Tag: demand

Sheet steel buyers said mills are more willing to talk price on spot orders, according to our most recent survey data.

Destocking at service centers and a downturn in steel pricing impacted Ternium’s shipments in Mexico in the first quarter of the year.

Lower demand and prices for steel plate impacted SSAB Americas’ results in the first quarter, Swedish parent company SSAB said in its Q1'24 interim report.

Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.

We've used the word "unprecedented" a lot over the last four years to describe steel price volatility. Over the last two months – despite earlier predictions of a price surge - we've seen unprecedented stability.

With strength in the sector and customers needing the product it produces, Cleveland-Cliffs’ chief executive says the company will be more selective with the automotive customers it chooses to serve.

Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.

Sheet prices were again mixed this week – all seemed to highlight the momentum shift seen over the past two weeks.

Nucor executives explained their recently introduced hot-rolled (HR) coil consumer spot price (CSP) is a way to serve their customers and deal with market volatility.

Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]

Cleveland-Cliffs’ chief Lourenco Goncalves and US Secretary of Energy Jennifer Granholm stressed the importance of the US steel industry and domestic manufacturing at Cliffs' Butler Works in Pennsylvania on Monday.

AZZ Inc. said it is seeing improving demand for its coil coating services as it reported a solid quarterly performance.

Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]

Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.

Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.

To the surprise of many — myself included — flat-rolled steel prices appear to be in a holding pattern… again. This is not familiar territory for hot-rolled (HR) coil, at least not over the past few years. Its pricing volatility (as my colleague Michael Cowden has noted in past columns) may rival the elastic moves […]

While general economic conditions across the US improved slightly over the last six weeks, activity in the manufacturing sector was weak, according to the Fed’s latest Beige Book report.

In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

The steel market appears to be finding a new, higher normal with the shocks of the pandemic and the Ukraine in the rearview mirror. The good news: a more profitable and consolidated post-Covid US steel industry has been able to invest in operations. That includes efforts to decarbonize. The bad news: That “new normal” could be tested. Because it’s not just domestic sheet prices that have been volatile. Geopolitics are too.

US light-vehicle (LV) sales rose to an unadjusted 1.44 million units in March, up 4.6% vs. year-ago levels, the US Bureau of Economic Analysis (BEA) reported. The year-on-year (y/y) growth in domestic LV sales came in despite a 1.3% month-on-month (m/m) decline.

Flat Rolled = 58.3 shipping days of supply Plate = 60.6 shipping days of supply Flat Rolled US service center flat-rolled steel inventories edged up in March as shipments remained low. At the end of March, service centers carried 58.3 shipping days of supply on an adjusted basis, up from 56.6 shipping days in February. […]

Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?

As the ISRI 2024 conference unfolds in Las Vegas, attendees are diving into crucial discussions shaping the future of the recycling industry. Here are the main topics being discussed: New steelmaking capacity coming online this year Export demand during this period Infrastructure spending Supply of pig iron and HBI Current logistics challenges May scrap prices […]

Last week was a newsy one for the US sheet market. Nucor’s announcement that it would publish a weekly HR spot price was the talk of the town – whether that was in chatter among colleagues, at the Boy Scouts of America Metals Industry dinner, or in SMU’s latest market survey. Some think that it could Nucor's spot HR price could bring stability to notoriously volatile US sheet prices, according to SMU's latest steel market survey. Others think it’s too early to gauge its impact. And still others said they were leery of any attempt by producers to control prices.

Drilling activity decreased in the US but rose in Canada in the week ended April 12, according to the latest data from Baker Hughes.

Total domestic aluminum mill products orders in March were up 0.2% compared to March 2023, according to the latest “Index of Net New Orders of Aluminum Mill Products” released by the US Aluminum Association (AA). This is much lower than the growth of 9.3% year over year (y/y) reported in February.

SMU’s Steel Buyers’ Sentiment Indices both rose this week.

The market appears to be taking a pause after the heavy buying that occurred in March.

Steel buyers said mills are more willing to talk price on spot orders on all the products SMU covers, according to our most recent survey data.