The Bureau of Industry and Security, a division of the Department of Commerce, announced today that is has denied the requests from California Steel Industries and Evraz Steel for exclusion of semi-finished steel slabs from the Section 232 tariffs. The BIS agreed with an analysis by the International Trade Administration that there is sufficient production, […]
The Bureau of Industry and Security, a division of the Department of Commerce, announced today that is has denied the requests from California Steel Industries and Evraz Steel for exclusion of semi-finished steel slabs from the Section 232 tariffs. The BIS agreed with an analysis by the International Trade Administration that there is sufficient production, […]
NLMK USA was not among the mills to learn earlier today that the Commerce Department had denied their requests for relief from the Section 232 tariffs on imported slabs. California Steel Industries and Evraz got the bad news. But NLMK USA President and CEO Robert Miller is still angry about it. “The administration, Commerce, BIS […]
Flat rolled steel service centers are beginning to believe a change in spot pricing is necessary. We saw a precipitous decline in the percentage of distributors who were lowering their spot pricing to their customers compared to a couple of weeks ago. One of the proprietary indices created by Steel Market Update is our Service […]
Flat rolled steel service centers are beginning to believe a change in spot pricing is necessary. New data collected by Steel Market Update saw a precipitous decline in the percentage of distributors who were lowering their spot pricing to their flat rolled steel customers compared to a couple of weeks ago. One of the proprietary […]
Flat rolled steel distributors have been slowly backing away from offering spot prices to their end customers at lower numbers than what was seen a couple of weeks ago. At the same time, these same service centers are reporting difficulties getting those same end user customers to pay higher prices, despite the price increase announcements […]
Flat rolled steel distributors have been slowly backing away from offering spot prices to their end customers at lower numbers than what was seen a couple of weeks ago. At the same time, these same service centers are reporting difficulties getting those same end user customers to pay higher prices, despite the price increase announcements […]
AK Steel announced that it will permanently close its Ashland Works facility in Kentucky by the end of 2019. The blast furnace and hot end operations were idled in 2015, but AK Steel continued to operate a single hot-dip galvanizing coating line. Ashland’s 330,000 tons of loaded production will be transferred to other units in […]
The big news for AK Steel this week was the closing of Ashland Works, but the company also posted remarkable financial results for full-year 2018. Sales in 2018 increased 12 percent to $6,818.2 million, generating net income of $186.0 million, a 25 percent increase from 2017. Increased sales were driven by higher carbon steel pricing […]
The year 2019 is shaping up to be a special year for Steel Market Update and our customers. Steel Market Update is much more than a source of market intelligence and a supplier of spot pricing for the flat rolled and plate steel markets. Over the years, SMU has developed a number of highly successful […]
The year 2019 is shaping up to be a special year for Steel Market Update and our customers. Steel Market Update is much more than a source of market intelligence and a supplier of spot pricing for the flat rolled and plate steel markets. Over the years, SMU has developed a number of highly successful […]
Returns from Steel Market Update’s market trends questionnaire show a growing percentage of manufacturing companies reporting service center spot pricing on flat rolled products as being lower than what they saw at the beginning of November. Seventy-three percent of the manufacturing respondents reported seeing slipping spot prices this past week. This is an increase of […]
My sources are telling me the electric arc furnace at JSW Ohio (former Mingo Junction) is almost ready to run. The company has been training and doing dry run testing, and I am being told they have enough crews to run 24 hours a day once the furnace comes back online. It appears the goal […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: Summary of Section 232 Exclusion Data As of early October, according to a comprehensive analysis by the Mercatus Center at George Mason University, there have been 30,916 tariff exclusion requests for steel products. There have been 14,356 objections, […]
The price increase on flat rolled seems to have “fizzled out,” according to many of the steel buyers Steel Market Update spoke with over the past two days. A number of mills have sweetened their end-of-the-year deals in order to finish out their 2018 order book. This is not unusual during a normal fourth quarter, […]
