Contributor: Ethan Bernard

The United Autoworkers (UAW) union said Friday its strike authorization vote passed “with near universal approval” from its members at the Detroit 3 automakers.

BlueScope’s North American earnings dropped in its fiscal year ended June 30 compared with the previous year, primarily on lower Midwest hot-rolled coil (HRC) benchmark prices.

Nucor executive Daniel Needham detailed at this year's Steel Summit what’s on the horizon for the steelmaker as the company continues to diversify.

Esmark has withdrawn its bid for U.S. Steel.

Global steel production increased 6.6% year over year (YoY) in July to 158.5 million metric tons, according to the latest report from the World Steel Association (worldsteel).

A wide-ranging discussion on the SMU Steel Summit 'Domestic Steel Panel: Investing for the Future' saw executives from leading steel companies debate the likelihood of passing on a surcharge to consumers for products with lower CO2 content.

Metals and electronics recycler Sims Ltd. reported lower earnings in its North America Metal division for its fiscal-year 2023 that ended June 30 due to “falling sales prices and strong domestic competition.”

Ford Motor is getting white-collar workers ready to do blue-collar jobs at parts depots in the event of a strike, according to an article in The Detroit Free Press on Thursday.

SMU's Current Sentiment Index slipped this week, while the Future Steel Buyers Sentiment Index jumped 10 points from the last market check, according to our most recent survey data.

The office of the US Trade Representative (USTR) endorsed the World Trade Organization’s (WTO) panel report regarding the Section 232 duties against China on steel and aluminum. The report recognized the duties as “security measures,” rejecting China’s arguments against them.

The mill negotiation rate was mixed this week for sheet products but relatively level, while the rate for plate jumped over 15 percentage points from two weeks earlier, according to SMU’s most recent survey data.

Manufacturing activity decreased in New York state in August, according to the most recent Empire State Manufacturing Survey.

ArcelorMittal is considering throwing its hat into the ring as a potential suitor for U.S. Steel, according to an article in Reuters on Wednesday.

The spread between hot-rolled coil (HRC) and prime scrap prices narrowed further in August, according to Steel Market Update’s most recent pricing data.

Esmark Inc. announced on Monday a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel of $35 per share.

Republic Steel said it will indefinitely idle operations at its Canton, Ohio, and Lackawanna, N.Y., mills due to challenging business conditions.

The US scrap market showed some stability in August, with prices mostly sideways on busheling and shredded grades, and HMS prices ticking up from the previous month, sources said.

U.S. Steel has announced a collaboration with Google Cloud to build applications using Google Cloud’s generative artificial intelligence (gen AI) technology.

Flack Global Metals (FGM) said it has completed an investment in Windsor America, parent of Windsor Door, Garage Door Services of USA and Lodi Door.

Canadian union Unifor kicked off negotiations with the Detroit 3 automakers today, with its president saying the “talks will be the most consequential and closely watched in decades.”

Canadian steelmaker Stelco reported lower results in the second quarter year over year on decreased average selling price per net ton and lower shipping volume, but earnings improved sequentially on higher average selling prices.

H2 Green Steel is partnering with global mining and metals company Rio Tinto and Brazilian miner Vale for the supply of direct-reduction iron (DRI) ore pellets for the company’s green steel production in Sweden. 

Steel shipments in the US rose year over year in June but decreased sequentially, according to the latest figures from the American Iron and Steel Institute (AISI).

SMU's Current and Future Steel Buyers Sentiment Indices have both fallen this week from the last market check, according to our most recent survey data.

The percentage of respondents saying mills were willing to negotiate price rose on all sheet products and plate this week, according to SMU's most recent survey data. 

August could see US scrap prices stabilizing, or even rising, depending on the grade or region, scrap sources told SMU.

Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings.

Mexican steelmaker Altos Hornos de México (AHMSA) said there could be an “indefinite” delay to the restart of production because of a blockade by activists.

Nucor has received its final federal permit to begin construction on its sheet mill in Mason County, W.Va.

The LME aluminum three-month price is moving higher again, closing the week on the morning of July 28 at $2,215 per tonne. The previous day, the price dropped sharply at the close and briefly moved below $2,200/t. The next day the price was seen increasing again, suggesting support at $2,200/t has once again been regained.