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 […]
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 […]
Companhia Siderúrgica do Pecém (CSP) has delayed a scheduled shutdown of its blast furnace until the second half of 2021, a company spokeswoman said. The Brazilian steelmaker had originally planned to undertake the shutdown, necessary to implement “processes improvement,” in the second quarter of this year. “The initial date was postponed mainly due to the […]
California Steel Industries (CSI) has closed its May order booked for flat-rolled steel 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 June,” CSI said in a Feb. 23 letter to […]
The U.S. Commerce Department has preliminarily increased anti-dumping margins on several major Japanese hot-rolled coil suppliers. Commerce calculated preliminary anti-dumping margins of 11.70% for Nippon Steel, Japan’s largest steelmaker, and 6.8% for Tokyo Steel Manufacturing. Nippon Steel and Tokyo Steel were the mandatory respondents in the case. But a litany of Japanese steel suppliers–including JFE […]
Import license data for February is not complete, but foreign arrivals of some flat-rolled steel products are already running ahead of January volumes, according to Commerce Department figures. And with lead times at domestic mills running close to or even with import arrival times, that trend might continue, some market participants said. Hot Rolled and […]
Nucor has increased spot flat-rolled steel prices for some buyers by $40 per ton ($2/cwt), according to market participants. The electric-arc furnace (EAF) steelmaker is quoting certain customers $1,240 per ton for April hot-rolled coil, up from $1,200 previously, sources said. What’s less clear is how many spot tons are available for purchase. Spot tonnage, which […]
AM/NS Calvert has quietly increased prices for new spot orders by $40 per ton ($2/cwt), according to market participants. The move–which was effective on Feb. 16 but not widely announced–will see base prices for hot-rolled coil increase from $1,160 per ton to $1,200 per ton, sources said. Base prices for cold-rolled and coated products will […]
Good news for NLMK USA customers as the mill has worked out a tentative agreement with the union at their Farrell, Pa., facility, which will end the strike that goes back to late August. Once back in production, this will help (slightly) with some of the supply issues we have been seeing in the market. […]
California Steel Industries (CSI) has opened its May order book, and the West Coast slab converter has also increased prices, according to market participants. “The purpose of this letter is to inform you that CSI’s May flat rolled order book is now open,” the company said in a Feb. 16 letter to customers. The letter […]
Section 232 tariffs and quotas have left domestic steelmakers and steel consumers in sharply different realities. One side is investing big at home and enjoying record profits. The other is angry about sharply higher costs and is scouting for more steel abroad. That was the takeaway from a trade roundtable at Steel Market Update’s virtual Tampa […]
California Steel Industries (CSI) has closed its April flat-rolled order book just a week after opening it. “The orders you submitted during the last few days allowed us to achieve our planned capacity utilization. … We will contact you when we open the flat-rolled order book for May,” the West Coast slab converter said in […]
California Steel Industries (CSI) has opened its April flat-rolled order book, and it has done so at sharply higher prices, according to some market participants. “California Steel Industries reserves the right to review any previously quoted requirements that have not been placed, acknowledged or confirmed in writing,” the West Coast slab converter said in a […]
By CRU Prices Analyst George Pearson from CRU’s Steel Sheet Products Monitor HR coil import prices and lead times are now competitive with domestic mills in the U.S. and Europe. Both markets remain tight in the short-term, but this is giving buyers more optionality for forward deliveries than in previous months and some negotiation power […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor Sheet prices in the U.S. Midwest market have not only continued to rise, but the m/m gains have come so fast that our second Wednesday price assessment completely skipped the $900 /s.ton level. Our Jan. 12 price assessment for HR coil is $1,044 […]
Brazil’s annual Section 232 slab quota has reset, a move that is likely to at least partially relieve a supply squeeze that has sent U.S. sheet prices to their highest point in more than 12 years. Brazil’s Section 232 slab quota for 2021 is approximately 3.86 million tons, according to information from U.S. Customs and […]
Brazil’s annual Section 232 slab quota has reset, a move that is likely to at least partially relieve a supply squeeze that has sent U.S. sheet prices to their highest point in more than 12 years. Brazil’s Section 232 slab quota for 2021 is approximately 3.86 million tons, according to information from U.S. Customs and […]
On Monday, Dec. 7, both NLMK and California Steel Industries notified customers of an upward revision to their galvanized steel coating extras. A letter from CSI stated, “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective January 2021.” NLMK and CSI are the first mills to revise […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor U.S. Steel announced the full buyout of Big River Steel this week, while Cleveland-Cliffs closed on its acquisition of ArcelorMittal’s U.S. assets. In any other week, these headlines would drive the news flow for steel buyers and sellers. However, news this week remains […]
California Steel Industries notified customers on Monday that its February order book is now open and it is increasing transaction prices on its flat rolled products. CSI increased pricing on spot orders of hot rolled and P&O by $50 per ton, and on orders for cold rolled and galvanized by $70 per ton, effective immediately. […]
California Steel Industries has opened its January order book with a considerable bump in prices. CSI notified customers on Monday that it has increased transaction prices on its flat rolled products by $90-100 per ton. Effective immediately, unconfirmed orders for hot rolled, P&O and galvanized increase by $90 per ton, while cold rolled prices increase […]
By Principal Consultant Josh Spoores, from CRU’s Steel Sheet Products Monitor North American sheet prices have continued to surge after bottoming this past August. For HR coil, prices have been assessed at $712 /s.ton. Since Aug. 12, these prices have gained $237 /s.ton, or 63%. This is the fastest percent gain over three months in […]
Steel Market Update has had conversations/communications with Robert Miller, CEO and James Banker, Jr., Executive Vice President of NLMK USA as we endeavor to learn more about the status of the strike against the Farrell, Pennsylvania facility, status of slabs for the Farrell mill, and gain a better understanding of the general flat rolled steel […]