Market Segment
August 4, 2023
Written by Laura Miller
The spread between hot-rolled coil (HRC) and galvanized coil base prices widened over the last month as hot rolled prices declined faster than prices for galvanized product.
At the end of June, galvanized coil’s premium over HRC averaged $150 per net ton ($7.50 per cwt). That premium increased to $195 per ton in our last check of the market.
Canton, Ohio-based specialty metals manufacturer Metallus has been awarded a contract valued at up to $995 million by the US Defense Logistics Agency (DLA), part of the Department of War.
U.S. Steel is investing $28.3 million in its Great Lakes Works in Michigan, with upgrades planned for its pickle line during a 30-day outage starting in October.
The result comes after Mexico’s Ministry of Economy completed a five-year sunset review of the anti-dumping duty (AD) order on imports of hot-rolled (HR) sheet from Russia and Ukraine.
President Trump said a trade deal with Canada could come within the next few weeks.
Mexico's Construcciones e Ingenierías Electromecánicas SA de CV (CIESA) has emerged as the leading bidder for the assets of bankrupt steelmaker Altos Hornos de México (AHMSA) and its mining subsidiary Minera del Norte (MINOSA). The Michoacán-based engineering and construction company offered $1.4 billion in a court-supervised bankruptcy auction held Sept. 25.