Steel Products

Steel, Manufacturing Groups Denounce Political Violence
Written by Michael Cowden
January 7, 2021
At least two domestic steel and manufacturing lobbying groups have denounced the violence that temporarily halted the certification of President-elect Joe Biden’s victory over incumbent Donald Trump.
National Association of Manufacturers President and Chief Executive Officer Jay Timmons said President Trump should be removed from office after a mob stormed the U.S. Capitol on Wednesday at his behest.
“The outgoing president incited violence in an attempt to retain power, and any elected leader defending him is violating their oath to the Constitution and rejecting democracy in favor of anarchy,” Timmons said in a statement.
“This is not the vision of America that manufacturers believe in and work so hard to defend. Across America today, millions of manufacturing workers are helping our nation fight the deadly pandemic that has already taken hundreds of thousands of lives,” Timmons continued.
U.S. workers are also laboring to revive an economy hit hard by the Covid-19 pandemic. But those efforts could be futile if U.S. democracy is not protected, he said.
“Vice President Pence, who was evacuated from the Capitol, should seriously consider working with the Cabinet to invoke the 25th Amendment to preserve democracy,” Timmons said.
The 25th Amendment to the U.S. Constitution allows the vice president to temporarily assume the responsibilities of the president should the president become ill, disabled or otherwise unable to carry out the job.
The American Iron and Steel Institute (AISI) did not go so far as to call for invoking the 25th Amendment. But it condemned the incitement of violence.
“Violence and disorder have no place in the transition to a new adminstration. And so we are obviously very troubled, like everyone else,” AISI President and CEO Kevin Dempsey said in an interview with Steel Market Update. “The focus now should be on the peaceful, orderly transition to the new administration that will be in place in less than two weeks.”
Biden won the U.S. presidential election in November. Congress certified his victory after temporarily vacating the Capitol because of the danger posed by the violent, pro-Trump mob. He will be inaugurated as the next president on Wednesday, Jan. 20. Trump, unless removed from office, has less than two weeks left as the nation’s chief executive.
By Michael Cowden, michael@steelmarketupdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Products

September energy market update
In this Premium analysis we examine North American oil and natural gas prices, drill rig activity, and crude oil stock levels through September. Trends in energy prices and rig counts serve as leading indicators for oil country tubular goods (OCTG) and line pipe demand.

Market says cutting interest rates will spur stalled domestic plate demand
Market sources say demand for domestic plate refuses to budge despite stagnating prices.

U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.