Final thoughts
I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.
Tag: U.S. Steel
USS idles iron, steelmaking 'indefinitely' at Granite City Works
U.S. Steel said it has indefinitely idled steelmaking at its Granite City Works in southern Illinois near St. Louis.
Trane ships more than 1 million HVAC units made with green steel
A year after signing purchase agreements with two US steelmakers, Trane Technologies has shipped more than 1 million HVAC units produced with low-carbon steel.
SMU Steel Demand Index Improves Again, Moves Into Expansion Territory
Steel Market Update’s Steel Demand Index has moved into growth territory after seeing steady improvement since mid-September, according to our latest survey data.
California Legislators Urge U.S. Steel to Find a Buyer for UPI Mill
A group of California members of Congress is calling on U.S. Steel to keep its USS-UPI steel mill in Pittsburg, Calif., open by finding a buyer for the operations.
Tampa Steel Conference Will Be Here Before You Know It. Don't Miss Out!
We’re just 12 weeks from Tampa Steel Conference 2024, one of the premier North American steel community events.
USS Mon Valley Works Cold Mill Slow To Return From October Outage
U.S. Steel’s Mon Valley Works in western Pennsylvania has not resumed full production of cold-rolled coil (CRC) following an outage last month, a company spokeswoman confirmed.
USS To Lay Off 105 IT Workers
U.S. Steel said it is laying off 105 IT workers in Pittsburgh, according to a November WARN notice filed with the Pennsylvania Department of Labor and Industry.
Final Thoughts
You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]
SunCoke Earnings Tumble in Q3; Deal With USS on Granite City Moves Forward
Although SunCoke Energy Inc.'s third-quarter earnings slumped due to market challenges, the company said it is content with its third-quarter performance.
AM/NS Calvert Increases Sheet Again, Seeks $900/ton HR base
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
Auto Alliance Opposes a Potential USS-Cliffs Merger
The Alliance for Automotive Innovation (AAI), the association representing auto manufacturers making most vehicles sold in the US, has voiced its opposition to the potential acquisition of U.S. Steel by Cleveland-Cliffs.
USS Unveils Battery-Operated Locomotives in Green Push
U.S. Steel said it has converted two of its diesel switcher locomotives to “state-of-the-art battery-operated locomotives.”
Cleveland-Cliffs Raises Sheet Prices, Seeks $900/ton for HRC
Cleveland-Cliffs said Tuesday that it would increase spot market base prices for carbon hot-rolled, cold-rolled, and coated steel sheet.
USS-UPI Operations To Be Idled by Year's End
It’s official: U.S. Steel is idling its UPI operations in Pittsburg, Calif., by year’s end.
U.S. Steel Talks Price Hike, Investments; Says Little on Sales Process
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.
Final Thoughts
I wrote on Sunday that it could be a busy week for steel. It has been.
HRC Futures Go Vertical
These were the headlines hot off the press Wednesday night:
U.S. Steel Posts Lower Q3 Profit on Drop in Sheet Prices. Quiet on Sales Process
U.S Steel posted sharply lower earnings as a result of a drop in steel prices and only modest gains in shipments. The Pittsburgh-based steelmaker said little about the sales process it launched in August.
U.S. Steel Up Another $100/ton on Sheet
U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.
SMU Price Ranges: Sheet Up as Price Hikes Gain Traction
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
Cliffs Execs Quiet on Potential U.S. Steel Deal
On the company’s third-quarter earnings call with analysts on Tuesday, Oct. 24, Cleveland-Cliffs executives were careful not to disclose anything about their talks with U.S. Steel on a potential acquisition.
Final Thoughts
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 […]
SDI Doesn’t Rule Out Inorganic Growth M&A
On its third-quarter earnings conference call on Thursday, Oct. 19, Steel Dynamics Inc. executives did not rule out the possibility of ‘inorganic growth’ opportunities.
HRC Futures: A Swing in the Market
Well, what a difference a month makes…
U.S. Steel Raises Sheet Prices by $100/ton
U.S. Steel on Thursday said it planned to increase spot base prices for steel sheet by at least $100 per ton ($5 per cwt).
Subcontractors for USS Stole~$2M of Scrap: Police
Subcontractors for U.S. Steel in Indiana stole ~20 million pounds of scrap valued at ~$2 million over a two-year period.
U.S. Steel Debuts New Product, COASTALUME
U.S. Steel, in collaboration with DuPont, announced on Tuesday a new product, COASTALUME™, engineered specifically for coastal environments.
Worldsteel Elects Nucor’s Topalian as New Chairman
Nucor’s President and CEO Leon Topalian has been named the new chairman of the World Steel Association (worldsteel).
SMU Steel Demand Index Inches Up Again But Still in Contraction
Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.