A molten steel spill at the AK Steel Ford River Rouge complex required containment by firefighters early Monday morning. “At about 2 a.m. today (Sept. 17), Dearborn Works experienced a small spill of iron from a rail car. There were no injuries and no impact to customers,” said a spokesperson for AK Steel. Dearborn Deputy […]
Hurricane Florence is expected to take a toll on shipments from the Carolinas and Virginia. In the aftermath of Hurricane Harvey, trucks were in short supply for regular freight shipments as many were diverted to the storm-affected areas to help with recovery efforts. If Florence causes similar damage, that scenario could be repeated. Truckload spot […]
Nucor is expecting earnings to improve from second to third quarter at its sheet and plate mills, despite weather-related outages at some locations. Lower sequential earnings are forecast at its steel products segment. Decreased performance at Nucor’s scrap brokerage and processing operations and at the Louisiana DRI facility will result in lower earnings for the […]
Charlotte-based Nucor Corp. will suspend operations at its sheet mill in Berkeley, S.C., and its plate mill in Hertford, N.C., in anticipation of Hurricane Florence. Operations began shutting down on Wednesday and will restart after the storm passes, said Nucor spokesperson Katherine Miller. “At Nucor, safety is our top priority…. We are closely monitoring the […]
A second contract proposal by U.S. Steel to United Steelworkers has been met with disdain by the USW bargaining committee. U.S. Steel’s Sept. 12 proposal calls for a six-year term with wage increases of 4 percent the first year followed by 2 percent annually the following five years. Workers would receive a $4,000 ratification bonus […]
The Trump administration’s negotiating objectives for NAFTA were challenged by Democrats on the House Ways and Means Committee this week. A Sept. 10 letter to U.S. Trade Representative Robert Lighthizer questioned whether the bilateral deal with Mexico was “in the spirit of the Trade Promotion Authority.” The members said they were surprised by the formal […]
The Dodge Momentum Index fell 2.9 percent in August to a reading of 164.1. The Momentum index is a monthly measure of the initial report for nonresidential building projects in planning. Commercial construction led the decrease, falling by 6.1 percent after rising 25 percent in the first seven months of 2018. “While commercial planning did fall […]
Construction employment is at a 10-year high and industry unemployment is at an all-time low, according to a new analysis of government data by the Associated General Contractors of America. The industry added 23,000 jobs in August and 297,000 jobs over the past year. Construction employment in August totaled 7,259,000, the highest level since May […]
Nucor Corp. announced plans to invest $650 million to expand the production capability at Nucor Steel Gallatin. The upgrade would increase the Kentucky flat rolled sheet mill’s capability to 3.0 million tons annually from its current level of 1.6 million tons. In addition, the maximum coil width would be increased to 73 inches. The facility […]
ArcelorMittal workers are contemplating a strike authorization after labor negotiations stalled last week. The USW complains that the company’s proposal does not measure up to the financial success that union workers helped ArcelorMittal achieve. “Rather than engaging in good faith negotiations for a fair contract, management continues to bring the same 2015 backward thinking proposals […]
A strike authorization vote by U.S. Steel union members has received overwhelming support at plants across the Midwest. “Every plant in Northwest Indiana that has voted has been unanimous. Not one member has said no (to a possible strike),” said Rick Bucher, assistant director of USW District 7 in a comment to the Chicago Tribune. […]
Section 232 tariffs on steel and aluminum products from Canada and Mexico are back in the spotlight now that NAFTA talks are, hopefully, nearing an end. Steel associations from Canada and Mexico are calling for the tariffs to be terminated while the negotiations are under way. Mexican association Canacero has stated that a NAFTA deal […]
Canada is back in the NAFTA negotiations, but dispute settlement and cultural exemptions continue to be sticking points for a new agreement. Prime Minister Justin Trudeau has stressed that Canada will hold firm on requiring a dispute resolution mechanism like Chapter 19. “As I’ve said, we will not sign a deal that is bad for […]
ArcelorMittal has moved closer to finalizing its acquisition of Italian mill Ilva Steel. The company announced on Thursday that it has reached a provisional labor agreement with Ilva’s trade union. The agreement includes a commitment to employ 10,700 workers through 2020 based on their existing employment contract, as well as another 2,000 that remain employed […]
The American Trucking Association forecasts that total freight volumes will increase by 4.2 percent to nearly 16 billion tons in 2018. Over the next decade, freight volumes will jump by 35.6 percent to 21.7 billion tons. The newly released ATA Freight Forecast 2018 to 2029 also anticipates that truck volumes will grow 2.3 percent per […]
