Union: Severstal seeks buyer for US steel mills

Russia's largest steelmaker Severstal is seeking to sell plants in Maryland, Ohio and West Virginia that it acquired for a total of $2.2 billion in 2008, the United Steelworkers union said Thursday.

The union said it is working with Severstal in hopes of finding a single buyer for the Sparrows Point complex near Baltimore; the former Wheeling-Pitt operations based in Wheeling, W.Va.; and the former WCI Steel mill in Warren, Ohio.

The union said it represents about 6,000 workers at the three properties combined, including about 2,500 at Sparrows Point, 2,200 at Severstal Wheeling and 1,300 at Severstal Warren.

"We are very concerned about keeping those jobs and keeping a certain capacity of steel in this market," said United Steelworkers spokesman Gary Hubbard in Washington.

The trade journal American Metal Magazine reported Thursday that Severstal wants to hear from potential bidders by Friday.

Marika Diamond, a Severstal spokeswoman in Dearborn, Mich., declined to comment on what she called "market rumors and speculation."

Steel industry expert Robert Crandall at the Brookings Institution in Washington said it's no surprise that Severstal wants to sell the plants, which he said are generally old and inefficient except for a large blast furnace at Sparrows Point that, at just more than 30 years old, is among the newest in the United States. read more

U.S. Steel stops paying pension raises

Indexing increases halted until new contract is in place

Steve Arnold

The Hamilton Spectator

ea

(Aug 12, 2010)

U.S. Steel Canada is refusing to pay pension increases to more than 8,000 local retirees.

The pensioners, who spent their working lives in the grime, noise and heat of the former Stelco, were supposed to get a raise Aug. 1 -- but the company cancelled the payments because workers in Hamilton haven't reached a new labour agreement.

In a notice to members, Local 1005 of the United Steelworkers union said the company has cancelled the payments until a new contract is negotiated.

"We did not receive an indexing increase on August 1, 2010 because according to the company, the indexing letter only covers the life of the contract which expired on July 31, 2010," the union said. "They are covering the indexing that we already received (which is also regulated by the Pension Benefits Act), but U.S. Steel says they are not obligated to add additional increases unless it is negotiated in a new contract."

The union argues that under Ontario labour law, an employer is barred from changing working conditions laid out in an expired contract until after a provincial conciliator has failed to bring the sides together.

read more

Labour talks go down to the wire

Contract talks between U.S. Steel and its Hamilton workers are continuing as the clock winds down on the current contract.

The collective agreement expires at midnight Saturday. Pensions remain at the heart of the talks, with the union vowing to resist any company effort to end the current defined benefit pension plan.

While union president Rolf Gerstenberger and company spokesperson Trevor Harris would not comment for this article, information bulletins and other material issued by the union throw some light on the negotiations.

One item by negotiating committee member Tim Blackborow, released by the union last week, said the company is pushing to: change the pension plan to a defined contribution scheme for future employees; eliminate pension indexing; change the $70,000 limit on post-retirement health benefits; and reduce cost of living allowances, vacation and other benefits. read more

U.S. Steel takes a turn for the better

Q2 losses improve, segment with Hamilton operations reports profit

U.S. Steel dramatically narrowed its loss for the second quarter -- and reported a profit for the segment that includes its Hamilton operations.

The Pittsburgh-based company that bought Stelco in 2007 reported a net loss of only $25 million for the quarter, a major improvement from losses of $157 million in the first quarter of 2010 and $392 million in the second quarter of 2009.

The good news hidden in the numbers was a quarterly profit of $98 million in the flat rolled steel segment, the part of the business that includes the former Stelco plants in Hamilton and Nanticoke. That was a healthy turnaround from losses of $80 million in the first quarter of 2010 and $362 million in the second quarter of 2009.

The company also posted a profit on operations of $198 million, but that was wiped out by currency translation losses and tax accounting.

"We posted strong operating results ... but unfortunately not all of that impact got to the bottom line," chairman and CEO John Surma told an afternoon conference call with industry analysts. "We are in the middle of a choppy recovery that is going to take some time."