AK Steel reported its best third quarter in 10 years with net income of $67.2 million and a 39 percent year-over-year jump in adjusted EBITDA to $160.8 million. Steady shipment levels and higher steel selling prices and shipments more than offset higher costs for certain raw materials, transportation and supplies, including graphite electrodes, said the […]
I had an interesting conversation with James (Jim) Banker, Jr., who is the Executive Vice President of NLMK USA late this afternoon. We discussed a couple of topics. One I described in an earlier article about their Allegheny Technologies Inc. slab tolling arrangement announced this morning. The second topic was about why NLMK USA has […]
AK Steel has received an award of up to $1.2 million from the U.S. Department of Energy (DOE) to help fund its research into low-density steels, which could ultimately be used in automotive structural applications. AK Steel will work on a three-year project in collaboration with DOE, Oak Ridge National Laboratory and the Colorado School […]
California Steel Industries, NLMK and Evraz have filed rebuttals to objections made by U.S. Steel, Nucor and AK Steel to their petitions requesting exclusions for steel slab imports necessary for production. The slab converters charge that domestic mills have misled Commerce in their objections, overstating the current availability of domestic slab and the capacity to […]
CSN continues to export slabs and coated steels to the United States, but tariffs and quotas make the market a challenge for the Brazilian steelmaker, reports a Steel Market Update source. Earlier this year, Steel Dynamics bought the CSN conversion mill in Terre Haute, Ind. At the time of the purchase, the company had two […]
The percentage of manufacturing companies and service centers reporting distributor spot prices as weakening is nearing the SMU level of capitulation. Capitulation is the point at which steel distributors are panicking and dumping what is perceived as high-priced steel into the spot market at ever lower prices. The process feeds on itself and the distributors […]
A molten steel spill at the AK Steel Ford River Rouge complex required containment by firefighters early Monday morning. “At about 2 a.m. today (Sept. 17), Dearborn Works experienced a small spill of iron from a rail car. There were no injuries and no impact to customers,” said a spokesperson for AK Steel. Dearborn Deputy […]
I had originally intended to add to the Methodologies article I wrote last week, but I have decided there is not enough new relevant information to add to what was already written. I expect that we will re-visit this subject as time goes by and as questions are asked about the various indexes. Our first […]
AK Steel co-hosted Steel Market Update’s first Steel 201: Introduction to Advanced High Strength & Other New Steels workshop this week at the $36 million AK Research and Innovation Center opened last year in Middletown, Ohio. The beautiful 135,000-square-foot facility made AK Steel’s commitment to R&D readily apparent to the 40+ students and staff assembled […]
I am in Middletown, Ohio, having spent the day at AK Steel’s Research and Innovation Center as part of our new Steel 201 training workshop. The facility is impressive both in physical beauty as well as the operations and people working there. Our class is being held in an auditorium that seats about 70 people […]
Written by John Packard, President & CEO, Steel Market Update When I was selling steel for a domestic mill (Winner Steel, now called NLMK Sharon), there was always cause for concern when steel buyers would contact me and reference a price from a trade publication that I knew to be “out of date” with the […]
Another busy week for me as our first Steel 201: Introduction to Advanced High Strength & Other New Steels workshop will be conducted at AK Steel on Tuesday and Wednesday (Monday is a travel day for me). We have a sold-out workshop, we have some new instructors and for the first time we will be […]
We sold out our first Steel 201 workshop which will be held next week at AK Steel in Middletown, Ohio. I am excited to conduct this workshop with the AK Steel team. It is the first time we have visited their Research and Innovation Center (RIC) and the fully integrated Middletown steel mill. Thank you […]
I have already been to Atlanta and now I am on my way to Minnesota for my introduction to my responsibilities as a trustee for Hamline University, the college I graduated from many years ago. On Saturday, I will jet back to Atlanta to join the SMU team as we finish preparations and get the […]
We are now one week away from the start of the 2018 SMU Steel Summit Conference. We are continuing to accept registrations, and we expect the conference to be completely full when we kick off at 1 p.m. on Monday, Aug. 27. If you would like to register, you can do so on our website […]