US consumer confidence pulled back in August, declining for the first time in four months. The result came in after the index jumped to its highest level in nearly two years the month prior, consumers’ assessment of current business and labor market conditions deteriorated, The Conference Board reported.
The spot market remains quiet on fears of a potential United Auto Workers (UAW) union strike late next week.
President Biden downplayed the prospect of a strike by the United Auto Workers (UAW) union in comments on Monday, according to a report by Detroit’s WXYZ’s news.
Some of you may remember when the year “2000” seemed like the distant future.
We’re roughly a week removed from the 2023 Steel Summit and some of the discussions, both on stage and the the sidelines of the event, remain of critical importance to many in the industry.
Sheet prices have fallen this week, after a small pause last week when prices saw mixed results. Tags have now been largely trending lower since July.
United Auto Workers (UAW) at battery cell maker Ultium Cells in Lordstown, Ohio, ratified an interim labor agreement over the weekend.
President and CEO of Ternium Mexico Cesar Jimenez discussed positive demand trends and challenges in the Mexico market with SMU managing editor Michael Cowden during a fireside chat on Tuesday, Aug. 22 at the SMU Steel Summit in Atlanta.
Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.
The United Autoworkers (UAW) union said Friday its strike authorization vote passed “with near universal approval” from its members at the Detroit 3 automakers.
This year, the 13th annual edition of our Summit, we polled more than 1,450 attendees about where prices and demand would be, come August 2024.
I learned a lot at Steel Summit this year. More than I can do justice to in one column. Below are four things that have stayed with me after the conference closed on Wednesday afternoon. Another, as I highlighted earlier this week, was electricity – who gets it, and which energy sources we use. 1. […]
Nucor executive Daniel Needham detailed at this year's Steel Summit what’s on the horizon for the steelmaker as the company continues to diversify.
A wide-ranging discussion on the SMU Steel Summit 'Domestic Steel Panel: Investing for the Future' saw executives from leading steel companies debate the likelihood of passing on a surcharge to consumers for products with lower CO2 content.
Ford Motor is getting white-collar workers ready to do blue-collar jobs at parts depots in the event of a strike, according to an article in The Detroit Free Press on Thursday.
I am happy to announce that there are officially now more than 1,400 people attending SMU Steel Summit next week in Atlanta. That’s a new record for us, and I thank all of you for making it possible. I am also happy to say that Barry Zekelman, executive chairman and CEO of Zekelman Industries, will be joining us for the first fireside chat of Steel Summit on Monday, Aug. 21, at 3:40 pm ET.
Despite reporting the third highest quarterly revenues in its history, Greenwave Technology Solutions still posted a loss for the quarter ended June 30.
If you haven’t already registered, there’s still time to join the more than 1,300 attendees from over 500 companies that will be in Atlanta for Summit.
CRU research manager Stephen Williamson shares his views of this week's aluminum market.
First, I want to say a big “thank you” to everyone who is attending Steel Summit this year. Earlier this week, we officially broke the attendance record we set last year. Numbers continue to rise. More than 1,300 will be there when the event kicks off on Monday, Aug. 21, at the Georgia International Convention Center in Atlanta.
A former leader of Ford Motor Co. recently spoke out on the potential for a United Auto Workers (UAW) strike at the Big Three Detroit automakers.
Canadian union Unifor kicked off negotiations with the Detroit 3 automakers today, with its president saying the “talks will be the most consequential and closely watched in decades.”
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, and what people are talking about in the market.
SMU’s hot-rolled coil price slipped a little below $800 per ton ($40 per cwt) this week for the first time in more than six months. You’d think that might have caused more of a fuss than it appears to have. Instead, many of the conversations I’ve had with folks in the market today have been […]
A strike at the Big Three Detroit automakers continues to loom on the horizon, and that potential is increasing as the United Autoworkers (UAW) union is pushing for big changes to labor contracts in the wake of soaring profits from the automakers.
This is a tough time to be in the forecasting business, especially when it comes to steel. You might have a battle-tested model based on the latest macroeconomic data, prices, inventories, and lead times. The catch: Whatever a forecast might showing now could be overshadowed by events next month. Namely, labor negotiations between the United Auto Workers (UAW) union and automakers General Motors, Ford, and Stellantis.
US Midwest premium has continued to trend lower. Slack end-use demand is the main driver as the CME backwardation holds for dates further out in 2023. Lower freight and weak LME prices lower the replacement costs of aluminum and thus lower the floor for the premium.
SMU's Current and Future Steel Buyers Sentiment Indices have both fallen this week from the last market check, according to our most recent survey data.
It feels like the market is in a bit of a holding pattern. Lead times are roughly sideways, according to our latest check of the market. Will they begin to extend now that most mills are into September not only for cold-rolled and coated products but also for hot band?
Latin American steelmaker Ternium remains optimistic that positive trends in the Mexican market will help it to continue increasing its market share.