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.

SDI to Provide Steel for Mercedes Plant in Alabama

Steel Dynamics Inc. (SDI) and Mercedes-Benz have signed an agreement for the automaker to source 50,000 metric tons of C02-reduced steel for its plant in Tuscaloosa, Ala.

SDI Sees Q3 Earnings Drop, Lower Flat-Rolled Tags to Hit Steel Ops

Steel Dynamics Inc. (SDI) said it expects third-quarter earnings to be lower than the previous quarter and also below the results posted a year earlier.

Final Thoughts

The United Auto Workers (UAW) strike that started Friday leaves the Detroit 3 automakers—and it’s union-represented workers—in uncharted territory.

Unifor Voices Support for UAW as Its Own Strike Deadline Looms

Unifor, the union which represents Canada’s auto workers, has written a letter in solidarity with the United Auto Workers (UAW) strike as its own labor contract deadline nears.

US Prime Scrap, HRC Spread Narrows Further

The spread between hot-rolled coil (HRC) and prime scrap prices continued to narrow this month, according to Steel Market Update’s most recent pricing data.

SMU Sentiment Indices Rose Ahead of UAW Strike

SMU's Current and Future Steel Buyers Sentiment Indices both ticked up this week before the United Auto Workers (UAW) union strike was declared, based on our most recent survey data.

Nucor Sees Lower Q3 Earnings, Sheet Mills Take a Hit

Nucor expects third-quarter earnings to be lower sequentially and on-year, the steelmaker said in earnings guidance on Thursday.

Mill Negotiation Rate Soars

The overall steel mill negotiation rate jumped 14 percentage points this week vs. the last market check, with plate's rate rising by eight percentage points, according to SMU's most recent survey data.

Prime Scrap Tags Sink in September, Shredded and HMS Flat

Domestic scrap prices for shredded and HMS were sideways in September vs. August. However, busheling fell precipitously during the month, according to scrap sources surveyed by SMU.

UAW Set to Target Individual Plants at Detroit 3: Report

The United Auto Workers (UAW) union is preparing a “strategic strike,” targeting specific plants at all three of the Detroit automakers, according to a report in the Detroit Free Press.

SDI Inks Pact to Supply Coil to Solar Firm

Steel Dynamics Inc. (Inc.) has entered into a long-term agreement with Array Technologies to provide a fixed supply of coil for the solar tracking equipment maker’s US projects.

Stellantis on 'Good Path' with UAW, New Proposal to Be Submitted: Exec

A Stellantis executive detailed today the progress the automaker is making with the United Auto Workers (UAW) union as a “good path” ahead of Thursday’s contract deadline.

UAW Jeers Automaker Contract Offers Ahead of Sept. 14 Strike Deadline

Automaker Stellantis presented what it said was a "strong" contract offer to the United Auto Workers (UAW) union on Friday. The union's initial reaction was not positive.

USW Workers Ratify Labor Pact at Cliffs' Northshore Ops

Cleveland-Cliffs said on Friday its United Steelworkers (USW) union employees at its Northshore Mining operations in Minnesota have ratified a new three-year labor agreement.

H2 Green Steel Raises ~$1.6B to Fund Plant in Sweden

H2 Green Steel said it has raised ~€1.5 billion (USD$1.6 billion) in equity to finance the company’s large-scale green steel plant in Boden, Sweden, and Europe’s first “giga-scale electrolyzer.”

Senator Says U.S. Steel Must Not Be Acquired by Foreign Firm

US Senator JD Vance (R., Ohio) said U.S. Steel must not be bought by a foreign bidder, according to an op-ed he published on Sept. 5 in the Washington Post.

Steel Shipments in US Fall in July: AISI

Steel shipments in the US were down year over year and sequentially in July, according to the latest data from the American Iron and Steel Institute (AISI).

UAW President Says Strike Could Hit All Three Detroit Automakers

United Auto Workers (UAW) president Shawn Fain said Wednesday the union plans to strike against any Detroit automaker with which it hasn’t reached an agreement by the time the labor contract expires, according to an interview with the Associated Press.

H2 Green Steel, Vale Ink Pact for 'Green Industrial Hubs' in Americas

Sweden’s H2 Green Steel has signed an agreement with Brazilian miner Vale to jointly study the feasibility of developing green industrial hubs in Brazil and North America.

Biden Shrugs Off Possibility of UAW Strike: Report

President Biden downplayed the prospect of a strike by the United Auto Workers (UAW) union in comments on Monday, according to a report by Detroit’s WXYZ’s news.

Olympic Names New GM of Minn. Plate Processing Ops

Olympic Steel said Leah M. Kiley has been promoted to the role of general manager for the company’s Minneapolis plate processing facility.

Final Thoughts

Some of you may remember when the year “2000” seemed like the distant future.

Steel Buyers Sentiment Indices Fall

SMU's Current and Future Steel Buyers Sentiment Indices both edged down this week, based on our most recent survey data.

Sheet Products' Negotiations Rate Falls, But Plate Surges

The overall mill negotiation rate slipped this week, though plate jumped, rising by 25 percentage points, according to SMU's most recent survey data.

Scrap Outlook Mixed for September

Scrap sources had a mixed outlook for US scrap prices for September.

Radius Recycling Updates NASDAQ Symbol

Radius Recycling, formerly Schnitzer Steel Industries, said the company’s common stock will start trading on NASDAQ under the symbol ‘RDUS’ at the open of market trading on Sept. 1.

Nucor Breaks Ground on N.Carolina Rebar Micro Mill

Nucor broke ground on its newest micro mill in Lexington, N.C., on Friday.

Steel Summit: US Scrap Industry Is Up to EAF Expansion Challenge

Leading voices in US the scrap industry discussed the current outlook and future challenges at Steel Summit 2023’s panel on Scrap and Metallics: Navigating the Boom in EAF Sheet Production.

UAW OKs Interim Deal at Ohio Battery Plant

United Auto Workers (UAW) at battery cell maker Ultium Cells in Lordstown, Ohio, ratified an interim labor agreement over the weekend.

Steel Summit: Analysts Weigh in On 2024 Price Outlook

Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.