Domestic raw steel production recovered last week, after slipping the week prior, according to the latest American Iron and Steel Institute (AISI) data. Weekly production remains at some of the lowest levels recorded this year.
Cleveland-Cliffs announced the closing of its December order book for hot-rolled coil spot purchases, though it said contract bookings remain available.
Worthington Steel has named Cliff Larivey as the company’s president of flat-rolled steel processing, effective Dec. 1. He will replace Jeff Klingler, who had been performing the role for the past year.
Another presidential election cycle has come to an end. If you’re anything like me, part of you is just happy you no longer need to unsubscribe or “text STOP to opt-out” from the onslaught of political text messages this cycle produced.
Slowing growth in data center planning and nonresidential projects caused the Dodge Momentum Index (DMI) to pull back in October.
The price spread between US-produced cold-rolled (CR) coil and offshore products remained largely flat in the week ended Nov. 8, on a landed basis.
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
ArcelorMittal’s earnings saw notable declines from a year earlier as the company said market conditions remain challenging.
US hot-rolled (HR) coil prices moved lower this past week while tags in offshore markets were largely higher. Domestic tags are again nearly level with imports on a landed basis.
Construction spending in the US picked up in September and maintained a notable year-over-year (y/y) rise.
Metalformers in the US and Canada expect a decline in economic activity in the coming months, according to the recently released October Business Conditions Report from the Precision Metalforming Association (PMA). Approximately 37% of surveyed manufacturers anticipate weaker business conditions over the next three months. This rate is up from 31% in September but a […]
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Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and cut-to-length plate with the opening of its December order book.
Primetals Technologies renewed two long-term maintenance service contracts with steel producers in the Americas.
US plate prices are at their lowest level in almost four years, and less than half of what they were when they reached an all-time high of $1,940 per short ton (st) in May 2022.
The price spread between US-produced cold-rolled (CR) coil and offshore products was negligibly tighter in the week ended Oct. 25, on a landed basis.
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
The construction sector added 25,000 jobs in September, driven by labor shortages and improved wages, according to data released by the US Bureau of Labor Statistics.
Growth in the US economy continues to crawl with little change in most districts. The Federal Reserve’s October Beige Book report showed three-quarters of reporting districts with flat or declining economic activity.
US hot-rolled (HR) coil prices moved lower again this past week. A similar trend was seen in offshore markets, keeping domestic tags marginally above imports on a landed basis.
Insteel Wire Products Co., a subsidiary of Insteel Industries, has acquired Liberty Steel’s Engineered Wire Products (EWP) for $70 million with cash on hand.
Nucor is holding its hot-rolled coil consumer spot price at $720/short ton this week.
Zekelman Industries has announced a joint venture with Maverick Pipe, expanding its offerings of US-made strut channel, PVC conduit, and PVC fence products.
The price spread between US-produced cold-rolled (CR) coil and offshore products was negligibly wider in the week ended Oct. 18, on a landed basis.
CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]
US hot-rolled (HR) coil prices slipped again this past week, mirroring movement in offshore markets. This kept domestic tags marginally higher than imports on a landed basis.
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
We just wrapped up another Steel 101 workshop, easily the most hands-on industry workshop on steelmaking and market fundamentals, in this humble opinion. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Starkville, Miss.
North American auto assemblies fell by nearly 7% from August, but were still ahead of July’s 20-month low. Assemblies were also down just under 1% year on year (y/y), according to LMC Automotive data.
Flat rolled = 60.8 shipping days of supply Plate = 52.7 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers declined in September, though still seasonally high. September’s report reflects lower demand, stable lead times, and restocking early in the third quarter at a perceived bottom in prices. At the end […]