strike

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This morning in metals news: workers went on strike at the Bradken plant in Atchison, Kansas, last week; Liberty Steel has asked for a massive government bailout in the UK; and, lastly, the copper price retraced last week.

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Workers go on strike at Bradken plant

Workers at the Bradken steel manufacturing plant in Atchison, Kansas, went on strike last week, local news source KQ2 reported.

According to the report, 50-60 workers walked off the job and onto the picket line last week.

The plant uses electric arc AOD technology and has annual capacity of 36,500 tons, according to the company’s website. The plant produces: locomotive rail and transit components and assemblies; mining, construction, industrial and military castings; and general steel castings.

Liberty Steel asks for bailout

On the heels of its financial crisis after the collapse of Greensill Capital, Liberty Steel is looking to the UK government for a bailout.

The steelmaker is asking for a bailout package of £170 million, the BBC reported.

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US steel imports in February — and through the first two months of the year — are down compared with 2020, the Census Bureau reported.

imports

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US steel imports in February down 22% from previous month

US steel imports reached 1.71 million metric tons in February, according to preliminary data from the Census Bureau.

Imports fell from 2.20 million metric tons in January.

Meanwhile, February 2021 imports were up from the 1.37 million metric tons imported in February 2020.

Furthermore, imports were down over 7% in the year to date compared with the first two months of 2020.

According to the American Iron and Steel Institute (AISI), finished steel import market share reached an estimated 18% in February. Meanwhile, through the first two months of the year, import market share reached 17%.

In addition, after reaching 35% in 2017, steel import penetration fell to 26% by 2019, according to the Economic Policy Institute.

Tin plate, cold rolled sheet imports surge

February saw a surge in imports of tin plate and cold rolled sheets, among other steel products.

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