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 […]
The Dodge Momentum Index has fallen for the first time this year – and after six consecutive months of gains – on uneven demand and higher costs. The index now stands at 165.8, down 5% from a revised May number of 175.1, according to Hamilton, N.J.-based Dodge Data & Analytics. “Uncertain demand for some building […]
Canada has launched an antidumping trade case against oil country tubular goods (OCTG) from Austria. The investigation by the Canada Border Services Agency (CBSA) – initiated on Wednesday, July 7 – stems from a complaint filed by Tenaris SA’s Canadian subsidiaries. “The CBSA will investigate whether the imports are being dumped and will make a preliminary decision […]
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 […]
Allegheny Technologies Inc. (ATI) and United Steelworkers (USW) union negotiators have reached a tentative four-year labor agreement, according to both the union and the company. The deal, if ratified by rank-and-file union members, would end a strike that began on March 30 – more than three months ago. The new contract – backdated to March […]
Steel Dynamics Inc. (SDI) is in the process of starting up the coating lines at its new steel mill in Sinton, Texas, a company spokesman confirmed. The paint line at Sinton has been threaded, and painting is expected to begin in approximately two weeks, he said. The mill’s galvanizing line, meanwhile, is slated to start […]
You’ll have to wait until the fourth quarter if you’re looking for flat rolled from California Steel Industries (CSI). The West Coast slab converter announced that it had closed its September order book on Thursday, July 1 – just a week after it opened the month and increased prices by $200 per ton ($10 per […]
Canada has launched an anti-dumping trade case against oil country tubular goods (OCTG) from Mexico. The probe stems from a complaint filed by Regina, Saskatchewan-based Evraz Inc. NA Canada and Concord, Ontario-based Welded Tube of Canada, according to documents from the Canada Border Services Agency (CBSA). The CBSA, which initiated its investigation on June 30, […]
Let’s talk about lead times. Because the results from our latest survey caught my attention. This is the first time in since January-February that you can maybe discern a potential peak in pricing – at least judging by that metric. Lead Times: Trend or Head Fake I’m going to display our lead latest lead time […]
Let’s talk about flat rolled and plate steel mill lead times. Because the results from our latest steel market survey caught my attention. This is the first time in since January-February that you can maybe discern a potential peak in pricing – at least judging by that metric. Lead Times: Trend or Head Fake I’m […]
California Steel Industries (CSI) has opened its flat rolled order book for September. The West Coast slab converter also has increased prices by approximately $200 per ton ($10/cwt), according to market participants. “The purpose of this letter is to inform you that CSI’s September flat rolled order book is now open,” the company said in […]
SSAB Americas aims to increase plate prices by another $50 per ton ($2.50 per cwt) – just days after lifting tags by $100 per ton. The latest increase is effective immediately on all non-contract orders, and it means SSAB’s prices are up $150 per ton within a span of only three days. The latest increase […]
Producer prices have not only recovered from the COVID-19-driven fallout, but have now overtaken pre-pandemic levels. Since the repeated decreases from February through April of 2020, the composite Producer Price Index (PPI) of all commodities from the Bureau of Labor Statistics (BLS) has seen consistent month-on-month increases. May’s index registered a 3.2% increase versus the […]
If you’re seeking a peak, keep looking. Because it wasn’t this week. Steel Market Update found that spot prices for most sheet and plate products were again higher – despite scattered reports of increased availability for some contract buyers. SMU’s benchmark hot-rolled coil prices stands $1,760 per ton ($88/cwt), up $40 per ton from last […]
Plate prices have seen an astronomical rise, but the big gains have not been enough to keep the spread between sheet and plate from ballooning. And that spread is already the inverse of what is the norm. Normally plate prices carry a premium to sheet prices – now the reverse is true. Sheet carries around a […]
USS-POSCO Industries has officially changed its name to USS-UPI, LLC. The West Coast subsidiary of Pittsburgh-based U.S. Steel said the change means its email domain is switching from ussposco.com to ussupi.com. “This transition period will occur over the next few months,” the company said in a letter to customers on Friday, June 18. USS-UPI also […]
The traditional correlations between finished steel and scrap prices have broken down this year, and historical spreads might remain off-kilter as more electric-arc furnace (EAF) mills come online globally, CRU Senior Analyst Ryan McKinley said. Crude steel output via EAFs in North America is expected to grow by about 16 million metric tonnes, approximately 20%, […]
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 […]
SMU’s Community Chat webinar with Bank of America metals and mining analyst Timna Tanners last week was our second-best attended ever. Barry Zekelman, executive chairman and CEO of Zekelman Industries, still holds the title. But Tanners gave him a run for his money. We received more questions during the webinar than we were able to […]
The energy tubulars market is still waiting for the boom flat-rolled steel prices – the sector’s primary input cost – to flow through to pipe selling prices, according to one industry expert. On the face of it, things look good. Oil prices are improving, the rig count is up dramatically versus a year ago, and […]
U.S. Steel wants to make Big River Steel the leader in non-grain-oriented electrical steels (NGOES). To that end, the Pittsburgh-based integrated steelmaker will invest $450 million at Big River’s steel mill in Osceola, Ark., to target the growing demand from the electric vehicle market. Funded entirely from cash generated at Big River, the NGOES expansion […]
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 […]
I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […]
I want to thank the National Association of Steel Pipe Distributors for giving me a chance to open their summer conference in Denver last week. I spoke about – what else, these days – steel prices. During the Q&A afterward and on the sidelines of the event, it was clear people were worried about (a) […]
Hot-rolled coil prices continue their unrelenting march upward. Steel Market Update’s benchmark hot-rolled coil price now stands at $1,590 per ton ($79.50/cwt), up $20 per ton from a week ago and up $180 per ton versus last month. Lead times remain extended at eight to 12 weeks. And SMU’s Price Momentum Indicator continues to point […]
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 […]
Much attention has been paid to how much new electric-arc furnace (EAF) flat-rolled steel capacity is being added to the North American market. Less has been written about how many tons of integrated steelmaking capacity have been taken out. An analysis by Steel Market Update indicates that the latter figure is perhaps equally significant. It […]