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 […]
United Steelworkers labor negotiations with ArcelorMittal are yielding little progress, said an update from the USW to members on Friday. “From local issues to major economics, ArcelorMittal has resisted engaging in meaningful dialogue,” said the communication. USW officials complained that the delays could be a “tactic to undermine the bargaining process” as the Sept. 1 […]
ArcelorMittal USA probably surprised some customers with their announcement of a $30 per ton price increase on cold rolled and coated products. My opinion is ArcelorMittal is trying to increase the spread between the hot rolled base price and that of cold rolled and coated products. I also think they are trying to boost base […]
ArcelorMittal Indiana Harbor suffered an incident on Saturday, Aug. 4, that has shut down its No. 3 blast furnace (IH3) for an estimated two weeks. A company spokesperson reports that process alarms indicated a filling problem on the blast furnace around 5:45 p.m. The furnace was safely shutdown at 6:10 p.m. An initial investigation determined […]
ArcelorMittal Indiana Harbor suffered an incident on Saturday, Aug. 4, that has shut down its No. 3 blast furnace (IH3) for an estimated two weeks. A company spokesperson reports that process alarms indicated a filling problem on the blast furnace around 5:45 p.m. on Saturday, August 4th. The furnace was safely shutdown at 6:10 p.m. […]
The takeover of Italian steel mill Ilva by ArcelorMittal has encountered another snag. Deputy Prime Minister Luigi Di Maio said he is still not satisfied by the environmental and jobs plan proposed by the steelmaker and will suspend talks until a better offer is submitted. Di Maio said talks could continue later in the week. […]
As a multinational business with a plant in the United States, should NLMK USA have a right to import slabs tariff-free from its parent company in Russia over the objections of domestic steel producers? The Trump administration maintains that steel imports, including Russian slabs, are a threat to the U.S. steel industry and thus national […]
Are imports of semifinished steel a threat to U.S. national security? Apparently, that depends on the political environment at the time. The controversy over the Trump administration’s Section 232 tariffs is not a new debate. Restrictions on steel imports were on the table in 2001 during the Bush administration. Contrary to today, the Commerce Department […]
Earnings week for the steel industry revealed trade was foremost on the minds of steel executives. The steel mills expressed their approval of the administration’s tariff action that has boosted steel pricing and, along with higher demand, earnings for the second quarter of 2018. • U.S. Steel Corp. CEO David Burritt was a strong advocate […]
Negotiations between United Steelworkers and ArcelorMittal continued last week with counter proposals from management to the proposal submitted by the USW negotiating committee. “On Thursday, ArcelorMittal responded to our initial contract proposal with predictably unacceptable counter offers limited to certain issues, so our work will continue as we bargain for a fair contract,” said a […]
ArcelorMittal NAFTA posted sales of $5.4 billion for the second quarter of 2018, a jump of 12.7 percent from the first quarter. Steel shipments increased by 4.4 percent to 5.8 million metric tons. Improved results were driven by strong market demand and higher shipment volumes. NAFTA segment EBITDA rose 19.6 percent year-over-year. NAFTA segment crude […]
Many steel buyers, and investors in steel futures, are betting that steel prices will follow the typical seasonal pattern and decline in the last few months of the year, even with the Trump tariffs boosting the market. While that may prove true for flat roll, it will most likely not be the case for steel […]
I understand from steel buyers there are some mills looking for business – especially on galvanized. There has been some very minor slippage ($10/ton) with some mills’ base pricing. Not enough to drive numbers lower than what we published on Tuesday. There are some service centers getting aggressive with coated steel spot pricing to their […]
I am back in my office and will be here for the balance of the week. Diana is back as well and will be in her office until we leave for Atlanta at the end of August. Graber Post Buildings, Esmark, CMC Impact Metals, North American Steel Alliance, Fluor, Whirlpool Corporation, Metal One America, Gateway […]
