Steel Mills
Company Statements Regarding USW Contract Negotiations
Written by Sandy Williams
September 4, 2018
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 demonstrates both parties’ commitment to negotiating in good faith to achieve a mutually beneficial agreement. Due to the confidential nature of negotiations, we are not at liberty to discuss topics being negotiated.”
Meetings by United Steelworkers at U.S. Steel will be held today through Friday to vote on a strike authorization. USW officials stressed that they will continue to work towards a deal before taking any strike action.
“We will also continue to try to bring the company to their senses, but that authorization is necessary to bring them into the real world,” said the USW in a Sept. 1 update.
U.S. Steel said in a statement, “Over the weekend, U. S. Steel and the United Steelworkers agreed to an ongoing extension of the collective bargaining agreements that were scheduled to expire at 11:59 p.m. Sept 1. We do not anticipate a strike. Our plants continue to operate in a safe and orderly fashion. Talks are ongoing, and we continue to work diligently to reach a mutually agreeable conclusion.”
“Steelworkers have made sacrifices over the past several years that have allowed both companies to be very profitable,” said USW International President Leo W. Gerard. “All we are asking for are fair contracts that recognize those sacrifices and allow workers to have a share of that success.”
Labor negotiations at Cleveland Cliffs begin this week. The current contract for workers at Cliffs will expire at midnight October 1.
“Cliffs and the USW have successfully negotiated equitable agreements for decades, and we share several common goals,” commented spokeswoman Patricia Persico in an email to SMU. “Our relationships at both the local and national levels are respectful and based on these common goals. We look forward to begin discussions this week and plan to bargain in good faith with the goal to reach an equitable agreement with the USW.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
USS Q3 guidance: Prices have bottomed, expansions on track
U.S. Steel expects third-quarter adjusted earnings of approximately $300 million, according to figures released on Thursday. The Pittsburgh-based steelmaker said the result was in line with prior guidance and came despite “challenging pricing dynamics.” The company also said the third quarter likely reflected a “bottoming steel price environment.”
Decision on fate of USS/Nippon deal pushed to after elections: Report
The US government’s decision on whether it will block Nippon Steel’s acquisition of U.S. Steel on national security grounds has been pushed until after the November elections.
Cliffs steadfast in commitment to Middletown decarb project
Cleveland-Cliffs Inc. on Monday reiterated its commitment to a major decarbonization project at its Middletown Works in Ohio, despite an earlier report suggesting otherwise.
Nucor expects lower steel prices to drive Q3 earnings decline
Nucor blamed lower steel prices for weaker third-quarter results in earnings guidance released on Tuesday.
SDI guides toward lower Q3 earnings on weaker flat-rolled steel prices
Steel Dynamics Inc. (SDI) expects lower third-quarter earnings on the heels of “meaningfully lower” prices at its flat-rolled steel operations. The Fort Wayne, Ind.-based steelmaker expects Q3’24 earnings of $1.94 to $1.98 per diluted share, according to figures released on Monday. That’s down from $2.72 per share in Q2’24 and down from $3.47 per share in Q3’23.