Former President Donald Trump acted within the law when he doubled Section 232 tariffs on Turkey from 25% to 50% in August 2018, a federal appeals court said. The decision by the U.S. Court of Appeals for the Federal Circuit upends a prior decision by a lower court – namely, by the U.S. Court of […]
United Steelworkers (USW) union members have ratified a new four-year labor agreement with Allegheny Technologies Inc. (ATI). The vote in favor of the new pact officially ends a strike that began on March 30, more than three months ago. “As we return to work, we need to maintain our solidarity and enforce our contract,” the […]
So much for the summer doldrums. After a brief pause following Independence Day (and Canada Day), sheet prices have resumed their sharp upward trajectory. Hot-rolled coil prices are now over $1,800 per ton ($90 per cwt) while cold-rolled and galvanized base prices are above $2,000 per ton ($100 per cwt). If this pace of gains […]
ArcelorMittal Dofasco will be the next Canadian steelmaker to receive government funding to reduce carbon emissions, Canadian Prime Minister Justin Trudeau said. “Very soon we will have good news about another major investment, this time with Arcelor(Mittal) Dofasco,” Trudeau said of the Hamilton, Ontario-based flat-rolled steelmaker, which is part of multination steelmaker ArcelorMittal SA. Trudeau […]
NLMK USA sales surged in the second quarter on strong demand and increased slab supplies from its parent company in Russia. The U.S. subsidiary of Lipetsk, Russia-based NLMK Group recorded flat-rolled steel sales volumes of 502,000 metric tonnes in the first quarter. That’s up 17% from 431,000 tonnes in the first quarter and up 52% […]
I’ve heard more than a few times now that we should keep a close eye out for falling steel prices because, “Look what happened in lumber.” In case you’ve been under a rock (or tree), lumber prices fell more than 40% in June, their biggest monthly drop on record, according to CNBC and others. What […]
One of two United Steelworkers (USW) locals at Algoma Steel is opposed to the Ontario mill’s proposed switch from integrated steelmaking to electric arc furnace (EAF) production. USW Local 2251 President Mike DaPrat went so far as to boycott an event at the mill – attended by Canadian Prime Minister Justin Trudeau – to announce government-funding […]
The Dodge Momentum Index has fallen for the first time this year – and after six consecutive months of gains – on uneven demand and higher costs. The index now stands at 165.8, down 5% from a revised May number of 175.1, according to Hamilton, N.J.-based Dodge Data & Analytics. “Uncertain demand for some building […]
Steel Dynamics Inc. (SDI) has delayed the start-up of the hot end of its new steel mill in Sinton, Texas, to the fourth quarter, the company’s top executive said. The move was necessary because of severe rain over the last 4-6 weeks, something that was amplified by recent flooding in the region, SDI Chairman, President […]
Steel Dynamics Inc. (SDI) has delayed the start-up of the hot end of its new steel mill in Sinton, Texas, to the fourth quarter, the company’s top executive said. The move was necessary because of severe rain over the last 4-6 weeks, something that was amplified by recent flooding in the region, SDI Chairman, President […]
Canada has launched an antidumping trade case against oil country tubular goods (OCTG) from Austria. The investigation by the Canada Border Services Agency (CBSA) – initiated on Wednesday, July 7 – stems from a complaint filed by Tenaris SA’s Canadian subsidiaries. “The CBSA will investigate whether the imports are being dumped and will make a preliminary decision […]
Steel Dynamics Inc.’s flat-rolled steel mill in Columbus, Miss., is operating as usual after an unplanned outage in June on one of its electric arc furnaces (EAFs). The Columbus facility is “back up and running,” an SDI spokeswoman confirmed to Steel Market Update. The plant went down for a 10-day outage on June 20 after […]
Steel Dynamics Inc. (SDI) aims to be carbon neutral at its electric arc furnace (EAF) steel mills by 2050. The steelmaker has also set interim emissions reductions goals for 2025 and 2030. Namely, it plans to reduce combined Scope 1 and Scope 2 greenhouse gas emissions at its EAF mills by 20% by 2025 and […]
Cleveland-Cliffs has launched a cash-incentive program across all its facilities to encourage employees to get their COVID-19 vaccines. “The program works per site. The company will pay all vaccinated employees a cash bonus based upon the level of vaccination achieved by that site,” a Cliffs spokeswoman said. If 85% of workers at a given mine, mill or […]
Steel Market Update is pleased to announce that Dan Sullivan, founder of Chicago-based Montrose Advisors, will be the featured speaker for our next Community Chat webinar on Wednesday, July 14 at 11 a.m. ET. Montrose Advisors specializes in M&A among small- to mid-size privately held service centers, fabricators and manufacturers. Think Berlin Metals’ sale to […]
