As the deadline for a United Auto Workers (UAW) strike nears, the vast majority of market participants polled by SMU expect union workers will strike. The post Steel Buyers Expect UAW Strike, Survey Shows appeared first on Steel Market Update.
Steel Manufacturers Association (SMA) president Philip K. Bell will be joining as a panelist and presenter at the 2023 SMU Steel Summit Conference Aug. 21-23 in Atlanta. “I’ve been attending Steel Summit for over a decade, and each year it gets bigger and better,” Bell said in a sitdown with SMU. This year he will […] The post Steel Summit 2023 Speaker Focus: Philip K. Bell appeared first on Steel Market Update.
New orders for manufactured durable goods increased for the third consecutive month in May, increasing 1.7% from the previous month to $288.2 billion, according to the US Census Bureau. This follows a 1.2% month-over-month (MoM) gain in April, according to Census data. Transportation equipment is also up three consecutive months, up 3.9% to $102.6 billion. The bureau said that […] The post Durable Goods Up in May, Third Straight Increase appeared first on Steel Market Update.
Companies should keep a watchful eye on pricing and lead times, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the June 27 meeting of its Sheet Metal/Air Handling Council. During May’s meeting, most HARDI participants thought that prices would continue to drop. Over half of the individuals thought it […] The post HARDI Members on Sidelines, Cautiously Watching Market appeared first on Steel Market Update.
New calculations suggest that the lifespan of steel might be shorter than originally believed, according to a report released by the Steel Manufacturers Association (SMA). The report provides new calculations suggesting that the lifespan of steel is in the range of 25 to 35 years, rather than 40 years. The shorter lifespan increases the availability of […] The post SMA: Shorter Steel Lifespan Could Relieve Scrap Demand appeared first on Steel Market Update.
The General Motors Co. (GM) recently recognized its top suppliers at its annual Supplier of the Year event in San Antonio, Texas. The Supplier of the Year award honors outstanding international suppliers who exceed GM’s requirements. Among the award winners were steelmakers Cleveland-Cliffs Inc., Nucor Corp., and Companhia Siderurgica Nacional (CSN). “We are thrilled to […] The post Steelmakers Named in GM’s Top Suppliers Awards appeared first on Steel Market Update.
By now, anyone who works in the steel industry understands how important sustainability is. Steel is the most recycled material in the world, and recycled steel is a prominent ingredient in electric-arc furnace (EAF) steelmaking. Steel Market Update’s final Spotlight of 2022 gets into sustainability with Philip Bell, president of the Steel Manufacturers Association (SMA), […] The post SMU Spotlight: Phil Bell Talks Sustainability appeared first on Steel Market Update.
Growth is on the horizon for Commercial Metals Company (CMC). The Irving, Texas-based metals provider and recycler announced its acquisition of Advanced Steel Recovery LLC (ASR) in a press release on Sept. 15. In addition to supplying recycled ferrous metals, Rancho Cucamonga, Calif-.based ASR possesses processing and brokering capabilities with which they can procure material […] The post CMC Announces Acquisition of Advanced Steel Recovery appeared first on Steel Market Update.
Schnitzer Steel Industries Inc. is shaking things up. The Portland, Ore.-based recycler and steelmaker has appointed Richard Peach to serve as its executive vice president and chief strategy officer, an expanded role. Peach previously acted as the company’s executive vice president, chief financial officer, and chief strategy officer. Schnitzer has also appointed Stefano Gaggini, currently […] The post Schnitzer Expands Strategy Role, Names New CFO appeared first on Steel Market Update.