Surma credited the $170-million turnaround in the flat rolled segment to higher prices, higher production and lower energy costs. read more

Ottawa's prosecution of U.S. Steel remains in limbo as judge reserves ruling

OTTAWA - The federal government's first prosecution of a foreign multinational under the Investment Canada Act remained in limbo Wednesday after a judge reserved her decision on whether Ottawa's move is legal.

Lawyers for the government and workers at U.S. Steel's Canadian operations had hoped for a same day ruling that would have cleared up whether Ottawa can go ahead and sue the steel company for failing to live up to its promises on Canadian jobs and output.

The United Steelworkers lawyer argued that speed is important in the case because employee and production levels remain well below what U.S. Steel agreed to when it got Investment Canada approval to buy the former Stelco Inc. for more than $1 billion three years ago.

But Federal Court of Appeals justice Justice Carolyn Layden-Stevenson rose from the court after arguments with regrets that she could not render a decision "at 3 p.m."

There was no estimate on when she will decide whether the government's lawsuit can proceed.

Delay and dispute about the constitutionality of Ottawa's suit against the U.S. steelmaker have been the hallmark of the unique case since last July, when Industry Minister Tony Clement announced he was taking the industrial giant to court.

It was the first time a foreign company has been taken to court for breaching the conditions under the Investment Canada Act, and legal experts believe the case could eventually wind up before the Supreme Court  read more

ThyssenKrupp plant plans to start production this month

CALVERT, Ala. -- Barge dock unloading steel slabs -- check. Slab storage yard working -- check. Cooling system flushed -- check. Power hooked up to machines -- check. Pilot lights in slab furnace lit -- check.
Roll maintenance shop ready to go -- check. The carbon steel unit at ThyssenKrupp's plant is running through final preparations at its hot strip mill, with the goal of feeding the first steel slabs into the furnace in the last week of July.

It will be the first major part of the $5 billion complex on the Mobile-Washington county line to begin operation, as Germany's largest steelmaker works to expand sales in North America.

Workers are putting the finishing touches on the hot strip mill, which will heat up raw slabs and squeeze them through rollers to make thin coils of steel. Before commercial production can start, though, the machinery has to be put through its paces and workers have to get comfortable with their jobs. read full story

Steel remains backbone of Canadian manufacturing

Despite fears of a potential "earthquake" impact to primary steel producers, such as Essar Steel Algoma, as a result of new billing procedures by essential raw material suppliers, the future is not all doom-and-gloom for the Canadian steel sector.

Peter Warrian, author of a recently-released extensive 47-page report on the state of the Canadian steel industry, told a sparse Sault Ste. Marie audience Thursday that "steel remains the backbone of advanced manufacturing in this country ... the industry was critical to Canada in the past read full story

Steel pensions hard-fought

Talk of drastic change stalls contract

Steve Arnold

The Hamilton Spectator

(Jul 9, 2010)

Hamilton steelworkers have moved to the front line of a battle to protect their dream of a decent retirement.

For almost two months negotiators for U.S. Steel and Local 1005 of the United Steelworkers have been wrestling over terms of a new collective agreement to replace a contract that expires midnight July 31.

At the heart of the talks - mirroring a confrontation already fought out during an eight-month lockout at the company's Lake Erie Works in Nanticoke - is U.S. Steel's demand for drastic changes in its pension plans.

The chief issue is the company's urgent demand to change the existing defined benefit pension plan to a defined contribution system. The first pays a set pension based on years of service, while the second pays according to how much has been contributed over the years.

Employers dislike defined benefit plans because ensuring they have enough money to meet all current and future obligations can place heavy demands on a company's cash flow. Workers dislike the defined contribution model because it leaves their retirement income to the mercy of the investment markets. read full story

Should the US Government Allow a Chinese Steel Mill to Invest in Steel Technology They Don’t Have?

