On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, lead times, scrap prices, performance, purchasing, and demand. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included […]
Ryerson Holding Corp. announced Dec. 4 that it acquired Hudson Tool Steel Corporation. The Cerritos, Calif.-based Hudson is a supplier of tool steels and high-speed, carbon, and alloy steels. The company has additional locations in Loves Park, Ill., and Dover, N.H. Terms of the deal were not disclosed. “Hudson’s offering of high-quality standard and specialty-grade […]
Raw steel production in the US rose in the week ended Dec. 2, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 4.
Activity in the US manufacturing sector contracted once again in November.
The Global Steel Climate Council (GSCC) announced on Dec. 4 the appointment of an executive director.
The active rotary rig count for the week ended Dec. 1 inched up in the US but slid in Canada, according to Baker Hughes.
In its Beige Book report released on Nov. 29, the Federal Reserve noted slower economic activity since October's report.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.
Optimism is on the rise among metalformers who expect less volatility in economic activity in the coming months, according to the November business report from the Precision Metalforming Association (PMA).
Hybar's new rebar mill is set to be outfitted with 16 cranes of various capacities, according to a news release from Finnish crane manufacturer, Konecranes.
Overall raw steel production in the US was down for the week ended Nov. 25, according to the American Iron and Steel Institute's report (AISI) on Monday, Nov. 27.
Lead times for all steel sheet products but cold rolled were extended last week as prices trend upwards.
The active rig count for the US and Canada both inched up for the week ended Nov. 22, according to Baker Hughes. The rig count was released early this week due to the Thanksgiving holiday.
The 2024 Tampa Steel Conference is only nine weeks away. Tampa Steel is one of the premier steel conferences in the country. It is a great follow-up to the record-breaking SMU Steel Summit in August.
Raw steel production in the US inched up in the week ended Nov. 18, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 20.
The Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a decline for the fifth consecutive month in October. The index dropped to 44.3 in October, 0.5 points below 44.8 in September – and marking the lowest score since December 2020. The ABI is a leading economic indicator for […]
Increasing mortgage rates have caused builders to lose confidence in the market, according to the National Association of Home Builders (NAHB).
The active rig counts for week ended Nov. 17 were up in the US, while the Canadian counts declined, according to Baker Hughes.
New York's manufacturing activity saw an increase in November, according to the most recent Empire State Manufacturing Survey.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.
Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.
Nucor executives discussed the specifics of the company's 'net-zero by 2050 strategy' during a webcast on Nov. 14.
Raw steel production in the US decreased in the week ended Nov. 11, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 13.
Nucor Corp. has announced its target date for net-zero greenhouse gas (GHG) emissions as 2050.
Domestic heating and cooling equipment shipments declined in September, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
For the week ended Nov. 10, active rig counts in the US dropped while inching up in Canada, according to Baker Hughes.
Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.
September shipments from American steel mills decreased vs. shipments in August, according to the latest monthly data from the American Iron and Steel Institute (AISI).
On Nov. 6, the US General Services Administration (GSA) announced $2 billion in funding for 150 construction projects that use cleaner construction materials, including steel.
The Dodge Momentum Index (DMI) increased in October thanks to stronger commercial activity, according to the latest Dodge Construction Network (DCN) data.