U.S. Steel does not plan to build additional electric-arc furnace capacity for the “foreseeable future,” company executives said. The company also plans to keep the “A” blast furnace at its Granite City Works in southern Illinois idled, they suggested. U.S. Steel acquired two flat-rolled EAFs when it closed its deal for Big River Steel’s mill […]
A global microchip shortage could prove more disruptive to North American auto assembly plants than initially expected, according to some market participants. Nissan’s truck assembly plant in Canton, Miss., has had to slow production because of the microchip shortage, the company confirmed. General Motors–the largest automaker in the U.S.–has not been impacted “as of now,” […]
O’Neal Steel has appointed Andria Cleghorn to be its chief financial officer effective Feb. 1. Cleghorn has more than 12 years’ experience and previously held senior financial roles in the concrete and oil sectors. “Andria’s extensive background and proven results in corporate finance will accelerate our growth trajectory and help shape the landscape for our […]
JSW Steel USA has opened the March order book at its flat-rolled steel mill in Mingo Junction, Ohio. “We will restart in March…. The March order book is open,” JSW Steel USA CEO Mark Bush said in emails to Steel Market Update. The Ohio mill will sell both hot-rolled coil and slab, he said. Bush confirmed […]
Cracks might be forming in the groundwork that has to date led U.S. flat-rolled steel prices to their highest point on record. Whether they are big enough to send towering prices tumbling down or merely a distraction remains to be seen, markets sources generally agreed. Prices have nowhere to go but up in the short […]
Steel Dynamics Inc. President and CEO Mark Millett has been elected to serve as board chairman of the Steel Manufacturers Association for the lobbying group’s 2021-22 term. “The SMA is uniquely positioned to represent electric arc furnace steel producers, who over the last 30 years have emerged as the dominant force in North American steelmaking […]
JD Fields & Co. Inc. and HDM Tubes Ltd. have teamed up to build a new spiral-weld pipe mill on the campus of Steel Dynamic Inc.’s new flat-rolled steel mill in Sinton, Texas. The joint venture between JD Fields, a steel distributor focused on the energy and civil infrastructure markets, and HDM, a Turkish pipe […]
The Biden administration’s cancellation of the Keystone XL pipeline has prompted the United Steelworkers union in Canada to prod Ottawa to implement “Buy Canadian” policies in a bid to stem job losses. “Layoffs and plant closures seem to be the only orders on the books for many Canadian steel plants,” said USW Western Canada Director Stephen […]
Evraz North America has followed Nucor and SSAB Americas in increasing plate prices by at least $80 per ton ($4/cwt). The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 26. “We reserve the […]
NLMK USA has sued U.S. Steel for at least $100 million to recoup Section 232 tariffs it claims were unjustly levied against it because of a “deception” perpetrated by the integrated steelmaker against the Commerce Department. In addition, the U.S. subsidiary of NLMK Group–Russia’s largest steelmaker–seeks a jury trial, additional damages to be determined at […]
Nucor and SSAB Americas aim to increase plate prices by another $80 per ton ($4/cwt). Effective immediately, Nucor’s new ex-works base price for cut-to-length grade A36 plate is $1,020 per ton ($51/cwt), up from $940 per ton on Jan. 5, according to a letter sent to customers on Tuesday. The new base price for quenched-and-tempered A514 […]
California Steel Industries (CSI) has closed its April flat-rolled order book just a week after opening it. “The orders you submitted during the last few days allowed us to achieve our planned capacity utilization. … We will contact you when we open the flat-rolled order book for May,” the West Coast slab converter said in […]
President Joe Biden has signed an executive order aimed at more strictly enforcing laws stipulating that U.S.-made goods be used in federally funded projects. Key to steel: The order will further limit waivers to domestic-content requirements for products that are truly not made in the U.S., industry sources said. The move is important because the […]
Cleveland-Cliffs plans to restart the No. 6 blast furnace at its steel mill in Cleveland, Ohio, a company spokeswoman said. Output from the No. 6 furnace will help to replace lost production from the steelmaker taking down for maintenance the No. 3 furnace at its Middletown, Ohio, mill, she said. “We are not planning to […]
Olympic Steel’s chief executive officer is bullish on steel demand in the months ahead despite the risks posed by higher prices. That optimism stems from the Biden administration indicating that it plans to spend big on infrastructure and from the prospect of the U.S. getting a better handle on the Covid-19 crisis, Olympic Steel CEO […]
