The record steel rally is starting to show early signs of cooling, with one top U.S. producer scouring for buyers to take over abandoned orders of high-end metal used by automakers.
November 2, 2021Steel
Business, Equipment, Logistics
U.S. Steel plant in Gary, Ind. (John Smierciak/Chicago Tribune)
Sinking Auto Steel Demand Reveals Cracks in Robust US Market
U.S. Steel plant in Gary, Ind. (John Smierciak/Chicago Tribune)
Business, Logistics
North American Stainless plant in Ghent, Ky. (North American Stainless/YouTube)
Top Stainless Steel Maker Roiled by Supply Chain Woes
North American Stainless plant in Ghent, Ky. (North American Stainless/YouTube)
In another sign of how supply chains are being snarled all over the world, a leading U.S. maker of stainless steel was forced to declare force majeure at its Kentucky mill because it can’t get enough of the industrial gases it needs.
July 12, 2021
Government, Business, Logistics
A finished steel coil is lifted and moved at the NLMK Pennsylvania plant in Farrell, Pa.
EU, US Reach Truce on Metal Tariffs Ahead of Biden Visit
A finished steel coil is lifted and moved at the NLMK Pennsylvania plant in Farrell, Pa.
The European Union agreed to avoid escalating its dispute with the U.S. over metal tariffs, sparing iconic products such as bourbon whiskey and Harley-Davidson motorbikes from a doubling of EU duties next month.
May 17, 2021
Government, Business, Logistics
Steel coils sit in a storage area at the Salzgitter AG steel plant in Germany. (Krisztian Bocsi/Bloomberg News)
Supreme Court Rejects Challenge to Trump’s 25% Steel Tariffs
Steel coils sit in a storage area at the Salzgitter AG steel plant in Germany. (Krisztian Bocsi/Bloomberg News)
The U.S. Supreme Court left intact President Donald Trump’s 25% tariffs on imported steel products, rejecting an industry trade group challenge that sought to strip the president of a powerful legal tool for imposing duties.
June 22, 2020
Business
Steel coils sit outside at the U.S. Steel Granite City Works facility in Granite City, Ill. (Daniel Acker/Bloomberg News)
U.S. Steel Foreshadows Blue-Collar Pain With 2,700 Layoffs
Steel coils sit outside at the U.S. Steel Granite City Works facility in Granite City, Ill. (Daniel Acker/Bloomberg News)
U.S. Steel Corp. expects to lay off about 2,700 employees as the virus forces the company to idle most of its blast furnaces.
May 1, 2020
Government, Business, Equipment
Sparks fly from a blast furnace at steel plant in Duisburg, Germany. Krisztian Bocsi/Bloomberg
Appeals Court Upholds Trump’s 25% Steel Import Tariffs
Sparks fly from a blast furnace at steel plant in Duisburg, Germany. Krisztian Bocsi/Bloomberg
President Donald Trump acted within his authority when he imposed a 25% tariff on certain steel imports effective March 2018, a U.S. appeals court ruled Feb. 28.
February 28, 2020
Business
A steel stock yard on the outskirts of Shanghai, China, in July 2018. (Qilai Shen/Bloomberg News)
Top Steelmaker Sounds Alarm as Coronavirus Spreads
A steel stock yard on the outskirts of Shanghai, China, in July 2018. (Qilai Shen/Bloomberg News)
The most influential mills group in the world’s largest steelmaker has sounded the alarm about the outlook as the coronavirus crisis rips through China’s economy, warning of transport snarls, weaker demand and a situation this quarter that “does not look optimistic.”
February 6, 2020
Government, Business
Rolls of steel weighing as much as 20 tons each await shipment at the Nucor Corp. plant in Ghent, Ky., in 2018. (Timothy D. Easley/Associated Press)
US Steelmaker Nucor Corp. Raises Prices for Fifth Time in Two Months
Rolls of steel weighing as much as 20 tons each await shipment at the Nucor Corp. plant in Ghent, Ky., in 2018. (Timothy D. Easley/Associated Press)
Nucor Corp., the largest U.S. steelmaker, raised prices for a fifth time since late October, adding to signs of a rebound in the industry.
January 8, 2020
Business
Paul Sancya/AP
US Steel to Eliminate 1,545 Michigan Jobs
Paul Sancya/AP
U.S. Steel Corp. warned of a fourth-quarter loss, announced it would shut down most of its Great Lakes Works near Detroit, lay off more than 1,500 workers and slash its dividend.
December 20, 2019
Government, Business
Martin Divisek/Bloomberg News
Trump Says He’ll Place Tariffs on Steel, Aluminum From Argentina, Brazil
Martin Divisek/Bloomberg News
WASHINGTON — President Donald Trump on Dec. 2 accused Argentina and Brazil of hurting American farmers through currency manipulation and said he’ll slap tariffs on their steel and aluminum imports to retaliate.
December 2, 2019