The White House released a statement on Nov. 28 requesting Congress to pass immediate legislation that would adopt the tentative agreement between railroad workers and operators. As concerns of a rail strike grow, an agreement could deter members from striking. “This agreement was approved by labor and management negotiators in September. On the day that […]
The potential for a rail strike still remains after the results of union votes were announced on Nov. 21. While members of the SMART yardmasters and Brotherhood of Locomotive Engineers and Trainmen (BLET) voted to accept their proposed labor deals, members of the International Association of Sheet Metal, Air, Rail, and Transportation Workers – Transportation […]
As steel volumes continue to grow, the Port of Hamilton, Ontario, is receiving funding from the Canadian government to increase its steel handling productivity. Canada’s National Trade Corridors Fund is providing CAD $4.9 million (US $3.65 million) in funding to relieve supply chain congestion at the port. The waterway is a critical piece of infrastructure […]
Producer prices came in below expectations in October, adding to hopes that inflationary pressures are beginning to ease, the US Labor Department reported. Last month’s Producer Price Index (PPI), a measure of the prices received for final-demand products, advanced just 0.2% month-on-month (MoM) and 8% from a year ago, the smallest annual gain in more […]
The Tampa Steel Conference – which SMU does every February together with the Port of Tampa Bay – offers the tantalizing prospect for those of us in the Midwest of getting out of the cold to network outdoors in Florida. We’ll again hold the conference at the Tampa Marriot Water Street hotel. We’ve got a solid agenda […]
Drought-stricken rivers have affected areas across the United States, leaving some concerned about the impact that persistent dry skies might have. The steel industry relies heavily upon the ability to ship material up and down the Mississippi River, as shipping high volumes of goods via barge is substantially cheaper than truck or rail. However, if […]
The potential for a rail strike in the US has been pushed back to early December. But concerns remain for the steel industry, which relies heavily on rail transportation. After rejecting a proposed national labor contract in October and reigniting the possibility of a rail strike, the Brotherhood of Maintenance of Way Employees (BMWE) Division […]
Sticking with a business model that’s proven successful over the past three decades, David Stickler and his team at Global Principal Partners (GPP) hope to make their next endeavor with Hybar’s two new rebar minimills another prosperous one. Steel Market Update sat down with the industry veteran this week in an exclusive interview to discuss […]
Sticking with a business model that’s proven successful over the past three decades, David Stickler and his team at Global Principal Partners (GPP) hope to make their next endeavor with Hybar’s two new rebar minimills another prosperous one. Steel Market Update sat down with the industry veteran this week in an exclusive interview to discuss […]
Arkansas has become a hub for steel production in the southern US, and it will soon be home to another steel mill. Hybar, a newly formed company led by steel industry veteran David Stickler, announced it will build a $500 million greenfield minimill to produce rebar in northeast Arkansas just outside of Osceola. The new […]
SMU has released its latest full survey results, and I want to highlight some big changes that we’ve seen in the data compared to just two weeks ago. Chief among them is what appears to be a big shift in service center pricing and buying patterns. We had seen most service centers trying to hold […]
Just weeks after a union representing rail workers across the nation rejected a proposed labor agreement, a second union has now also voted down the national tentative agreement, further reigniting the potential for a national railway strike. The Brotherhood of Railroad Signalmen (BRS) voted against ratification of the tentative agreement which was reached on Sept. […]
Engineered shapes producer McDonald Steel Corp. is adding plate processing capabilities to its portfolio via the acquisition of General Steel Corp. Mac Steel GSC Inc., a wholly-owned subsidiary of McDonald Steel, recently acquired the assets of General Steel, a Cleveland-based plate service center and processor, for an undisclosed sum. The addition of plate processing capabilities naturally […]
The strong performance of SSAB Americas was a bright spot in Swedish parent company SSAB’s third quarter earnings report as the company’s European segment was impacted by weaker demand and low shipments. SSAB Americas posted Q3 operating profit of SEK 3,036 million (US$276.65 million) — a 61% improvement from the same quarter of 2021. The […]
A new railcar manufacturing facility will soon be built in Washington County, Md. Hitachi Rail announced plans for a $70 million factory to build all types of trains to meet growing demand in North America’s rail market. Construction of the facility’s building will use 1,050 tons of steel including joists, girders, and structural steel columns. […]
