Reibus, the online metals marketplace, now offers long products as well as flat rolled, sheet and plate products. Reibus (www.reibus.com) is an independent SaaS-enabled marketplace that utilizes technology to match buyers and sellers and to solve ingrained supply chain problems in the industrial material market. “With momentum building and partnerships forming throughout the metals industry, […]
Nucor Steel Berkeley notified customers yesterday, May 24, that it is raising published prices on most of its structural steel products by $100 per ton ($5.00/cwt), effective immediately, in the latest of a series of price hikes dating back for a year. “As always, we will monitor the marketplace and respond accordingly to changes so […]
Indian steelmaker JSW Steel Ltd. suffered losses of nearly $31 million at its U.S. operations in its fiscal fourth quarter as its mills worked to return to production following pandemic-related shutdowns. JSW Steel USA idled its Mingo Junction, Ohio, and Baytown, Texas, mills in 2020 in response to poor demand resulting from the COVID-19 outbreak. The […]
Steel Market Update surveys readers each week to monitor market sentiment. The prevailing view on key issues this week: record high steel prices still have room to run; the high prices have not cut into demand yet; repealing Section 232 on imports from the EU is a questionable move; and inflation poses a threat to […]
Steel Market Update surveys readers each week to monitor market sentiment. The prevailing view on key issues this week: record high steel prices still have room to run; the high prices have not cut into demand yet; repealing Section 232 on imports from the EU is a questionable move; and inflation poses a threat to […]
Paragon Steel has acquired Cleveland-based Buckeye Metals Industries, Inc., a growing distributor of carbon steel with an extensive network of suppliers and processing partners. “Buckeye Metals has been a great industry partner of ours for many years,” said Bruce Whitman, general manager of Paragon Steel. “The combined team created by the acquisition is a win-win […]
David Samrick, former CEO and chairman of Mill Steel Co., died peacefully May 14 surrounded by his family. Samrick’s career in the family service center business began in 1965 at age 19. With his aptitude for leadership and keen business insight, he was promoted to president in 1976, then CEO and chairman in 1985. Alongside his […]
U.S. Steel’s surprise decision to pull the plug on the $1.5-billion upgrade at its Mon Valley Works pleased environmental advocates but came as a serious blow to the economic environment in the Pittsburgh area. Government officials, unions and citizen groups cried foul over what they see as the loss of thousands of jobs from a […]
Reibus, an online industrial marketplace, has expanded its footprint outside the United States with the hiring of Doug Thompson as its country leader for Canada. Thompson brings more than 30 years of steel manufacturing and supply chain experience to his new role. Most recently, he served as president of Coilplus Canada. “After having spent a […]
As the days pass, more people get vaccinated and business begins to return to normal after a year of dealing with the pandemic. We are looking forward to being together in person this summer on Aug. 23-25 in Atlanta for the 11th Annual SMU Steel Summit Conference. Many of you are planning your trip down to […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
Join us for CRU’s Annual New York Steel Seminar featuring the outlook for steel and key considerations for navigating price volatility alongside the low carbon transition. Date: Wednesday, June 16, 2021 Time: 10:00 a.m. – 12:00 p.m. EDT Despite the pandemic’s impact now easing on the steel industry, domestic and global steel markets continue to face uncertainty […]
While other measures of economic recovery still lag their pre-pandemic levels, that is not the case with the sentiment among steel buyers. Attitudes among buyers are already more positive than they were before COVID struck last year, and optimism levels are nearly the highest ever recorded in the 13 years that Steel Market Update has […]
Hot rolled steel prices have been on the rise since last August and hit a new record of $1,440 per ton this week as nine-week lead times have tightened supplies and made spot tons scarce. Can steel prices possibly continue rising for the rest of the year? Chris Shipp is convinced steel prices have a […]
With trading for May not quite finished this week, ferrous scrap prices appeared surprisingly strong, with obsolete grades up about $20/GT and prime grades moving sideways. Steel Market Update sources put the May price for shred in the range of $450-460 per gross ton, busheling at $590-600 per gross ton, and P/S at $440-445 per […]
Feralloy Corporation., a subsidiary of Reliance Steel & Aluminum Co., is planning to build a massive service center on the site of Steel Dynamics Inc.’s new flat rolled mill under construction in Sinton, Texas, near Corpus Christi. The new warehousing and processing center will be known as Acero Prime-Feralloy Texas. Acero Prime is Feralloy’s subsidiary […]
Reliance Steel & Aluminum Co., the nation’s largest metals distributor and processor, reported record pretax income of $359 million in first-quarter 2021, fueled by the unexpectedly high steel prices and solid demand in most of the markets the company serves. “The combination of a record quarterly gross profit margin, average selling prices well above our […]
Steel Market Update’s Steel Buyers Sentiment Indexes show buyers still very optimistic about their prospects for the rest of the year despite lingering concerns over COVID-19 and the possibility of a sharp correction in record-high steel prices. Both Current and Future Sentiment Index readings are even more bullish than they were in the first quarter last year before […]
Steel Market Update’s Steel Buyers Sentiment Indexes show buyers still very optimistic about their prospects for the rest of the year despite lingering concerns over COVID-19 and the possibility of a sharp correction in record-high steel prices. Both Current and Future Sentiment Index readings are even more bullish than they were in the first quarter last year before […]
TriMark Tubulars is a new brand in the market, but not a brand new competitor. Russel Metals and Marubeni-Itochu Tubulars America Inc. have combined their Canadian oil country tubular goods (OCTG) and line pipe businesses into a joint venture that will be better equipped to handle the challenging conditions in the energy market. Russel Metals […]
Talking to workers about the life-saving potential of COVID-19 vaccinations has turned into a personal mission for one mill executive (who asked not to be identified). “I spend at least one hour per day, every day, on COVID stuff. It’s frustrating there’s so much resistance.” Nearly all the individuals in his corporate suite have gotten their […]
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […]
Given the heightened urgency to reduce carbon emissions and address climate change, nearly all the world’s automakers plan to replace at least some of the internal combustion cars and trucks in their lineups with fully electric vehicles (EVs). GM, notably, has pledged to introduce 30 new EVs by 2025 and to produce nothing but EVs […]
Like those in the steel industry, aluminum suppliers see opportunity in the coming wave of battery electrical vehicles (BEVs). Indeed, they claim, even more opportunity for aluminum than for steel. Automakers are hard at work designing battery-powered cars and trucks with zero emissions as efforts to reduce harmful greenhouse gas emissions to slow climate change […]
The CRU Group has developed a web-based tool to help users understand emissions at the company and asset level to make better decisions in pursuit of lowering the carbon released into the atmosphere. CRU’s Emissions Analysis Tool uses standardized data and methodologies, calibrated to existing schemes such as the EU emissions trading system (EU ETS), International […]
The Biden administration’s ambitious American Jobs Plan, which calls for an historic investment in the nation’s infrastructure, offers enormous promise for the U.S. economy and steel demand, but it faces pushback on several fronts. President Biden addressed the nation from Pittsburgh yesterday afternoon to pitch his vision for an eight-year, $2-trillion infrastructure spending plan that […]