Tag: Cleveland-Cliffs

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

I didn’t see the Cleveland-Cliffs price increase coming on Wednesday. And I didn’t expect to see a target base price of $750 per ton ($37.50 per cwt) for hot-rolled coil. But I’ve since heard that other mills, even if they hadn’t publicly announced anything, had been quietly raising prices before Cliffs publicized its increase. Are […]

Cleveland-Cliffs is increasing its sheet tags, setting a new base price for hot-rolled coil, effective immediately, the company said in a press release on Wednesday, Sept. 27.

The United Steelworkers International (USW) executive board on Tuesday appointed David McCall as the union’s new international president. He will fill the remainder of Tom Conway’s term.

Tom Conway, international president of the United Steelworkers (USW) union since 2019, has died at age 71.

We’ve been busier than usual lately covering two major events (in addition to our pricing and data services) – the potential sale of U.S. Steel and the United Auto Workers (UAW) union strike. Let’s review some possible developments in each. U.S. Steel Sale – Back in the Headlines We learned last week that Stelco had […]

Cleveland-Cliffs said on Friday its United Steelworkers (USW) union employees at its Northshore Mining operations in Minnesota have ratified a new three-year labor agreement.

Cleveland-Cliffs Inc. and the United Steelworkers (USW) at Cliffs’ Northshore Mine in Minnesota have reached a tentative labor agreement.

U.S. Steel’s ‘strategic alternatives’ process is continuing. This week the Pittsburgh-based steelmaker confirmed to shareholders that it has entered into nondisclosure agreements (NDAs) and has begun due diligence on a potential sale.

I headed back to the Atlanta airport after Steel Summit in 2022 hoping to catch up with a few colleagues and contacts only to learn that Cleveland-Cliffs had just announced a price hike. So, I set everything aside, opened up my laptop, and filed a short article about the $75-per-ton ($3.75-per-cwt) price increase from a […]

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.

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. […]

Cleveland-Cliffs has laid out a path forward for its potential purchase of U.S. Steel.

Esmark has withdrawn its bid for U.S. Steel.

At every Steel Summit, a few themes seem to emerge that I didn’t anticipate. In 2021, I remember the theme being that scrap would be the next precious metal. (And also that Cleveland-Cliffs planned to expand in to the scrap market.) This year, I expected that there would be a lot of discussion about decarbonization. What I didn’t entirely expect was that we’d be talking so much about electricity and power generation.

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.

I’m excited to see pretty much the entire steel industry this week in Atlanta. I’m looking forward to the networking and to learning from our great lineup of speakers. I also what not draw your attention to some highlights from our latest steel market survey. (Full results are here.) Some of these topics will be discussed along the sidelines as well as up on the stage.

The United Steelworkers (USW) union is standing firm in its backing of Cleveland-Cliffs’ bid for U.S. Steel.

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.

The US Department of Commerce has published its preliminary findings in the antidumping (AD) trade case investigating tin mill products from China and Canada.

ArcelorMittal is considering throwing its hat into the ring as a potential suitor for U.S. Steel, according to an article in Reuters on Wednesday.

U.S. Steel dropped a bombshell last week when it announced that it is up for sale. While a company buyout would be profitable for any buyer, there could be regulatory hurdles, according to industry analysts.

I wrote on Sunday about U.S. Steel being for sale and Cleveland-Cliffs announcing that it was the among bidders for the iconic Pittsburgh-based steelmaker. I have heard some interesting theories on who the other bidders might be. Foreign mills, domestic mills, private equity - even Elon Musk, which I think is when things started to really jump the shark.

Esmark Inc. announced on Monday a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel of $35 per share.

US plate producers were successful in their most recent effort to have the suspension agreement on cut-to-length plate imports from Russia removed and replaced with antidumping duties.

The spat between U.S. Steel and Cleveland-Cliffs over a proposed sale of the Pittsburgh-based steelmaker continued into Sunday evening. U.S. Steel confirmed that it had received an unsolicited offer from its Cleveland-based competitor. It alleged that Cliffs had “refused to engage” in the customary processes for assessing valuation in a press release received by SMU at 7:01 pm ET on Aug. 13.

I planned to write this column about some of the big themes we’ll be discussing at Steel Summit. That plan changed when U.S. Steel announced on Sunday afternoon that it was conducting a formal review of a sale of all or part of the company after receiving multiple unsolicited offers. It changed yet again when Cleveland-Cliffs said its offer for U.S. Steel had been rejected.

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.

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.

An unusual clash of powerful forces is in full swing over tin mill products. An antidumping petition was filed against eight countries in January of this year, while an anti-subsidy petition was filed against imports of tin mill products from China at the same time.