Contributor: Kristen DiLandro

Recent conversations with some hot-rolled coil spot market participants revealed spiking stress levels amidst a tightening supply of the steel sheet product.

Cleveland-Cliffs (Cliffs) and the United Steelworkers (USW) labor union plan to discuss capital expenditures (capex) as part of their ongoing master contract negotiations.

In recent conversations, some participants predict mill maintenance outages and scheduled updates will crimp an already constricted market.

Recent master contract negotiations between the United Steelworkers (USW) and U.S. Steel (USS) highlight workforce safety measures.

SunCoke Energy's second-quarter financial report showed strong sequential and year-over-year improvements.

The United Steelworkers (USW) informed members it continues bargaining with Cleveland-Cliffs about both the union's Training Committee and the Contracting Out Committee.

U.S. Steel has flagged job loss among its concerns with a proposal presented by the Gary Common Council in Indiana.

Algoma Steel narrowed its earnings loss by 13.2% in the second quarter as the company's electric-arc furnace (EAF) steelmaking ramped up further.

Hot-rolled coil market participants continue to see spot prices rise alongside the popularity of the beloved, short-spined Seattle raccoon this summer. 

Nucor has completed its steel utility structure manufacturing facility and its transmission tower expansion project in West Hazleton, Pa.  

Hanwha Ocean has not definitively pulled its plans in Canada.

Sources across the hot-rolled coil spot market said it was somewhat easier to find spot HR, at moderately shorter lead times, and at stable prices in recent days. 

Reliance Inc said that US government industrial policies contributed to its second-quarter financial success.

Strong steel prices and elevated interest rates may be reshaping the competitive landscape among metals distributors.

Celso Goncalves has been promoted to president and chief financial officer and appointed to the Cleveland-Cliffs board of directors.

Kenwal Steel has promoted Douglas A. Bredy to the newly created position of chief commercial officer (CCO).

Spot market absorbs price hikes amidst booming plate demand 

USW pushes back on preliminary contract updates amid USS negotiations.

The galvanized steel market isn't surging anymore; it's grinding.

Some hot-rolled coil market participants said they're optimistic that the market will remain strong throughout the rest of the year. 

Despite persistent pricing uncertainty, the Fed's latest Beige Book reported that the US economy continued to expand at a modest pace with labor market conditions improving.

Some domestic plate market sources expect spot price rises through the end of the year due to prolonged supply constraints.

SSAB will not renew the lease for its Toronto cut-to-length facility and plans to permanently discontinue operations later this year.

Some domestic hot-rolled coil market participants say they expect prices for hot-rolled coils to remain stable through the end of 2026.  The market participants predicted that mills would hold spot prices and incrementally tighten lead times. Continuing, that they’ll find imported product arrivals, experience seasonal demand dips and all conditions will culminate in stable prices throughout the summer.   Asked […]

On the heels of SSAB’s price hike, further domestic mill increases to spot market plate seem inevitable to some participants but unlikely to others. 

The American Iron and Steel Institute (AISI) reports that US mill shipments increased 6.2% in May from April. 

USW and Cleveland-Cliffs to begin master negotiations on July 20.

Hot-rolled coil spot market participants told SMU they see no evidence of the market softening in the near term.  

Limited spot product and extended lead times continue to characterize the domestic plate market, prolonging upward price pressure.

The Chicago Business Barometer decreased by 6.0 points to 56.7 in June.