Steel Mills

Stelco, USW Local 1005 Near Labor Deal, Avoid Strike
Written by Michael Cowden
August 14, 2022
Stelco and United Steelworkers (USW) Local 1005 have at least temporarily avoided a labor disruption at the Canadian steelmaker’s mill in Hamilton, Ontario.
The two parties are working toward an agreement on a new labor contract, details of which will be presented to union members on Monday, Aug. 15.
“The strike deadline has been suspended. You should continue to attend work as scheduled,” Local 1005’s negotiating committee wrote in an update to members on Friday, Aug. 12.
Steelworkers at Stelco’s Hamilton Works had been in a legal position to strike as of 12:01 am on Tuesday, Aug. 16.
A prior labor agreement between the company and Local 1005 expired at the end of June. The two sides, which began negotiations on April 5, have continued talks well past that deadline.
Hamilton Works makes galvanized and galvannealed steel and has annual capacity of 470,000 tons.
USW Local 8782, another USW chapter, represents Stelco’s Lake Erie Works in Nanticoke, Ontario. That facility continues to produce hot metal and hot-rolled coil. Local 8782 will be in a legal position to strike as of 12:01 a.m. on Sunday, Aug. 22.
Stelco did not immediately respond to a request for comment on Sunday, Aug. 14.
Several steelmakers in the US and Canada are in the middle of contract negotiations with the USW.
USW members at Algoma, another Canadian steelmaker, will vote on whether to accept a new contract or to go on strike at the end of the month.
The union and US-based steelmakers US Steel and Cleveland-Cliffs are nearing the Sept. 1 deadline when prior labor agreements expire.
Market participants have kept a close eye on labor developments because of potential supply chain disruptions and because of the impact they could have an impact on prices.
A strike or lockout at a major mill could result in less supply and higher prices. Labor accords, in contrast, would preserve the status quo and potentially remove any risk premium baked into current prices.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Mills

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.

POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.