On Monday, Nucor announced their intention to acquire Gallatin Steel and its approximately 1.8 million tons of hot rolling capacity. Today, AK Steel and Steel Dynamics (SDI) completed the purchase of the Severstal North America assets. The biggest pieces of the Severstal deal are the Dearborn steel mill, which went to AK Steel, and the Columbus […]
On Monday, Nucor announced their intention to acquire Gallatin Steel and its approximately 1.8 million tons of hot rolling capacity. On Tuesday, AK Steel and Steel Dynamics (SDI) completed the purchase of the Severstal North America assets. The biggest pieces of the Severstal deal are the Dearborn steel mill, which went to AK Steel, and the […]
NLMK USA second quarter sales increased 18 percent quarter over quarter to 540,000 tonnes (595,238 net tons). Revenue increased 13 percent q/q to $499 million. NLMK Indiana ran at 81 percent capacity in the second quarter. Profitability declined due to narrower spreads between prices for slabs and rolled steel products. NLMK Group sales totaled 3.83 […]
Today is the last day of July. During the past 30 days or so we have been giving our Executive Level subscribers (our normal newsletter members) access to Premium Level content and supplemental newsletters/articles. There are two Premium articles in tonight’s newsletter and you can recognize them as we have put a premium logo in […]
NLMK USA sold 538,000 tonnes (593,033 net tons) of steel in the second quarter of 2014, an increase of 17.8 percent following low sale volumes in first quarter due to unfavorable weather conditions. Steel sales for the first half of 2014 totaled 994,000 tonnes (1.095 million net tons) due to stronger US demand, an increase […]
For those of you who don’t realize it – Steel Market Update is conducting our mid-July market analysis this week. I have added a couple of questions about the sale of the Dearborn and Columbus steel mills. I will send out a reminder email first thing in the morning on Wednesday. If you receive an […]
The U.S. steel mills exported 1 million tons of steel during the month of April. This is within the 12 month moving average and only slightly higher than the 1,041,387 net tons shipped in April 2013. During the same month (April 2014) foreign imports rose by 999,557 net tons compared to the same period one […]
I was asked a number of times today – in a couple of different ways – why Steel Market Update has not adjusted our Price Momentum Indicator from Neutral where it has been for about one month to Lower. The reality is we have been watching spot flat rolled pricing quite closely to see at […]
After a weak start to 2014 business activity is going strong in May said participants on the HARDI monthly galvanized steel call. Steel Market Update (SMU) joined HARDI wholesalers who supply galvanized steel to the construction trades to talk about concerns in the industry including domestic mill price trends as well as the impact of […]
NLMK announced improved sales for the Group and NLMK USA in its Q1 2014 US GAAP results. The Group’s steelmaking capacity utilization ran at 92 percent through first quarter with steel sales up 8 percent quarter over quarter to 3.866 million tons. Crude steel production dropped 4 percent quarter over quarter due to seasonal factors […]
The “Buy America” plan for federally subsidized projects is problematic for two major U.S. steel mills owned by foreign companies. The push to use American sourced steel products in infrastructure projects is keeping NLMK USA and California Steel Industries (CSI) out of the running for bids on projects—a problem the companies are hoping to rectify […]
The “Buy America” plan for federally subsidized projects is problematic for two major U.S. steel mills owned by foreign companies. The push to use American sourced steel products in infrastructure projects is keeping NLMK USA and California Steel Industries (CSI) out of the running for bids on projects—a problem the companies are hoping to rectify […]
There has been a debate which goes back to the 1930’s regarding what “Buy American” means when it comes to steel products. The issue is whether those mills who do not make steel, such as NLMK USA (in their Pennsylvania plant) and California Steel Industries as well as the former ThyssenKrupp plant in Calvert, Alabama […]
Steel Market Update published our special data on March steel imports which are produced by product (slabs, plate in coil, hot rolled, cold rolled, galvanized and Galvalume), by port of entry and by the country of origin. The full data is available for review by our Premium Level subscribers. Below is a portion of the […]
When Nucor announced their earnings on April 24th they held a conference call with analysts to discuss their business and to make statements about their company, the markets they serve and about the economy in general. John Ferriola, Nucor’s Chairman, CEO and President, provided an opening statement during which he made the following remarks regarding […]
