US Steel Canada and its parent company US Steel Corp. are parting ways but uncertainty about the future of the Canadian steel mill lingers. In a Superior Court decision last week, Justice Herman Wilton-Siegal agreed to sever the connection between the companies and allow US Steel Canada to suspend health care benefits to more than […]
Contract negotiations continue to progress at ArcelorMittal and US Steel but at a very slow rate. The USW reported that the ArcelorMittal bargaining committee reached a “basic understanding with the company on some non-economic issues.” At US Steel talks are at an impasse with the USW resisting concession demands. The bargaining committee headed home last […]
Hamilton MPs are urging legal action against US Steel Canada to force them to honor pension obligations. “It is unacceptable that US Steel Canada is abandoning these workers and their families,” said Industry Minister James Moore in a statement on the recent court decision that frees USSC from paying pension health benefits and property taxes. […]
Late on Friday, a Canadian judge ruled U.S. Steel could sever ties with U.S. Steel Canada and that the Canadian facility would to forward as a new entity. The judge also ruled in favor of U.S. Steel as he permitted the company to suspend health care benefits to 20,600 pensioners as well as property taxes. […]
The Ontario Superior Court has reserved judgment on a plan by US Steel Corporation for the company and US Steel Canada to “go their separate ways.” Justice Herman J. Wilton Siegal said it is one of the toughest decisions he has had to make from the bench and will issue a summary of his decision […]
Cliffs Natural Resources has terminated its iron ore supply agreement with Essar Steel Algoma alleging Essar made multiple and material breaches under the agreement. “While the agreement has been terminated, Cliffs remains open to discussing supplying Essar with pellets on commercially reasonable terms consistent with a just-in-time iron ore supply arrangement,” said Cliffs in a […]
US Steel announced on Tuesday that it is examining a possible consolidation of its North American flat rolled operations and may idle steelmaking operations and most finishing operations at Granite City. US Steel said it routinely adjusts production to align with market fluctuations. The potential consolidation is a result of challenging global market conditions, including […]
U.S. Steel Canada will be in court Wednesday and Thursday presenting its arguments for suspending pension contributions and property tax payments. The company will also ask for an extension of CCAA protection. Parent company US Steel has said it will not include US Steel Canada in any bids for 2016 automotive contracts and plans to […]
SEWICKLEY, PA – OCTOBER 6, 2015 – Esmark, Inc., a diversified holding company and parent company of Esmark Steel Group, today announced that Michael J. Bush, a Principal of Esmark Steel Group, has been named Vice President of Commercial Sales for Esmark, Inc., effective immediately. Bush will report to Esmark, Inc. and Esmark Steel Group […]
Essar Steel Algoma will begin laying off employees on Sunday evening (Oct. 4) starting with the evening shift. USW Local 2551 received notice that approximately 100 workers will be cut, with the plate and cold mills most heavily affected. “We’ve had to match staffing levels to production and we have experienced a sustained drop in […]
The USW updated the membership on Monday after returning to the bargaining table with US Steel in Pittsburgh. The two sides met for several hours to discuss a wide range of issues including active and retiree health care, contracting out and health and safety. “While significant differences remain on each of these issues, we believe […]
All the focus has been on labor talks between the USW and US Steel and ArcelorMittal, but there are several other USW contracts that are up for renewal such as Cliffs Natural Resources and Alton Steel. Alton Steel, an SBQ steel producer located in Alton, Ill., is represented by USW Local 3643. The contract agreement […]
Mediation at US Steel Canada began last Thursday to try to resolve the issues that have plagued the CCAA protected entity. The mediation will address the consider the restructuring and sale of US Steel Canada, US Steel’s claim that it is owed $2.2 billion by USSC, and US Steel’s decision to shift 15,000 tons of […]
All the focus has been on labor talks between the USW and US Steel and ArcelorMittal, but there are several other USW contracts that are up for renewal such as Cliffs Natural Resources and Alton Steel. Alton Steel, an SBQ steel producer located in Alton, Ill., is represented by USW Local 3643. The contract agreement […]
US Steel is planning a full idle of the Keetac taconite plant in Keewatin, Minn. WARN notices have been issued to workers and the layoffs could commence on or after Oct. 11. Keetac was idled In May, laying off 412 workers, but about half of those were recalled last month for repair work. A spokesperson […]
