Cleveland Cliffs broke ground on its new $700 million hot-briquetted iron facility in Toledo, Ohio, on Thursday. “Today we are launching a new era for the iron and steel industry in the United States,” said CEO Lourenco Goncalves. “For several decades, Cleveland-Cliffs has been supplying the American steelmakers in the Great Lakes with customized pellets […]
Big River Steel sees opportunity in the convergence of two major trends in automotive: development of autonomous/electric vehicles and advanced steels. “Niche steel is a big part of what we want to do. The opportunity in electrical steel is immense,” said Big River Chief Commercial Officer Mark Bula at the S&P Global Platts Steel Markets […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
Not long ago, supercomputers were few in number and basically only accessible to the likes of university research labs and government agencies. Today, ready access to supercomputing technology is poised to change the business world, says Stephen Pratt, co-founder of Noodle.ai, a San Francisco-based enterprise artificial intelligence company. Pratt has a long and impressive resume […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
The SMU Steel Summit Conference is THE fastest growing steel conference in North America and THE one conference manufacturing, distribution, suppliers to the industry and steel mills want to attend. Details about the agenda, speakers, location and costs, as well as how to register, can be found on our website: www.SteelMarketUpdate.com/Events/Steel-Summit or you can contact […]
The American Institute for International Steel, which represents foreign steelmakers, called the Commerce Department’s recommendations in the Section 232 report on steel imports “excessive and unnecessary” and warned of global retaliation that would push the U.S. and world toward a recession. AIIS Board Chairman John Foster issued the following statement on Monday: “The recommendations in […]
The first advice I have for steel buyers is don’t panic. Nothing has been announced on 232 yet. Someone mentioned to me this evening that in reality the president hasn’t made a bad decision yet (I am going to ignore Russia – just talking about business related issues). Section 232 may be the first, but […]
The Commerce Department has found that unfair imports of steel products do indeed pose a threat to U.S. national security, and in a press conference on Friday revealed the remedies it has recommended to President Trump. The announcement of possible tariffs and quotas drew strong reactions from the marketplace. The Commerce recommendations include three options […]
Union Partners announced plans today to build a new steel processing facility on the Osceola, Ark., campus of Big River Steel. The operations will be located directly adjacent to Big River’s Flex Mill and will include both slitting and multi-blanking lines in a new build-to-suit facility expandable to 258,000 square feet. Construction will be on […]
SMS Group, a plant supplier to the metals industry, is partnering with Arkansas Northeastern College to create the Arkansas Steelmaking Academy. The academy in Osceola will help North American steel companies to train team members in cutting edge techniques in steelmaking and processing. Currently, training by SMS has only been available in Germany. The new […]
I am hearing from some of AK Steel’s customers that the hot end of the mill will be back up early this week. One told me on Friday, “I spoke with AK yesterday and was told there will be little impact from the ladle accident…” I got a question from a steel buyer dealing with […]
The wheels are moving and things are happening that are going to affect the momentum behind this market. First, there are new price increase announcements being made, first out of California and now by ArcelorMittal USA, which has put new base prices into the market. Second, Big River Steel put their customers on allocation for […]
Following is an edited excerpt of a new monthly publication, “The GOES Chronicle,” from Steel-Insights. For further details, contact Becky E. Hites at becky.hites@steel-insights.com. Production of Grain Oriented Electrical Steel (GOES) has undergone a tectonic shift in the past decade. The market historically has been supplied through a controlled group of companies protected from outside […]
Ratner Steel’s new Osceola, Ark., service center may be located near Big River Steel, but Big River is only one of the mills Ratner plans to use as a source for steel, said Steve Gottlieb, Ratner president and COO. “People think we will only do business with Big River, but our intention is to buy […]
We did a quick check of lead times at a number of domestic steel mills on Friday of this past week. This is what we learned: Steel Dynamics Industries (SDI) – Butler, Ind. HR – closed for November production Pickled – closed for November production CR – closed for November production HRG – 11/20 (4 […]
Two representatives of steel intensive regions will co-chair the Congressional Steel Caucus, Representatives Rick Crawford (R-AR) and Mike Bost (R-IL). Crawford’s 1st Congressional District in Arkansas was a farming region three decades ago when the Caucus was founded. Today, it hosts Nucor-Steel Yamato, Nucor Steel Arkansas, and Big River Steel, making it the second largest […]
Two representatives of steel intensive regions will co-chair the Congressional Steel Caucus, Representatives Rick Crawford (R-AR) and Mike Bost (R-IL). Crawford’s 1st Congressional District in Arkansas was a farming region three decades ago when the Caucus was founded. Today, it hosts Nucor-Steel Yamato, Nucor Steel Arkansas and Big River Steel, making it the second largest […]
The supply of trucks available to transport steel is tightening, more so because of a man-made state of affairs than the recent natural disasters. “The storms didn’t help, but they are not the big driver. It’s getting into compliance with the new ELD regulations,” said a service center executive in the Southeast. “The hurricanes have […]
Big River Steel presented a check for $50 million to Arkansas Governer Asa Hutchinson for full repayment of a loan from the State of Arkansas—and did it 17 years early. The early repayment of this $50 million loan is a strong indication of the financial strength of Big River Steel and reaffirms my confidence in […]
Editor’s note: Mario Briccetti of Briccetti & Associates, a supply chain consulting firm, offers the following commentary: I had the opportunity to interview the CEO of Big River Steel, David Stickler, at Steel Market Update’s Steel Summit Conference in August. Much of the conference was focused on trade issues, but Mr. Stickler’s remarks struck me […]
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 […]
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 […]
More than a billion dollars of financing is headed to Big River Steel. The Osceola, Ark., steel company announced Thursday that it has closed on $1.225 billion of financing that will be used to refinance a substantial majority of its outstanding debt and for general corporate and working capital purposes. The financing includes $600 million […]
More than a billion dollars of financing is headed to Big River Steel. The Osceola, Ark., steel company announced Thursday that it has closed on $1.225 billion of financing that will be used to refinance a substantial majority of its outstanding debt and for general corporate and working capital purposes. The financing includes $600 million […]
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 […]
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 […]
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 […]