As we enter the New Year registrations are starting to accelerate for the 32nd annual Tampa Steel Conference which will be held virtually on February 2nd of this year. We currently have 150 registrations, and we expect 300-500 attendees once the conference opens. Here are the companies registered. Those with an asterisk (*) next to […]
Steel Market Update is pleased to announce that veteran steel reporter Michael Cowden has become the newest member of the Steel Market Update team. Michael has joined SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is well respected within […]
As we enter the New Year, registrations are starting to accelerate for the 32nd annual Tampa Steel Conference to be held virtually on Feb. 2. We currently have close to 200 registrations, and we expect 400-500 attendees once the conference opens. Here are the companies registered. Those with an asterisk (*) next to their name means they […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
ArcelorMittal North America will invest $18.5 million (CAD $24 million) to add capability to ArcelorMittal Dofasco’s No. 5 Hot-Dipped Galvanizing Line. The investment will allow Dofasco to add Aluminum Silicon (Alusi®) to its patented Usibor® Press Hardenable Steel for use in automotive structural and safety components. “The addition of Alusi® Coated Usibor® capacity at ArcelorMittal […]
Among steelmaking raw materials, the prices of iron ore, pig iron, scrap, zinc and aluminum continue to see large gains in December compared to months prior, up as much as 65 percent year over year. Iron ore, pig iron and scrap prices have seen significant increases compared to the late summer months. Coking coal prices […]
This report is an analysis of Bureau of Labor Statistics data and is intended to provide subscribers with a view of the competitive position of sheet steel, aluminum, plastic and wood. The analysis includes some downstream products and a comparison of truck and rail transportation. On Dec. 10, the BLS released its series of Producer […]
Registration is in full swing for the 2021 Tampa Steel Conference, which will be held virtually on Feb. 2, 2021. Here are just a few of the companies already registered to attend (those with an asterisk * mean more than one person is registered for the event): All Metals*, ArcelorMittal Dofasco*, Bank of America Merrill […]
Majestic Steel has completed the acquisition of P&S Metals and Supply, a Las Vegas-based steel service center and processor. The addition of P&S will extend Majestic’s footprint in Nevada and the western United States. “We are happy to welcome P&S Metals and Supply to the Majestic family,” said Todd Leebow, Majestic President and CEO. “P&S […]
Contractors Steel Company, a Midwest-based service center operated under UPG Enterprises, has acquired family-owned Borrmann Metal Center, a light structural and specialty metal service center based in the Los Angeles area. Borrmann has two California locations with more than 200,000 square feet of warehouse space and a fleet of 15 trucks. Borrmann offers a wide […]
Olympic Steel has acquired the assets of Action Stainless & Alloys, Inc., adding the Dallas, Texas-based distributor to its Specialty Metals business segment. Action Stainless & Alloys is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing and pipe and offers a range of processing, including plasma, laser and […]
Panelists in a webinar presented by the Alliance for American Manufacturing on Wednesday said an infrastructure bill and sensible trade policy should be top priorities for the new administration. Entitled “How Can President-Elect Joe Biden Build Back Better,” panel members discussed what the Biden administration will need to do to rebuild the economy. Rep. John Garamendi (D-CA) […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. During the […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. The CME […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. So far […]
Steel prices continued to climb in November on strong demand and tight steel supplies. Steel Market Update’s hot rolled price index reached $770 per ton by the end of November, up 10 percent from the beginning of the month. The SMU Pricing Momentum Indicator remained at Higher, indicating prices are expected to rise further over […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The transition to a new administration is now strongly under way. Tomorrow, the president-elect is set to name additional members of his economic team, including the roster of international trade officials. The time for speculation is over since […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: As the 2020 election approaches its final chapters, the legal system has been front-page news. No less important is the rule of law in international trade matters. The Trump campaign and its allies have approached the courts to […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: At the end of 2020, rather than looking back I’d like to look forward. Anyone care to join me? We can anticipate some major changes in government and the economy. The Biden-Harris administration takes over in exactly one […]
Much has changed since Flack Global Metals announced its plan a year ago to build a new painting and processing center adjacent to Big River Steel in Osceola, Ark. Minority shareholder U.S. Steel plans to buy the rest of BRS. Competitor Nucor got into the prepaint business with its purchase of Precoat Metals’ nearby Armorel, […]
Expect another two months of uneasiness and confusion on the future of the economy, says Armada Corporate Intelligence Managing Director and Economist Chris Kuehl. Although a recovery is under way, its sustainability will depend on consumer attitude, potential lockdowns and the speed of a vaccine. In a FABTECH webinar this week, The New Global Normal: […]
Among steelmaking raw materials, the prices of pig iron, scrap, zinc and aluminum have seen big gains in the past three months. Pig iron and scrap prices have seen significant increases compared to the late summer months. Iron ore and coking coal prices had widened through mid-September but have since declined, with coking coal prices […]
My “final thoughts” provide me an opportunity to give my opinions on a wide range of topics. Some are directly steel related and some are not. The question we are all asking ourselves today is what will a Biden administration mean for business? Here are some thoughts I picked up from my reading over the […]
By CRU Analyst Estelle Tran, from CRU’s Global Steel Trade Service The U.S. market is at a unique point where steel buyers could be convinced to buy imports because of extreme supply tightness. With about 7Mt of blast furnace capacity remaining idled in the U.S. and Canada, sheet mills in operation are effectively running at […]
The J.P. Morgan Global Manufacturing PMI reached a 29-month high in October, posting a score of 53.0. Manufacturing output expanded across consumer, intermediate and investment goods industries with the weakest sector consumer goods. Twenty of 26 countries in the survey saw manufacturing activity increase, however activity in Japan, Greece, Malaysia, Indonesia and Russia contracted last […]
Ryerson Holding Corp. reported incremental improvement in third-quarter 2020. Ryerson’s Q3 revenue increased 7.7 percent to $832 million, but the service center company posted a net loss of $39.9 million, which included a $52 million charge related to pension liabilities and 17.1 million in expenses related to the refinance of 2022 notes. Adjusted net income was […]
Revenues from construction and toll processing exceeded expectations in the third quarter, offsetting some of the weakness in aerospace and energy, reported Reliance Steel & Aluminum Co. in its quarterly conference call today. Touting a record gross profit margin of 32.4 percent, executives of the industry’s largest service center organization told analysts and investors they […]
With early voting underway, record breaking mail-in ballots, and a final voting date a mere 14 days away, it is safe to say that much is riding on the upcoming U.S. presidential election. With two candidates who share little common ground in a bitter election battle, it’s clear that a shift in presidential administration will […]
By CRU Multi-Commodity Analysts Zanna Aleksahhina and Will Young Over the summer and into Q3 2020 commodity prices staged a remarkable recovery from Q2 lows and in October many prices are comfortably above where they started the year. Given that the major economies are still struggling to control the spread of Covid-19, underlying demand is […]