Ferrous scrap prices are down again in May by roughly $30 for obsolete grades and $40 for prime grades, report Steel Market Update sources. May marks the fourth month this year that has seen scrap prices decline. With the mills reportedly cranking out steel at over 80 percent of their capacity, the apparent weakness in […]
AK Steel is not too worried about new steel capacity stealing market share. New carbon steel capacity coming on line is still several years away, said President and COO Kirk Reich. Much of it is not “new” but rather older restarted facilities that AK Steel competed with in the past, and some of that capacity […]
“A somewhat challenging flat-rolled price environment” is how Steel Dynamics CEO Mark Millett described the first quarter of 2019. SDI posted net income of $204 million in the first quarter and sales of $2.8 billion. Lower steel prices impacted sales resulting in 3.0 percent decline sequentially. Operating income for the company’s steel operations fell 22 […]
Demand for long products and tubular goods has seen strong growth, but sheet products are declining. This analysis by SMU staff is based on data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce (DoC). The analysis summarizes total steel supply by product from 2003 through February 2019 and year-on-year […]
We thought it would be a good idea to share the agenda of a typical Steel 101: Introduction to Steel Making & Market Fundamentals workshop so you can get a feel for what we cover. Our instructors each have decades of steel experience as metallurgists, purchasing experts, sales, marketing and market intelligence. Our next workshop […]
By CRU North America Analyst Ryan McKinley U.S. long product prices have come under downward pressure, driven primarily by persistently high inventory levels. This inventory build-up has been compounded by an increase in import levels in March relative to the prior month, and consistently wet weather in many regions of the U.S. has delayed any […]
Barbara R. Smith, president and chief executive officer of Commercial Metals Company, will be named AIST Steelmaker of the Year at AISTech 2019 — The Iron & Steel Technology Conference and Exposition. One of AIST’s highest honors, the Steelmaker of the Year Award is given to an industry leader who has had significant impact on […]
Year over year, total rolled product imports in March were down by 11.2 percent, measured as a three-month moving average (3MMA). This early look at March’s import volume is based on Commerce Department license data (see explanation below). Beginning in January 2018, we expanded this import analysis to include all major steel sectors: sheet, plate, […]
Ferrous scrap prices for June have settled down another $30/GT, surprising a market that was expecting little or no decline this month and adding further pressure to already weak finished steel prices. Scrap prices have been on a downward trajectory since January. The drop in scrap prices this month was caused by low mill demand […]
Ferrous scrap prices for June have settled down another $30/GT, surprising a market that was expecting little or no decline this month and adding further pressure to already weak finished steel prices. Scrap prices have been on a downward trajectory since January. The drop in scrap prices this month was caused by low mill demand […]
Commercial Metals Company reported net earnings of $14.9 million on net sales of $1.4 billion for the second quarter of its fiscal 2019 year ending Feb. 28, 2019. Revenue for the quarter increased 33 percent year-over-year due to favorable market conditions and strategic growth initiatives, including completion of the Gerdau S.A. acquisition in November. The […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories through December. Table 1 shows total supply to the market in three months through December and in 12 months through December for the four product groups and the 16 subcategories. Supply to the market is the total of domestic […]
Key market indicators were strong in February, but trends have been deteriorating for a year. This report summarizes 36 data streams that we believe critically describe the state of and provide forward guidance for the steel market. The government statistics departments are gradually catching up after the shutdown, but their revised schedules indicate that it […]
Steel Market Update is sharing this Premium content with Executive-level subscribers in this issue. For more information on upgrading to a Premium-level membership, email info@SteelMarketUpdate.com Steel Market Update’s analysis of Key Market Indicators shows that U.S. economic trends deteriorated in April to the worst level in 27 months. This report is designed to be a […]
A strong economy and record profits are stimulating expansion in the U.S. steel industry. Often crediting President Trump for “leveling the playing field” with steel imports, companies like U.S. Steel and Nucor are taking the opportunity to reinvest their windfall in new and upgraded facilities. Adding capacity in a world that is struggling with steel […]