For those of you in the steel industry (or who watch the steel industry closely), a story has been brewing for a couple of months that we believe will have far-reaching implications for America’s steel industry.  According to earlier press announcements, Anshan Iron & Steel Group, China’s fourth largest steel producer, has made a 15-20% investment in Steel Development Corp to build a rebar plant in Armory, Mississippi. Steel Development Corp is a private company backed by private equity will open a 300,000 ton steel rebar facility this year. The company has a world-class management team headed by former Nucor CEO John Correnti. And this is partially what makes this investment by Anshan so intriguing. [Ed. Note According to a May 24 AMM post, the investment will also go toward building four re-bar plants (not one) and one flat rolled product mini-mill, all based in the US)

The plant will sell its products through Japanese trading firm Marubeni as well as Anshan throughout the southeastern United States, according to a Bloomberg report. You’d think that this might be the end of the story, but it’s not. Dive under the surface a bit, and the investment by Anshan raises serious concerns not only among steel producers but also for any US manufacturing organization in general. The Chinese investment has also reached the highest levels of the US government, going all the way to US Treasury Secretary Tim Geithner. Why, you may ask? Because the US Congressional Steel Caucus has asked the Treasury Secretary to block the investment on economic and national security grounds. The concern, according to one news report, “The bipartisan group [Ed. Note: The Congressional Steel Caucus] said they were worried Anshan could gain ‘access to new steel production technologies and information regarding American national security infrastructure projects’ through the investment.” read full story

U.S. Steel, Ottawa legal battle could last years

— United States Steel Corp. (NYSE:X) will challenge a Federal Court decision to uphold the Investment Canada Act, the latest in an already year-long feud with Ottawa.

The Pittsburgh-based steel giant said Tuesday it has filed a notice of appeal of the ruling that allows the federal government to proceed with a lawsuit against the company.

Legal experts say the battle could draw out for years, as U.S. Steel can still appeal to the Supreme Court if it loses its appeal at the Federal Court of Appeal, a proceeding that alone could drag into next year.

Ottawa has argued the company's shutdown of steel mills in Hamilton and Nanticoke, Ont., during the 2008-2009 recession broke employment and production promises made when the U.S. steel producer bought the former Stelco Inc. in 2007.

If the steelmaker is found to have illegally broken promises it made to Ottawa when it bought Stelco for more than $1 billion, it could face a multimillion-dollar fine or be forced to sell its Canadian assets.

Lynn Meahan, spokeswoman for Industry Minister Tony Clement, said the ministry was disappointed that U.S. Steel has appealed the decision. read full story

U.S. Steel appeals court ruling in Stelco case

Case against firm accused of breaking promises to Ottawa a signal to foreign investors, lawyers say

U.S. Steel (X-NYSE ) accused of breaking its promises to maintain jobs when it bought Hamilton-based Stelco Inc. in 2007, is ratcheting up its legal fight with Ottawa, filing an appeal after a judge tossed out the company’s challenge of the Investment Canada Act.

Pittsburgh-based U.S. Steel is challenging a June 14 Federal Court ruling that upheld the powers of the federal government to go after foreign companies accused of failing to live up to promises made in order to win government approval for a takeover of a Canadian firm. read full story

Sparrows Point to idle portion of steel plant, lay off workers

About 600 employees work in areas to be affected

Several hundred workers at the Sparrows Point steel mill are in danger of temporarily losing their jobs as the plant prepares to shut down for 30 days because of low demand.

The primary steelmaking facilities at the Baltimore County plant — three main divisions at the sprawling facility — will be shut down by July 1, company spokeswoman Elizabeth Kovach confirmed Friday. Union leaders had notified workers of the temporary layoffs and planned shutdown on Thursday.

About 600 people work in the parts of the plant to be affected, but Kovach said it is unclear the number of workers who will be out of a job. "How many people will go on layoffs versus doing other work in the plant has not been determined," Kovach said. read full story

Coke substitute facility pitched for Gary

Jun 04, 2010 (The Times - McClatchy-Tribune Information Services via COMTEX) --

United States Steel Corp. hopes to build a facility in Gary that could produce a carbon alloy material that is used as a substitute for an important element of the steelmaking process.

The Pittsburgh-based steelmaker is seeking to build modules that would generate up to 1 million tons of a semi-crystalline carbon material instead of coke.

An application sent to the Indiana Department of Environmental Management said the synthesis plant pitched at Gary Works would be the first large-scale commercial application of a continuous alternative coke-making process in the country. Carbonyx Carbon Technologies

IDEM has finalized two draft air permits from U.S. Steel's application, spokesman Rob Elstro said. If approved, the "construction" permit would be in effect while the facility is being built and then an "operating" permit would go into effect permanently, he said.

