Thyssenkrupp and Tata Steel have signed a preliminary agreement to merge their European steel activities in a 50/50 joint venture. The new entity will be named Thyssenkrupp Tata Steel and will be based in the Netherlands. The new company will have a workforce of about 48,000 at 34 locations. Major hubs of operations will be […]
The U.S. Department of Commerce announced its affirmative preliminary determinations in the countervailing duty investigations of imports of cold-drawn mechanical tubing from China and India. Commerce determined exporters of cold-drawn mechanical tubing from China and India received countervailable subsidies of 33.31 to 35.69 percent, and 3.04 percent and 8.09 percent, respectively. Commerce will instruct U.S. […]
Zinc is once again trading above $1.40 per pound ($1.42 as of 3:30 PM ET) and the smaller steel mills and converters are wondering why U.S. Steel, ArcelorMittal USA and Nucor haven’t made the move to higher zinc coating extras on galvanized steel? We have seen four mills make changes on their “spot” new orders: […]
Despite recent price increase announcements from major domestic mills and imports that are trending lower, wholesalers and distributors who sell galvanized steel products to the HVAC market don’t expect much change in lead times or pricing until there’s some resolution to the Section 232 and Vietnam circumvention trade actions pending in Washington. In the monthly […]
Weakening federal vehicle fuel economy standards would not relieve the auto industry of burdensome regulation, but rather would hurt job growth, as well as the environment, maintains the BlueGreen Alliance (BGA), a coalition of American labor unions and environmental organizations whose mission is to “work together to solve today’s environmental challenges in ways that create […]
ArcelorMittal is not expecting a big bump in business anytime soon due to the hurricane damage in Texas and the Southeast. “That will take a while to pass through,” said Wendell Carter, vice president and general manager of the steelmaker’s Indiana Harbor mill. Carter responded to questions during a media tour of the East Chicago, […]
Flat rolled steel average prices are once again “mixed” as some items have dropped, some have remained the same and some rose last week compared to the previous week. We received numbers from Platts, SteelBenchmarker and our own steel index late last week and we found hot rolled down $5 on SMU, up $7 on […]
ArcelorMittal is not expecting a big bump in business anytime soon due to the hurricane damage in Texas and the Southeast. “That will take a while to pass through,” said Wendell Carter, vice president and general manager of the steelmaker’s Indiana Harbor mill. Carter responded to questions during a media tour of the East Chicago, […]
We will begin our mid-September flat rolled steel market trends analysis first thing on Monday morning. Invitations to participate will go out at 8 AM ET tomorrow morning. We currently send out approximately 650 invitations. Note: We are correcting the galvanized comparison of coating extras as Nucor has not yet made a change to the […]
ArcelorMittal is on a mission to make sure that steel remains the material of choice for a modern world. The steelmaker invited state and local dignitaries, staff and members of the media to an open house on Wednesday to commemorate the 50th anniversary of the ArcelorMittal Global Research and Development Center in East Chicago, Ind. […]
Zinc prices have been rising and we are starting to see updated galvanized price extras from the mills. Steel Market Update has received updated galvanized coating extras from Nucor, USS Posco (UPI), NLMK, California Steel Industries (CSI), and AK Steel. We updated the comparison tables on our website and have included a copy of the […]
Ferrous scrap prices were expected to rise by $20 to $30 per gross ton once the September negotiations began. By Thursday afternoon (today), we were learning that steel mills are suddenly able to buy at sideways numbers. We understand North Star BlueScope was able to buy September at the same prices as August. Other sources […]
Thyssenkrupp finalized the sale of Brazilian steel mill CSA Cia Siderúrgica do Atlántico to Ternium this week. The sale takes effect retroactively from Sept. 30, 2016. The $1.3 billion deal was hammered out in February. Completion of the transaction ends a long process for Thyssenkrupp to divest all of its Steel America assets. In 2014, […]
The Commerce Department has extended the deadline for determinations in the anti-circumvention investigation of corrosion-resistant steel from China to Feb. 15, 2018. On Nov. 14, 2016, the anti-circumvention case was initiated on CORE steel products from the People’s Republic of China in response to a request from steel companies ArcelorMittal USA, Nucor, U.S. Steel, AK […]
A subsidiary of Canadian steel processor and Nova Steel is looking for a location in the United States to build a pipe and tube manufacturing plant. Cleveland, Ohio, hopes to entice Nova Tube and Steel LLC with a prime spot along Interstate 77 near ArcelorMittal and access to the Cuyahoga River and the Great Lakes. […]
