On Wednesday, Jan. 3, 2018, Nucor announced a $40 per ton price increase on all spot flat rolled products produced at their steel mills. Their announcement was quickly followed by similar announcements on hot rolled, cold rolled and coated steels (galvanized and Galvalume) by U.S. Steel, NLMK USA and AK Steel. On Friday of this […]
Following on the $40 per ton price hikes by most domestic mills earlier this week, ArcelorMittal USA announced the following minimum prices on its carbon steel sheet products today: hot rolled, $720/ton; cold rolled, $900/ton; and hot-dipped galvanized, $900/ton. The new prices are effective immediately on all new and unconfirmed orders with ArcelorMittal USA and […]
The fire at AK Steel helped some buyers to accept the price levels being suggested by the domestic mills. Steel Market Update heard from a number of sources that offer prices were in many cases close to the levels suggested by ArcelorMittal USA in their most recent price announcement: $720 per ton hot rolled ($36.00/cwt) […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
The ArcelorMittal Georgetown wire rod steelworks will get new life under Liberty House, part of the global metals and energy group GFG Alliance, which announced on Monday it has completed the acquisition of Georgetown. The mill includes an electric arc furnace with a capacity of 540,090 metric tons per year and a 680,000-ton annual capacity […]
ArcelorMittal’s new headquarters in Luxembourg will be a testament to the strength and beauty of steel. The primarily steel and glass structure designed by Wilmotte & Associés will “showcase the diverse benefits of steel over other building materials,” said ArcelorMittal in a press release. Approximately 5,000 to 7,000 metric tons of steel produced in Luxembourg […]
A steelworker at ArcelorMittal Indiana Harbor died early on Monday after a golf cart-style buggy he was driving went under a stationary scrap trailer. Alfred Candena, 61, a line operator, was working with coworkers to move a strip of steel broken off from a weld on the trailer. “After initial response by coworkers, he was […]
Flat rolled steel prices jumped this week as buyers and sellers of steel react to the latest round of price increase announcements. Last week, there was a $50 per ton increase announced on steel plate and then later in the week the sheet mills announced a $30 per ton price increase on hot rolled, cold […]
With mill order books extending into February on some products, most domestic steel producers have announced price increases. Steel Market Update sees steel prices moving higher for the next 30-60 days. The steel plate mills were the first to go last week, adding $50 per ton ($2.50/cwt) to the base price of plate steel. SSAB […]
AK Steel was the latest mill to climb on the price-hike bandwagon with its announcement yesterday of a $30 per ton increase on spot market base prices for all carbon flat-rolled steel product, effective immediately on new orders. AK Steel’s move follows on similar announcements in the past several days from other leading steelmakers, including […]
USS-POSCO is the latest flat roll mill to announce a price increase. In a letter to customers today, the mill said that, effective immediately, it is raising base prices on all sheet products by a minimum of the following: Hot Rolled P&O, $30 per net ton; Cold Rolled, $30 per net ton; and Galvanized, $30.00 […]
On the heels of its $50 per ton increase on carbon plate prices on Wednesday, Nucor announced an additional $30 per ton increase on hot rolled, cold rolled and galvanized steel products on Friday, effective immediately. U.S. Steel, NLMK USA and California Steel matched the Nucor sheet price increase of $30 per ton. ArcelorMittal USA, […]
ArcelorMittal, California Steel Industries, NLMK USA and U.S. Steel all announced $30 per ton price increases on Friday. Their announcements follow on a similar hike by Nucor earlier this week. In a letter to customers, U.S. Steel’s North American Flat-Rolled Sales Organization stated that, effective immediately, it was increasing base pricing for all new flat-rolled […]
On the heels of Wednesday’s $50 per ton increase on carbon plate prices, Nucor today announced an additional $30 per ton increase on hot rolled, cold rolled and galvanized steel products. In a letter to customers, Nucor’s Sheet Mill Group said the price increases are effective immediately on new and unconfirmed orders. SSAB Americas and […]
The Commerce Department’s Vietnam circumvention ruling on Tuesday represents a departure in the U.S. government’s interpretation of what constitutes adding “minor or insignificant” value to a product. This is a key issue in determining whether importation of a product from a country not directly subject to a trade remedy amounts to a “circumvention” of existing […]