The public comment period on the permits is expected to start Monday. Elstro said the agency received an air permit application from the company Jan. 4.

Gary Pollard, a spokesman for Carbonyx, couldn't provide comment on the development Thursday. U.S. Steel spokeswoman Courtney Boone confirmed submission of the permit application.

The four, 250,000-ton-capacity production modules are expected to be built in phases, and the permit application said construction on the first phase should start on or before Sept. 30. The first two modules are expected to begin operating in November 2011. The modules would sit near the existing sinter plant and coal-handling facilities.

The product developed bears the trademark name of Cokonyx and is created from blended thermal and anthracite coals. About 375,000 tons of coal per year would be used to produce the coke substitute.

Metallurgical, or coking, coal prices have been three or four times higher than thermal coal prices, said Joseph Innace, chief editor for steel at Platts, energy and metals information provider of the McGraw-Hill Cos.

"So a technology that uses thermal coal -- should such a lower price trend continue compared to met coal -- would provide a cost advantage," Innace said via e-mail.

The company said in February it could supply about 80 percent of its annual coke requirements at normal operating levels. The company also said building the facility could help reduce its reliance on coke from external sources. In the application, U.S. Steel says excess product could be sold on the open market.

Officials at U.S. Steel believe the technology also can help reduce the amount of harmful emissions from its complex and help save energy. Estimates shown in the permit application said the alternative processing of the coke substitute would reduce emissions by 3,005 tons of carbon monoxide, 907 tons of nitrogen oxides and 706 tons of volatile organic compounds each year.

The emissions improvements are contingent on keeping the No. 3 coke battery shut down and planning shutdowns of the No. 5 and No. 7 coke batteries once the third and fourth modules are built. Coke batteries are sets of ovens that heat and process coal into coke.

Elstro said the public notice period for permits lasts 30 days before they can be approved. If approved, the construction permit goes into effect immediately and the operating permit is subject to a review by the U.S. Environmental Protection Agency Region 5 for up to 45 days.

But even if the permits are received, the project is not a done deal. The project continuing is contingent on business conditions and U.S. Steel board approval.

U.S. Steel sought to construct a similar but smaller facility to supply the coke substitute for its Fairfield Works complex in Alabama in 2008, according to Platts. The 250,000-ton capacity carbon alloy synthesis facility and a cogeneration facility was indefinitely delayed in November 2008 because of business conditions and has not been restarted.

U.S. Steel ruling delayed for translation

The Hamilton Spectator

(Jun 1, 2010)

The judge hearing a federal government lawsuit against U.S. Steel has made her decision.

The document, however, will be kept under wraps for up to two more weeks while it is translated from French.

The suit, alleging the Pittsburgh-based steelmaker broke promises it made about maintaining jobs and production when it was allowed to buy the former Stelco, has been hung up since January waiting for Justice Dolores Hansen to rule on a company challenge to the Investment Canada Act, the legislation under which the government is suing. read full story

Steel revival heating up?

Report suggests global demand expected to rebound as world emerges from recession

The Canadian Press

OTTAWA (Jun 1, 2010)

The report, prepared by University of Toronto senior research fellow Peter Warrian, found steel prices have fallen by about 15 to 20 per cent from their peak in 2008. Meanwhile, a decline in capacity utilization since the recession hit has reduced employment in the industry by 25 per cent.

But the report indicates global steel demand is expected to rebound in 2010, and grow by 6 to 7 per cent per year in 2011 and 2012. read full story

World Steel Production Climbs in April

In April, global crude steel production rose by 2 million metric tons over March and increased more than 30 percent over the prior-year level, according to the World Steel Association. However, concerns are also rising over increased pricing pressure from iron ore manufacturers.

Global production of crude steel increased 35.7 percent year-over-year in April, while capacity utilization rates among steel manufacturers climbed to 83.4 percent last month, according to the World Steel Association (worldsteel) today. Total steel production for the 66 countries tracked by worldsteel increased to 122 million metric tons in April, up from 120 million metric tons in March and significantly higher than the roughly 90 million tons produced in April 2009.

