U.S. Steel said on Monday it plans to temporarily idle blast furnace ‘B’ at its Granite City Works near St. Louis. The Pittsburgh-based steelmaker said it made the move in response to the United Auto Workers (UAW) union strike against “Big Three” automakers Ford, General Motors, and Stellantis. “Following the announcement of UAW strike actions, […]
Steel prices kept falling throughout last month. Hot-rolled coil (HRC) prices ended August at $725 per ton ($36.25 per cwt) on average, having fallen by $105 per ton during the month.
The US Federal Reserve said that although overall economic activity was modest in July and August, per its latest Beige Book Report released on Sept. 6, the report was still slightly more optimistic than the previous one.
The Dodge Momentum Index (DMI) moved lower in August, driven by a slowdown in planning from tighter lending standards, according to the latest data from the Dodge Construction Network (DCN).
Construction jobs may have increased year over year in July, but many positions remain unfilled.
Although some construction companies have a backlog, many jobs are getting put on hold, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council.
President and CEO of Ternium Mexico Cesar Jimenez discussed positive demand trends and challenges in the Mexico market with SMU managing editor Michael Cowden during a fireside chat on Tuesday, Aug. 22 at the SMU Steel Summit in Atlanta.
Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.
The LME aluminum 3-month price moved higher this week wrapping up the week at $2,170 per ton on Aug. 25.
July was a stable month for business at architectural firms, according to the month's Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek .
Nucor executive Daniel Needham detailed at this year's Steel Summit what’s on the horizon for the steelmaker as the company continues to diversify.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.
Inventory availability and mortgage rates are a limitation for home buyers as existing home sales fell in July, according to the National Association of Realtors (NAR).
To kick off the official sessions of the 2023 Steel Summit, Dr. Anirban Basu, chairman and CEO of the Sage Policy Group, focused on the broader context in which steel prices are set, outlining major factors currently shaping economic outcomes in our country.
The Biden administration issued three decisions last week that raise the question whether international trade will be harder or easier when it comes to infrastructure and commercial manufacturing in the US.
As mortgage rates continue to rise and housing demand slows, builder confidence is waning. A drop in July housing starts was the first in seven months.
Longs producer and metal recycler Gerdau reported lower second-quarter production and shipments due to several mill outages.
Flack Global Metals (FGM) said it has completed an investment in Windsor America, parent of Windsor Door, Garage Door Services of USA and Lodi Door.
The Dodge Momentum Index (DMI) dropped in July due to varying trends in the commercial sector, according to the latest data from the Dodge Construction Network (DCN). The DMI dropped 0.9% from June’s revised reading of 195.1 to 193.4 in July, but it was still 21% higher than the same time last year. “While both segments […]
SMU senior analyst David Schollert provides an overview of steel market indicators for the month of July.
Nucor Corp. announced it will be providing steel to help build a new solar project in Kentucky. In addition, the steelmaker has agreed to purchase power from the project.
US Midwest premium has continued to trend lower. Slack end-use demand is the main driver as the CME backwardation holds for dates further out in 2023. Lower freight and weak LME prices lower the replacement costs of aluminum and thus lower the floor for the premium.
While Ternium is expecting an increase in shipments in the current quarter, a decrease in earnings is also anticipated due to lower international steel prices and higher unit costs.
David Stickler is eager to demonstrate how advancements in technology can contribute to making the rebar market more sustainable.
The newly formed Hybar company has secured financing for its planned 630,000-tons-per-year rebar mini mill being built in northeast Arkansas.
Nucor has received its final federal permit to begin construction on its sheet mill in Mason County, W.Va.
Nucor has received its final federal permit to begin construction on its sheet mill in Mason County, W.Va. The Charlotte, N.C.-based steelmaker said it received the permit on Friday from the US Army Corps of Engineers to start work on the ~$3.1-billion project. Construction is set to begin immediately and expected to last approximately two years, Nucor […]
Five domestic steel trade associations wrote a letter requesting the government to ensure the use of US-made steel in certain components of wind and solar projects receiving federal funding. Addressing the letter to US Treasury Secretary Janet Yellen, the groups included the American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), American Institute of Steel Construction (AISC), […]
There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]
Five domestic steel trade associations wrote a letter requesting the government to ensure the use of US-made steel in certain components of wind and solar projects receiving federal funding. Addressing the letter to US Treasury Secretary Janet Yellen, the groups included the American Iron and Steel Institute (AISI), Steel Manufacturers Association (SMA), American Institute of Steel Construction (AISC), […]