Rolled product imports increased by 4.5 percent in January, calculated as a three-month moving average (3MMA) year over year. This early look at January’s import volume is based on Department of Commerce license data (see explanation below). Beginning in January 2018, we expanded this import analysis to include all major steel sectors: sheet, plate, longs […]
Section 232 tariffs propelled ArcelorMittal to its best results in nearly 10 years, the company reported to analysts and investors today. The 25 percent tariffs on steel imports helped drive up steel prices, adding to company revenue from its U.S. assets. Average steel selling price in North America rose 15 percent year-over-year. Net income for […]
Key Market Indicators in January, indicators of the present situation, remained strong, but trends deteriorated to the weakest level in two years. This report summarizes 36 data streams that we believe critically describe the state of and provide forward guidance for the steel market. Due to the government shutdown, 13 of the 36 indicators were […]
Steel Dynamics has announced additions and changes to its senior leadership team. Two new positions have been created to support SDI’s presence in the Southwest and Mexico. Miquel Alvarez will join Steel Dynamics in the new position of Senior Vice President, Southwest and Mexico. He will be responsible for the comprehensive business development and partnerships […]
It is so rare that I get to spend two weeks in the office, and I think I am going to be here for another week or so. At the end of the month, I will be in Mississippi to conduct one of our Steel 101 workshops. The Starkville workshop is close to being sold […]
The service center sector will witness the return of a familiar old name in the new year. Norfolk Iron & Metal Co. has closed on its acquisition of O’Neal Flat Rolled Metals (OFR), which will now go to market under its former moniker Metalwest. Norfolk Iron purchased OFR from O’Neal Industries, based in Birmingham, Ala. […]
Demand for long products is booming, plate products are doing OK, sheet products are flat and tubulars are cratering. This analysis by SMU staff is based on data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce (DoC). The analysis summarizes total steel supply by product from 2003 through October […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories through October. Table 1 shows total supply to the market in three months through October and in 12 months through October for the four product groups and the 16 subcategories. Supply to the market is the total of domestic […]
Editor’s note: The following analysis of the U.S. rod and bar market was contributed by CRU Steel Analyst Ryan McKinley. Steel Market Update will periodically expand its coverage of the steel market with long products content from CRU as an added benefit to our members. U.S. mills announced wire rod price increases of $1.50/cwt across […]
The year 2019 is shaping up to be a special year for Steel Market Update and our customers. Steel Market Update is much more than a source of market intelligence and a supplier of spot pricing for the flat rolled and plate steel markets. Over the years, SMU has developed a number of highly successful […]
The year 2019 is shaping up to be a special year for Steel Market Update and our customers. Steel Market Update is much more than a source of market intelligence and a supplier of spot pricing for the flat rolled and plate steel markets. Over the years, SMU has developed a number of highly successful […]
Steel Market Update is sharing this Premium content with Executive members in this issue. For more information about upgrading to a Premium-level subscription, email info@SteelMarketUpdate.com. This early look at November import license data shows that total rolled product imports declined by 17.3 percent year over year, calculated as a three-month moving average (3MMA). Imports of […]
This is the first time we have done this analysis since our April publication and we were surprised that the results for sheet and strip products weren’t as good as we expected. Our analysis is based on data from the American Iron and Steel Institute (AISI) and the U.S. Department of Commerce (DoC). The analysis […]
Norfolk Iron & Metal Co., a full-line steel service center, and O’Neal Industries Inc. (ONI), the largest family-owned group of metals service centers in the United States, have entered into a definitive agreement in which Norfolk Iron will acquire O’Neal Flat Rolled Metals, LLC, a wholly-owned subsidiary of ONI. The companies expect to close the […]
By CRU Senior Analyst Erik Hedborg Iron ore prices have lifted since last week, primarily due to concerns over BHP suspending operations on its Pilbara network. [Editor’s note: BHP suspended rail operations in Western Australia after it was forced to deliberately derail a runaway ore train on Nov. 5.] This caused iron ore prices to […]