In separate notices to customers today, SSAB Americas, Nucor and ArcelorMittal USA announced their intentions to raise steel plate transaction prices by $50 per ton. This new announcement means the domestic plate producers have raised prices by $130 per ton ($6.50/cwt) over the past 30 days. SSAB Americas said it is raising transaction prices by […]
Galvanized steel prices are on the way up for customers of Steel Dynamics, which was the latest mill to announce an increase in its coating extras due to the high price of zinc, which traded at nearly $1.43 per pound yesterday. SDI’s new extras schedule is effective on orders acknowledged for delivery beginning Jan. 1. […]
In preliminary rulings today, the U.S. Department of Commerce announced that corrosion-resistant steel (CORE) and certain cold-rolled flat products imported from Vietnam, produced from substrate originating in China, are circumventing existing antidumping and countervailing duty (AD/CVD) orders. As a result, Commerce will instruct Customs and Border Protection (CBP) to begin collecting cash deposits on the […]
In preliminary rulings today, the U.S. Department of Commerce announced that corrosion-resistant steel (CORE) and certain cold-rolled flat products imported from Vietnam, produced from substrate originating in China, are circumventing existing antidumping and countervailing duty (AD/CVD) orders. As a result, Commerce will instruct Customs and Border Protection (CBP) to begin collecting cash deposits on the […]
Flat rolled and plate steel prices are all over the place this week. We are seeing a distinct difference in pricing from those mills who still have November and December tonnage compared to those whose lead times are into January and beyond. Hot roll appears to be the strongest product with virtually all of our […]
Cold-drawn mechanical tubing imported from China, Germany, India, Italy, Korea and Switzerland was determined by Commerce to be sold below fair value. In its Nov. 16 preliminary antidumping determination, Commerce assigned dumping margins ranging between 5.10 percent and 186.89 percent. Commerce also found that “critical circumstances” exist with respect to Dalmine S.p.A. and Metalfer S.p.A. […]
Nucor became the first sheet mill to step out and attempt to nudge hot rolled, cold rolled and galvanized steel prices higher. On Wednesday afternoon the Nucor Sheet Group announced a new $30 per ton ($1.50/cwt) price increase to be “effective immediately.” The Nucor announcement was quickly matched by NLMK USA who put a letter […]
Over the past few days, all of the domestic plate mills have announced a $40 per ton ($2.00/cwt) price increase on plate products. We have seen announcements out of the Nucor Plate Group, ArcelorMittal USA commercial plate group, Evraz and SSAB. SSAB was the last to announce with their letter dated Nov. 16, 2017. In […]
Flat rolled steel prices were mixed this past week. Benchmark hot rolled continues to be one of the better performing of the group. Our HRC average was up $5 per ton this week. Cold rolled was also up, galvanized was sideways and Galvalume dropped $30 per ton. Plate prices on a delivered basis were up […]
ArcelorMittal reported its best third-quarter shipment performance since 2008. Shipments of 21.7 million tons were 1.0 percent higher than second-quarter due to a 1.2 percent increase in Brazil shipments, a 4.3 percent increase in NAFTA shipments, and a 3.2 percent increase from the ACIS segment. Shipments from the three segments offset a decline of 3.3 […]
Flat rolled steel prices were mixed this week. There was no clear-cut direction being set, although the expectation is for prices to rise once lead times go into January. For that matter, we did hear from some steel buyers who placed December HRC orders for $600 per ton and at the same time placed January […]
A couple of weeks ago, ArcelorMittal USA announced price increases taking flat rolled steel base prices on hot rolled to $625 per ton and $41.25/cwt base on cold rolled and galvanized. We have yet to see spot prices out of the domestic steel mills reach the prices suggested by AMUSA. The rest of the industry […]
On Monday, SSAB sent a letter to customers advising of the company’s intention to raise spot transaction prices by a minimum of $40 per ton ($2.00/cwt) effective immediately. The increase covers all “…As-Rolled Mill Plate, Cut-to-Length Plate >72”, Hot Rolled Coils >72”, as well as Normalized and Quenched & Tempered Plate.” SSAB also advised that […]
ArcelorMittal Indiana Harbor will get a $100 million upgrade over the next year. The investment is part of $276 million in capital spending the steelmaker plans for it U.S. operations next year. Work is set to begin on Indiana Harbor’s continuous anneal line, No. 2 coating line and cold mill complex, said Indiana Harbor General […]
According to the buyers and sellers of flat rolled steel, the domestic steel mills are willing to negotiate spot steel prices. The percentages of those reporting the mills as willing to negotiate has shrunk, but continues to be well above 50 percent. This is a bit of a surprise considering the price announcements made in […]