Chicago Business Barometer cools in June
The Chicago Business Barometer decreased by 6.0 points to 56.7 in June.
Tag: US
Sheet buyers say high prices, tight supplies could invite imports
Some hot-rolled coil buyers expect continued incremental price increases from domestic mills. Others expect steeper increases, even if it risks inviting imports.
CRU: US extends sanctions on Cuba’s metal-mining sector
Washington added long steel producer Antillana de Acero and state-owned mining company Geominera to its list of sanctioned companies in Cuba.
Greer Steel rebrands as Ohio Strip Steel
“Ohio Strip Steel reflects who we are today and where we’re going,” the Dover, Ohio-based company said.
Worthington Steel flags interest rates, outlines debt reduction plans
During Worthington Steel’s fiscal fourth-quarter earnings call on June 25, company executives cited interest rates as a market headwind.
Some plate market sources see spot price increases ahead
Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations.
USW sends agenda updates ahead of USS negotiations
During its upcoming contract negotiations with U.S. Steel (USS), the United Steelworkers (USW) labor union will address wages, retirement, contracting out, health & safety, training, and job security.
Leeco Steel makes regional operations manager changes
Leeco Steel has announced changes to two regional operational manager positions.
Nucor increases spot HR price by $5/ton
Nucor announced on Monday, June 22, that its consumer spot price (CSP) for hot-rolled coil will be $1,130 per short ton for the week, up $5/st from last week.
Price: Cliff or crossroads, what lies ahead for USMCA?
As the US enters negotiations and possible annual reviews of the USMCA, policymakers should preserve the S232 tariffs, which have clearly been necessary to protect the US steel industry.
South Korea surges past Canada as top US steel supplier
South Korea has overtaken Canada as the top foreign supplier of steel to the US market.
HR market sources content with contract volumes, seeking out spot
Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU.
Plate market sources warn availability squeeze has knock-on effects
Some domestic plate market participants recently voiced concerns that current market conditions will impact fabrication and manufacturing, which rely on steady product supply.
USW says healthcare most important issue for members in contract talks
“The issue we heard most about is healthcare. You were loud and clear at every location and in the surveys that maintaining our healthcare benefits is a top issue," the USW said.
SMU Steel Demand Index moves higher
SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.
US manufacturing activity continues expansion for 5th consecutive month: ISM
May was the fifth consecutive month of expansion for the US manufacturing sector, according to the most recent Institute for Supply Management (ISM) report.
Bull Moose Tube agrees to acquire Hanna Steel
Bull Moose Tube Co. and Hanna Steel Corp. have reached an acquisition agreement, which will expand Bull Moose’s manufacturing footprint and add new tubing, coating, and logistics capabilities.
UAW votes to ratify new agreement with Dauch/American Axle, strike ends
The United Autoworkers (UAW) local 2093 voted 80% in favor of ratifying the latest contract agreement between the union and American Axle/Dauch Corporation.
Plate market anticipates spot price hikes through summer
Spot market participants recently told SMU they foresee additional plate price rises for domestically made products.
CRU: Global sheet prices diverge, USA stands out with gains
Sheet prices in the USA continued to move higher over the past month as supply remained tight in the country
HR buyers remain hopeful imports can meet spot demand
Some domestic spot market buyers say they're seeking imported hot-rolled (HR) coils.
AISI: Domestic steel shipments slip in April
The American Iron and Steel Institute (AISI) reports that US steel shipments fell from March to April.
USS study projects millions in tax revenue for Pennsylvania via Mon Valley upgrade
Over the next three years, U.S. Steel’s investment to upgrade its hot strip mill at Mon Valley is projected to result in over 6,000 jobs and $58 million in tax revenue, according to an economic impact study conducted by the Parker Strategy Group.
US cold-rolled group responds to Mexico trade case
The Association of Cold Rolled Specialty Steel (ACRSS) officially responds to the formal investigation Mexico opened into cold-rolled steel imports from the US
SMU scrap market survey results now available
SMU’s June ferrous scrap market survey results are now available on our website to all premium members.
CSPA: One-year of US tariff increases mark ‘unfortunate milestone’
Catherine Cobden, President and CEO of the Canadian Steel Producers Association (CSPA) called the past year’s 50% tariff imposed on Canada’s steel exports to the US ‘severe and unsustainable.’
Plate market says, 'the heat is on,’ as prices and demand soar
Participants in the plate market doubt prices, lead times, and demand forces will cool down any time soon.
Failed labor pact sparks UAW strike at one of GM's key suppliers
Members of the United Autoworkers (UAW) Local 2093 went on strike at the Dauch Corp.'s (formerly named American Axle and Manufacturing) Three Rivers, Mich., facility on Monday.
Canadian Steel Producers Association president and CEO stepping down July 31
Canadian Steel Producers Association President and CEO stepping down July 31.
Hot-rolled coil market participants accept delays, price increases
Participants in the hot-rolled coil spot market revealed that growing discomfort with current market dynamics hasn't deterred them from conducting spot transactions.