I have been very pleased with the response we have received for the SMU Steel Summit Conference agenda, which we rolled out earlier this week. I have received multiple comments about the quality of the program and speakers. Brian Robbins of MidWest Materials told me, “It’s good!!!! If not exhausting… I am thinking of bringing […]
As markets transition from one phase to another, the process can sometimes be “messy” until there is a clear direction as momentum shifts. Many steel buyers reported a higher sense of confidence that the market has “turned the corner” and will move higher from here. However, the feelings are not universally shared as some buyers […]
Steel Market Update did not see a huge move in flat rolled steel prices this week. Our benchmark hot rolled average rose a modest $5 per ton, but is still below $700 per ton and a long way away from the $730 per ton suggested by ArcelorMittal USA in their announcement email. The other flat […]
A fire at ArcelorMittal Burns Harbor last night brought firefighters to the mill for the second time this month. No injuries were reported and the fire was contained by the Burns Harbor Fire Department. ArcelorMittal USA spokeswoman Mary Beth Holford stated in an email: “Around 9 p.m. last evening at ArcelorMittal Burns Harbor, casting conditions allowed […]
On Wednesday morning, Nucor announced a $40 per ton ($2.00/cwt) “minimum” price increase on flat rolled steel products. The mill advised their customers the increase was to be “effective immediately.” This is the second price increase announcement out of Nucor in less than 30 days. On Jan. 28, 2019, Nucor announced a $40 per ton […]
As the domestic steel mills started raising flat rolled prices on Wednesday, Steel Market Update reached out to a number of steel buyers in order to get their reaction to the news. We discussed the $40 per ton increases announced by Nucor, NLMK USA, U.S. Steel, California Steel and USS/POSCO along with ArcelorMittal USA’s new […]
California Steel Industries (CSI) raised the price of its hot rolled, P&O, cold rolled and galvanized sheet products by $40 per ton ($2/cwt) today. CSI has opened its flat rolled order book for April shipments. CSI’s change follows on a similar $40 increase it announced on Jan. 21, just one month ago. All pricing is […]
ArcelorMittal announced minimum prices for its flat rolled products today in response to improved demand. “Over the past couple of weeks, we have experienced a significant increase in order entry for sheet products,” the mill said in a letter to customers. Effective immediately, the minimum price for new orders of hot rolled sheet from ArcelorMittal […]
The U.S. Department of Commerce released new license data through the 19th of February and the trend for imports is at 2.6 million net tons (+/- 200,000 tons). Semi-finished steels continue to be the largest single product imported, with most being slabs heading to mills like California Steel, NLMK USA, JSW USA and ArcelorMittal Mobile. […]
A strong economy and record profits are stimulating expansion in the U.S. steel industry. Often crediting President Trump for “leveling the playing field” with steel imports, companies like U.S. Steel and Nucor are taking the opportunity to reinvest their windfall in new and upgraded facilities. Adding capacity in a world that is struggling with steel […]
The recent mining disaster in Vale prompted a flurry of concern from analysts on the Cleveland Cliffs earnings call. Cleveland Cliff’s CEO Lourenco Goncalves said on Friday that the impact from the Vale mining disaster has yet to be properly quantified. Estimates of 11 million tons of capacity loss are likely to be double that, […]
Section 232 tariffs propelled ArcelorMittal to its best results in nearly 10 years, the company reported to analysts and investors today. The 25 percent tariffs on steel imports helped drive up steel prices, adding to company revenue from its U.S. assets. Average steel selling price in North America rose 15 percent year-over-year. Net income for […]
ArcelorMittal Burns Harbor called firefighters to help control a towering blaze from a coke oven battery late Tuesday night. ArcelorMittal spokeswoman Mary Beth Holford said the plant “experienced a high voltage power interruption for a short duration” about 10:05 p.m. Tuesday. The outage triggered an emergency flare system that burned off excess coke oven gas, […]
Steel Market Update has confirmed that ArcelorMittal joined the other major mills in raising flat rolled steel prices this week. ArcelorMittal notified its commercial team that it is raising base prices a minimum of $40 per ton on all light flat rolled sheet products, effective immediately. The increase applies to all new and unacknowledged orders […]
Steel Market Update has confirmed that ArcelorMittal joined the other major mills in raising flat rolled steel prices this week. ArcelorMittal notified its commercial team that it is raising base prices a minimum of $40 per ton on all light flat rolled sheet products, effective immediately. The increase applies to all new and unacknowledged orders […]
We have seen Nucor, U.S. Steel, NLMK USA and ArcelorMittal move spot flat rolled base prices up $40 per ton effective immediately. That is what was announced this week. The reality is not yet clear, and the prices referenced in tonight’s pricing assessment only marginally take the increases into account as negotiations are very early […]
Major domestic steelmakers have announced a $40 per ton ($2/cwt) hike in the price of hot rolled, cold rolled and galvanized steel products, fueling the debate over whether current market conditions can support an increase or if the latest announcement is bound to flop like the last one in October. West Coast mills California Steel […]
What an interesting week it has been, and it’s only Tuesday. As previous articles have already stated, Nucor, U.S. Steel, NLMK USA and ArcelorMittal (verbally) have joined California Steel and USS/POSCO by announcing $40 per ton price increases on flat rolled. For those of you who are new to the industry or to our newsletter, […]
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 […]
ArcelorMittal announced it will take over as managing partner for Hibbing Taconite effective Aug. 12. The iron ore mine and pellet processing facility began production in 1976 and is currently managed by Cleveland Cliffs. The operation is jointly owned by ArcelorMittal, Cleveland Cliffs and U.S. Steel, holding shares of 62.4 percent, 23 percent and 14.7 […]
So, we have our service center inventories at 2.5 months of supply, down slightly from the 2.6 months we got from our distributor data suppliers the previous month. This is not from our survey; we decided to put that data aside as it was suspect – it had both buyers and sellers contributing to the […]
GFG Alliance’s purchase of Keystone Consolidated Industries this week was the latest move by British industrialist Sanjeev Gupta to become a leading producer of both long and flat steel products in the United States. GFG Alliance has been buying up steel, aluminum and energy assets around the world. On Monday, its Liberty Steel USA division […]
Andy Gross is placing a big bet on his company and on a new community—a wager he is confident will pay off. The president of Alliance Steel is making a $19 million investment to move his service center operation some 40 miles east from Chicago’s south side to Gary, Ind. He hopes to be operational […]
United Steelworkers have ratified a new four-year contract with ArcelorMittal three months after their last contract expired. The new labor agreement raises wages by about 14 percent over the next four years while improving benefits, retirement provisions and contract language. The agreement covers roughly 15,000 hourly workers at 14 facilities in Illinois, Indiana, Ohio, Pennsylvania […]
United Steelworkers voted overwhelmingly to ratify a new four-year contract with U.S. Steel. Workers will receive a 14 percent raise over the life of the contract, while keeping affordable health care coverage and gaining stronger retirement benefits. “In 2015, workers recognized that the steel industry was struggling and agreed to make sacrifices so that U.S. […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
ArcelorMittal expects no disruption in service as a result of a minor fire at its Indiana Harbor 4 Steel Producing (4SP) operation on Monday afternoon. One employee was treated for minor burns following a fire that resulted when slag was dumped onto an area containing water. “Indiana Harbor 4SP remains in production, and we do […]
ArcelorMittal expects no disruption in service as a result of a minor fire at its Indiana Harbor 4 Steel Producing (4SP) operation on Monday afternoon. One employee was treated for minor burns following a fire that resulted when slag was dumped onto an area containing water. “Indiana Harbor 4SP remains in production, and we do […]