HRC vs. busheling spread narrows in January
The spread between hot-rolled coil (HRC) and prime scrap prices narrowed slightly this month, according to SMU’s most recent pricing data.
Contributor: Ethan Bernard
Ethan Bernard
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January scrap prices slip less than initial offers
Domestic scrap prices ended up down slightly after a roller coaster of trading in January, scrap sources told SMU.
AHRI shipments continued to decline in November
November’s shipments for domestic heating and cooling equipment shipments declined for a third consecutive month, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).
Nippon Steel taps Hashimoto as CEO
Nippon Steel said Eiji Hashimoto has been named chairman and CEO, effective April 1.
January scrap tags on wild ride in still unsettled market
US scrap prices for January remained unsettled as of early Thursday afternoon, according to market sources.
Mercedes-Benz workers in Alabama make push to join UAW
Employees at the Mercedes-Benz plant near Tuscaloosa, Ala., have kicked off their public campaign to join the United Auto Workers (UAW) union.
TimkenSteel set for rebrand as 'Metallus'
TimkenSteel said on Wednesday it is changing its company name to “Metallus Inc.”
AISI: November steel shipments rise on-year but slip from October
Domestic steel mill shipments increased in November vs. a year earlier, but fell month over month.
AISI: Raw steel output rises to kick off new year
Raw steel production in the US increased in the first week of 2024, according to the most recent data from AISI.
Report: Nippon Steel sees clear skies ahead for USS deal
Nippon Steel believes it can successfully complete its planned buy of U.S. Steel, according to a report in Reuters.
SMU survey: Steel Buyers Sentiment Indices slump to start 2024
SMU’s Buyers Sentiment Indices both fell this week, with current sentiment taking a large dive to begin the new year, according to our most recent survey data.
Radius Recycling posts quarterly loss on tight supply flows, lower tags
Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products.
SMU survey: Buyers say mills slightly less willing to talk price
The percentage of steel buyers saying mills were willing to negotiate spot pricing on the products SMU surveys was mixed this week.
Cliffs names Bloom to board of directors
Cleveland-Cliffs has appointed private-equity executive Ron Bloom to its board of directors, effective immediately.
Olympic taps Siegal for new role in manufactured metal products
Olympic Steel has promoted Zachary Siegal to the newly created role of president of manufactured metal products.
Final thoughts
The end of one year is often both a time for reflection, and for looking ahead. You make sense of the ups and downs from January through December. Then you wipe off the old crystal ball, and try to make out what’s in store for the next 365 days.
Get a jump on 2024 at the Tampa Steel Conference
While you gear up for the holidays, don’t forget that the 2024 Tampa Steel Conference is just a little over a month away. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.
SMU survey: Mills more willing to negotiate price on all products - except cold rolled
All of the products SMU surveys notched an increase in the percentage of buyers saying mills were willing to negotiate spot pricing, with the exception of cold rolled, according to our most recent survey data.
SMU survey: Current Buyers Sentiment Index rises, future index falls
SMU’s Current Buyers Sentiment Index inched up this week, while the future index edged down, based on our most recent survey data.
US steel mill shipments slip YTD through October: AISI
Domestic steel mill shipments dipped year-to-date (YTD) through October from a year earlier, according to revised American Iron and Steel Institute (AISI) data.
Housing starts climb in November as interest rates fall
US housing starts jumped in November on lower interest rates stimulating home buying, according to the most recent data from the US Census Bureau.
AISI: US raw steel output inches up 1%
US steel production increased for the week ended Dec. 16, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 18.
US senators Vance, Fetterman oppose USS sale to Nippon Steel
US Sens. JD Vance (R., Ohio) and John Fetterman (D., Pa.) have come out against the sale of U.S. Steel to Japan’s Nippon Steel.
Canacero hits back at claim of 'surge' of Mexican steel imports
Mexican steel association Canacero has responded to a Dec. 13 letter from US senators, and disputes the claim of a “surge” of Mexican steel imports.
Tampa Steel Conference is just around the corner
The 2024 Tampa Steel Conference is coming up soon after the kickoff of 2024. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.
SDI sees lower Q4 earnings, but steel order activity 'solid'
Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings sequentially and on-year, though the company said “steel order activity remains solid.”
US senators call for deadline on Mexican steel export monitoring agreement
A bipartisan group of US senators has written a letter requesting a clear deadline for an export monitoring agreement of Mexican steel products into the US market.
HRC vs. busheling spread widens in December
The spread between hot-rolled coil (HRC) and prime scrap prices widened slightly this month, according to SMU’s most recent pricing data.
UAW's Fain gives plan for unionizing non-union auto workers
United Auto Workers President Shawn Fain outlined the union’s strategy to unionize nonunion auto workers in the US.
Domestic scrap tags soar in December
US scrap prices shot up in December and are expected to continue their rise in January, market sources told SMU.