Tag: Cleveland-Cliffs

If you think prices will continue to rise, you might point to longer lead times and stable order entry.

The US Department of Energy announced seven projects that will receive $7 billion in funding to establish regional hydrogen hubs across the country.

Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.

SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]

US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.

The US Department of Commerce has issued its final ruling in an expedited sunset review of antidumping duties on imports of tin mill products from Japan.

Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.

The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.

What has happened since the August hot rolled (HR) settlement ($767 per short ton)?

US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.

Did the price increase announced by Cleveland-Cliffs last week stick? Yes, at least partially.

Cleveland-Cliffs has signed a non-disclosure agreement with U.S. Steel as the latter continues with its strategic review sales process.

Will the sheet price hike announced by Cleveland-Cliffs (and quietly followed by at least some mills) stick?

I didn’t see the Cleveland-Cliffs price increase coming on Wednesday. And I didn’t expect to see a target base price of $750 per ton ($37.50 per cwt) for hot-rolled coil. But I’ve since heard that other mills, even if they hadn’t publicly announced anything, had been quietly raising prices before Cliffs publicized its increase. Are […]

Cleveland-Cliffs is increasing its sheet tags, setting a new base price for hot-rolled coil, effective immediately, the company said in a press release on Wednesday, Sept. 27.

The United Steelworkers International (USW) executive board on Tuesday appointed David McCall as the union’s new international president. He will fill the remainder of Tom Conway’s term.

Tom Conway, international president of the United Steelworkers (USW) union since 2019, has died at age 71.

We’ve been busier than usual lately covering two major events (in addition to our pricing and data services) – the potential sale of U.S. Steel and the United Auto Workers (UAW) union strike. Let’s review some possible developments in each. U.S. Steel Sale – Back in the Headlines We learned last week that Stelco had […]

Cleveland-Cliffs said on Friday its United Steelworkers (USW) union employees at its Northshore Mining operations in Minnesota have ratified a new three-year labor agreement.

Cleveland-Cliffs Inc. and the United Steelworkers (USW) at Cliffs’ Northshore Mine in Minnesota have reached a tentative labor agreement.

U.S. Steel’s ‘strategic alternatives’ process is continuing. This week the Pittsburgh-based steelmaker confirmed to shareholders that it has entered into nondisclosure agreements (NDAs) and has begun due diligence on a potential sale.

I headed back to the Atlanta airport after Steel Summit in 2022 hoping to catch up with a few colleagues and contacts only to learn that Cleveland-Cliffs had just announced a price hike. So, I set everything aside, opened up my laptop, and filed a short article about the $75-per-ton ($3.75-per-cwt) price increase from a […]

Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.

I learned a lot at Steel Summit this year. More than I can do justice to in one column. Below are four things that have stayed with me after the conference closed on Wednesday afternoon. Another, as I highlighted earlier this week, was electricity – who gets it, and which energy sources we use. 1. […]

Cleveland-Cliffs has laid out a path forward for its potential purchase of U.S. Steel.

Esmark has withdrawn its bid for U.S. Steel.

At every Steel Summit, a few themes seem to emerge that I didn’t anticipate. In 2021, I remember the theme being that scrap would be the next precious metal. (And also that Cleveland-Cliffs planned to expand in to the scrap market.) This year, I expected that there would be a lot of discussion about decarbonization. What I didn’t entirely expect was that we’d be talking so much about electricity and power generation.

A wide-ranging discussion on the SMU Steel Summit 'Domestic Steel Panel: Investing for the Future' saw executives from leading steel companies debate the likelihood of passing on a surcharge to consumers for products with lower CO2 content.

I’m excited to see pretty much the entire steel industry this week in Atlanta. I’m looking forward to the networking and to learning from our great lineup of speakers. I also what not draw your attention to some highlights from our latest steel market survey. (Full results are here.) Some of these topics will be discussed along the sidelines as well as up on the stage.

The United Steelworkers (USW) union is standing firm in its backing of Cleveland-Cliffs’ bid for U.S. Steel.