Product
September 5, 2024
Written by Stephen Miller
Great Lakes-area mills have entered the September ferrous scrap market in a surprisingly prompt manner.
Mills in Detroit have reportedly bought scrap sideways from August, with the exception of shredded scrap, which fell $20 per gross ton.
President Trump announced that Mesabi Metallics will build the largest steel plant in the US in the state of Iowa.
Stelco Holdings Inc. is indefinitely idling its finishing operations in Hamilton, Ontario. The Canadian steelmaker, a subsidiary of Cleveland-Cliffs, will concentrate steel production at its Lake Erie Works in Nanticoke, Ontario, a Cliffs spokesperson told SMU.
Cleveland-Cliffs Inc. has confirmed a fatal accident occurred at its Monessen coke facility on Sunday, but said production has not been impacted.
US steel industry groups representing most of domestic steel production are urging the Trump administration to tighten trade measures on steel imports from South Korea. They are seeking a South Korea-specific tariff-rate quota (TRQ) and an investigation into a reported import surge.
Nucor said its consumer spot price for hot-rolled coil will be $1,220 per short ton (st) for the week of Sept. 28. That's a 10/st increase from a week earlier.