Each week during the month Steel Market Update (SMU) checks the license data from the U.S. Department of Commerce regarding imports of foreign steel. Based on the data compiled each week we then project where we think imports will end up at the end of the month. April license data is suggesting we could see […]
Each week during the month Steel Market Update (SMU) checks the license data from the U.S. Department of Commerce regarding imports of foreign steel. Based on the data compiled each week we then project where we think imports will end up at the end of the month. April license data is suggesting we could see […]
Earlier this week Steel Market Update published slab receipts and flat rolled sales for Novolipetsk (NLMK). We inadvertently used the Russian flat rolled figures in our comparison rather than the US data. Below is a correction to the article and table. We apologize for our error. Hot rolled steel tonnage sold by NLMK USA during […]
The U.S. Department of Commerce released preliminary steel import census data for March and reported total steel imports at 3,218,914 net tons (NT). Compared to February, March imports are down by 2.0 percent or 66,960 NT. Compared to the same month one year ago, total March 2014 imports are up 25.2 percent or 648,510 NT. […]
Novolipetsk (NLMK) reported flat rolled steel sales for their USA division.The parent company also provided slab sales from Russia to the USA division by quarter going back to Q1 2012. Hot rolled steel tonnage sold by NLMK USA during the 1st Quarter 2014 was 680,000 tons (net tons). Cold rolled sales totaled 403,000 tons and […]
More flat rolled steel mills have joined in and raised flat rolled steel prices over the past couple of days. On Friday, April 4th USS/POSCO sent a letter to their customers advising them that flat rolled steel base prices would rise by $30 per ton ($1.50/cwt) on all products. UPI opened their June order book […]
On Friday morning, April 4th, Nucor became the first mill to announce a new wave of flat rolled steel price increases. In a letter to their customers, the Nucor Sheet Mill managers advised that effective immediately, minimum base prices would be as follows: Hot Rolled = $34.25/cwt ($685 per ton)Cold Rolled = $40.75/cwt ($815 per […]
Steel Market Update began this week with an article on Sunday evening titled, “This Could Be a Tumultuous Week.” Looking back over the past five days that title was an understatement. This week has been tumultuous times ten. Why? U.S. Steel can’t seem to catch a break. They now have steelmaking operations temporarily suspended at […]
In an email sent late in the afternoon on Monday, March 17th, ArcelorMittal USA announced a price increase on all of their new flat rolled orders, with specific base prices at $33.00 for hot rolled, $39.50 for cold rolled, and $39.50 for galvanized. The mill justified their increase by stating “Despite the recent drop in […]
According to recently released data from Novileptsk (NLMK), their North American operations sold 737,000 net tons of flat rolled steel products during the 4th Quarter 2013. This includes sales of hot rolled, cold rolled and galvanized steels. The new number represents an improvement of 240,000 tons compared to the 4Q 2012 (+30 percent). For the […]
Yesterday (Wednesday the 19th) Nucor announced a price increase on their new orders and listed base prices of $33.00/cwt on hot rolled, $39.50/cwt on cold rolled, and $39.50/cwt on galvanized. These are the same levels that ArcelorMittal, NLMK USA, and Severstal announced earlier in the week. California Steel Industries (CSI) also announced an increase on […]
The steel market, in particular the steel service center market, has been anticipating a flat rolled price increase announcement for the past few weeks. The fact that it was ArcelorMittal USA leading the way should not come as a surprise. The mills that have few to no spot tons to sell are AK Steel, US […]
In an email sent late in the afternoon on Monday, March 17th, ArcelorMittal USA announced a price increase on all of their new flat rolled orders, with specific base prices at $33.00 for hot rolled, $39.50 for cold rolled, and $39.50 for galvanized. The mill justified their increase by stating “Despite the recent drop in […]
Russia and the Ukraine are major steel producers and exporters of steel to the rest of the world. Under the current political upheaval associated with these two countries, Steel Market Update thought it might be interesting for our readers to understand what steel products are being imported from the two countries into the United States. […]
The domestic steel mills did not announce any flat rolled steel price increases during the month of February. The last price increase announcement was made by USS/POSCO to their West Coast customers on January 30th. The last announcement on the East Coast was ArcelorMittal Dofasco which adjusted prices to take into account the lost value […]