US steel mill shipments slip YTD through October: AISI
Domestic steel mill shipments dipped year-to-date (YTD) through October from a year earlier, according to revised American Iron and Steel Institute (AISI) data.
Tag: domestic steel
Final thoughts
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.
Final thoughts
Thursday felt eerily quiet after a frenzy of steel and financial market news on Wednesday.
U.S. Steel follows Nucor, guides to lower Q4 profits
U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.
US HRC now nearly $300/ton more expensive than imports
US hot-rolled coil (HRC) prices continued their upward movement this week, distinctly outpacing increases for offshore product once again. Domestic tags are now 27% more expensive than imports - the widest pricing gap in nearly two years.
Apparent steel supply increased in October
US apparent supply increased to 8.11 million net tons in October, up 4% compared to 7.82 million tons in September, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).
AISI: US raw steel output falls but up in three regions
Domestic steel production slipped for the week ended Dec. 9 but rose in three regions, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 11.
US HRC now $270/ton more expensive than imports
US Hot-rolled coil (HRC) prices keep rising on the heels of continued mill hikes, outpacing increases for offshore product. Domestic tags are now 26% more expensive than imports, the widest pricing gap since January 2022.
Tampa Steel Conference will be here before you know it!
The 2024 Tampa Steel Conference is less than two months away. It is one of the premier domestic steel conferences and a great compliment to our record-breaking SMU Steel Summit this past August.
AISI: Two regions see boost in raw steel output
Raw steel production in the US rose in the week ended Dec. 2, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 4.
Final thoughts
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 […]
Bell: Buy clean programs need a single carbon emissions standard for steel
The Biden administration’s climate ambitions are laudable. Buy Clean programs have the potential to meaningfully reduce CO2 emissions, supporting the American steel industry and its workers. Buying clean steel In February 2022, the administration launched the federal Buy Clean initiative and established its Buy Clean Task Force. These programs prioritize the use of American-made, low […]
HRC futures: The most wonderful time of the year
Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.
US HRC remains $200/ton more expensive than offshore product
US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.
AISI: Southern region gets boost in raw steel production
Raw steel production in the US inched up in the week ended Nov. 18, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 20.
SSAB’s Jeff Moskaluk on Wind's Flurry of Opportunity for Steel
SMU discussed wind energy, a promising end-use market for steel, with SSAB Americas’ SVP and CCO Jeff Moskaluk.
US HRC Now Theoretically ~$200/ton More Expensive Than Offshore Imports
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.
AISI: Raw Steel Output Down Across All Regions
Raw steel production in the US decreased in the week ended Nov. 11, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 13.
US Hot Rolled Prices Surge Past Offshore Product
Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.
GSA Announces $388M for Clean Steel Projects
On Nov. 6, the US General Services Administration (GSA) announced $2 billion in funding for 150 construction projects that use cleaner construction materials, including steel.