Worthington Industries reported net earnings of $31.4 million for first quarter 2016 ending August 31, 2015. Earnings were down from $44.2 million in Q1 2015 but up from Q4 FY 2015’s $28.9 million. Net sales declined 12 percent to $758.1 million, driven by lower volume in all business segments and lower average steel pricing. Gross […]
ArcelorMittal announced it will invest $11.1 million its premier tubular facility, ArcelorMittal Monterrey, in Monterrey, Mexico. Construction of an additional tube mill and installation of downstream value-add processing equipment will enable the facility to supply high quality straight and formed tubes used in the production of automotive seating and head rest applications. The updated facility […]
Contract negotiations are set to resume again at ArcelorMittal and U.S. Steel. The USW informed its membership on Wednesday that the negotiating committees will be heading back to Pittsburgh on Sunday, Sept. 27 with meetings scheduled for Monday, Sept. 28. “Although the parties remain far apart on key issues, we are committed to bargaining a […]
Allegheny Technology workers are in their sixth week of lockout by management with no word on when negotiations will resume. The USW is currently arguing with ATI over medical benefits for locked out salaried office and technical workers in Harrison. The union filed a lawsuit on August 28 charging that the “company breached the union […]
Steel Market Update participates in a monthly steel conference call with HARDI wholesalers who supply galvanized sheet and coil products to the HVAC mechanical contractors across the United States and Canada. The wholesalers also supply other products such as air conditioners, furnaces and many other products to companies working on residential, multi-family and commercial construction […]
Steel Dynamics Inc. anticipates improved profitability in third quarter from modestly increased margins that were offset by slightly lower shipments. Earnings will be higher than second quarter which was impacted by the closing of the Minnesota Iron operations and a planned maintenance outage at Iron Dynamics. SDI expects overall average product pricing to be flat […]
Based on Steel Market Update (SMU) analysis of the recently released MSCI service center inventory and shipment data, total service center carbon steel shipments decreased by 126,600 tons in August to 3.160 million tons. Shipping days at 21, were down one from July. On a tons per day basis (t/d) shipments increased from 149,400 tons […]
Labor negotiations continue to pause at US Steel, ArcelorMittal and ATI. The USW bargaining committee has been holding meetings at US steel locations to review the union’s most recent proposal and the status of negotiations. “Though there has been no significant progress to report on bargaining [with US Steel] in recent days, talks will continue, […]
The Association of Steel Distributor held their regional meeting in Cleveland last Thursday at the Metropolitan on the 9. If you ever have a chance to be in Cleveland check out this hotel that is designed around the existing bank vaults built by the Carnegie Steel company. The meeting was held jointly with the Association […]
U.S. Steel Canada is seeking a court order that will allow it to continue the restructuring process beyond this year. Without the order, the company says it would have to cease operations at the end of 2015. “With a Court Order we can preserve work and meet obligations to approximately 2,200 employees and continue to […]
AK Steel expects shipments to increase by 3 percent in third quarter to approximately 1.86 million tons primarily on the strength of auto market shipments. In its third quarter guidance, the company said it anticipates an average selling price of $910 per ton, down 2 percent from Q2 due to lower carbon steel spot pricing […]
The Metal Service Center Institute (MSCI) released August distributor shipment and inventory data on Wednesday of this week. Total steel inventories remained essentially unchanged in August compared to July as the daily shipping rate declined by 3.8 percent. The biggest declines in shipments were attributed to carbon plate (-14.8 percent), structurals (-3.9 percent) and carbon […]
Once one of the largest corporate giants in the United States (if not the world), United States Steel (USS) continues to shrink its workforce as demand for its products shrink. SMU has learned that an unknown number of white collar workers have been advised that they will be losing their jobs. USS Spokesperson Courtney Boone […]
Mediation may be the solution to the controversial issues between US Steel and stakeholders at US Steel Canada. Former Ontario Superior Court associate chief justice Douglas Cunningham will preside over a three-day session scheduled to begin next week. “The mediation shall address the feasibility of a comprehensive agreement among the parties,” wrote Superior Court Justice […]
Nucor guidance for third quarter 2015 beat analyst estimates. Results are expected to be in the range of $0.45 to $0.50 per diluted share, up from $0.39 in second quarter but a decrease from 2014 Q3 earnings of $0.76 per diluted share. Nucor said margins have benefited from lower inventory costs in third quarter. The […]