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 […]
As I mentioned in a recent newsletter, comments received from our readers will many times lead to an article, or even a series of articles. One of our goals is to dig into topics of interest to our readers from as many angles as possible, and then allow you to make your own conclusions. For […]
First, I must warn steel buyers that the USW may be losing patience with U.S. Steel and ArcelorMittal USA. We are monitoring the individual locals and we will report when we think something is going to break. The question right now is how long a leash is the union offering? As I said the other […]
Distributors of products for the HVAC sector are keeping a tight rein on inventories as pricing for galvanized steel continues to weaken. The wholesalers are seeing pressure from customers postponing orders in anticipation of better prices down the road. “It appears customers are living hand to mouth, waiting to place any large orders until they […]
Thirteen local unions representing United Steelworkers at ArcelorMittal voted unanimously to authorize the USW negotating committee to call a strike. The USW says the latest contract proposal is not fair to employees and contains too many concessionary demands that would wipe out any pay increases. “ArcelorMittal is trying to convince us that we should ignore […]
I am in Middletown, Ohio, having spent the day at AK Steel’s Research and Innovation Center as part of our new Steel 201 training workshop. The facility is impressive both in physical beauty as well as the operations and people working there. Our class is being held in an auditorium that seats about 70 people […]
ArcelorMittal workers are contemplating a strike authorization after labor negotiations stalled last week. The USW complains that the company’s proposal does not measure up to the financial success that union workers helped ArcelorMittal achieve. “Rather than engaging in good faith negotiations for a fair contract, management continues to bring the same 2015 backward thinking proposals […]
ArcelorMittal has moved closer to finalizing its acquisition of Italian mill Ilva Steel. The company announced on Thursday that it has reached a provisional labor agreement with Ilva’s trade union. The agreement includes a commitment to employ 10,700 workers through 2020 based on their existing employment contract, as well as another 2,000 that remain employed […]
Collective bargaining agreements for USW members at U.S. Steel and ArcelorMittal expired on Sept. 1. Workers at both companies will continue under an extended contract agreement while negotiations proceed. ArcelorMittal posted the following statement on their website: “ArcelorMittal appreciates the United Steelworkers’ willingness to continue working under current contracts while negotiations proceed. We believe this […]
The United Steelworkers’ negotiating committee for U.S. Steel employees will be returning home to present informational meetings to members and seek a strike authorization vote. U.S. Steel’s demand for a six-year contract with deep concessions and minimal wage increases has been rejected by the USW bargaining committee. The offered bonus and wage increase in the […]
United Steelworkers have not reached a collective bargaining agreement with ArcelorMittal or U.S. Steel with just one day remaining before the current contracts expire. As union officials consider their options, including a possible strike, marches and rallies were planned for Thursday, Aug. 30, at ArcelorMittal and U.S. Steel locations to show union solidarity. “Steelworkers have made […]
United Steelworkers called the latest contract proposal from U.S. Steel an “insult.” The proposed seven-year labor agreement ties any future wage increases or economic adjustments to profit-sharing and bonus schemes, said the USW. “After our many sacrifices and diligent work to keep this company in operation through tough times, and the misery our members have […]
Labor agreements for United Steelworkers at ArcelorMittal and U.S. Steel are set to expire on Sept. 1, but union officials say there has been “little progress on core issues.” In its Aug. 17 update to members, the USW wrote: “Negotiations continued with ArcelorMittal this week in Pittsburgh, and as has been the case since our […]
A couple of months ago, Steel Market Update was speaking in front of a group from the financial community. We were asked, “What do you look for as a sign when prices are about to change direction?” Our answer was a mill price increase announcement. Earlier this week, ArcelorMittal USA announced a $30 per ton […]
We saw flat rolled steel prices as being lower this week compared to one week ago. As we reported last week, we are seeing lead times shortening and the mills more active and willing to discuss price during their negotiations. The ArcelorMittal USA price announcement on cold rolled and coated products is not a sign […]
Mills historically have enjoyed a healthy price premium for cold rolled and galvanized products over hot rolled, at times reaching as high as $220 per ton. More recently, due to the tight supplies of hot rolled, the differential has dipped as low as $80 per ton, prompting at least one mill to act. ArcelorMittal USA […]