Housing starts climb in November as interest rates fall
US housing starts jumped in November on lower interest rates stimulating home buying, according to the most recent data from the US Census Bureau.
Contributor: Ethan Bernard
Ethan Bernard
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AISI: US raw steel output inches up 1%
US steel production increased for the week ended Dec. 16, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 18.
US senators Vance, Fetterman oppose USS sale to Nippon Steel
US Sens. JD Vance (R., Ohio) and John Fetterman (D., Pa.) have come out against the sale of U.S. Steel to Japan’s Nippon Steel.
Canacero hits back at claim of 'surge' of Mexican steel imports
Mexican steel association Canacero has responded to a Dec. 13 letter from US senators, and disputes the claim of a “surge” of Mexican steel imports.
Tampa Steel Conference is just around the corner
The 2024 Tampa Steel Conference is coming up soon after the kickoff of 2024. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.
SDI sees lower Q4 earnings, but steel order activity 'solid'
Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings sequentially and on-year, though the company said “steel order activity remains solid.”
US senators call for deadline on Mexican steel export monitoring agreement
A bipartisan group of US senators has written a letter requesting a clear deadline for an export monitoring agreement of Mexican steel products into the US market.
HRC vs. busheling spread widens in December
The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.
UAW's Fain gives plan for unionizing non-union auto workers
United Auto Workers President Shawn Fain outlined the union’s strategy to unionize nonunion auto workers in the US.
Domestic scrap tags soar in December
US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU.
Final thoughts
‘Twas two weeks before Christmas, and at our publication We kept logging steel price increases from across our fair nation.
SMU survey: Buyers Sentiment Indices slip
SMU’s Current and Future Steel Buyers Sentiment Indices both fell during the week of Dec. 6, based on our most recent survey data.
SMU survey: Mills more willing to talk price on sheet, less on plate
The percentage of steel buyers saying mills were willing to budge on spot pricing has risen for all sheet products SMU surveys, according to our most recent survey data.
VW workers in Tennessee start campaign to join UAW
Volkswagen USA Workers in Chattanooga, Tenn., have launched a campaign to join the United Auto Workers (UAW) union.
Final thoughts
Following the United Auto Workers (UAW) union strike, organized labor seems to be enjoying a moment.
Worker dies at Nucor Steel Indiana
A contract worker suffered a fatality on Friday, Nov. 24, at Nucor Steel Indiana’s Crawfordsville sheet mill.
American steel firms' fundamentals sound for 2024: Fitch
Sector fundamentals for US steel companies remain solid overall, according to ratings agency Fitch’s 2024 outlook report.
Domestic scrap tags seen increasing in December
US scrap prices are expected to rise in December, industry sources told SMU.
SMU survey: Steel Buyers Sentiment Indices rise
SMU’s Current and Future Steel Buyers Sentiment Indices have both increased, based on our most recent survey data as of Wednesday, Nov. 22.
USS idles iron, steelmaking 'indefinitely' at Granite City Works
U.S. Steel said it has indefinitely idled steelmaking at its Granite City Works in southern Illinois near St. Louis.
SMU survey: Mills less willing to talk price on sheet, plate
The percentage of steel buyers saying mills were willing to negotiate spot pricing has fallen for all products SMU surveys, according to our most recent survey data.
Algoma VP of sales Brandow to retire
Canadian steelmaker Algoma has announced the retirement of its VP of sales Rory Brandow, effective Dec. 1.
Durable goods orders slip in October
New orders for manufactured durable goods fell in the US in October.
Final thoughts
Sometimes a journalist’s life comes with unexpected perks. That is, beyond the day-to-day of writing stories, a wayward email can come across the Inbox with an attractive invite, and the promise of free food.
UAW, automakers cheer ratified labor pact
The United Auto Workers (UAW) union has released the final tally of member votes, with a combined total of 64% voting in favor of labor agreements across the Detroit-area “Big Three” automakers.
Ford, Stellantis On Verge of Ratifying UAW Contracts
United Auto Workers (UAW) union members seem poised to ratify contracts at Ford and Stellantis, according to UAW vote trackers and media reports.
HRC, Prime Scrap Gap Widens in November
The spread between HRC and prime scrap prices widened considerably this month, according to Steel Market Update's most recent pricing data.
SMU Community Chat: Steel's Place in the EV Transition
On SMU's Nov. 15, 2023, Community Chat, the CEO of the Center for Automotive Research discussed steel's role in the automotive industry's transition to EVs.
Glencore Set To Buy Majority Stake in Teck's Met Coal Business
Canadian miner Teck Resources has announced the sale of its metallurgical coal business, Elk Valley Resources, with Swiss miner Glencore becoming the majority stakeholder.
US Scrap Tags Up in November, Momentum Could Carry Into February
Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said.