Tag: Stelco

ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.

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 […]

Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.

While Canadian integrated steelmaker Stelco remains committed to decarbonization its steelmaking operations, it has no plans to convert to electric-arc furnace (EAF) steelmaking, nor to buy an EAF steelmaker anytime soon.

Canadian steelmaker Stelco reported lower results in the second quarter year over year on decreased average selling price per net ton and lower shipping volume, but earnings improved sequentially on higher average selling prices.

We are counting down the days until SMU’s Steel Summit Conference on Monday-Wednesday, Aug. 21-23, in Atlanta. It’s only a little over two months away. Approximately 755 people have already registered. Our discounted room blocks are almost gone. Register here. The event will again be held at the Georgia International Convention Center, a massive conference center in close […]

Canadian flat-rolled steelmaker Stelco swung to a loss in the first quarter on lower selling prices and increased costs. The Hamilton, Ontario-based steelmaker said that increased shipments weren’t enough to offset those headwinds. It predicted better times in the second quarter. “Prices in the second quarter have improved to more favorable levels, lead-times have normalized, […]

As you make your travel plans for this summer, don’t forget about this year’s Steel Summit Conference in Atlanta. The event will again be held at the Georgia International Convention Center, a world-class conference facility adjacent to the Hartsfield-Jackson Atlanta International Airport—think low airfares and easy access. So mark your calendar for Monday-Wednesday, Aug. 21-23. The […]

Canadian flat-rolled steelmaker Stelco Holdings Inc. recorded sharply lower fourth-quarter profits. The culprit: the “triple whammy” of declining steel prices, shorter lead times, and higher costs, company chairman and CEO Alan Kestenbaum said. “Now, however, we are seeing a reversal of all of these factors with rising steel prices … lengthening lead times, and input […]

More North American steel producers are joining in the attempt to increase prices for steel sheet products. NLMK USA said in a Dec. 1 letter to customers that “due to increased order placement and extending lead times,” its base prices will increase by a minimum of $60 per ton ($3 per cwt) for spot orders. […]

Stelco Holdings Inc. intends to increase spot prices for carbon steel sheet by at least CAD $80 per ton (USD $60 per ton or $4 per cwt). The move is effective immediately, the company said in a letter to customers on Tuesday, Nov. 29, and applies equally to all new orders of hot-rolled, cold-rolled, and […]

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 […]

Steel market conditions might be tough for the balance of the year, but Stelco sees the early signs of better times in the first quarter. The Hamilton, Ontario-based integrated sheet producer is also keeping a keen eye out for potential distressed acquisitions, company executives suggested during an earnings conference call with analysts on Wednesday, Nov. […]

Canadian steelmaker Stelco posted sharply lower earnings in the third quarter on falling steel prices and higher raw material tags. The Hamilton, Ontario-based integrated sheet producer expects lower prices and short lead times to characterize the market through the end of 2022. “Despite market headwinds driven by cost inflation and a further deterioration in steel […]

The United Steelworkers (USW) union and US Steel said on Tuesday that they had reached a tentative four-year labor agreement. The USW also said that its bargaining committee had unanimously recommended that union members ratify the deal with the Pittsburgh-based steelmaker. The tentative pact covers approximately 11,000 union-represented workers at US Steel. It does not […]

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 […]

I made a contrarian case for optimism in my last Final Thoughts. Our latest survey results indicate I was more contrarian than I realized. For starters, there has been speculation in both the physical and futures markets that a strike or lockout at US Steel could catch buyers off guard and send prices spiraling upward. […]

Since this is my first time officially tackling Final Thoughts, I figured what better time than now to take a few moments and formally introduce myself. Even though you’ve been reading Premium and Executive content that I’ve authored here for SMU for a little over two years, my experience in the metals and mining industry—primarily […]

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 […]

Ratification votes on the new labor deal between Cleveland-Cliffs Inc. and the United Steelworkers (USW) are to begin Oct. 12, a union representative told Steel Market Update. The two sides agreed to a new, tentative four-year contract nearly three weeks ago. The new deal is effective Sept. 1 but does not go into effect unless a […]

Cleveland-Cliffs Inc. has reached a tentative agreement with the United Steelworkers (USW) on a new, 47-month labor contract for its mining and pelletizing operations, the company said on Friday, Sept. 9. The new deal is effective Oct. 1 but does not go into effect unless a majority of the 2,000 union members represented under the […]

Cleveland-Cliffs Inc. and the United Steelworkers (USW) union continue to work toward a new labor contract for employees at the company’s iron ore mines. A prior contract between the Cleveland-based steelmaker and workers at its mining and pelletizing operations is set to expire on Oct. 1. That contract is separate from one with its USW-represented […]

I thought it was important that I provide my take on the 2022 SMU Steel Summit Conference. It was an enlightening and emotional experience for me. The 1,291 attendees who managed to make their way to Atlanta last week got to enjoy the best steel conference SMU and our CRU parent company have ever put […]

Stelco Inc. CEO Alan Kestenbaum got candid with Steel Market Update’s (SMU) Michael Cowden during the third fireside chat of the 2022 SMU Steel Summit conference. This year was Kestenbaum’s first time speaking at the Summit. Forecasting For the Near Future Though we’ve already seen prices skyrocket and dip back down, Kestenbaum clued us in […]

Keynote speaker Paul Lowrey presented at the SMU Steel Summit Conference today, explaining his market thoughts through data on US steel market capacity, steel mill consolidation, and the scrap market. As president of Steel Research Associates (SRA) with a career spanning 30 years, Lowrey opened his segment explaining, “I’ve been labeled by some as a […]

Here’s the Steel Summit program for Wednesday, Aug. 24, at the Georgia International Convention Center in Atlanta: 7:30 a.m. – Doors open at GICC. All-day beverages sponsored by Felux and pastries sponsored by Ratner Steel  8:30-8:45 a.m. – Opening Remarks by SMU President and CEO John Packard and Senior Editor Michael Cowden 8:30-9:30 a.m. – […]

Cleveland-Cliffs Inc.’s chairman, president and CEO Lourenco Goncalves joined Steel Market Update senior editor Michael Cowden in the first fireside chat of this year’s SMU Steel Summit conference Monday afternoon in Atlanta. The Cliffs executive educated and entertained conference attendees with the unreserved honesty and candidness he has become well-known for in his long-term career […]

Canadian flat-rolled steelmaker Stelco Inc. confirmed the renewed five-year collective bargaining agreements it reached with each of its United Steelworkers (USW) locals. Stelco’s workforce represented by USW Local 1005 (Hamilton Works), USW Local 8782 (Lake Erie Works), and USW 8782b (Lake Erie Works Pickle Lines), have all voted in favor of agreements that expire on […]

United Steelworkers (USW) union Local 8782 has ratified a new, five-year labor agreement with Canadian flat-rolled steelmaker Stelco. The move effectively concludes a summer of protracted contract negotiations between Hamilton, Ontario-based Stelco and the USW. Local 8782 reported that 67% of its members voted in favor of the contract in update to members on Friday, […]

The United Steelworkers (USW) union resumed face-to-face labor talks with Cleveland-Cliffs Inc. and United States Steel Corp. this week in Pittsburgh after a brief hiatus for the USW’s 2022 Constitutional Convention Aug. 8–11 in Las Vegas. Current labor agreements with the two flat-rolled steelmakers are due to expire on Sept. 1. Cleveland-Cliffs Update In an […]