Following a 30.6 percent year-over-year increase in March, steel output continues to make steady gains, with production rates in April climbing in every major steel-producing region that reports to worldsteel. read more

Labour board ruling on fired strikers coming next week

After a full day of arguments Friday from Vale Inco and striking United Steelworkers' union, the province's labour board is set to rule next week on the union's request for the board to hold an immediate hearing on the issue of nine union members fired during the 10-month strike at the company's Sudbury operations.

The union wants the board to hold an expedited hearing on the firing of the nine and the company's assertion it will definitely not be rehiring them when the labour dispute is settled. read more

Material costs haunt steel firms

As the steel industry moves through early stages of recovery, raw material costs will be an important factor in its return to profitability, U.S. Steel Corp. CEO John P. Surma said Tuesday.

Seventy percent of the cost of production is tied up in raw materials and energy costs, and suppliers of iron ore have enjoyed "significant pricing power" for years, and their power is increasing, Surma told 1,250 attendees at the Association for Iron & Steel Technology's annual conference at the David L. Lawrence Convention Center, Downtown.

Surma, yesterday's keynote speaker, said the three largest iron ore mining companies control about 70 percent of the international market. Iron ore, along with coking coal, is necessary for producing steel in blast furnaces used by steelmakers such as U.S. Steel. read more

U.S. Steel selling two Hamilton mills

German company buying properties

John Burman
U.S. Steel Canada Inc. will sell its Hamilton Works No. 1 bar mill and No. 3 bloom and billet mill to Max Aicher (North America) Inc., a wholly owned subsidiary of its German parent.

The company announced mid morning the transaction is subject to government approvals and other conditions.

U.S. Steel did not disclose the price Max Aicher will pay.

The company said in a statement the rest of U.S. Steel’s Hamilton operations will not be affected by the sale.

“This transaction allows U. S. Steel Canada to put continued emphasis and focus on our core operations, further strengthening our position as a leading producer of value-added flat-roll products at our facilities in Hamilton and Nanticoke,” the company said in a statement

Lakeside Steel charges CAW with 'unlawful strike'

WELLAND — Lakeside Steel has suspended several workers and filed charges against Canadian Auto Workers Union Local 523 alleging the union was conducting an unlawful strike. It has resulted in a "powder keg" mood at the Welland steel mill, a worker from the plant informed The Tribune via e-mail. Union representatives were at an Ontario Labour Relations Board hearing in Toronto at 1 p.m., Wednesday, defending the union against the company's allegations.  read full story

AK Steel posts profit, looks for sales to increase

WEST CHESTER TWP. — AK Steel Corp. moved soundly back into the black for the first quarter of 2010, but its forecast for rising raw-materials costs concerned some investors during its earnings report on Tuesday, April 20.

The company posted a first-quarter net income of $1.9 million, or 2 cents per share, compared to a net loss of $73.4 million, or a loss of 67 cents per share, in the first quarter 2009. Net sales grew to $1.4 billion from $922.2 million over the same period a year ago. However, AK officials said the average selling price fell 14 percent from a year ago, but was up 5 percent from the fourth quarter 2009.

read full story

U.S. Steel considering $650 million expansion in Ohio

CLEVELAND, Ohio -- U.S. Steel Corp. is considering investing $650 million in northern Ohio, Gov. Ted Strickland said today.

Company spokeswoman Erin DiPietro confirmed that the company is considering expanding its Lorain steel tubing plant and adding a new steel coating line to its Pro-Tec Coating joint venture in Leipsic, near Findlay in northwestern Ohio. read full story

Turkey, deer and coyote replace the steelworker

Coffee ran out early as over 1,000 braved a raw east wind last week to rally at plant gate Lake Erie Works.

It has now been over a year since events precipitated the idling of North America's most productive integrated steel mill.

As we know, U.S. Steel Corporation, the largest steelmaker in the United States, took over Nanticoke's Lake Erie Works when it acquired Stelco Inc. in 2007 at a price of $1.2 billion. This was Canada's last domestically-owned steel mill – Dofasco, Algoma and Stelco have all been bought out by foreign companies. read more

U.S. Steel workers picket idle Nanticoke plant

Laid off and locked out workers from U.S. Steel Lake Erie Works have set up a secondary picket line less than a kilometre from their idle Nanticoke plant.

