You don’t need SMU pontificating about how the Russia-Ukraine conflict marks the end of the post-WWII order. Suffice it to say the world we woke up to today is vastly different from the one we reported on in our last edition. We’re also getting used to thinking about things we haven’t had to think about […]
Industry analyst Paul Lowrey is “bullish on the short-term outlook for steel,” but his goal as a presenter during the Tampa Steel Conference this week was “to get some of you to think differently about what is going on.” Lowrey, founder of Pittsburgh-based Steel Research Associates, is a contrarian when it comes to the common […]
Nucor has closed its $400 million deal for a majority stake in California Steel Industries (CSI). “We are excited to officially welcome our CSI teammates to the broader Nucor family,” said Rex Query, Nucor’s Executive Vice President of Sheet and Tubular Products. “This joint venture gives us a strong presence in the Western region and grows our ability to produce […]
Calling 2021 “the safest and most profitable year in the company’s history,” Nucor executives sounded “a consistent drumbeat on demand” in their outlook for 2022 during their fourth-quarter conference call with analysts and investors today. The Charlotte, N.C.-based steelmaker posted record earnings of $6.83 billion in 2021 on sales of $36.5 billion. Sixteen of its […]
Nucor Corp. has confirmed that its greenfield, $2.7 billion electric arc furnace (EAF) sheet mill will be built in West Virginia. The Charlotte, N.C.-based steelmaker said the mill, expected to have capacity of three million tons per year, would be located in Mason County along the Ohio River. Additional sites in northern West Virginia are […]
California Steel Industries (CSI) has opened its February order book for flat-rolled steel and decreased prices significantly, according to market participants. That’s a big change from 2021, when the Fontana, Calif.-based slab converter often increased prices substantially from one month to the next. “Customers are reminded that prices are subject to change at any time […]
California Steel Industries (CSI) has closed its January order book for flat-rolled steel – but doing so took significantly longer than in past months. “We will contact you when we open the flat rolled order book for February 2022,” the Fontana, Calif.-based slab converted said in a letter to customers on Monday, Dec. 13. The company […]
Nucor has acquired a majority stake in California Steel Industries (CSI) for approximately $400 million in a deal that will significantly expand its presence on the West Coast. The Charlotte, N.C.-based steelmaker paid that amount for Brazilian iron ore miner Vale’s 50% stake in Fontana, Calif.-based CSI. It also acquired 1% of Japanese steelmaker’s JFE […]
Brazilian iron ore miner Vale is in an “advanced stage of negotiations” to sell its stake in California Steel Industries (CSI), according to an investor day presentation. The presentation did not say which company Vale was in talks with. CSI is a Fontana, Calif.-based slab converter. It is also a 50-50 joint venture between Vale […]
California Steel Industries (CSI) has opened its November order book for flat-rolled steel and increased prices, according to market participants. CSI did not specify whether it had increased prices. But it has quietly hiked prices in prior months along with the opening of books. The latest hike was approximately $60-80 per ton ($3-4 per cwt) […]
Majestic Steel USA has acquired West Coast service center Merit Steel USA in a push to expand its presence in the region. The Cleveland-based service center said persistent supply chain constraints bolstered the case for growing its footprint west of the Rocky Mountains. Terms of the deal were not disclosed. “Merit has a strong reputation as a […]
What’s this world coming to when an integrated steelmaker – a leader in an industry notorious for taking a huge toll on the environment – spends much of his earnings call talking about cutting carbon emissions? Said Lourenco Goncalves, Cleveland-Cliffs’ chief executive, last week: “Cliffs sees decarbonization as part of our license to continue to […]
California Steel Industries (CSI) has closed its flat-rolled steel order book for October just a week after opening it. “We want to thank you for your continued support. … We will contact you when we open the flat rolled order book for future orders,” the company said in letters to customers. The West Coast slab […]
California Steel Industries (CSI) has closed its flat-rolled steel order book for October just a week after opening it. “We want to thank you for your continued support. … We will contact you when we open the flat rolled order book for future orders,” the company said in letters to customers. The West Coast slab […]
You’ll have to wait until the fourth quarter if you’re looking for flat rolled from California Steel Industries (CSI). The West Coast slab converter announced that it had closed its September order book on Thursday, July 1 – just a week after it opened the month and increased prices by $200 per ton ($10 per […]
