Stephanie Ritenbaugh

Pittsburgh

Scrap Reporter at CRU

Business reporter for @TribLIVE | Formerly @PittsburghPG, @Platts, and other places. Be excellent to each other.

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Articles

SMU survey finds less support for tariff policies

1 week ago | steelmarketupdate.com | Stephanie Ritenbaugh

Still, some folks – about 13% – believe that trade will work out better in the future once the dust settles. But that’s down from 19% in our last survey. Here are responses to the question: Are President Trump’s tariff policies helping your business? Why or why not?
New York state manufacturing index drops again in April

1 week ago | steelmarketupdate.com | Stephanie Ritenbaugh

The survey found new orders fell modestly, and shipments edged lower. Delivery times held steady, and supply availability worsened. Inventories continued to expand. And employment was little changed, while the average work week moved lower. “Input and selling price increases picked up to the fastest pace in more than two years. Firms turned pessimistic about the outlook for the first time since 2022,” said Richard Deitz, economic research adviser at the New York Fed.
GM names Worthington a 2024 Supplier of the Year

1 week ago | steelmarketupdate.com | Stephanie Ritenbaugh

“We’re honored to be recognized once again by General Motors for the quality and commitment we bring to our work every day,” said Geoff Gilmore, Worthington Steel president and CEO. “This award is a direct reflection of our incredible team, whose passion and dedication drive everything we do,”he added.
SMU Week In Review: April 7 - 11

1 week ago | steelmarketupdate.com | Stephanie Ritenbaugh

The move came after President Trump on Monday ordered the Committee on Foreign Investment in the United States (CFIUS) to conduct a new review of the US Steel-Nippon Steel deal. But, the review doesn’t mean a sale is in the bag. Trump said he is still against selling USS to a Japanese company. US ferrous scrap prices declined in April for all the grades tracked by SMU amid tariff uncertainty.
Reports: Federal funding for Cliffs' project could be slashed

2 weeks ago | steelmarketupdate.com | Stephanie Ritenbaugh

But that funding could be slashed as Elon Musk’s Department of Government Efficiency (DOGE) determines which grants to advance and which ones to terminate, according to several media outlets, including CNN and the Cincinnati Enquirer.
Great Lakes iron ore trade fell again in March

2 weeks ago | steelmarketupdate.com | Stephanie Ritenbaugh

Shipments of iron ore on the Great Lakes tumbled 39.1% to slightly under 1 million short tons (st) in March compared to a year ago, according to the Lake Carriers’ Association (LCA). Loadings were also below the month’s five-year average by 19.4%. Recall that shipments also saw a sharp decline in January. Year to date, the iron ore trade stands at nearly 3 million short tons (st), a decline of 31.9% compared to a year ago.
Algoma looks to sell more steel in Canada in wake of Trump's tariffs

2 weeks ago | steelmarketupdate.com | Stephanie Ritenbaugh

Garcia spoke to SMU’s David Schollaert during a monthly Community Chat on Wednesday (A replay is available.)“I can say, ‘I’m going to increase my price that I give you by 25%, because I’m paying a tariff.’ But you’re going to look at my price and say ‘Oh, I can get it from Algoma for $900 plus 25%, or I can get it from this (US) supplier for $900.’ If I do that, I’m going to lose out on every order,” Garcia said.
Construction adds 13,000 jobs in March

2 weeks ago | steelmarketupdate.com | Stephanie Ritenbaugh

Associated Builders and Contractors, a trade group, said the year’s growth is the slowest in four years. The construction unemployment rate decreased to 5.4% in March, flat compared to a year ago. Overall, the unemployment across all industries ticked up slightly month over month to 4.2% in March, according to the BLS. “At first glance, this is a perfectly fine jobs report for the construction industry,” Anirban Basu, chief economist for ABC, said in a statement.
Supply chains, end-users brace for impact from tariffs

2 weeks ago | steelmarketupdate.com | Stephanie Ritenbaugh

The import taxes, ranging from 10% to 49%, have sent stocks plummeting this week and prompted countries like China and France to threaten retaliatory measures while other countries hope to negotiate a way through. So, even though the tariffs are on the table, there’s no guarantee that things still can’t change, again. “There’s this reluctance to plan for circumstances that are seen as still being somewhat fluid,” Derry said.
Nucor's Utermark to retire in June

3 weeks ago | steelmarketupdate.com | Stephanie Ritenbaugh

He has worked in various positions and businesses, including as hot mill manager at Nucor Steel Arkansas; roll mill manager at Nucor Steel Texas; vice president and general manager of Nucor Steel Texas; and vice president and general manager of Nucor-Yamato Steel Co. Utermark was promoted to executive vice president in 2014.