So, we have our service center inventories at 2.5 months of supply, down slightly from the 2.6 months we got from our distributor data suppliers the previous month. This is not from our survey; we decided to put that data aside as it was suspect – it had both buyers and sellers contributing to the […]
GFG Alliance’s purchase of Keystone Consolidated Industries this week was the latest move by British industrialist Sanjeev Gupta to become a leading producer of both long and flat steel products in the United States. GFG Alliance has been buying up steel, aluminum and energy assets around the world. On Monday, its Liberty Steel USA division […]
Andy Gross is placing a big bet on his company and on a new community—a wager he is confident will pay off. The president of Alliance Steel is making a $19 million investment to move his service center operation some 40 miles east from Chicago’s south side to Gary, Ind. He hopes to be operational […]
United Steelworkers have ratified a new four-year contract with ArcelorMittal three months after their last contract expired. The new labor agreement raises wages by about 14 percent over the next four years while improving benefits, retirement provisions and contract language. The agreement covers roughly 15,000 hourly workers at 14 facilities in Illinois, Indiana, Ohio, Pennsylvania […]
United Steelworkers voted overwhelmingly to ratify a new four-year contract with U.S. Steel. Workers will receive a 14 percent raise over the life of the contract, while keeping affordable health care coverage and gaining stronger retirement benefits. “In 2015, workers recognized that the steel industry was struggling and agreed to make sacrifices so that U.S. […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
ArcelorMittal expects no disruption in service as a result of a minor fire at its Indiana Harbor 4 Steel Producing (4SP) operation on Monday afternoon. One employee was treated for minor burns following a fire that resulted when slag was dumped onto an area containing water. “Indiana Harbor 4SP remains in production, and we do […]
ArcelorMittal expects no disruption in service as a result of a minor fire at its Indiana Harbor 4 Steel Producing (4SP) operation on Monday afternoon. One employee was treated for minor burns following a fire that resulted when slag was dumped onto an area containing water. “Indiana Harbor 4SP remains in production, and we do […]
United Steelworkers and ArcelorMittal have reached a tentative agreement on a new four-year labor contract after months of negotiating. USW International President Leo Gerard and USW District 1 Director David McCall praised the union’s hard work, dedication and solidarity during the bargaining period. “Through their hard work and sacrifices to improve the productivity and efficiency […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Summary of Section 232 Exclusion Data As of early October, according to a comprehensive analysis by the Mercatus Center at George Mason University, there have been 30,916 tariff exclusion requests for steel products. There have been 14,356 objections, […]
United Steelworkers and ArcelorMittal have reached a tentative agreement on a new four-year labor contract after months of negotiating. USW International President Leo Gerard and USW District 1 Director David McCall praised the union’s hard work, dedication and solidarity during the bargaining period. “Through their hard work and sacrifices to improve the productivity and efficiency […]
The threat of any disruption at either U.S. Steel or ArcelorMittal USA is now off the table as AMUSA has reached a tentative deal with the United Steel Workers. U.S. Steel had reached an agreement a couple of weeks earlier. Now the industry focus is going to be on how much supply is coming online […]
ArcelorMittal Group third-quarter net income dropped by nearly half to $0.9 billion from $1.9 billion in the second quarter and declined 25 percent from $1.2 billion a year ago. EBITDA fell 11.2 percent from the second quarter to $1.7 billion due primarily to lower steel shipments and high inflation rates in Argentina, the company said […]
Contentious issues continue to stymie negotiations between United Steelworkers and ArcelorMittal. Although progress has been made toward a new labor agreement, USW officials say the union remains at odds with the company over a number of proposals including those regarding profit sharing and pensions. “Our union is dedicated to seeing this process through to the […]
Joint partners ArcelorMittal and Nippon Steel & Sumitomo Metal Corp. have been approved by creditors to acquire Essar Steel India Limited (ESIL) for an upfront payment of 42,000 crore rupees and investment of 8,000 crore rupees to improve operations (about $5.7 billion and $1.1 billion in U.S. dollars). ESIL, an integrated flat steel producer, is […]