The 2021 SMU Steel Summit Conference is seven weeks away and the SMU and CRU events teams are fully focused on making this year’s event one to remember. As always, the place to be on Aug. 23-25 will be the Georgia International Convention Center, which is located right next to the Atlanta International Airport (ATL). […]
The 2021 SMU Steel Summit Conference is seven weeks away and the SMU and CRU events teams are fully focused on making this year’s event one to remember. As always, the place to be on Aug. 23-25 will be the Georgia International Convention Center, which is located right next to the Atlanta International Airport (ATL). […]
Let’s talk about lead times. Because the results from our latest survey caught my attention. This is the first time in since January-February that you can maybe discern a potential peak in pricing – at least judging by that metric. Lead Times: Trend or Head Fake I’m going to display our lead latest lead time […]
Let’s talk about flat rolled and plate steel mill lead times. Because the results from our latest steel market survey caught my attention. This is the first time in since January-February that you can maybe discern a potential peak in pricing – at least judging by that metric. Lead Times: Trend or Head Fake I’m […]
California Steel Industries (CSI) has opened its flat rolled order book for September. The West Coast slab converter also has increased prices by approximately $200 per ton ($10/cwt), according to market participants. “The purpose of this letter is to inform you that CSI’s September flat rolled order book is now open,” the company said in […]
California Steel Industries (CSI) has opened its flat rolled orderbook for August, and the West Coast slab converter has also increased prices by triple-digit margins, according to market participants. “The purpose of this letter is to inform you that CSI’s August Flat Rolled Order Book is now open,” the company said in emails to customers on Thursday, May […]
California Steel Industries (CS) will increase its zinc coating extras effective July 1. “Due to changing zinc costs, our galvanized coating extras have been revised,” the company said in a letter to customers on Friday, May 14. The West Coast slab re-roller last increased coating extras in early December. Zinc prices have since risen. Zinc […]
Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs, will be honored as Steelmaker of the Year by the Association for Iron and Steel Technology at this year’s AISTech 2021 conference. The award recognizes Goncalves for his leadership in the iron and steel industry. Said AIST in a press release: “Goncalves is awarded Steelmaker of the […]
California Steel Industries (CSI) is increasing freight rates by 5-13% because of a shortage of flatbed trucks. The freight surcharge is effective immediately, and the exact amount varies by region, the West Coast slab converter said in a letter to customers Tuesday, May 4. “Transportation costs are rapidly increasing and are expected to continue to […]
California Steel Industries (CSI) has opened its flat rolled orderbook, and the West Coast slab converter has also increased prices by as much as $130 per ton ($6.50/cwt), according to market participants. “The purpose of this letter is to inform you that CSI’s July Flat Rolled Order Book is now open,” the company said in emails to customers […]
California Steel Industries (CSI) has closed its June flat rolled order book just a week after opening it. “We want to thank you for your continued support during these difficult times. … We will contact you when we open the flat rolled order book for July,” CSI said in a letter to customers dated Wednesday, […]
JSW Steel USA’s electric-arc furnace (EAF) and slab caster are up and running, but the company has decided to keep the plant’s hot strip mill idle, a company spokesman said. JSW’s Mingo Junction, Ohio, flat-rolled steel mill will make slabs and will “continue with outside tolling,” he added. “Right now, the hot strip mill is […]
California Steel Industries (CSI) has opened its June flat rolled orderbook, and the West Coast slab converter has also increased prices by as much as $90 per ton ($4.50/cwt), according to market participants. “The purpose of this letter is to inform you that CSI’s June flat rolled orderbook is now open,” the company said in […]
By CRU Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Details of China’s Tangshan emission control policy that circulated in the last week have provided a further boost to Chinese steel prices but have weighed on prices for iron ore. The high cost of freight is still reducing the competitiveness of sheet imports in […]
Registrations for the 2021 SMU Steel Summit Conference have topped 200 and counting. We continue to work toward having a live in-person conference in Atlanta on Aug. 23-25. We are heartened to hear President Biden speak to having enough vaccine to inoculate the entire U.S. population by the end of May. If true, that gives […]