Tag: Automotive

U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.

Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.

Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.

The St. Lawrence Seaway is shut down after members of Canada’s Unifor union went on strike against the St. Lawrence Seaway Management Corp. (SLSMC) this past weekend.

Taylor Swift’s “Shake It Off” could be the theme song for the sheet market over the last month. A UAW strike? Shake it off. The lowest ABI since December 2020? Shake it off. A potentially widening conflict in the Middle East? Shake it off. Sheet prices have been rising since late September, and hot-rolled coil […]

Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.

Cleveland-Cliffs says it is taking advantage of higher demand from the automotive sector – its biggest end-use market – this year.

This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.

Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.

Nucor’s President and CEO Leon Topalian has been named the new chairman of the World Steel Association (worldsteel).

SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]

The United Auto Workers (UAW) union announced a new phase in its ongoing stand-up strike against the Big Three Detroit-area automakers on Friday.

With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.

Sheet prices remain on an upward trend. Many of you expect that to remain the case - assuming that the UAW strike doesn’t drag on much longer.

The United Auto Workers (UAW) said 4,000 union members at Mack Trucks have rejected a tentative labor agreement and went on strike Monday morning.

The United Auto Workers’ (UAW) strike against the Big Three Detroit-area automakers was not expanded on Friday, as “significant progress” is being made in contract negotiations.

A large Detroit-area scrap buyer has settled scrap tags for October, with busheling scrap sideways, a source told SMU.

The Big Three automakers reported their third-quarter sales this week, with two of the three showing strong year-over-year gains.

A recap of SMU's Oct. 4, 2023, Community Chat featuring AGC chief economist Ken Simonson and his outlook for the construction markets.

Ford Motor Co. presented its seventh offer to the United Auto Workers (UAW) on Tuesday amid the union’s ongoing strike.

Ford Motor Co. announced layoffs in Ohio and Illinois on Monday, citing the ongoing United Auto Workers (UAW) strike.

General Motors has announced layoffs at its Parma Metal Center in Ohio and Marion Metal Center in Indiana as a result of the ongoing United Auto Workers (UAW) strike.

Will the sheet price hike announced by Cleveland-Cliffs (and quietly followed by at least some mills) stick?

The US scrap market for October is a bit unsettled as the UAW strike against the Big Three automotive companies has expanded and shows scant signs of an imminent settlement.

Pessimism grew among metalformers in September’s business report from the Precision Metalforming Association.

The latest SMU Market Survey results are now available on our website to all Premium members.

SMU's weekly survey reflects what people in the market are talking about. Lately, a popular topic has been the United Auto Workers (UAW) strike.

The United Auto Workers (UAW) president Shawn Fain is scheduled to make an announcement on Facebook Live, according to the UAW International Union's Facebook page.