Tag: SMU

“Life at Cleveland-Cliffs has been intense,” said CEO Lourenco Goncalves, referring to a pandemic-challenged year in 2020 and major changes to what just one year ago was an iron ore company. “Without question, 2020 was the most transformational year in our company’s 173-year history,” said Goncalves. “We completed two seminal acquisitions, AK Steel and ArcelorMittal […] The post Goncalves: 2020 was a “Transformational Year” for Cleveland-Cliffs appeared first on Steel Market Update.

President Joe Biden has signed an executive order officially implementing a U.S. supply chain review for critical products such as semiconductors – a lack of which has led to widespread automotive production outages. “Recent shortages of automotive semiconductor chips have forced slowdowns at car manufacturing plants, highlighting how shortages can hurt U.S. workers,” the White House said […] The post Biden Signs Supply Chain EO Amid Fears of Q2 Chip Shortages appeared first on Steel Market Update.

Among steelmaking raw materials, the prices of iron ore, pig iron and steel scrap moderated through February following large gains seen in previous months. Prices declined as much as 16% month-over-month for those three products, but remain 34-57% higher compared to three months prior and as much as 87% higher than levels one year ago. […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.

United Steelworkers union members will vote March 1 on whether to ratify a tentative contract agreement covering NLMK USA’s operations in western Pennsylvania, a union official said. USW District 10 Staff Representative Todd Clary confirmed the date next Monday. He declined additional comment until after the vote. NLMK USA President and CEO Robert D. Miller also confirmed […] The post USW Slates NLMK USA Ratification Vote for March 1 appeared first on Steel Market Update.

Voestalpine has temporarily halted production as its hot-briquetted iron plant in southern Texas, the company said. “Our HBI plant in Texas experienced a temporary shutdown and made the decision to continue the shutdown,” a spokeswoman for the Austrian steelmaker said in an email to Steel Market Update on Feb. 18. The company made the decision […] The post Winter Storms Prompt Voestalpine to Temporarily Halt HBI Production in Texas appeared first on Steel Market Update.

It might be T-shirt weather before steel buyers in Canada have access to spot tons of sheet and plate, according to market participants. The three main Canadian sheet suppliers–Algoma, Stelco and ArcelorMittal Dofasco–are largely sold out through May and are in some cases out as far as June.  And when it comes to plate, Canada’s […] The post Canadian Steel Buyers Waiting Until T-Shirt Weather for Spot Tons appeared first on Steel Market Update.

It might be T-shirt weather before steel buyers in Canada have access to spot tons of sheet and plate, according to market participants. The three main Canadian sheet suppliers–Algoma, Stelco and ArcelorMittal Dofasco–are largely sold out through May and are in some cases out as far as June.  And when it comes to plate, Canada’s […] The post Canadian Steel Buyers Waiting Until T-Shirt Weather for Spot Tons appeared first on Steel Market Update.

Multiple major North American automakers have or will temporarily halt production because of a semiconductor shortage, something that could have an impact on steel and scrap prices. General Motors will effectively stop production at three assembly plants–one each in the United States, Canada and Mexico–next week because of a semiconductor shortage, the company confirmed. GM […] The post GM, Ford North America Plants Hit by Chip Shortage – Price Impact? appeared first on Steel Market Update.

Multiple major North American automakers have or will temporarily halt production because of a semiconductor shortage, something that could have an impact on steel and scrap prices. General Motors will effectively stop production at three assembly plants–one each in the United States, Canada and Mexico–next week because of a semiconductor shortage, the company confirmed. GM […] The post GM, Ford North America Plants Hit by Chip Shortage – Price Impact? appeared first on Steel Market Update.

Among steelmaking raw materials, the prices of iron ore, pig iron and scrap saw large gains in January compared to months prior, up as much as 86 percent year over year. Coking coal prices, which rebounded compared to recent months, were still down 9 percent in January versus prices one year ago. Zinc prices have declined […] The post Raw Materials Prices: Iron Ore, Coking Coal, Pig Iron, Scrap, Zinc appeared first on Steel Market Update.