I’d have been surprised if anyone told me just last week that the January scrap market might move lower. What we saw on Friday were offers. Not settlements. And no doubt there are still some twists and turns in store before we can say for sure which way scrap will go.
All good things, including but not limited to the Holiday Season, must come to an end. The corporate independence of U.S. Steel Corporation looks like it’s coming to an end also, despite objections from some politicians and the United Steelworkers union.
The Department of Commerce issued its final determination in the trade case involving tin mill products from a handful of countries.
The new year represents an opportunity to capitalize on America’s leadership position in free market principles, steel industry modernization, and global efforts to create a lower carbon future for the steel industry. Steel Manufacturing Association (SMA) members are poised to lead the way.
The International Trade Commission (ITC) held a hearing on Thursday, Jan. 4, to consider arguments for and against the imposition of antidumping and countervailing duties (AD/CVDs) on tin mill products from a handful of countries. Both sides made compelling arguments.
Trading slowed across the Midwest hot-rolled coil (HRC) futures curve in the final weeks of 2023, with prices drifting mostly sideways through the month of December.
Cleveland-Cliffs didn’t wait long to roll out the first price increase of the year - $1,150 per short ton (st) for hot-rolled coil. That’s up $50 per ton from the steelmaker’s last published price. Will anyone follow? I’ve heard some mills are meeting this week but that any announcement might not come until next week. We'll see.
Cleveland-Cliffs has appointed private-equity executive Ron Bloom to its board of directors, effective immediately.
Cleveland-Cliffs is now targeting base prices of $1,150 per ton for hot-rolled coil (HRC), according to a press release on Wednesday morning, Jan. 3.
I was asked to do an interview for a cable news channel in Ohio about Nippon Steel’s planned acquisition of U.S. Steel for more than $14 billion.
US hot-rolled coil (HRC) prices were unchanged week over week (WoW) following a string of mostly upward moves dating back to late September.
Nippon Steel will acquire U.S. Steel in a deal valued at $14.9 billion, or $55 per share, the two companies announced on Monday morning. The Japanese steelmaker will keep U.S. Steel's iconic logo and its Pittsburgh headquarters, the companies said.
As 2023 draws to a close, I wanted to look back on some of the key events and themes of the year. But I’m going to hold off on that idea because we were – as of Sunday afternoon - still waiting on news about arguably the biggest event of the year, the potential sale of U.S. Steel.
U.S. Steel has received multiple bids valuing the company at more than $40 per share, CNBC reported on Wednesday.
Steel is up again this week. Scrap is up by a lot this month: $85 per gross ton for busheling, by our calculations.
We have seen a wave of service center transactions announced since the beginning of the month.
Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
It’s no surprise why spot prices are on the rise: Mills have been announcing higher flat-rolled tags for the better part of the past three months, according to our steel mill price increase calendar. A leading cause of the $305-per-ton rally since prices reached a recent bottom of $645 per ton in late September has […]
Bids for U.S. Steel are due on Friday, according to sources familiar with the matter. Friday is also allegedly when a non-disclosure agreement (NDA) between Cleveland-Cliffs Inc. and the Pittsburgh-based steelmaker expires.
US Hot-rolled coil (HRC) prices continue to surge on the heels of mill increases. They have become significantly more expensive than prices for hot band imported from offshore. Domestic hot band tags moved higher for a seventh consecutive week. Imports have seen only marginal gains over the same period, according to SMU’s latest foreign vs. domestic price analysis.
Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.
Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).
You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
The Alliance for Automotive Innovation (AAI), the association representing auto manufacturers making most vehicles sold in the US, has voiced its opposition to the potential acquisition of U.S. Steel by Cleveland-Cliffs.
Cleveland-Cliffs said Tuesday that it would increase spot market base prices for carbon hot-rolled, cold-rolled, and coated steel sheet.
U.S Steel posted sharply lower earnings as a result of a drop in steel prices and only modest gains in shipments. The Pittsburgh-based steelmaker said little about the sales process it launched in August.