I have been communicating with Mark Bush, CEO of JSW Steel USA, regarding their Mingo Junction steel plant. The plant has been down since late July as the company reacted to “unforeseeable business circumstances in connection with the current COVID-19 pandemic….” The plant has been rumored to begin operations in February 2021. SMU reached out […]
The tightness of the flat rolled steel market, and when that tightness might dissipate, are topics being actively discussed within the industry. Lead times are already into January at some mills, slabs are limited to the converters who were buying from Brazil, maintenance schedules are pushing lead times, and demand is up whether from rising […]
Steel Market Update is pleased to announce that we will re-start our SMU Community Chat Webinar series on Wednesday, Oct. 7, at 11 a.m. ET. Our speaker will be Timna Tanners, Metals and Mining Analyst at Bank of America and the owner of the “Steelmageddon” terminology. Joining Timna will be John Packard, President & CEO […]
I began writing Steel Market Update as a way to use my experience and relationships from my 31 years of sales and management within the steel industry in order to assist the industry to make better buy/sell decisions. I wanted SMU to be a source of quality information as we ask the targeted questions of […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
Steel Market Update is pleased to announce that we will re-start our SMU Community Chat Webinar series on Wednesday, Oct. 7, at 11 a.m. ET. Our speaker will be Timna Tanners, Metals and Mining Analyst at Bank of America and the owner of the “Steelmageddon” terminology. Joining Timna will be John Packard, President & CEO […]
Steel Market Update is pleased to announce that we will re-start our SMU Community Chat Webinar series on Wednesday, Oct. 7, at 11 a.m. ET. Our speaker will be Timna Tanners, Metals and Mining Analyst at Bank of America and the owner of the “Steelmageddon” terminology. Joining Timna will be John Packard, President & CEO […]
With steel mills currently having extended mill lead times, steel buyers need to be cognizant of their inventories. If one has two months of inventory and the mills are running seven-week lead times on your products, then you need to be concerned should lead times move out even further. If you are an active buyer […]
With steel mills currently having extended mill lead times, steel buyers need to be cognizant of their inventories. If one has two months of inventory and the mills are running seven-week lead times on your products, then you need to be concerned should lead times move out even further. If you are an active buyer […]
Mill lead times are extended, price increase announcements are being made (with ArcelorMittal USA putting a minimum base price on hot rolled out there of $650 per ton and cold rolled and coated at $850 per ton) and mills are holding the line on spot negotiations. Momentum is clearly on the side of the steel […]
All the integrated steel mills in the United States will soon be controlled by U.S. companies. Cleveland-Cliffs is buying ArcelorMittal USA assets…well, most of the U.S. assets. They did not acquire the ArcelorMittal/Nippon Steel Calvert steel mill located just outside of Mobile, Ala., and they did not purchase the Dofasco plant located in Hamilton, Ontario, […]
We are in high campaign season. The death of Associate Justice Ruth Bader Ginsberg, and the nomination of Judge Amy Covey Barrett of Indiana as her successor, have drained a lot of the oxygen about foreign policy and trade. But those issues will not disappear. In a briefing sponsored by the U.S. Chamber of Commerce […]
The following comments were made by an importer of European steel as SMU was updated on their view of the industries they service in the United States. SMU thought the comments provide an interesting perspective for our readers: “Auto has been coming back strong. I don’t see the impact on the domestic mills, but I […]
For those of you who are new to our newsletter my final thoughts is an area where I get to muse about items I find important, or to provide my opinion, or just random thoughts that I may be having. We are now in the last few days of September with Thursday of this week […]
From one of our SMU readers to John Packard, President & CEO of Steel Market Update, “Welcome back… Regarding steel, wow. What a difference a month (or, a month and half) makes!” A second reader told us, “Market pricing and lead-times have moved aggressively…and rapidly. Many are finding themselves too late to the party.” It […]
Steel Market Update has had conversations/communications with Robert Miller, CEO and James Banker, Jr., Executive Vice President of NLMK USA as we endeavor to learn more about the status of the strike against the Farrell, Pennsylvania facility, status of slabs for the Farrell mill, and gain a better understanding of the general flat rolled steel […]
There is a lot of catching up that I have had to do over the past few days. In the process I have spoken to steel buyers and sellers, mills, service centers, and traders. Steel buyers should anticipate another flat rolled price increase between now and early October. Scrap is rumored to be going up […]
I am back. One of the questions I got on this morning’s HARDI steel conference call was if I really did go off the grid and not stay in touch with the market over the 24 days that I was away from my office? The answer was I rented a cottage about as far off […]
Tomorrow we finally go LIVE! We will open the 2020 SMU Steel Summit Conference officially at 10 AM ET. This being an unusual year, we came up with an unusual opening, and one that I think you will not want to miss. Some quick facts – we are around 870 registrations as of Sunday, Aug. […]
Today we finally go LIVE! The platform is now open. There is content beginning at 9 AM this morning. We will open the 2020 SMU Steel Summit Conference officially at 10 AM ET. This being an unusual year, we came up with an unusual opening, and one that I think you will not want to […]
First, the link to the SMU Steel Summit Virtual Conference platform is www.smusteelsummit2020.com From there you enter your email address and the password which was sent to you. Here is what you can expect to happen on Monday, Aug. 24. There will be people available live on the site to assist you (green button in […]
First, the link to the SMU Steel Summit Virtual Conference platform is www.smusteelsummit2020.com From there you enter your email address and the password which was sent to you. If you have not yet registered for the conference please click here or go to www.smusteelsummit.com Here is what you can expect to happen on Monday, Aug. […]
After knocking it out of the park during the first day of our conference, we are going to shift into cruise mode as we hit on the economy and the major end-use segments affecting the industry. We have two “new” mill CEO’s joining our conference for the first time. The Nucor and U.S. Steel exec’s […]
After knocking it out of the park during the first day of our conference, we are going to shift into cruise mode as we hit on the economy and the major end-use segments affecting the industry. We have two “new” mill CEO’s joining our conference for the first time. The Nucor and U.S. Steel exec’s […]
Welcome from SMU Virtual Steel Summit Conference control central in Hobe Sound, Fla. It’s sunny, temperatures are in the mid-90’s and my home looks nothing like a typical Florida residence as a team of production and audio/visual experts assist in the creation this year’s virtual event. Putting on a conference as large as ours has […]
Last week Steel Market Update adjusted all of the flat rolled price momentum indicators from Neutral to Higher. We made the decision to move hot rolled, cold rolled, galvanized and Galvalume to higher due to prices already beginning to track up from the low levels achieved over the past couple of weeks. We also made […]
It has been almost 12 months in the making and, due to the pandemic, one of the most carefully crafted agendas ever presented for an SMU Steel Summit Conference. Here is the final agenda for this year’s “virtual” conference. All times referenced are Eastern Time. The programs on the agenda prior to 10:00 AM are […]
It has been almost 12 months in the making and, due to the pandemic, one of the most carefully crafted agendas ever presented for an SMU Steel Summit Conference. Here is the final agenda for this year’s “virtual” conference. All times referenced are Eastern Time. The programs on the agenda prior to 10:00 AM are […]
SMU and the CRU events teams have been working for months on the 2020 version of the SMU Steel Summit Conference, and now it is time to go live. The note today should say seven days to go before the opening of the 2020 SMU Virtual Steel Summit Conference, but that is not how this […]