United Steelworkers Local 8782 union officials say steel slabs manufactured at U.S. Steel in Hamilton are trucked more than 1,000 kilometres to plants in the States to be rolled into coils when the idle plant could be processing the slabs, keeping the work in Canada. read full story

Mill CEOs Confirm US Blast Furnace Restarts

Almost 5m short tons of idled US steelmaking capacity is nearly back in operation. The restart of blast furnaces at US Steel's Gary Works and Severstal's Warren plant are in the final stages, according to the CEOs of both companies.
Speaking on a mill executives panel Friday at Steel Business Briefing's Steel Markets North America 2010 conference in Chicago, USS CEO John Surma said Gary's No 14 BF - its largest and most efficient furnace, with 3.3m s.t of annual capacity - will be back in operation by the end of the month.
SBB has learned his timetable is likely conservative, as No 14, which has been idled for maintenance since late year, could actually be restarted as early as this week.
Severstal NA CEO Sergei Kuznetsov also said during the panel his company's Warren, Ohio BF will restart today. Kuznetsov said previously that the BF, with roughly 1.3m s.t of annual capacity, should be running at 80-85% of capacity by next month. It's essentially been on cold-idle since October 2008.
Kuznetsov said it's unclear when Severstal Wheeling's 3.1m tonnes/year of hotrolled capacity might be back onstream.
"We're just waiting to see if there's enough improvement in demand whether to bring that facility up," he said.

AK Steel and U.S. Steel: Something Is in the Works

US Steel (X) to buy AK Steel (AKS)? Maybe, maybe not. But there was a good amount of speculation surrounding the spike in shares and general activity Thursday.

AK Steel (AKS) rode higher as rumors were being passed around that there were possible suitors. U.S. Steel (X) was the name that most news sources focused on, and that was confirmed by the obvious divergence of returns during the day. read more

US Steel May Consider 'Acquisition Opportunities'
March 1, 2010
Steel Business Briefing

US Steel says it will continue to "assess North American and international expansion and divestment opportunities" in 2010, according to a recent filing with the US Securities and Exchange Commission.

"We may consider 100% acquisition opportunities, joint ventures and other arrangements," the company said in the filing, seen by Steel Business Briefing.

The Pittsburgh-based steelmaker also said in the document that flatrolled results for the current quarter "are expected to improve from fourth quarter 2009." It did not say by how much, however.

"Average realized prices are expected to increase from fourth quarter 2009, as we expect to begin realizing the impact of increasing spot market prices later in the first quarter," the company said. "We are currently making steel at six of our seven North American steelmaking locations, with the exception being our Lake Erie Works, which represents approximately 10% of our annual flatrolled raw steel capability.

"We expect to complete maintenance work on our largest blast furnace, the No 14 blast furnace at Gary Works, late in the first quarter and have all available capacity in operation at these six locations before the end of the quarter."

USS added that overall Q1 raw steel capability utilization rates are expected to increase from Q4, as well.

Vale sues striking union, alleging ‘unlawful thuggery'

Striking union members in Sudbury have engaged in “unlawful thuggery” by threatening personnel during a bitter seven-month strike at Vale Inco, the company alleges in a lawsuit.

United Steelworkers Local 6500 and some of its members have posted personal information about people who are continuing to work during the strike, which has led to intimidation, threats and an assault, the mining giant alleges in its more than $1-million lawsuit.

“This has not been a peaceful strike,” the company writes in a statement of claim, filed in Superior Court in Sudbury.

“Masked picketers have engaged in criminal conduct, including an assault of a Vale Inco employee and the sabotage of Vale Inco property.” read more

U.S. Steel workers contribute cash to pension fight

Steve Arnold

The Hamilton Spectator

(Feb 18, 2010)

Teessiders come together to mourn end of an industry

Corus Steel was purchased by Tata Steel for 12 billion dollars US in 2007.

MORE than a century and a half of the industry on which Teesside was built came to an end as the last litres of molten metal trickled out of Corus’s blast furnace at Redcar.

February 19, 2010, is a date that will forever be etched on to Teesside’s collective conscience.