Time for a contrarian, optimistic thought experiment. First the bad news: Sentiment is increasingly bearish on months of falling steel and scrap prices, nearly all respondents to our latest survey report that mills are willing to negotiate lower still, and flattish lead times provide paltry evidence for a rebound. A quick check of the headlines […]
Nearly a month after reaching a tentative labor agreement, the possibility of a rail strike is back on the table, as the Brotherhood of Maintenance of Way Employees Division (BMWED) of the International Brotherhood of Teamsters union announced on Oct. 10 the rejection of its deal with the freight rail lines. Union members voted in […]
We’ve spilled a lot of ink over labor contract talks between US Steel and the United Steelworkers (USW) union. That issue is no doubt important. But here are two more that are just as important, if not more so. And you should have both on your radar as you start this week. First is the […]
Ingram Marine Group, the largest US barge operator, on Oct. 6 declared force majeure in a letter to customers. The company said low water levels had made it impossible to make timely deliveries. Vessels have run aground near Memphis, Tenn., and there is a logjam of more than 122 vessels/barges near Stack Island, Miss., impeding […]
BNSF Railway is thinking of a master plan. The Class I freight railroad announced on Oct. 1 its plans to invest more than $1.5 billion into a master-planned inland facility in Southern California. Named Barstow International Gateway, BNSF’s new hub location will be approximately 135 miles northeast from the Ports of Long Beach and Los […]
On the heels of a lengthy arbitration period, union negotiators and the major rail companies have settled on a tentative labor agreement to further avoid a strike. A statement made on Sept. 15 by the US Department of Labor noted, “Moments ago, following 20 consecutive hours of negotiations at the Department of Labor, rail companies […]
The American Iron and Steel Institute (AISI) called on Congress to intervene in the ongoing nationwide rail negotiations to ensure a successful resolution is reached. In a Sept. 14 letter on behalf of the American steel producers AISI represents, Kevin Dempsey, the association’s president and CEO expressed concerns about “the state of ongoing labor negotiations in […]
The long, hot summer of labor unrest that I’d feared early this year didn’t materialize. But that doesn’t mean we’re out the woods yet. The United Steelworkers union and Cleveland-Cliffs Inc. have agreed to a new labor pact. In Canada, meanwhile, the USW has ratified agreements with both Algoma and Stelco. But the union and […]
A potential nationwide rail strike could wreak havoc on the steel industry, association executives warned, negatively impacting the shipment of finished and semi-finished steel products as well as steelmaking raw materials. “Our supply chains are stressed and any disruption in freight rail service will hurt our economy by adding costs and delays to a rail […]
Nucor Corp. is urging buyers to be prepared in case of a strike by railroad workers. The Charlotte, N.C.-based steemaker warned in a Sept. 13 letter to customers that a Sept. 16 rail walkout is possible and provided some details around the situation. A Presidential Emergency Board was established to help the Class I railroads […]
East coast ports are currently battling crippling congestion, a problem that will likely not wane as we approach peak cargo season. To avoid west coast congestion, many importers have diverted shipments eastward. Unfortunately, the same challenges followed. As excess containers stack up, the port of New York and New Jersey has resolved to implement a […]
Cleveland-Cliffs Inc. has reached a tentative agreement with the United Steelworkers (USW) on a new, four-year labor contract, the company and the union said on Saturday, Aug. 27. The agreement is pending ratification by the USW local union members, who are likely to vote in the coming days on the pact negotiated by the bargaining […]
Producer prices fell in July, stunning a 27-month growth run. Last month the headline index declined by 3.1%, seasonally adjusted, driven by a plunge in energy prices that slowed the pace of inflation, the US Labor Department reported. July’s producer price index (PPI), a measure of the prices received for final-demand products, fell 0.5% from […]
This will be my last article prior to the SMU Steel Summit Conference which begins on Monday morning of this coming week. We are now six days away from the start of the conference. As you can imagine, this is a hectic time for the SMU and CRU events teams. Some of the event’s staff […]
This will be my last article prior to the SMU Steel Summit Conference which begins on Monday morning of this coming week. We are now six days away from the start of the conference. As you can imagine, this is a hectic time for the SMU and CRU events teams. Some of the event’s staff […]