Tomorrow, Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With over 650 steel and manufacturing executives registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel Summit Conference. This is what the fuss […]
ArcelorMittal’s three plate facilities in the United States—Burns Harbor in Burns Harbor, Ind., and Coatesville and Conshohocken in Pennsylvania—have each achieved DNV-GL certification, which will allow the company to expand business opportunities domestically and internationally for its plate products. DNV-GL (Germanischer Lloyd) is a classification society that sets rules and standards for industries, especially maritime-related […]
The number of U.S.-based flat rolled steel mills announcing price increases on hot rolled, cold rolled, galvanized and Galvalume has reached six. On Tuesday of this week, Nucor Sheet Mill Group became the first flat rolled steel mill to raise transaction pricing on spot flat rolled steel. The Nucor increase was for a “minimum” of […]
Four flat rolled steel mills, Nucor, NLMK USA, California Steel Industries (CSI) and ArcelorMittal USA, announced spot price increases today on all flat rolled steels produced at each mill. The Nucor Sheet Mill Group, which handles flat rolled steel products, announced a minimum of $30 per ton ($1.50/cwt) price increase on hot rolled, cold rolled […]
The following steel mills are registered to attend this year’s SMU Steel Summit Conference at the end of this month: ArcelorMittal Mexico, ArcelorMittal Dofasco, ArcelorMittal/Nippon Sumitomo Calvert, Ternium USA, Ternium Mexico, NLMK USA, Nucor, Nucor Mexico, Nucor Canada, Kandil Steel (Egypt), California Steel Industries, AK Steel, CSN USA, North Star BlueScope, Steel Dynamics Inc., The […]
As was mentioned earlier in tonight’s newsletter, our 2017 SMU Steel Summit Conference will be a sell-out this year and the question really is what day this week will we close registrations? I am both surprised and humbled by the response we have gotten to this year’s event. Our team works very hard to put […]
Like in the United States, steelmakers in the European Union are using their trade laws to fight back against steel imports that are unfairly subsidized by the governments in China and other countries. On Aug. 9, the European Union imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels. The eight-month […]
Like in the United States, steelmakers in the European Union are using their trade laws to fight back against steel imports that are unfairly subsidized by the governments in China and other countries. On Aug. 9, the European Union imposed provisional import duties of up to 28.5 percent on certain Chinese corrosion-resistant steels. The eight-month […]
I was advised late on Friday afternoon that we should expect a Nucor price increase early next week. With scrap prices firming $10 to $30 per ton our expectation is for the increase to be $25-$30 per ton. Then the question will be will the industry support another increase after tepid (at best) support for […]
Despite getting pressure to adjust our SMU Price Momentum Indicator due to uncertainty associated with the Section 232 investigation and the lack of a recommendation to date, along with small signs of a need by one or two steel mills for orders on galvanized, SMU is continuing to reference flat rolled steel prices as moving […]
Ferrous scrap prices are poised to rise in the NAFTA region for several reasons, says John Harris, CEO of Aaristic Services, Inc., and former director of Raw Materials for ArcelorMittal. Harris is part of a panel that will take a deep dive on commodities during the Steel Market Update Steel Summit Conference Aug. 28-30 in […]
On Monday, August 28, the steel event of the year will kick off in Atlanta. With less than four weeks to go and 575 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the Steel Market Update Steel […]
On Monday, Aug. 28, the steel event of the year will kick off in Atlanta. With four weeks to go and 560 steel and manufacturing executives already registered, expectations are for this conference to truly be the most dynamic steel conference in North America for 2017. Welcome to the 7th Steel Market Update (SMU) Steel […]
ArcelorMittal’s NAFTA segment posted sales of $4.6 billion, a 3.3 percent decline from first quarter. Operating income decreased to $378 million from $396 million and EBITDA fell 3.3 percent to $506 million. Although average steel prices were higher in second quarter, they were offset by lower shipment volumes and higher costs, including planned maintenance at […]
Even conceding that a strong U.S. steel industry is vital to the nation’s security, it’s unclear whether America’s steelmakers really need an assist from the government in the form of new tariffs or quotas under Section 232. “Is the industry deserving of any kind of help? I believe you can make a good case that […]