New, single‐family home sales were up marginally in February, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau. Monthly gains were impacted by high mortgage rates and prices, while rising construction costs were also to blame. Despite dull results, signs point towards improvement later in […]
The spread between hot-rolled coil (HRC) and prime scrap prices has widened significantly in March as both products saw large price gains, according to Steel Market Update data. With a flurry of recent price increases, our hot-rolled coil price average jumped $25 per ton week over week to $1,140 per ton ($57 per cwt) as of March 21. […]
US Steel has restarted the No. 8 blast furnace at its Gary Works in northwest Indiana. The Pittsburgh-based steelmaker said it restarted the furnace in early March in response to improving demand and rising prices. The company had idled the No. 8 furnace in September, citing difficult market conditions and competition from imports. It hinted […]
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, March 22, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the outlook for […]
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, March 22, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the outlook for […]
Domestic hot-rolled coil (HRC) continues to hold a competitive price advantage over imported steel, though it has declined over the past couple of weeks, according to Steel Market Update’s latest foreign vs. domestic price analysis. US HRC is approximately just 1–8% cheaper than foreign prices this week, after consideration of freight costs, trader margins, and […]
The United States lost a dispute in the World Trade Organization last month. This is hardly the first time. In this case, tariffs and other import restrictions on steel and aluminum imposed by President Trump in 2018 were found to violate WTO agreements. The United States argued that its invocation of “essential security interests” was […]
US manufacturing activity slipped in December, for the second consecutive month, according to the Institute for Supply Management (ISM). The ISM’s December manufacturing PMI remains below the neutral 50.0 mark — the level typically dividing expansion from contraction. On the heels of a 29-month period of growth, this is now the lowest level since May […]
Flat Rolled = 52.4 Shipping Days of Supply Plate = 50.3 Shipping Days of Supply Flat Rolled US service center flat-rolled supply in November was steady month on month (m/m), according to Steel Market Update data. At the end of November, service centers had 52.4 shipping days of flat-rolled steel supply on an adjusted basis, compared […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available in the Survey Results section under “Survey Results History.” If you need help […]
The US Department of Commerce has updated antidumping and countervailing duties (AD/CVD) on carbon and alloy cut-to-length plate imports from Italy and South Korea after two administrative reviews, according to Federal Register filings reviewed by Steel Market Update. In the AD duty review of Italian CTL plate shipments during the one-year period ended April 30, […]
Wolfe Research managing director Timna Tanners joined SMU for an Community Chat on Wednesday to talk about her forecast for 2023, including the calm before the sheet storm. Tanners is bullish about the first half next year. She forecast HRC prices would average $775 per ton ($38.75 per cwt) in Q1 2023, dip to $750 per ton […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our SMU Community Chat webinar on Wednesday, Nov. 30, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. It’s not too late to register here. We’ll talk about Tanners’ outlook for steel prices, raw materials costs, […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our SMU Community Chat webinar on Wednesday, Nov. 30, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about Tanners’ outlook for steel prices, raw materials costs, as well […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our SMU Community Chat webinar on Wednesday, Nov. 30, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about Tanners’ outlook for steel prices, raw materials costs, as well […]
Rock Trading Advisors President David Feldstein will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 12, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. We’ll discuss the last three years in the […]
Rock Trading Advisors President David Feldstein will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 12, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. We’ll discuss the last three years in the […]
Rock Trading Advisors President David Feldstein will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 12, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. We’ll discuss the last three years in the […]
Sandeep Pandya, CEO of Everguard.ai., shared his expertise on how artificial intelligence (AI) technology can improve safety in the workplace in the latest SMU Community Chat. “In the steel industry, we have so many folks doing so many different activities, and the focus is worker safety. Deep learning helps us contextualize what the worker is […]
Everguard.ai CEO Sandeep Pandya will be the featured speaker on the next SMU Community Chat webinar this Wednesday, Sept. 21, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. Sandeep will explain some of the most innovative safety […]
Everguard.ai CEO Sandeep Pandya will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Sept. 21, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. Sandeep will explain some of the most innovative […]
Everguard.ai CEO Sandeep Pandya will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Sept. 21, at 11 a.m. ET. The live webinar is free. A recording will be free to SMU members. You can register here. Sandeep will explain some of the most innovative safety technology advancements —including not only […]
Everguard.ai CEO Sandeep Pandya will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Sept 21, at 11 a.m. ET. The live webinar is free. A recording will be free to SMU members. You can register here. Sandeep will explain some of the most innovative safety technology advancements —including not only […]
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, July 27, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about big topics […]
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, July 27, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about big topics […]
Mercury Resources CEO Anton Posner will be the featured speaker on the next SMU Community Chat webinar on Wednesday, July 13, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the global supply chain, why it’s still snarled and how […]
Mercury Resources CEO Anton Posner will be the featured speaker on the next SMU Community Chat webinar on Wednesday, July 13, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the global supply chain, why it’s still snarled and how […]
The rally was fun while it lasted, but new capacity delayed in large part because of Covid has arrived or soon will, popular analyst Timna Tanners said. And it will coincide with some demand weakness. The result: “steelmageddon” (aka “sheet storm”) might have been delayed. But it has finally arrived, she said. “Here we are with capacity starting […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our next SMU Community Chat webinar on Wednesday, June 29, at 11 a.m. ET. Don’t miss it! You can register here. The live webinar is free for all. A recording will be available free only to SMU members. We’ll talk about Tanners’ outlook […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our next SMU Community Chat webinar on Wednesday, June 29, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about Tanners’ outlook for steel prices, raw materials costs, […]