As widely expected, Nucor was the first to announce another $40 increase in flat rolled steel prices Wednesday, followed closely by ArcelorMittal USA, NLMK USA, California Steel Industries, USS-POSCO Industries and Algoma Steel. This represents the fifth round of price hikes by the major mills since late October totaling around $190 per ton. In a […]
Last week U.S. Steel and ArcelorMittal USA announced a third round of price increases. This week Nucor and Algoma followed suit. Not every mill has followed their lead, however. As a result, there are still some holes out there. Where, why and from whom are the questions of the day, which we can’t answer at […]
Nucor’s Sheet Mill Group and Canada’s Algoma Steel have matched last week’s price increases by U.S. Steel and ArcelorMittal USA. Nucor informed customers on Monday that is has increased based prices on new orders of hot rolled, cold rolled and galvanized steel by a minimum of $30 per ton ($1.50/cwt). LIkewise, Algoma notified its flat […]
A strike by 3,200 Teamster union employees at Canadian National Railway is causing disruption in both Canada and the U.S. Now in its sixth day, with no end in sight, a shortage of propane is imminent for Ontario and Quebec as well as delays to shipping across the manufacturing industry. CN transports more than CAD […]
Despite the Oct. 28 plate price increase announcement out of Evraz ($40/ton), plate prices continue to be under pressure. [Please note: This article was completed just prior to the Nucor $40 price increase announcement, which was made on plate products at 4 p.m. this afternoon.] A large plate buyer told SMU they had just received […]
Four more mills–Nucor, U.S. Steel, USS-Posco and Algoma Steel–raised prices on their flat rolled products by $40 per ton ($2/cwt) Friday, following on similar announcements by ArcelorMittal and NLMK USA the day before. The mills are hoping to reverse the slide that has taken the benchmark price of hot rolled steel from more than $700 […]
The Canadian Steel Producers Association has appointed Algoma Steel CEO Michael McQuade as Chairman of the Board of Directors. McQuade was appointed CEO of Algoma in March 2019. Prior to assuming the leadership role at Algoma, McQuade accumulated more than 35 years of experience at Stelco Inc. He moved through a variety of roles at […]
Electric arc furnace minimills may have a cost advantage in steel production today, but there are still 19 traditional blast furnaces going strong in the United States. Blast furnaces dominate about three-fourths of global steelmaking, but only three steel producers in the U.S. currently are using BF or basic oxygen furnace technology: U.S. Steel, ArcelorMittal […]
North America’s plate mills have announced their second round of price increases in less than three weeks, seeking another $40 per ton ($2/cwt). Nucor’s Plate Mill Group was the first to inform customers of the change on Friday, prompting similar announcements by most other mills on Monday. SSAB Americas advised customers it is increasing transaction […]
Nearly 1,000 executives are registered with just two weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our 9th […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
The American Iron and Steel Institute’s (AISI) Board of Directors today welcomed two new directors — Michael McQuade, Algoma Steel Chief Executive Officer, and Ed Ramsey, Regional President-North America for Harsco Metals and Minerals. “Michael McQuade and Ed Ramsey are tremendous ambassadors for the steel industry, and I am excited to welcome them to the […]
The steel industry is on the brink of a capacity boom as mills reinvest their record profits in dozens of mill additions and upgrades. What will that mean for steel supply and prices in the coming years? Who better to answer that question than the chief executives from four of North America’s leading steel producers—JSW […]
The steel industry is on the brink of a capacity boom as mills reinvest their record profits in dozens of mill additions and upgrades. What will that mean for steel supply and prices in the coming years? Who better to answer that question than the chief executives from four of North America’s leading steel producers—JSW […]
Algoma Steel announced today the appointment of Michael McQuade as Chief Executive Officer. McQuade will succeed Kaylan Ghosh who served as CEO prior to and during the restructuring of Algoma. “Mike has the skills and experience to lead Algoma in the next stage of its evolution as a leading Canadian steel company and globally competitive […]
With no end in sight for U.S.-imposed steel tariffs, United Steelworkers in Canada urge the federal government to keep safeguards in place to guard against foreign steel imports. “Our members themselves are appearing this month before the Canadian International Trade Tribunal (CITT) to make the case for extending safeguard measures beyond the original 200-day period […]
U.S. tariffs on steel imports from Canada continue to put pressure on Canadian producers while goverment officials seek an ending to the trade measures. Algoma Steel, which recently emerged from bankruptcy protection, is one of the vulnerable steel producers affected by Section 232. The second largest mill in Canada is expected to receive up to […]
Tenaris, a global manufacturer and distributor of energy tubular products, has begun the second phase of its service center expansion in Midland, Texas. The project will add pipe and tube storage and service capabilities for customers in the Permian basin and other key shale plays across the U.S. Phase 2 consists of several stages of […]
A couple of comments regarding possible price increase announcements as we go into first-quarter 2019 made today as I canvassed the flat rolled and plate steel markets pricing. “Mills appear to be much more sanguine on prices than I’ve seen in a while. I’m hearing them say that once all of the mills are done […]
Canada’s Algoma Steel Inc. has finally fully emerged from Companies’ Creditors Arrangement Act (CCAA) protection after three long years. The company announced on Friday that it had successfully acquired all the remaining assets of Essar Steel Algoma and is ready to tackle the market as a financially stable entity. “When we take a look around […]
Reporting a profitable third quarter, Essar Steel Algoma is moving closer to emergence from bankruptcy. The Canadian steel producer announced income from operations for the three-month period ending Sept. 30 of C$107.9 million, up from income of C$74.3 million in the same period of 2017. Algoma’s steel shipments rose 6.3 percent year-over-year to 620,137 tons. […]
U.S. Section 232 tariffs have cost Canada’s Essar Steel Algoma about $55 million from June through August, according to Brian Denega, court appointed monitor overseeing the Algoma restructuring. In addition, the company is required to post a tariff surety bond with U.S. Customs and Border Protection in the amount of $5.25 million. “The U.S. Customs […]
My life these days is consumed by our upcoming SMU Steel Summit Conference, our brand-new Steel 201: Introduction to Advanced High Strength & Other New Steels workshop and the next SMU Steel 101: Introduction to Steel Making & Market Fundamentals workshop, as well as writing articles and trying to stay on top of the flat […]
United Steelworkers at Algoma Steel have ratified a tentative agreement with Algoma’s secured creditors. Members of USW Local 2251 and salaried workers in USW Local 2724 voted to accept the agreement that includes no concessions and some gains, said union leaders. Algoma, formerly Essar Steel Algoma, has been in Companies’ Creditors Arrangement Act proceedings since […]
Beginning in July 2018, Steel Market Update has been recruiting flat rolled and plate steel service centers to participate in our monthly analysis. Our goal is to produce a quality data stream out of the service centers, which can help answer questions regarding future demand from the steel distributors. We provided data sources with our […]