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According to a Facebook posting at 2pm EDT, the USW and ArcelorMittal have “agreed in principle” and are close to an agreement with “economics similar as USS”. The facebook posting was on the facebook page of USW Local 9231 in New Carlisle IN, which is ‘old Inland Steel’ cold-rolling and coating rolling mills. The posting also referred to cancelling the planned “demonstration” today.

Our View: We trust that the facebook local posting is real and that an agreement will be announced in the next few days.

Impact on Steel Market: We don’t believe this is a negative development for domestic steel prices and equities.

For our full report and further information contact michelle@steelmarketintelligence.com