Analysts expected U.S. auto sales to approach a seasonally adjusted annual rate of 18 million units for 2015, but slipping December sales brought the total to 17.47 million, an all-time record according to Autodata Corp. Commenting on its tally of December sales, Wards Auto wrote, “It speaks volumes for the kind of year 2015 was […]
Manufacturing ended the year with general global slowing as production and new orders declined. The JP Morgan Global Manufacturing PMI registered 50.9 in December, down from 51.2 in November. The global PMI average for 2015 failed to surpass the average reading for the prior two years. PMI indices for China, India, Brazil, Russia, Indonesia and […]
Reliance Steel & Aluminum Co. has completed the acquisition of Tubular Steel, Inc., effective Jan. 1. TSI is a distributor and producer of carbon, alloy and stainless steel pipe, tubing and bar products. The company is headquartered in St. Louis, Mo., and ships from its seven U.S. service centers more than 2 million custom-cut lengths […]
The winner of the 2015 Steel Man of the Year is Lisa Goldenberg, the first woman to receive the award from the Association of Steel Distributors. The press release from ASD follows: The Association of Steel Distributors (ASD) is proud to announce Lisa Goldenberg has received the 2015 Steel Man of the Year Award. Since […]
Last year was a major year for labor contracts that affected the steel industry. After months of slowdowns and contentious negotiations on the West Coast in 2014, the PMA/ILWU finally ratified a contract in May of 2015. The labor dispute caused delay of steel shipments and other products, congestion on the docks, and shifted some […]
The China Iron and Steel Association reported that Chinese steel mills suffered losses of approximately $8.18 billion dollars in the first eleven months of 2015. Revenue fell 19.3 percent year over year for the 101 large and mid-sized steel mills that CISA tracks. With falling steel demand at home, China steel exports surged in the […]
USW and Allegheny Technologies Inc. resumed talks on Dec. 30 with a federal mediator in Pittsburgh. The meeting follows an announcement that the National Labor Relations Board would file unfair labor practice charges against ATI. USW officials said the parties discussed the NLRB decision, the US Steel tentative settlement, idling of operations, and the four-month […]
The Chicago Business Barometer (or Chicago PMI) fell at its fastest rate since 2009, down 5.8 points to 42.9 in December. The drop took analysts by surprise who were projecting a reading in the 48 to 50 range. MNI Indicators notes that the December reading is 16.5 points below the January 2015 high of 59.4. […]
USW and Allegheny Technologies Inc. resumed talks on Dec. 30 with a federal mediator in Pittsburgh. The meeting follows an announcement that the National Labor Relations Board would file unfair labor practice charges against ATI. USW officials said the parties discussed the NLRB decision, the US Steel tentative settlement, idling of operations, and the four-month […]
The negotiating committee at US Steel reached a tentative agreement on a new labor contract on Saturday, Dec. 19. Although terms of the contract will not be officially released until after ratification, the Pittsburgh Post-Gazette obtained a copy and revealed some of the content. The new contract references slowdowns for the company including those at […]
US Steel Canada is doing better than expected despite still losing money. According to the 18th Monitor’s report for the CCAA protected company, November’s operation loss was $5.8 million, about half the forecast of $11 million. Operational loss year to date (as of November 30) was $109.4 million. Net loss for the eleven months was […]
Minnesota Gov. Mark Dayton gave Essar Steel Minnesota a week to agree to a terms of proposal to repay $66 million in loans. Essar received the loans in 2004 in return for promises to build a $1.9 billion iron ore processing plant and steel mill in Nashwauk, Minn. The taconite plant is still under construction […]
The Texas Manufacturing Outlook Survey, conducted by the Dallas Fed, showed mixed results in December. The general business activity index plunged to -20.1 from -4.9 in November indicating a continued weakness in manufacturing. Analysts expected a decrease but only to around -6.0. In contrast, the index for production rose 8.2 points to 13.4 during the […]
US Steel Corp announced it will postpone construction of the electric arc furnace at its Fairfield Works operation in Alabama due to “continued challenging market conditions in both the oil and gas and steel industries.” The $230 million EAF was scheduled for completion next year, giving US Steel the flexibility of its first EAF. The […]
On Dec. 21, the Department of Commerce (Commerce) announced its affirmative preliminary determination in the countervailing duty (CVD) investigation of imports of heavy walled rectangular welded carbon steel pipes and tubes from Turkey. The investigation covers heavy walled rectangular welded carbon steel pipes and tubes, which are rectangular (including square) welded carbon steel pipes and […]
