U.S. Steel’s Midwest Plant is back up and running after operations were temporarily halted because of discolored wastewater, a company spokeswoman said. The Portage, Ind., finishing operation – part of U.S. Steel’s Gary Works in northwest Indiana – had been down for about a day, the spokeswoman told SMU on Wednesday afternoon. Midwest Plant typically discharges treated […]
U.S. Steel has temporarily halted operations at its Midwest Plant because of discolored wastewater discharged from its Portage, Ind., finishing facility. “The Midwest Plant was shut down as a precaution, and we continue to coordinate with agencies to collect additional samples to monitor the situation,” a company spokeswoman said in an email to Steel Market […]
Mexican steelmaker Altos Hornos de México (AHMSA) has called off its deal with service center Grupo Villacero, according to regulatory filings in Mexico. AHMSA said it had scrapped the agreement with Alianza Minero Metalúrgica Internacional because of alleged “legal irregularities.” Alianza is a group of investors led by Grupo Villacero President Julio Villarreal, per Mexican […]
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 […]
Flat-rolled steel prices continue to shoot upward – with no signs of the summer doldrums, the chip shortage or fears of a correction blunting their momentum. U.S hot-rolled rolled coil prices now stand at $1,850 per ton ($92.50 per cwt), up $30 per ton from a week ago. Cold-rolled coil and galvanized base prices notched similar […]
Flat-rolled steel prices continue to shoot upward – with no signs of the summer doldrums, the chip shortage or fears of a correction blunting their momentum. U.S hot-rolled rolled coil prices now stand at $1,850 per ton ($92.50 per cwt), up $30 per ton from a week ago. Cold-rolled coil and galvanized base prices notched similar […]
I’ve heard more than a few times now that we should keep a close eye out for falling steel prices because, “Look what happened in lumber.” In case you’ve been under a rock (or tree), lumber prices fell more than 40% in June, their biggest monthly drop on record, according to CNBC and others. What […]
SMU found no evidence of a summer lull in our latest check of the market. Sheet prices were flat or up in a post-holiday period that in prior years has seen them slip. Hot-rolled coil and cold-rolled coil prices were unchanged. Galvanized and Galvalume prices were up $25 per ton and $50 per ton, respectively. […]
SMU found no evidence of a summer lull in our latest check of the market. Sheet prices were flat or up in a post-holiday period that in prior years has seen them slip. Hot-rolled coil and cold-rolled coil prices were unchanged. Galvanized and Galvalume prices were up $25 per ton and $50 per ton, respectively. […]
Algoma Steel is slated to receive as much as C$420 million ($340 million U.S.) from the Canadian government to help pay for its switch from integrated steelmaking to electric-arc furnace (EAF) production. The amount will be distributed over four years and is aimed at making the Sault Ste. Marie, Ontario-based flat-rolled steelmaker one of the […]
By Michael Marley The mini sheet mills face a maxi problem, namely no additional supplies of prompt industrial scrap to feed their growing appetites for that raw material. As they move ahead with planned expansions of existing facilities and the construction of greenfield plants, electric arc furnace (EAF) steelmakers may be forced to rely on additional […]
Hot-rolled coil prices have broken through the $1,700 per ton ($85 per cwt) threshold and now average $1,720 per ton. That’s up $45 per ton from a week ago and closing in on quadruple a 2020 low – reached last August – of $440 per ton. The latest gains come after Steel Market Update’s sentiment […]
Hot-rolled coil prices charged higher yet again even as lead times stretched into August, a typically slower time of the year. Is a year-long hot streak for sheet possible? The answer in ordinary times would be ‘no’. But these are not ordinary times. Hot-rolled coil prices have hit a new all-time high of $1,675 per […]
The U.S. Commerce Department has determined that coated flat-rolled steel made in Malaysia from Chinese or Taiwanese substrate circumvents U.S. anti-dumping and countervailing duties. As a result, coated product from Malaysia could be subject to duties of more than 200% if it is determined to be made from Chinese hot-rolled coil or cold-rolled coil, according […]
Privately held Canadian steelmaker Algoma Steel has agreed to be taken over and taken public in a deal valued at as much as $1.7 billion, the company said. Proceeds from the initial public offering (IPO) might result in the Sault Ste. Marie, Ontario-based company becoming the latest producer to switch from integrated to electric arc […]
NLMK USA is taking an unplanned seven- to 10-day outage on the hot-strip mill at its facility in Farrell, Pa., a company executive said. The repairs are necessary because a motor failed on the reversing roughing mill, NLMK USA Executive Vice President James Banker told Steel Market Update on Tuesday, May 11. The company will […]
NLMK USA is taking an unplanned seven- to 10-day outage on the hot-strip mill at its facility in Farrell, Pa., a company executive said. The repairs are necessary because a motor failed on the reversing roughing mill, NLMK USA Executive Vice President James Banker told Steel Market Update on Tuesday, May 11. The company will […]
The United Steelworkers (USW) union and Allegheny Technologies Inc. (ATI) appear to be far from making a deal as a strike against the company enters its fourth week. The USW says ATI is under pressure because it finds itself unable to fulfill existing customer orders a result of the labor action. An ATI spokeswoman said the company is […]
Hyundai Steel has halted output on some production lines and will be approximately 1.5 months late with some shipments because of a “guerrilla strike,” according to a letter to U.S. customers. “Since the strike is still ongoing and the effect of the production suspension(s) are yet to be calculated, we cannot designate the accurate quantity […]
Altos Hornos de México (AMSA) has resumed normal operations at its No. 5 blast furnace following a temporary outage last month, a company spokesman said. The No. 5 furnace had to stop for two days because of severe weather and a natural gas shortage. The Mexican flat-rolled steelmaker last month said that it had lost […]
Altos Hornos de México (AMSA) has resumed normal operations at its No. 5 blast furnace following a temporary outage last month, a company spokesman said. The No. 5 furnace had to stop for two days because of severe weather and a natural gas shortage. The Mexican flat-rolled steelmaker last month said that it had lost […]
Algoma Steel Inc. aims to raise sheet and plate prices by $40 per ton ($2/cwt) effectively immediately for new spot orders. The price hike applies equally to hot-rolled coil, cold-rolled coil, as-rolled plate and heat-treated plate, the Canadian flat-rolled steelmaker said in letters to customers on Friday, March 5. Published extras will also be applied to […]
Flat-rolled steel imports to the United States rebounded in February, weighing in at their highest monthly total in more than a year. Hot-rolled imports, meanwhile, hit their highest point in more than two years, according to Commerce Department figures. And the trend is only just getting started, according to some market participants. The U.S. was […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
U.S. crude steel production fell sharply in January 2021 versus the same month last year even as production rose in most other major steelmaking nations, according to figures from the World Steel Association. And with domestic supplies scarce, some buyer sources have told Steel Market Update that they are taking a closer look at the […]
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 […]
Interest in imported flat-rolled steel is growing among some U.S. buyers thanks to a widening spread between domestic mill prices and foreign offers. Some market participants said they had already purchased material at what they thought was an attractive price–and because long domestic mill lead times reduce the risk of buying imports. But others said […]
NLMK USA and striking United Steelworkers at the mill’s operations in western Pennsylvania remain at loggerheads nearly five and a half months after the labor action began. “As of now, we remain far apart with the union. We continue to meet in good faith working towards a resolution,” NLMK USA President and CEO Robert D. Miller said […]