We welcome Michael Cowden to Steel Market Update next week as the guest speaker for our SMU Community Chat. The webinar will be held on Wednesday, Jan. 13, at 11 a.m. ET. The webinar is free to anyone who is interested in the flat rolled and plate steel markets. Joining Michael will be SMU President […]
Steel Market Update is pleased to announce that veteran steel reporter Michael Cowden has become the newest member of the Steel Market Update team. Michael has joined SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is well respected within […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
Steel Dynamics announced leadership appointments for its new Sinton Mill, Columbus Flat Roll Steel Division and a new position for SDI’s flat roll steel metallics strategy. Dennis Black will become the General Manager of the Southwest-Sinton Flat Roll Division, effective Feb. 1, 2021. Black will be responsible for operations at the new Sinton Texas Flat […]
After reaching bottom in June, due largely to the global pandemic, mill shipments and supply of sheet products have since maintained a slow but steady upward trajectory. This analysis is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce. The analysis […]
Editor’s note 11/17/20: The data in the “Supply Tons YTD” column on Table 3 didn’t populate correctly, and therefore, was in error. Table 3 has now been updated accordingly. Mill shipments and supply of sheet products continue to see slight yet steady growth since reaching bottom in June. This analysis is based on steel mill […]
Growing up I was a bit of a history nerd and my original intention was to be a political science major when I entered Hamline University where I went to college. Over time I morphed into a bit of a political nerd, so elections are exciting times for me. They may not be for many […]
By CRU China CEO John Johnson and Economist Yingrui Wang Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium level subscription, email Info@SteelMarketUpdate.com. China’s Five-Year Plan (FYP) is a key guide to the strategic direction of China. In this Insight we explain the significance […]
By CRU Principal Analyst James Campbell, from CRU’s Long Products Monitor Most long product prices around the world increased this month as the recovery in demand continues. For some markets and products, the increase in supply has been outpaced by demand. Wire rod remains the strongest product right now as the increase in construction activity […]
By CRU Principal Analyst Josh Spoores and Senior Analyst Ryan McKinley, from CRU’s Steel Monitor Strong underlying demand continues to provide substantial support to finished steel prices in the USA. Sheet prices have risen at their quickest pace since CRU started tracking them and, while there was little change m/m for long products, mills have […]
By CRU Principal Analyst Josh Spoores and Senior Analyst Ryan McKinley, from CRU’s Steel Monitor Strong underlying demand continues to provide substantial support to finished steel prices in the USA. Sheet prices have risen at their quickest pace since CRU started tracking them and, while there was little change m/m for long products, mills have […]
Editor’s note 11/3/20: Some of the data as originally published in Table 1 was incorrect due to a spreadsheet error (specifically the change in shipments 3M Y/Y column). The table has been updated with the correct information below. Mill shipments and supply of sheet products have turned, albeit slightly, since reaching bottom in […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor Reflecting a basket of finished steel prices, CRU’s global finished steel CRUspi reached 162.9, its highest level since May 2019. This indicator, which covers Asia, Europe, and North America, increased 5.2% m/m and is now up 9.9% y/y, the first y/y increase since November 2018. […]
Resilient construction demand enabled Commercial Metals Company to weather the COVID-19 crisis without disruption to productivity. CMC’s fourth-quarter FY 2020 earnings totaled $67.8 million, a 6.5 percent increase from the third quarter. Consolidated net sales totaled $1.4 billion, with sequential increases in both the North America and Europe segments. Net sales for the year reached […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) was unchanged m/m in October at 225.6 following large price increases the prior month. Supply in many markets became more available as prices rose, and this helped prevent additional upside pressure. For November, market sentiment is that prices […]
By CRU Principal Analyst James Campbell from CRU’s Long Products Monitor Global long product prices increased in many markets this month as strengthening demand combined with higher costs and for some products in particular. Strength was not uniform however; prices were weaker in Southeast Asia and China, the latter due to weaker sentiment following lower […]
Building on the success of Steel Market Update’s Virtual Steel Summit in August, which attracted more than 900 attendees to the COVID-safe online event, SMU will host a virtual version of its popular Steel 101 Workshop on Oct. 20-21 using a similar online platform. SMU’s team of expert instructors will describe the structure of the steel […]
ArcelorMittal’s divestment of U.S. assets to Cleveland-Cliffs completes the company’s $2 billion asset portfolio optimization and strategically repositions its North American platform. “This transaction is a unique opportunity for ArcelorMittal to unlock significant value for shareholders while retaining exposure to the North American economy through our high-quality NAFTA assets alongside a participation in what will […]
Total rolled product imports in August were down by 28.0 percent on a three-month moving average (3MMA) basis. This was the 10th consecutive month in which imports were down by more than 20 percent compared to the same time last year. This early look at August’s import volume is based on Commerce Department license data […]
By CRU Research Analyst Eduardo Tinti, from CRU’s Steelmaking Raw Materials Monitor The iron ore price rose further last week and is now approaching the $130 /dmt mark as demand from Chinese steel mills remains strong and seaborne supply declined w/w. On Tuesday, Sept. 8, CRU assessed the 62% Fe fines price at $128.0 /dmt, […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 9.9 percent m/m in September to 225.5. Rising steel demand internationally in combination with tighter markets has driven relatively large price increases in every market we assess. Market sentiment is bullish for October and, barring any […]
China’s July crude steel output jumped 1.9 percent from June and 9.1 percent from a year ago to 93.36 million metric tons, according to the National Bureau of Statistics. Steel demand rallied after declining during the pandemic-induced shutdowns and is now benefiting from Chinese stimulus measures that include infrastructure building and housing construction. Average daily […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor Steel markets have recovered from the depths of Covid-19 global disruption, but this has varied in pace across regions and has been stop-start in many. Indeed, as measured by CRU’s global finished steel CRUspi, finished steel prices bottomed in May at 129.3, the lowest reading […]
Commercial Metals Company, a long products producer, is adding a third micro mill that will make merchant bar quality products through a continuous production process that will utilize renewable energy. “We are excited by the tremendous promise of CMC’s third micro mill. This is a smart growth initiative that feeds the large underlying West Coast […]
Mill shipments and supply of sheet products began to turn around in June. This analysis based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce. The analysis summarizes total steel supply by product from 2008 through June 2020 and year-on-year changes. The […]
Steel Market Update is pleased to share this Premium content with Executive subscribers. For more information on how to upgrade to a Premium subscription, email Info@SteelMarketUpdate.com. July was the ninth consecutive month where imports were down by more than 20 percent compared to the same month last year, according to the latest Commerce Department data. […]
Learning to do more with less during the COVID crisis is bringing structural changes to ArcelorMittal, said Aditya Mittal, president and CFO of the world’s largest integrated steel and mining company, during today’s second-quarter report to analysts and investors. Without offering specifics about which assets will be affected in pursuit of cost savings, Mittal said […]
The trough for steel volume, particularly for flat rolled steel, has passed and the second half looks promising, said Steel Dynamics CEO Mark Millett. Back orders are strong and order intake rates have picked up due to increasing demand as businesses resume operations following COVID-19 shutdowns. “It is still not possible to determine the full […]
NLMK Group reported a 2 percent year-over-year increase in sales during the second quarter of 2020 for total sales of 4.4. million metric tons. The increase was attributed to higher exports of slab and pig iron. Sales declined 3 percent from Q1 2020. Overall steel output declined to 3.9 million tons as a result of […]