Construction spending increased 0.1 percent from June to July and 5.2 percent for seven months of 2018 combined, with year-to-date growth for most major public and private categories, according to an analysis of new government data by the Associated General Contractors of America. Association officials said sustained growth will depend in part on contractors’ ability […]
Collective bargaining agreements for USW members at U.S. Steel and ArcelorMittal expired on Sept. 1. Workers at both companies will continue under an extended contract agreement while negotiations proceed. ArcelorMittal posted the following statement on their website: “ArcelorMittal appreciates the United Steelworkers’ willingness to continue working under current contracts while negotiations proceed. We believe this […]
Cleveland Cliffs has filed a lawsuit over mineral rights in Nashwauk, Minnesota. The iron ore company has filed suit against the Minnesota Department of Natural Resources, MDNR Commissioner Tom Landwehr and Mesabi Metallics, to prohibit Mesabi Metallics from mining iron ore on properties owned or controlled by Cleveland Cliffs. Cliffs purchased surface and mineral rights […]
The ISM Manufacturing Index reached a 14 year high as new orders, production and employment made strong gains in August. The Index issued by the Institute for Supply Management, jumped 3.2 points to a reading of 61.3, far exceeding the consensus for a posting of 57.6. New orders increased 4.9 points to 65.1, production 4.8 […]
Global manufacturing was subdued in August said J.P. Morgan and IHS Markit. The J.P. Morgan Global Manufacturing PMI was at a 21 month low of 52.5 in August, down 0.3 points from July. “August PMI data signaled a slight firming in global manufacturing output growth to a solid pace at near three percent annualized,” said […]
Austrian steelmaker Voestalpine will move part of U.S. automotive parts production to Mexico to avoid steel import tariffs. Voestalpine has 48 U.S. sites that primarily use domestic steel but about one third of company revenue relies on plate and specialty imported steels that are not produced in the United States. U.S. production accounts for one […]
The August Chicago Business Barometer recorded its first decrease in five months for a three-month low of 63.6 in August. The index was down 1.9 points from July’s reading of 65.5, according to MNI Indicators and the Institute for Supply Management-Chicago. Output and orders inched up slightly last month giving some firms breathing room to […]
Automotive sales remained healthy in August with most automotive manufacturers reporting at least moderate sales growth year-over-year. FCA US led sales with an increase of 10 percent for August. Ford sales were up 4.1 percent and Hyundai 6.0 percent. Toyota sales dropped 2 percent. Sales for German automaker Volkswagen inched up 0.7 percent while Mercedes-Benz […]
The United Steelworkers’ negotiating committee for U.S. Steel employees will be returning home to present informational meetings to members and seek a strike authorization vote. U.S. Steel’s demand for a six-year contract with deep concessions and minimal wage increases has been rejected by the USW bargaining committee. The offered bonus and wage increase in the […]
Tariffs are harming, and sometimes causing devastating effects, for small manufacturing businesses, said speakers at the 2018 SMU Steel Summit held in Atlanta this week. An informal survey of 486 people at the summit showed almost half (49 percent versus 43 percent) of those polled felt the Section 232 tariffs were having a negative impact […]
United Steelworkers have not reached a collective bargaining agreement with ArcelorMittal or U.S. Steel with just one day remaining before the current contracts expire. As union officials consider their options, including a possible strike, marches and rallies were planned for Thursday, Aug. 30, at ArcelorMittal and U.S. Steel locations to show union solidarity. “Steelworkers have made […]
Labor shortages are highlighted in a new survey released by the Associated General Contractors of America and Autodesk. In a survey of more than 25,000 respondents, 80 percent of firms report they cannot find enough hourly craft workers to fill the positions that make up the bulk of the construction industry. The problem is widespread […]
The U.S and Mexico announced on Monday a bilateral trade deal that could replace NAFTA if Canada does not agree to terms by the end of the week. President Trump said that he was ready to terminate NAFTA and replace it with the United States-Mexico Trade Agreement, calling the new name “elegant.” Mexico President Enrique […]
Flack Global Metals announced the appointment of David Feldstein to Chief Market Risk Officer. Feldstein will bring more than 15 years of extensive knowledge of commodity markets along with a history of customized and profitable financial structuring to assist customers and the FGM team in presenting, training, quoting and executing a wide range of fixed price […]
Mexican steel association Canacero said it has been called to Washington to discuss replacing the 25 percent tariff on steel imports to the U.S. with quotas. A spokesperson for Canacero President Maximo Vedoya verified the request by Washington in a statement to Reuters. “Talks are taking place now and the most important thing for the […]