Tag: Long products

Hybar's new rebar mill is set to be outfitted with 16 cranes of various capacities, according to a news release from Finnish crane manufacturer, Konecranes.

Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said.

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

The decline in imports from August to September was more pronounced than license applications suggested earlier this month.

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

Nucor Corp. announced it is considering installing a new rebar micro mill in the Pacific Northwest.

Specialty steel producer Grupo Simec has permanently closed down its Republic Steel mills in Canton, Ohio, and Lackawanna, in New York state, it has emerged.

The pig iron trade is an important element to the US steel and foundry industry.

Commercial Metals Company (CMC) has unveiled its new branding as "CMC," reflecting its growth beyond metals.

Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.

Longs producer and metal recycler Gerdau reported lower second-quarter production and shipments due to several mill outages.

US steel imports look to have fallen significantly during the month of July, based off license data from the US Department of Commerce collected through July 31.

There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]

Schnitzer Steel Industries has changed its corporate name to Radius Recycling.

Antidumping and countervailing duties on imports of steel wire rod from a handful of countries will remain in place for another five years.

US steel imports climbed in June to the highest monthly level over the past 12 months, based on June import license data compiled by the US Department of Commerce. Import license applications reached 2,803,597 net tons in June, according to Commerce’s license count as of July 5. This was a 20.7% spike from the month […]

European sheet prices have declined sharply by €112-146 per metric ton ($110-144 per net ton) month-on-month (MoM), around 12-18% across all sheet products. In CRU’s latest assessment, German hot-rolled coil decreased by €125 MoM to €689 per metric ton ($680 per net ton), while Italian HR coil saw a drop of €146 to €657 per […]

Steel Dynamics (SDI) is expecting stronger earnings for the second quarter of 2023 vs. the previous quarter, but lower than the year-earlier period. The Fort Wayne, Ind.-based steelmaker released Q2 earnings guidance on June 16 in the range of $4.78 to $4.82 per diluted share. This compares with Q1’s $3.70 per diluted share and prior-year Q2 […]

US steel imports were steady from April to May, according to the latest data from the US Department of Commerce. May’s import license count – a first look at import figures for a given month, at 2,395,039 net tons – was just 0.5% higher than April’s final count of 2,382,580 tons. Compared to the same […]

Australian steelmaker InfraBuild said it could be on the hunt for steel plants in the US after closing on a $350-million asset-backed term loan.  The loan, managed by BlackRock and Silver Point Finance, will allow InfraBuild to pursue growth objectives, which include the “potential acquisition of steel assets in the United States currently owned by GFG […]

There are many great, supportive organizations in the steel and metals industry. One that continues to grow as the industry evolves is the Association of Women in the Metal Industries (AWMI).  Founded in 1981, AWMI is an international organization that was established to promote and develop the growth of women in the metal industries. AWMI […]

Commercial Metals Co.’s (CMC’s) net earnings slipped 53% in its fiscal 2023 second quarter compared with the same period a year earlier on weather issues and a planned outage. “CMC achieved strong financial results during the second quarter while managing a number of challenges, including weather-related shipment disruptions in our core geographies, costs associated with […]

Commercial Metals Co. (CMC) said it has acquired post-tension cable company Tendon Systems LLC. Suwanee, Ga.-based Tendon supplies post-tensioning, barrier cable, and concrete restoration solutions in the southeastern US. CMC said Tendon’s products are used in a variety of construction projects including multi-family residential, parking structures, industrial, and high-rise buildings. The company had revenues of […]

The CRU metallics price indicator (CRUmpi) for March increased by 7.4% month-on-month to 357.7, the highest level since last June. The main developments have been in Turkey, where the tragic earthquake initially had a negative effect on scrap buying from the largest scrap importing country, though in the second half of February this quickly turned […]

Total US mill shipments of steel products increased in January, recovering from a 23-month low the month prior. January’s shipments were the highest since last August and totaled 7.63 million tons, a 6.5% increase from December’s 7.17 million tons. Apparent supply also saw a month-on-month (MoM) increase in January, up 7.9% vs. the prior month. This analysis […]

Gerdau Long Steel North America aims to increase prices for most merchant, structural, miscellaneous beams, and piling product by $50 per ton ($2.50 per cwt). The move is effective with new orders as of Monday, March 13, the steelmaker said in a letter to customers the same day.  But orders confirmed as of the close […]

February license data indicate that steel imports will have totaled 2.19 million net tons last month, down 16.2% from January. February levels are also down 13.8% when compared to the previous 12-month average. Recall that monthly import levels declined nearly 17% month on month (MoM) in November, before rebounding in December and January. February figures […]

Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com. Monthly Key Market Indicators (KMI) improved over the past month, advancing repeatedly since hitting a recent low last November, according to the latest analysis by […]

Commercial Metals Co. has acquired metal recycler Roane Metals Group. Financial terms of the private transaction were not disclosed, in a deal guided by Carl Marks Securities LLC.  Roane Metals is a ferrous and nonferrous metals recycling company with headquarters in Rockwood, Tenn. It specializes in the purchase, processing, and sale of scrap metals from […]

Mexico has historically relied on steel sheet product imports to meet its demand as domestic suppliers, such as Ternium and AHMSA, had insufficient production capacity. But, in recent years, both Ternium and ArcelorMittal have built new capacities for hot-rolled (HR) coil in Mexico. Ternium is also in the process of building more downstream capacity and […]