Algoma Steel said its quarterly earnings were impacted by falling steel prices and lower buying associated with the United Auto Workers (UAW) strikes in the US. But with the strikes wrapping up, it expects a recovery in both pricing and demand moving forward.
A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU.
There was consensus that steel prices would crash on the UAW strike and then rebound just as sharply once the union and the “Big Three” automakers reached tentative deals.
Manufacturing activity in the US contracted once again during the month of October.
The “Big Three” Detroit-area automakers' tentative labor agreements are set to expire on April 30, 2028, six months longer than the normal four-year agreements.
SMU will host a Community Chat on Wednesday Nov. 15 at 12 pm ET with Alan Amici, president and CEO of the Center for Automotive Research (CAR). The webinar is free for all to attend live. A recording will be available to SMU subscribers. You can register here.
Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.
The United Auto Workers (UAW) reached a tentative agreement with General Motors on Monday. If all tentative deals on the table are ratified, this could signal the end of the "stand-up strike."
The St. Lawrence Seaway is reopening after a tentative agreement has been reached between striking Unifor members and the St. Lawrence Seaway Management Corp. (SLSMC).
General Motors has reached a tentative labor agreement with the United Auto Workers (UAW) union, according to an article in Bloomberg.
The United Auto Workers (UAW) union on Saturday evening expanded its strike again General Motors.
Stellantis and the United Auto Workers (UAW) union announced on Saturday that they had reached a tentative labor agreement.
With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.
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.
I wrote on Sunday that it could be a busy week for steel. It has been.
These were the headlines hot off the press Wednesday night:
Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.
Mill lead times for flat-rolled products pushed out this week once again across the board.
Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.
Ford and United Auto Workers (UAW) leaders confirmed on Wednesday evening that they had reached a tentative labor agreement. “Ford is proud to assemble the most vehicles in America and employ the most hourly autoworkers,” Ford CEO and President Jim Farley said in a statement sent to SMU. “We are focused on restarting Kentucky Truck […]
Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […]
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.
The United Auto Workers (UAW) union and Ford could soon reach a tentative labor deal.
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 […]
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
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.
The UAW went on strike on Tuesday at General Motor’s truck and SUV plant in Arlington, Texas – the automakers’ largest assembly plant in the US.
The United Auto Workers (UAW) union expanded its strike on Monday morning, hitting Stellantis’ largest plant.
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 […]
United Auto Workers (UAW) president Shawn Fain indicated on Friday that a deal between the UAW and the “Big Three” automakers could be in sight.