Steel Mills

CSI Closes September Flat Rolled Order Book
Written by Michael Cowden
July 1, 2021
You’ll have to wait until the fourth quarter if you’re looking for flat rolled from California Steel Industries (CSI).
The West Coast slab converter announced that it had closed its September order book on Thursday, July 1 – just a week after it opened the month and increased prices by $200 per ton ($10 per cwt).
“We will contact you when we open the flat rolled order book for October,” the company said in a letter to customers.
CSI, approximately 50 miles east of Los Angeles in Fontana, Calif., makes hot-rolled, pickled-and-oiled, cold-rolled and galvanized products as well as welded pipe.
The company’s closure of its September order book dovetails with SMU channel checks indicating that demand remains firm despite prices continuing to set new highs week-over-week following a nearly year-long upcycle.
Case in point: SMU’s benchmark hot-rolled coil price is at $1,770 per ton ($88.50 per cwt), up 9.3% from $1,620 per ton a month ago and more than triple $480 per ton a year ago.
Hot-rolled coil lead times – an advance indicator of which way prices are headed – average 10.5 weeks, little changed from 10.36 weeks a month ago but nearly triple the 3.58 weeks recorded this time last year, according to SMU’s interactive pricing tool.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Mills

Nippon could up investment in USS facilities to $7B: Report
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.

Hybar expansion still on the table as Arkansas mill startup nears
As Hybar nears the completion of its $700-million rebar mill in Arkansas, the company said it is still “actively considering” building other steel facilities in the southern US.

Global steel production edges lower in February
February’s global raw steel output is tied with last December's for the fourth-lowest monthly production rate recorded over the past two years.

Fate of U.S. Steel hangs in the balance
The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.

Cliffs to idle Dearborn blast furnace, restart Cleveland furnace by July
Cleveland-Cliffs has decided to idle the steelmaking operations at its Dearborn Works in Michigan due to weak automotive demand.