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    Contributor: Ethan Bernard

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

    Read more from Ethan Bernard

    SMU Survey: Mill negotiability rate remains at lowest level since 2021

    The vast majority of steel buyers responding to our latest market survey found mills unwilling to negotiate lower prices for spot tons. This holds true for all the products SMU tracks. Every two weeks, SMU surveys service center and manufacturer buyers asking if mills are negotiable on new spot sheet and plate orders. In this week’s survey, 9% of respondents said mills were willing to talk price to secure an order (Figure 1). This is the third consecutive survey at that rate. You'd have to go back to September 2021 to find a lower number.

    Worthington moves closer to full Kloeckner integration

    Worthington Steel marked another step in its takeover of Kloeckner & Co. The Columbus, Ohio-based service center group announced on Sept. 8 that it had signed a domination and profit-and-loss transfer agreement (DPLTA) with Kloeckner. This was pursuant to the rules of the German Stock Corporation Act (AktG). The DPLTA continues the process of integrating the German service center group. This follows Worthington’s successful voluntary takeover offer for Kloeckner in June and the delisting of Kloeckner shares on the regulated market of the Frankfurt Stock Exchange, effective Aug. 12.

    FabArc Steel Supply provides material for Texas solar project

    FabArc Steel Supply has provided 3,374 tons of steel to a large solar project in Rockdale, Texas. The Oxford, Ala.-based steel subcontractor supplied the material for G2_Austin Solar Cell Fab, a solar cell operation in Rockdale, northeast of Austin. The project is owned by energy solutions provider T1 Energy Inc., and the first phase represents a $400 to $425 million investment. It’s expected to create up to 1,800 manufacturing jobs in Milam County, Texas.