On a freezing cold, bleak Friday, a flood of supporters and well-wishers united at the gates of Corus to show dignified support and reflect on the mothballing of the last of 100 blast furnaces which once lined the Tees. read full story

Strike ballot as Corus steel plant shuts down

Thousands of steel workers will be balloted for strike action in protest at today's temporary closure of the Corus steelworks on Teesside.

The GMB union announced that members at the company will vote in the next few weeks on whether to launch a campaign of industrial action.

The union’s executive decided to press ahead with the ballot on the day that the plant was temporarily closed down with the loss of up to 1,600 jobs.

Keith Hazlewood, national officer of the GMB, accused Corus of going back on a promise to delay the closure of the plant. read full story

Origin of the Investment Canada Act Is Found
in Neo-Liberal Nation-Wrecking

US Steel VS The Attorney General

Are the destructive actions of U.S. Steel, Vale, Xstrata, West Fraser Timber and AbitibiBowater criminal or merely debatable "non-compliance with regulations"?

Canadians are still waiting for the initial ruling in the federal government's lawsuit against U.S. Steel. The U.S. monopoly is accused of violating the contract it signed in 2007 under the authority of the Investment Canada Act (ICA), when it took control of the Canadian steel company Stelco.

U.S. Steel's violation of the employment and production commitments contained in the contract is not in dispute. U.S. Steel insists it has the right to ignore the contract because of changed economic conditions, which it says the company cannot control. The monopoly further contends that even though it signed the ICA contract at the time of the Stelco takeover, it has no respect for the law itself and considers foreign companies should have the right to ignore it because the law violates their monopoly right. read full story

Corus steel workers braced for mass redundancies

National unemployment figures may have shown signs of improvement, but one community on Teesside is braced for mass redundancies as 170 years of steel making comes to an end.

It is a cold morning on Teesside and hot steam from the Corus blast furnace is filling the air. This eerie spectacle has been a familiar sight in this part of Redcar for 30 years, but in a few days' time, you may never see it again.

The steel-making part of the company is due to be mothballed and 1,600 people are now looking for work. read full story

U.S. Steel workers contribute cash to pension fight

The Hamilton Spectator
(Feb 18, 2010)

Hamilton steelworkers dug deep yesterday, raising more than $7,000 to help fellow steelworkers fight to protect their pension plan.

It's a battle the Hamilton workers know they'll be facing by the end of the summer.

Yesterday's special collection at the gates of U.S. Steel's Hamilton plant was to help 1,000 workers at the company's Lake Erie Works in Nanticoke. They've been locked out since August after refusing a demand to turn their defined benefit (DB) pension plan into a defined contribution (DC) model. read full story

Local steelworkers take collection for Nanticoke

February 16, 2010

The Hamilton Spectator
(Feb 16, 2010)

Hamilton steelworkers will be asked to put their money where their hearts are tomorrow morning in a special plant-gate collection for locked-out friends in Nanticoke.

The special collection at the gates of the U.S. Steel Canada plant in Hamilton will raise money to help workers locked out of their jobs at the company's Lake Erie Works since Aug. 3, 2009.

Rolf Gerstenberger, president of United Steelworkers Local 1005, said the collection is intended to show support for the Nanticoke workers. They were locked out when their collective agreement expired and they rejected a package of concessions. read full story

ArcelorMittal forecasts slow steel recovery

ArcelorMittal (MT-N36.66-2.80-7.10%) , the world's top steelmaker, said its markets would improve only slowly with higher shipments, as lower prices in early 2010 and its profit forecast fell short of market expectations.

The company said on Wednesday that the industry, a barometer of global economic strength, would see increased demand from key customers such as carmakers and that price rises should have more of an impact in the second quarter.

“The recovery is under way, but is slow and progressive,” chief financial officer Aditya Mittal told a conference call, predicting global demand would rise 10 per cent this year. read full story

Don't Celebrate this deal

Canada has given up to much and received too little in its negotiations over buy American.

read full story

U.S. Steel Bringing Back Laid Off Workers

GRANITE CITY, IL (FOX2now.com) - While news about jobs and the economy continues to be mixed in Granite City one major industry is making a comeback. In just a few short months U.S. Steel's Granite City works has climbed from the valley floor to the mountain top. Employees have been slowly coming back to work since June. Now, everyone's back at work. Some were so new when the layoffs began that they are spending the new few weeks re-learning how things work.