It might be comforting to have 2020 in the rear-view mirror, but 2021 could have a few tricks up its sleeves, an ArcelorMittal USA analyst said. The good news: The U.S. should see apparent steel consumption increase 6% in 2021 after it fell 16% in 2020, according to Ping Liang, senior analyst-strategic marketing, at ArcelorMittal […]
Steel prices surging to their highest levels ever has masked another potentially key market trend–a narrower spread between hot-rolled coil and galvanized base prices, according to Steel Market Update (SMU) data. SMU’s hot-rolled coil price averages $1,130 per ton ($56.50/cwt), $60 per ton above 2008’s peak of $1,070 per ton. The base price for galvanized […]
At least two more automakers with substantial North American operations have cut production because of a global microchip shortage, according to company representatives. Stellantis has scheduled “down time” at an assembly plant in Brampton, Ontario, a company spokeswoman said. The Canadian plant makes the Chrysler 300, Dodge Charger and Dodge Challenger cars. The company – […]
Subaru will scale back production of vehicles at its assembly plants in Lafayette, Ind., and in Japan’s Gunma prefecture, because of a semiconductor shortage, a company spokesman said. “We currently expect several thousand units will be affected at each plant,” he said. “We are closely watching the situation and working to minimize the impact on […]
California Steel Industries (CSI) has opened its April flat-rolled order book, and it has done so at sharply higher prices, according to some market participants. “California Steel Industries reserves the right to review any previously quoted requirements that have not been placed, acknowledged or confirmed in writing,” the West Coast slab converter said in a […]
Flat-rolled steel prices have room to rise despite being at record levels, and any correction might not come until well into the second quarter. That was the takeaway from a conference call this morning with members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI). “I don’t remember a market like this. Maybe at […]
Reliance Steel & Aluminum Co. has promoted Karla R. Lewis to the role of president and given her a seat on the company’s board of directors. Both moves were effective on Jan. 15 and were part of Reliance’s executive succession plan, the company said. “Karla has been at the center of Reliance’s extremely well executed […]
The Biden administration could act fast on a big infrastructure bill if the Senate is quick to approve the president-elect’s Cabinet, the head of the American Iron and Steel Institute (AISI) said. “By sometime this spring, I think we could have a major infrastructure bill done,” AISI President and Chief Executive Officer Kevin Dempsey said […]
The Biden administration could act fast on a big infrastructure bill if the Senate is quick to approve the president-elect’s Cabinet, the head of the American Iron and Steel Institute (AISI) said. “By sometime this spring, I think we could have a major infrastructure bill done,” AISI President and Chief Executive Officer Kevin Dempsey said […]
U.S. Steel has closed its $774 million deal for the remaining stake in electric-arc furnace steelmaker (EAF) Big River Steel. “Taking a page from the Big River Steel playbook, we are closing on this world competitive green steel asset purchase under budget and ahead of schedule,” said U.S. Steel President and Chief Executive Officer David […]
Tex-Isle Inc. plans to build a new electric-resistance welded (ERW) pipe mill with annual capacity of 350,000 tons per year near Steel Dynamics Inc.’s (SDI’s) new flat-rolled mill in Sinton, Texas. The new pipe mill is scheduled to open in Robstown, Texas, in the third quarter of this year and will be adjacent to Tex-Isle’s […]
Plate prices usually carry a premium to hot-rolled coil tags – but that typical relationship has been turned upside down since early October. The question now: Could price hikes of at least $140 per ton announced by some North American plate mills last week help narrow the gap? The Numbers SMU’s hot-rolled coil price currently […]
The U.S. steel industry has enough capacity to meet demand even if the Biden administration passes a big infrastructure bill, said the top executive of the nation’s biggest steelmaker. The United States “desperately needs” an infrastructure package worth “more than $1 trillion,” and Nucor hopes such a bill will be passed in the early days […]
U.S. steel lobbying groups and the United Steelworkers union want the administration of President-elect Joseph Biden to keep Section 232 tariffs and quotas in place. The steel groups and the union think the protections are necessary because of global steel overcapacity and because of the economic impact of the Covid-19 pandemic, according to a recent […]
Most new U.S. flat-rolled electric-arc furnace steelmaking capacity won’t start up until the second half of this year, which could have big implications for spot hot-rolled coil prices. The back-ended nature of the capacity add means the market might sustain hot-rolled coil prices of $1,000 per ton or more longer than many buyers believe, industry sources […]