Contributor: Ethan Bernard

Ethan Bernard

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Dodge Momentum Index dips in February

The Dodge Momentum Index (DMI) slipped in February from the previous month, according to the latest Dodge Construction Network (DCN) data.

AISI: January steel shipments up from December, down vs prior year

US steel mill shipments increased in January vs. December but fell from a year earlier,

SMU Community Chat: Geoff Gilmore guides Worthington Steel into the future

Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.

JSW Steel picks Simon as CEO of US operations

India’s JSW Steel has selected steel industry veteran Robert Simon as CEO of JSW Steel USA.

AZZ - Precoat Metals taps new president

AZZ – Precoat Metals has announced the promotion of Jeff Vellines to president of the company.

USW reaches tentative pact with CN Rail

United Steelworkers (USW) union members in Canada have reached a tentative labor agreement with CN Rail.

Northwest Pipe earnings decline in Q4, FY2023

Northwest Pipe posted lower earnings in the fourth quarter as the company said it faced significant challenges in its steel pressure pipe (SPP) and precast businesses in full-year 2023.

ISM: Manufacturing contracts again in February

US manufacturing activity continued to slump in February, contracting for the 16 consecutive month, according to the latest report from the Institute for Supply Management.

AISI tells Congress to tighten trade legislation

The American Iron and Steel Institute (AISI) is urging Congress to strengthen US trade laws. Specifically, Kevin Dempsey, president and CEO of AISI, asked Congress to incorporate the provisions of the Leveling the Playing Field 2.0 Act in any trade legislation that moves forward this year.

Goncalves blames USS for ITC tin products decision, USS fires back

Cleveland-Cliffs CEO Lourenco Goncalves said he blames U.S. Steel’s lack of participation in the tin mill products trade case for an unfavorable US International Trade Commission (ITC) decision.

SMU survey: Mills more willing to negotiate lower spot prices

Steel buyers generally found mills more willing to negotiate spot pricing on the products SMU surveys this week, according to our most recent survey data.

Mexico eyes steel tariffs on US as trade fight brews

Mexico has said it will place retaliatory steel tariffs on the United States if the US acts to reimpose Section 232 on its neighbor, according to an article in Reuters.

Metalformers' outlook brightens in February: PMA

Metalformers expressed increased optimism about business activity this month, according to the February 2024 Precision Metalforming Association (PMA) Business Conditions Report.

Majority of Mercedes workers at Alabama plant voice support to join UAW

The United Auto Workers (UAW) union said that over 50% of workers at Mercedes-Benz’s plant in Vance, Ala., “have signed union cards in support of joining the UAW.”

USW remains skeptical of USS acquisition despite Nippon's promises

The United Steelworkers union expressed a lack of trust in assurances from Japan’s Nippon Steel Corp. (NSC) regarding its proposed buy of U.S. Steel.

UAW to create 'solidarity project' with auto workers in Mexico

The United Auto Workers (UAW) executive board has voted to start a new “solidarity project” to support auto workers in Mexico.

Olympic Steel mulling future buys in all three of its segments

Olympic Steel said it's open to future acquisitions in all three of its business segments.

AISI explains new PM2.5 air-quality regulation's impact on steel

The US already had strict regulations on air-quality standards for particulate matter, but they are going to get even tighter.

Olympic Steel earnings soar in Q4

Olympic Steel’s earnings jumped in the fourth quarter, even as the company dealt with "significant" price volatility in hot rolled for full-year 2023.

Ryerson back in black in fourth quarter

Ryerson swung to a net profit in the fourth quarter, though revenue declined from the same period last year.

Stelco swings to a Q4 loss but sees better margins ahead

Canadian steelmaker Stelco swung to a loss in the fourth quarter as revenue declined due to decreased shipping volume and average selling prices.

UAW, Ford reach tentative pact, avert strike at Kentucky Truck Plant

A United Auto Workers (UAW) local has reached a tentative agreement with Ford, avoiding a strike at the automaker’s Kentucky Truck Plant (KTP).

Ternium sees earnings soar in Q4, expects increasing Mexican steel demand

Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.

Housing starts drop again in January

US housing starts fell for the second consecutive month in January, according to the most recent data from the US Census Bureau.

'Race to Green Steel' campaign for automotive launched

A coalition of climate and industrial organizations has launched a 'Race to Green Steel' campaign.

UAW workers at Ford's Kentucky Truck Plant threaten to strike

Approximately 9,000 United Auto Workers (UAW) members at Ford’s Kentucky Truck Plant said they will strike on Friday, Feb.. 23, if local contract issues are not resolved.

SMU survey: Current Buyers' Sentiment flat, Future Sentiment falls

SMU’s Current Steel Buyers’ Sentiment Index was flat this week, while the Future Sentiment Index slipped, according to our most recent survey data.

HRC vs. busheling scrap spread narrows in February

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further this month, according to SMU’s most recent pricing data.

Friedman earnings slump but sees stronger quarter ahead

Friedman Industries posted lower earnings in its fiscal third quarter but was upbeat on the next quarter due to the effect of increased hot-rolled coil prices.

SMU survey: More sheet buyers find mills willing to talk price

The percentage of sheet buyers finding mills willing to negotiate spot pricing rose or remained relatively flat on the products SMU surveys, while plate slumped, according to our most recent survey data.