So far, I have found the CRU North American Steel Conference in Chicago today to be filled with some excellent speakers and topics. There has been a considerable amount of support for the policies of President Trump, especially with Section 232 tariffs and the handling of trade negotiations with China, Mexico and Canada. Perhaps panelist […]
Our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop will be held in Toledo, Ohio on December 11 & 12, 2018. We will be touring the North Star BlueScope steel mill. The NSB mill produces steel from scrap, pig iron and other iron units in their EAF (electric arc furnace). SMU would […]
Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals workshop will be held in Starkville, Miss., on Jan. 29-30, 2019. We will be touring the Steel Dynamics Columbus steel mill. The SDI mill produces steel from scrap, pig iron and other iron units in their EAF (electric arc furnace). SMU would […]
ArcelorMittal NAFTA posted sales of $5.4 billion for the second quarter of 2018, a jump of 12.7 percent from the first quarter. Steel shipments increased by 4.4 percent to 5.8 million metric tons. Improved results were driven by strong market demand and higher shipment volumes. NAFTA segment EBITDA rose 19.6 percent year-over-year. NAFTA segment crude […]
The U.S. steel industry continues to find new ways to help automakers lighten vehicles for better fuel efficiency. One of the latest developments is by ArcelorMittal in partnership with Honda. Engineers from the two companies designed the industry’s first hot-stamped, laser-welded inner and outer door ring using ultra-high-strength steel. The system replaces conventional multi-piece, spot […]
ArcelorMittal NAFTA posted sales of $4.8 billion for the first quarter of 2018, up 10.6 percent sequentially. Steel shipments increased 4.8 percent from the fourth quarter to 5.9 million metric tons driven by higher volume of flat products due to improved market fundamentals. Average selling price increased 3.5 percent for flat products and 9.1 percent […]
A massive five at automotive parts supplier Meridian Magnesium Products has disrupted vehicle production at Ford, General Motors, FCA, BMW and Mercedes-Benz. An explosion and fire at the Meridian Lightweight Technology’s Eaton Rapids plant in Michigan on May 2 has forced Ford to suspend production of its popular F-150 truck and Superduty pickups. Ford has […]
I was asked if plate price momentum was also at neutral as we had just adjusted our flat rolled price momentum indicator away from higher to the neutral designation. To be honest, we haven’t actually incorporated plate into having its own index and it probably needs one. Plate prices don’t always move in sync with […]
“The tariffs are already causing our jobs and work to shift to competitors outside our borders and will continue to do so until action is taken. What was presented as a tariff on foreign steel producers has effectively become a tax on U.S. manufacturers like us,” stated Kevin Kennedy, president of Kennedy Fabricating, Inc., Splendora, […]
I’ve been asked my opinion as to which way steel prices will head from here. There seems to be a bit of a lull at the moment that one steel buyer attributed to the mills trying to stave off imports and not appear to be too greedy. Steel buyers are telling me that they will […]
There are a lot of moving pieces to the Section 232 tariffs and the negotiations these tariffs have prompted among the countries that have not yet been excluded. Quotas are being discussed with most, if not all countries, with South Korea agreeing to 70 percent of their 2017 shipment levels. You should anticipate that other […]
I will be traveling beginning on Tuesday afternoon as I head to Chicago to conduct one of our Steel 101 workshops. I want to take a moment to thank NLMK USA for their hospitality as we will be touring their Portage minimill on Wednesday of this week. I will not return to my office until […]
Registration is now available on our website for the next Steel 101 workshop in Memphis, Tenn. On June 5 & 6, 2018, Steel Market Update will host our Steel 101: Introduction to Steel Making & Market Fundamentals workshop. The workshop will be held at the Westin on Beale Street in downtown Memphis. From there we […]
I went out and looked around to see what I could find regarding foreign steel offers into the U.S. market. I did learn that the Mexican mills are offering to some of their core U.S. customers, but they do not have a lot of steel to sell. The pricing on hot rolled is being referenced […]
We believe we will have something special for those attending Steel Market Update’s Steel 101 workshop on June 5-6 in Arkansas, which will include tours of both the Nucor Hickman and Nucor-Yamato steel plants. This will provide a unique opportunity for those attending to see a working flat rolled mill with an electric arc furnace, […]