The USW and US Steel reached a tentative agreement late Saturday on a new contract for the more than 18,000 workers at US Steel’s flat-rolled, tubular and iron ore mining facilities in the United States. “This tentative agreement represents a major step forward from the position we found ourselves in earlier this summer when we […]
SMU anticipates that with US Steel and the USW coming to a tentative agreement that it is only a matter of time before the ArcelorMittal negotiations will also come to a resolution, most likely very similar to the one negotiated at USS. The union has not yet voted on the USS package and, if there […]
The National Labor Relations Board has sided with workers from Allegheny Technologies that have accused the company of illegal labor practices after a lockout was initiated on August 15. The NLRB on Friday said it would file a complaint against ATI that will be heard before an administrative law judge in Pittsburgh. “The determination was […]
The UAW has ratified a new contract with Nexteer Automotive after rejecting a first tentative agreement just two weeks ago. The ratification averted another possible strike by the membership. UAW Local 699, representing 3,200 workers at Nexteer, reported that 64.2 percent of voting members supported the new contract. Changes from the original agreement include increasing […]
AK Steel joins other steelmakers in reporting reduced shipment volumes for fourth quarter. In its guidance report, the company says it expects shipments of approximately 1.6 million tons, down 14 percent from Q3. The decrease is a result of reduced sales in the carbon steel spot market due to the adverse impact of pricing from […]
Mexico will launch an antidumping probe on imports of Chinese cold-rolled flat coated steel. The investigation was prompted by a complaint by steelmakers Ternium Mexico and Tenigal which claimed the surge of imports between 2012 and April 2015 harmed domestic production. In October, Mexico instituted a 15 percent tariff on steel products from counties with […]
December 16, 2015 – ArcelorMittal today announces that Lou Schorsch, 66, senior executive vice president, member of the Group Management Board and CEO of ArcelorMittal Americas will retire from the company, effective end of February 2016. Mr. Schorsch joined the company in 2003 as CEO of Ispat Inland. Going forward it has been decided to […]
Flack Steel has closed the deal on acquisition of selected assets of Consolidated Systems, Inc.’s (CSi) Consolidated Metal Products (CMP) business. The acquisition expands Flack Steel’s penetration into the bare and painted hot-rolled and cold-rolled carbon steel, galvanized, stainless steel and aluminum markets. CMP provides metal processing for construction, transportation, HVAC, lighting, appliance and other […]
Worthington Industries posted net sales of $699.8 million and net earnings of $23.2 million for second quarter 2016 ending November 30, 2015. CEO John McConnell called it a “solid performance for the quarter in the face of some market weakness.” Sales were down 19.7 percent compared to the prior year’s second quarter as result of […]
Nucor is expecting weaker financial results in fourth quarter. Operating performance in the steel mill segment was down from third quarter, especially at sheet and bar mills, as lower selling prices outpaced the decline in raw materials pricing. “This performance is due to continued deterioration in global steel markets amplified by global excess capacity and […]
SSAB expects to report lower earnings for fourth quarter due to decreased volumes and falling prices in Europe and North America but is looking forward to better market conditions in Q1. Market conditions have deteriorated further than expected from the previous forecast for fourth quarter. Plate and strip market prices fell sharply during the quarter […]
Steel Dynamics expects reduced profitability from its steel operations in fourth quarter compared to third. Lower steel shipments, customer destocking and seasonal demand weakness are impacting the steel platform and, in particular, commodity grade hot roll products. Lower steel pricing will offset any benefits from lower ferrous scrap costs. Fabricated steel joist and decking products […]
Demand for architecture design services fell again in November. The Architecture Billings Index score was 49.3, down from 53.1 in October and 53.7 in September. The Index has been up and down throughout 2015. The new projects inquiry index was 58.6, up just barely from 58.5 in October. “Since architecture firms continue to report that […]
Manufacturing activity in the New York area declined for the fifth consecutive month in December. The rate of decline slowed somewhat as indicated by the headline general business index of the Empire State Manufacturing Survey, climbing six points to register -4.6. The new orders continued to fall to an index reading of -5.1. Shipments, however, […]
Union workers at Allegheny Technologies have been locked out of the company for more than four months after balking at concessions in the company’s final proposal. The lockout was an insult to USW workers who agreed to earlier concessions to bring a $1.2 billion steel rolling mill to Brackenridge, Pa. The mill was considered vital […]