment.

Algoma executives reiterated that operations are proceeding as normal following an unplanned BF outage earlier this year.

The city of Quincy, Wash., in Grant County is being considered among possible locations for Nucor’s proposed rebar micro-mill in the Pacific Northwest, according to a local report.