The company is even hiring new people to replace those who retired or took other jobs during the shutdown.

"That was the first time that this place had been fully idled in 135 year history here and for me to stand here today and tell you that everybody is back at work and we are in a hiring situation. I am completely set back and wow would be the factor in there." said Jason Chism the USW Local 50 President. read full story

WRECKING OF STELCO BY US STEEL

read more

CONTRACT WORKERS & CONTRACTING OUT

read more

Fitch cuts US Steel to junk as profit still elusive

NEW YORK, Jan 27 (Reuters) - Fitch Ratings on Wednesday cut its ratings on U.S. Steel Corp (X.N) into junk territory, saying it's unclear when the company will return to profitability.

Stocks |  Bonds |  Global Markets

U.S. Steel on Tuesday posted a fourth consecutive quarterly loss and said it expects another loss for the current quarter, saying gradually improving business conditions have not yet been reflected in operating results. For more see [ID:nN26229611].

Fitch cut the company's issuer default ratings and senior unsecured debt one notch to BB-plus, one step below investment grade. The outlook is stable, indicating an additional rating change is not anticipated over the next 12 to 18 months. read full story

Fraser confirmed as director

USW ratifies disputed District 6 re-election over city's DePaulo

January 27, 2010

Meredith Macleod

The Hamilton Spectator

(Jan 27, 2010)

A winner has finally been declared in a protracted and heated election of a leader in the United Steelworkers union.

Wayne Fraser will be confirmed as the re-elected director of District 6, which covers Ontario and the Atlantic provinces.

"I'm tickled pink about that," said Sudbury native Fraser, who represents U.S. Steel workers from Hamilton-Nanticoke .read full story

U.S. Steel reports '09 loss of $1.4 billion

Net profit of $2.1b in 2008

Steve Arnold
The Hamilton Spectator
(Jan 27, 2010)

Losses continue to mount at U. S. Steel, although the pace of the bleeding is slowing.

The Pittsburgh-based company, owner of the former Stelco mills in Hamilton and Nanticoke, reported yesterday more than $1.4 billion in losses for 2009. That's a sharp turnaround from a net profit of more than $2.1 billion in 2008. read full story

Reports suggest upswing in local steel

January 24, 2010

BY KAREN CAFFARINI, POST-TRIBUNE CORRESPONDENT

Local mills are beginning to call back some employees as the U.S. steel industry begins to steadily rebound from what has been called its worst year since the end of World War II.

"2010 will be better," predicted Tom Hargrove, president of United Steelworkers Local 1010 in East Chicago, although he said it is too early to make a call on just how much better.

Steel analysts and industry insiders also are upbeat about the American steel industry this year, which they expect to benefit from an improving auto market, road and bridge construction under the stimulus package and the move toward alternative energy.....read more

Angry Steelworkers blockade Lake Erie Works

Open after agreement with U.S. Steel

January 19, 2010

http://www.thespec.com/News/Business/article/707592

U.S. Steel, guilty of good business

The company says the Investment Canada Act is ‘invalid.’ The act’s economics aren’t much to write home about, either

http://network.nationalpost.com/np/blogs/fpcomment/archive/2010/01/15/peter-foster-u-s-steel-guilty-of-good-business.aspx

Steel stands to benefit from wind power deal

Samsung Group will buy up to 250,000 tons from Ontario's steelmakers to build wind farms across the province.

A consortium including Samsung and state-owned Korea Electric Power Corp. is investing $7 billion to build the wind and solar clusters expected to generate 2,500 megawatts of power. About 2,000 megawatts of that will come from wind turbines, hulking structures made almost entirely from steel. read full story

Hamilton steelworkers dug deep yesterday, raising more than $7,000 to help fellow steelworkers fight to protect their pension plan.

It's a battle the Hamilton workers know they'll be facing by the end of the summer.

Yesterday's special collection at the gates of U.S. Steel's Hamilton plant was to help 1,000 workers at the company's Lake Erie Works in Nanticoke. They've been locked out since August after refusing a demand to turn their defined benefit (DB) pension plan into a defined contribution (DC) model. read full story