Tag: demand

US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.

ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.

Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.

Declining demand and a challenging economic environment impacted Gerdau’s shipments in North America during the third quarter.

SMU gives an overview of the steel market and economic indicators for October.

GrafTech International reported a bumpy third quarter. But despite the challenges, the company said it's certain that improvement is on the horizon.

Canada's Algoma Steel is planning two 20-day outages next year as it brings the second phase of its plate mill modernization project online.

Algoma Steel said its quarterly earnings were impacted by falling steel prices and lower buying associated with the United Auto Workers (UAW) strikes in the US. But with the strikes wrapping up, it expects a recovery in both pricing and demand moving forward.

The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.

The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.

A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU.

Construction spending edged higher in September, but a shortage of workers continues to constrain project completion rates, according to the Associated General Contractors of America (AGC).

Manufacturing activity in the US contracted once again during the month of October.

Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.

Latin American flat-rolled steelmaker Ternium is seeing strong demand in Mexico, its main market. With its new mill in Pesquería, Mexico, up and running, more lines there set to come online, and the company now holding an increased stake in Brazilian mining and steel company Usiminas, Luxembourg-based Ternium is optimistic about the future direction of the company.

SMU will host a Community Chat on Wednesday Nov. 15 at 12 pm ET with Alan Amici, president and CEO of the Center for Automotive Research (CAR). The webinar is free for all to attend live. A recording will be available to SMU subscribers. You can register here.

SSAB reported lower earnings in the third quarter on weaker demand in Europe that was only partially offset by solid demand for plate in North America.

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.

SMU’s Current and Future Steel Buyers Sentiment Indices both increased this week, based on our most recent survey data. Every other week we poll steel buyers about sentiment. The Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s chances of success in the current market, as well as three to six months down the road. We have historical data going back to 2008. Check our interactive graphing tool here.

With the aluminum industry assembled in Nashville, Tenn., for the Aluminum USA 2023 conference, word was breaking of a tentative deal between the United Auto Workers (UAW) and Ford.

CRU forecasts a stronger year for steel sheet demand in 2024 than in 2023 as growth continues in Asia and a recent period of contraction in the West ends.

U.S. Steel’s third-quarter earnings call with analysts on Friday, Oct. 27, was packed full of insight into the Pittsburgh-based steelmaker’s current state of affairs.

I wrote on Sunday that it could be a busy week for steel. It has been.

Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.

Mill lead times for flat-rolled products pushed out this week once again across the board.

Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.

Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.

Electricity demand worldwide is growing significantly, requiring massive investments in the electric grid to supply increased needs and desire for electricity. A recent report by the International Energy Agency (IEA) indicates that global demand for electricity will double from 2020 to 2050. In developed economies, the growth rate will be somewhat lower. But it will […]

As the ferrous scrap market in the US enters the home stretch for 2023, it faces an array of issues and uncertainties.

Well, what a difference a month makes…