ArcelorMittal’s NAFTA segment saw crude steel production decrease 5.2 percent to 5.6 million metric tons in the fourth quarter due to operational issues in Mexico, planned maintenance at Dofasco, and a slower U.S. market. Steel shipments declined 8.9 percent to 4.2 million metric tons, primarily driven by lower volumes in flat and long products. Sales […]
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 […]
Steel imports are on the rise this year at ports on the Gulf and West Coast. Steel imports to the U.S. are expected to reach 39,812,592 net tons this year, an 18.6 percent increase from 2016. Port of Houston is a major hub for steel imports with 2.05 million tons of steel passing through the […]
Editor’s note: Following is a response from Zekelman Industries CEO Barry Zekelman to remarks by Daniel Pearson of the Cato Institute published in Steel Market Update’s Sept. 5 newsletter. Zekelman comments on his position on imports and the current state of steel-related trade into the U.S. During our exchange at the recent SMU Steel Summit […]
Steel Dynamics, Inc., is excited about the second half and is expecting growth in all sectors through 2018. CEO Mark Millett says the flat rolled arena remains very strong despite a slight turning of the automotive market. Infrastructure is continuing to grow, as evidenced by cranes and road work funded by states, if not federal […]
NLMK Group announced it has signed an agreement for purchase of the core processing equipment for the construction of a new reheating furnace at NLMK Pennsylvania. The new walking-beam reheating furnace will streamline the slab heating process at NLMK Pennsylvania and replace three outdated pusher-type furnaces currently operational at the facility. The reheating furnace, which […]
NLMK USA has gotten the go-ahead on a new walking beam furnace for the Pennsylvania plant. Some pre-construction has already begun. James Baker, Jr. told us in an email, “We will be installing a walking beam furnace in Farrell. We have already started on initial site prep with target completion date of September 2018. There […]
The new locks at the Panama Canal are set to open on June 26th with the passage of a single vessel, the container ship Cosco Shipping Panama. The ship selected by lottery and sailing from Greece, will pass from the Caribbean locks of Agua Clara in the morning and end in the locks of Cocoli […]
As negotiations between the domestic steel mills and their ferrous scrap suppliers conclude we are seeing scrap prices rise with the Chicago markets “catching up” with some of the other regions. Dealers are reporting robust sales, especially to sheet mills as they are picking up spot market share from the integrated mills. Chicago area prices […]
“The UK steel industry is struggling for survival in the face of extremely challenging market conditions.” That’s how Tata Europe CEO Karl Koehler summed up the condition of the industry that is facing an onslaught of cheap steel imports, particularly from China, high energy costs and a weak export market due to a strong British […]
I am currently involved in selling our family home now that my kids are gone and we no longer need a large house. The process of dealing with listing agents and real estate sales people has sparked a number of articles about customers service and understanding who the customer really is within our newsletter/website. The […]
US Steel announced Monday that it intends to permanently close its blast furnace and associated steelmaking operations at Fairfield Works in Alabama. Most of the flat-rolled finishing operations at Fairfield will also be shut down. About 1,100 employees will lose their jobs due to the closure. “We have made some difficult decisions over the last […]
ArcelorMittal responded Monday to rumors of a potential closure of Indiana Harbor West in East Chicago. Key Banc reported that sources indicated “ArcelorMittal USA is taking steps to reduce its sheet hot end and finishing capabilities via the closure of Indiana Harbor West.” A spokesperson at ArcelorMittal USA, in an email to Steel Market Update, […]
I am looking forward to traveling to South Carolina for our next Steel 101 workshop which is at the beginning of next week. I would like to recognize and thank Nucor and their Berkeley facility for allowing us to tour their flat rolled (sheet) and beam mills. This is the first time I personally will […]
I was advis ed today that Nucor had reduced their pricing on beams by $40 per ton in order to compete with foreign beam offers. The question then became what are the mills doing to blunt the impact of foreign steel offers of flat rolled products into the United States? As we reported on Tuesday, […]