We have passed through 750 registrations for the 2018 SMU Steel Summit Conference, which is now 39 days away! Graber Post Buildings, Esmark, CMC Impact Metals, North American Steel Alliance, Fluor, Whirlpool Corporation, Metal One America, Gateway Terminal, Argus Media, USS/Posco, Steel & Pipe Supply, JN Linrose Mfg., ArcelorMittal Dofasco, LISSMAC Corporation and Cooper Consolidated […]
Contract negotiations for United Steelworkers at mills in the U.S. are kicking off with an initial proposal on Monday from ArcelorMittal to its USW-represented locations. According to a USW press release, members will have “much work to do” to counter major economic and non-economic concessions requested by the company, which the USW says would “negatively […]
My understanding is the salespeople at the former CSN Terre Haute, Ind., steel mill will remain with Steel Dynamics. SDI did something similar when they purchased what is now SDI Columbus, Miss. I have heard that Paul Navetta is the sales manager at SDI Terre Haute. I also understand that Jerry Richardson will remain with […]
ArcelorMittal’s acquisition of Italian steel plant Ilva has been delayed until Sept. 15 as government officials continue to review terms of the deal. ArcelorMittal has agreed to buy and fix the pollution plagued mill from the Italian government for €1.8 billion ($2.1 billion). The company said it will invest €2.3 billion ($2.7 billion) to fix […]
ArcelorMittal Dofasco CEO Sean Donnelly told Ottawa lawmakers that U.S. tariffs may force the company to lay off 1,000 workers and reconsider investments totaling $564 million. During testimony at a special meeting of the House International Trade Committee, Donnelly and other steel manufacturers asked the government to hold firm on retaliatory tariffs against the United […]
ArcelorMittal claims a new approach to construction that will create a more sustainable life-cycle for buildings. The company has launched Steligence®, a concept that looks at buildings as holistic entities where all aspects of the design are considered in an integrated way, as part of the whole. The concept requires improved dialogue between architects and […]
U.S. steelmakers filed trade cases this week on cold rolled and corrosion resistant (CORE) steels alleging that Korea and Taiwan are guilty of using the same circumvention tactics as the Chinese–namely sending hot rolled and cold rolled substrate to Vietnam. As many predicted, the Commerce Department’s recent Chinese circumvention ruling has set a precedent that […]
ArcelorMittal Mexico is requesting that government officials impose permanent tariffs on the import of steel slabs into Mexico from non-free-trade agreement countries. “Mexican slabs are without protection and we are working jointly and permanently with the SE to find a mechanism that could protect domestic production of slab from imports, which are impacting our ability […]
ArcelorMittal announced the retirement of Robrecht Himpe, executive officer and executive vice president. A 37-year veteran of ArcelorMittal, Himpe will retire from his duties as a member of ArcelorMittal’s executive management committee and as CEO, ArcelorMittal North America and CEO, AM/NS Calvert on July 1, 2018. Himpe joined the group’s Gent operations in 1981. After […]
The Canada Border Services Agency initiated an investigation on May 25 into the dumping and subsidizing of certain cold-rolled steels in coils or cut lengths from China, South Korea, and Vietnam. The investigation was prompted by a complaint from ArcelorMittal Dofasco. Cold rolled imports under the investigation increased from 85,075 metric tons in 2015 to […]
Marking a win for U.S. steelmakers, the Commerce Department on Monday officially slapped duties on corrosion-resistant steel (CORE) and certain cold rolled steel products imported from Vietnam that were produced from substrate originating in China. Commerce determined that even though the products underwent some processing in Vietnam, they should still be subject to the same […]
Marking a win for U.S. steelmakers, the Commerce Department on Monday officially slapped duties on corrosion-resistant steel (CORE) and certain cold rolled steel products imported from Vietnam that were produced from substrate originating in China. Commerce determined that even though the products underwent some processing in Vietnam, they should still be subject to the same […]