Steel Market Update is pleased to announce that Dan Sullivan, founder of Chicago-based Montrose Advisors, will be the featured speaker for our next Community Chat webinar on Wednesday, July 14 at 11 a.m. ET. Montrose Advisors specializes in M&A among small- to mid-size privately held service centers, fabricators and manufacturers. Think Berlin Metals’ sale to […]
Algoma Steel is slated to receive as much as C$420 million ($340 million U.S.) from the Canadian government to help pay for its switch from integrated steelmaking to electric-arc furnace (EAF) production. The amount will be distributed over four years and is aimed at making the Sault Ste. Marie, Ontario-based flat-rolled steelmaker one of the […]
Allegheny Technologies Inc. (ATI) and United Steelworkers (USW) union negotiators have reached a tentative four-year labor agreement, according to both the union and the company. The deal, if ratified by rank-and-file union members, would end a strike that began on March 30 – more than three months ago. The new contract – backdated to March […]
Steel Dynamics Inc. (SDI) is in the process of starting up the coating lines at its new steel mill in Sinton, Texas, a company spokesman confirmed. The paint line at Sinton has been threaded, and painting is expected to begin in approximately two weeks, he said. The mill’s galvanizing line, meanwhile, is slated to start […]
Schnitzer Steel Industries, Inc., posted its best results in more than a decade in its fiscal third quarter thanks to high prices and strong demand for both ferrous and nonferrous scrap. The Portland, Ore.-based scrap recycler and long steel producer recorded net income of $63.6 million in the third quarter after losing approximately $5 million […]
You’ll have to wait until the fourth quarter if you’re looking for flat rolled from California Steel Industries (CSI). The West Coast slab converter announced that it had closed its September order book on Thursday, July 1 – just a week after it opened the month and increased prices by $200 per ton ($10 per […]
ArcelorMittal wants to be carbon neutral by 2050, but reaching that goal will hinge on developing new ways to take fossil fuels – namely, coal and natural gas – out of the steelmaking process, a company executive said. It will also require that key technologies – carbon capture and storage (CCS), biofuels and other renewable […]
William K. Sales Jr., Reliance Steel & Aluminum’s executive vice president of operations, will retire in January 2022. In the meantime, Sales will work as a special advisor to the metals service center – North America’s largest – in a transition effective from Thursday, July 1. “On behalf of the entire Reliance team, I would […]
Canada has launched an anti-dumping trade case against oil country tubular goods (OCTG) from Mexico. The probe stems from a complaint filed by Regina, Saskatchewan-based Evraz Inc. NA Canada and Concord, Ontario-based Welded Tube of Canada, according to documents from the Canada Border Services Agency (CBSA). The CBSA, which initiated its investigation on June 30, […]
Ford plans to idle or reduce production at nearly all its North American assembly plants in July – and in some instances into early August – because of a shortage of chips and other parts. “While we continue to manufacture new vehicles, we’re prioritizing completing our customers’ vehicles that were assembled without certain parts due to […]
U.S. Steel is studying the possibilities for deploying carbon capture and storage (CCS) as well as hydrogen-based production as part of its efforts to decarbonize. The Pittsburgh-based steelmaker is doing so via a non-exclusive memorandum of understanding with a U.S. subsidiary of Norwegian energy company Equinor ASA. The effort will be centered in the Mon Valley […]
SSAB Americas President Chuck Schmitt joined SMU for a Community Chat webinar last week during which we talked plate, renewable energy and fossil-free steelmaking. We also got to some good questions from you about the hydrogen-based steelmaking SSAB is undertaking in Sweden through its HYBRIT partnership with iron ore miner LKAB and power producer Vattenfall. […]
SSAB Americas plans to take a three-week outage at its plate mill in Mobile, Ala., in late November and early December, a company spokeswoman said. No outage is planned at the steelmaker’s plate mill in Montpelier, Iowa, for the balance of the year, she added. SSAB Americas – and subsidiary of Swedish steelmaker SSAB – […]
Cleveland-Cliffs Inc. plans to take a 45-day maintenance outage at the big No. 7 blast furnace at its Indiana Harbor steel works in East Chicago, Ind., a company spokeswoman said. The planned outage, for a partial reline of the furnace, is scheduled to start on Sept. 1, she said. The No. 7 furnace has capacity […]
Let’s talk about lead times. Because the results from our latest survey caught my attention. This is the first time in since January-February that you can maybe discern a potential peak in pricing – at least judging by that metric. Lead Times: Trend or Head Fake I’m going to display our lead latest lead time […]