The United Steelworkers and ArcelorMittal USA still have not signed a collective bargaining agreement despite the USW coming to terms with U.S. Steel and Cleveland Cliffs. Union members at ArcelorMittal USA have been working under an extended contract since Sept. 1. The following statement was issued by John Brett, president and CEO, ArcelorMittal USA: On Friday, […]
ArcelorMittal Dofasco will receive up to $38 million from the Canadian government towards a $156 million modernization project at its Hamilton facility. The money is part of a C$250 million (U.S. $191 million) fund set up to provide support to steel, aluminum and manufacturing companies impacted by tariffs resulting from the Section 232 measures imposed […]
Details are beginning to leak about the tentative four-year labor contract between the USW and U.S. Steel. Workers will get a 14 percent raise spread across a four-year period, according to Reuters sources. That will be biggest pay raise the steelworkers have seen in several years. No increase was included in the last contract and […]
Negotiations between United Steelworkers and ArcelorMittal have stalled on demands for deep concessions that workers consider unfair and unnecessary. USW members agreed to not take a wage increase during the last three-year contract and have had a total wage increase of 4.5 percent since 2012, despite inflation increasing 8 percent. Other industries have seen wages […]
ArcelorMittal announced a binding offer from Liberty House Group for the purchase of ArcelorMittal Ostrava (Czech Republic), ArcelorMittal Galati (Romania), ArcelorMittal Skopje (Macedonia) and ArcelorMittal Piombino (Italy). The transaction is part of a divestment package agreed to by ArcelorMittal with the European Commission for the €1.8 billion acquisition of Italian steel mill Ilva. The ArcelorMittal […]
No one was injured as a result of a small fire at a conveyor belt at ArcelorMittal Cleveland, which was was brought under control by the Cleveland Fire Department on Thursday. The company said it does not expect the incident to affect production at the mill. Firefighters used foam to extinguish flames that persisted for […]
On the heels of the price hike announced by Nucor yesterday, the other major sheet mills followed suit today raising spot prices on flat rolled steel products by $40 per net ton. Customers were notified of the increase by ArcelorMittal USA, U.S. Steel, California Steel Industries and USS-POSCO Industries. California Steel Industries told customers it […]
California Steel Industries, NLMK and Evraz have filed rebuttals to objections made by U.S. Steel, Nucor and AK Steel to their petitions requesting exclusions for steel slab imports necessary for production. The slab converters charge that domestic mills have misled Commerce in their objections, overstating the current availability of domestic slab and the capacity to […]
Labor negotiations at ArcelorMittal have slowed after making some progress last week. A United Steelworkers update said the union will hold firm against company demands for concessions from members or retirees. The USW negotiating committee at U.S. Steel also reported some progress during discussions last week. Talks are expected to continue this week in Pittsburgh […]
United Steelworkers say there is progress in labor negotiations with ArcelorMittal and U.S. Steel, but significant differences remain between the union and management. Said the USW-ArcelorMittal committee in its negotiation update on Oct. 4: “Again, our committee still has a lot of work to do on the issues that remain before we can present a […]
Despite moderating prices, the outlook for the U.S. steel market is generally favorable for 2019, reported Josh Spoores, CRU Principal Analyst for North America, during a CRU Webinar on Friday. The Trump administration’s Section 232 steel tariff has limited competition from steel imports this year. Steel sheet arrivals into the U.S. are down 12 percent […]
Cleveland Cliffs and the United Steelworkers have reached a tentative agreement on a new four-year labor contract that is effective as of Oct. 1, 2018. Lourenco Goncalves, Chairman, President and CEO, stated, “We are pleased to reach a new labor contract that is fair and equitable to both parties and provides Cliffs a competitive cost […]
United Steelworkers at ArcelorMittal are preparing for a strike after failing to reach agreement with management over proposed concessions. “Although management certainly received the loud and clear message that we are united in solidarity and ready to fight for the fair contracts we have earned and deserve, the company continues to propose unfair and unnecessary […]
United Steelworkers are edging closer to strikes at U.S. Steel and ArcelorMittal. Workers at both companies have voted overwhelmingly to authorize negotiators to call a strike after providing 48 hours notification. “Time is running out. From day one, U.S. Steel has built a series of proposals to try to split our union by throwing sparkles […]