Contributor: Ethan Bernard

Raw steel output by US mills ticked up slightly last week, according to the latest data from the American Iron and Steel Institute (AISI).

Nucor has raised its weekly consumer spot price (CSP) by $10 per short for hot-rolled (HR) coil to $720/st.

The phrase “political football” has been tossed around a lot lately. (Pun probably intended.) For the humble journalists at SMU who thought the week following Steel Summit would prove a quiet one… the news cycle had other ideas

The US Securities and Exchange Commission said it has settled charges with Esmark and company founder Esmark James P. Bouchard regarding a tender offer for U.S. Steel last year.

SMU Senior Analyst and Editor David Schollaert sat down with leading steel service center executives at the SMU Steel Summit 2024 in Atlanta to discuss the issues affecting the industry.

Trade is always front and center in an election year. And 2024 is no different. There is no shortage of issues, with questions like the sale of U.S. Steel to Japan’s Nippon Steel, potential cracks in the USMCA, and Chinese overcapacity dominating the headlines. But how do you distinguish between issues that might just last until November, and what are the crucial questions that could affect your business for years to come?

Domestic steel shipments remained nearly flat in July month over month but fell from a year earlier.

Much like the classic EF Hutton commercial, when Barry Zekelman talks, people listen. Add in an audience at Steel Summit 2024… and people’s ears seem to perk up even more.

https://www.brown.senate.gov/newsroom/press/release/sherrod-brown-casey-fetterman-biden-administration-level-playing-field-american-octg-industry

Nippon Steel and other Japanese steelmakers are lobbying for the Japanese government to limit imports of Chinese steel, according to a report in Reuters.

SSAB has appointed Johnny Sjöström as president and CEO of the Swedish steelmaker.

Dan Needham has been with Nucor for 24 years, and he said the key to that longevity has been the company’s culture.

Whether as a guitar player in a rock and roll band or as a high-powered executive at Steel Dynamics Inc. (SDI), it’s all about the team for SDI’s Barry Schneider.

Canada has announced a 25% tariff on Chinese steel and aluminum, along with a 100% tariff on Chinese EVs.

Zekelman Industries has bought 5% of available shares of Canada’s Algoma Steel.

Within the space of a few days, we'll all be leaving on a jet plane. That's not completely true. A couple of SMU staff in the Atlanta area will be driving to Steel Summit 2024. Still, the hour where we kick of conference is quickly approaching. In anticipation, we are providing one of our handy-dandy crosswords in honor of the event.

Two rail providers have locked out union workers at their operations in Canada.

Coal companies Arch Resources and CONSOL Energy announced their merger to create Core Natural Resources, a combined company with a market cap of ~$5.2 billion.

Cleveland-Cliffs has named Michael Hrosik as senior vice president of commercial, effective immediately.

The price spread between hot-rolled (HR) coil and prime scrap widened slightly in August but remains in territory not seen since late 2022, according to SMU’s most recent pricing data.

Gentlemen (and women), start your engines. The Steel Summit 2024 train has left the station and is en route to Atlanta.

US scrap prices picked up in August, though near-term demand is expected to remain weak, scrap sources told SMU.

A work stoppage could hit Canada’s rail network as two rail companies have said they will lock out union workers on Thursday if no labor agreement is reached.

The United Autoworkers (UAW) union said that several locals are preparing to file grievances against Stellantis, which could lead to a national strike against the automaker.

US steel shipments fell both on-year and month over month in June, according to the latest figures from the American Iron and Steel Institute (AISI).

The United Steelworkers (USW) union has praised Vice President Kamala Harris’ choice of Minnesota Gov. Tim Walz (D) as her running mate. 

Klöckner & Co. swung to a loss in the second quarter on-year, as the company expects a slip in sales for full-year 2024 because of the drop in steel prices.

Nucor has raised its consumer spot price (CSP) for hot-rolled (HR) coil to $690 per short ton (st), up $15/st from last week. This marks the second consecutive week the company has sought an increase.

Olympic Steel’s earnings tumbled in the second quarter as the company expects near-term business conditions to remain “challenging.”

The US Department of Commerce has announced its determination that Vietnam will keep its classification as a non-market economy (NME) country.