Steel sheet processor Steel Technologies LLC is expanding its campus in Decatur, Ala., to produce steel blanks to be used in the automotive, agricultural, and consumer goods markets. The initial expansion plan has already secured a commitment for approximately 50,000 tons of coil and blank processing, according to a LinkedIn post from the company. A […]
Nucor Corp. announced Wednesday plans to build two new galvanizing lines, with specific details for one line to be constructed at the Nucor Steel Berkeley sheet mill in Huger, S.C. The $425 million investment will create more than 50 full-time jobs, with an expected start-up date of mid-2025. Nucor said this expansion will provide more […]
Prices for steel sheet remained mostly flat again this week, up or down modestly depending on the product. Hot-rolled coil was up $5 per ton ($0.25 per cwt), cold-rolled was down $10 per ton, and both galvanized and Galvalume base prices were down $5 per ton. What we’ve seen for the last month is an […]
We’ve seen a wave of mill idlings and outages this fall. But steel buyer reaction to date has been subdued. The yawn now in response to all those tons coming out of the market stands in stark contrast to the almost hysterical reaction to downtime at even the smallest producers in early 2021. Remember the […]
Well, I guess it’s the official outage and idling season. In the month of September alone we’ve confirmed a half dozen or more maintenance outages (some pulled forward) and temporary idlings. Why? It sure looks like some steelmakers are trying to deal with declining demand and uncertain market conditions. The hope? Somewhat of a stopgap measure […]
Nucor Corp. is pursuing LEED v4 for Building and Design certification for its new plate mill in Brandenburg, Ky. With categories of sustainable performance and climate change, and third-party transparency and reporting requirements, the certification is even more rigorous than previous LEED rating systems, the Charlotte, N.C.-based steelmaker said in a press release. “Sustainability has […]
Sheet prices drifted sideways to down this week, while plate prices fell substantually following the Nucor price decrease announcement on Monday. SMU’s hot-rolled index eased an average of $15 per net ton this week to $770 per ton. This is now tied with our late August price for the lowest HRC price seen since November […]
US plate prices fell this week, responding to Nucor’s latest price announcement on Monday, Sept. 19. Price tags remain under pressure and further declines are expected through the fourth quarter as spot demand is likely to remain limited. But few expect Nucor’s latest plate price announcement to generate any immediate business, sources told SMU, speculating […]
Nucor Corp. is significantly lowering plate prices effective immediately, largely impacting its November plate order book. The Charlotte, N.C.-based steelmaker said discrete plate prices, as well as prices for normalized plate, will be $120 per ton ($6 per cwt) lower. Prices for certain cut-to-length items are unchanged from its Sept. 2 price announcement. “We reserve […]
Has the US steel market reached another downward inflection point? I ask because our survey data has turned a little bearish following an upsurge in sentiment that, in retrospect, might have crested not long after Steel Summit. It wouldn’t be the first time that we saw post-conference euphoria in late August fizzle out in September. Last […]
Nucor Corp., the largest steelmaker in the US, expects lower sequential results for its third quarter ending Oct. 1. The Charlotte, N.C.-based steelmaker expects earnings of $6.30 to $6.40 per diluted share in Q3, according to earnings guidance figures released on Wednesday, Sept. 14. That’s down from the record of $9.67 per diluted share in […]
Nucor Corp. is urging buyers to be prepared in case of a strike by railroad workers. The Charlotte, N.C.-based steemaker warned in a Sept. 13 letter to customers that a Sept. 16 rail walkout is possible and provided some details around the situation. A Presidential Emergency Board was established to help the Class I railroads […]
It looks like domestic mills are trying to establish a floor at around $800 per ton ($40 per cwt). They’ve arrived there by different means. And whether they’ll be successful remains to be seen. Suffice it to say that some mills that were very, very aggressive in July and August in the spot market aren’t […]
US plate prices were unchanged this past week but remain under pressure. Spot demand is limited, with sources noting that Nucor’s efforts to keep prices flat might be short-lived. Recall that Nucor announced it would keep some plate prices flat and decrease certain cut-to-length items as much as $150 per ton ($7.50 per cwt) with the […]
It’s time to forecast 2023, and I’d like to throw out one radical possibility – or at least one worth thinking about. What if there are no black swans? I know, that possibility is so remote that it’s almost laughable. We haven’t had many normal years since 2018. That year gave us the shock of […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
Nucor Corp. aims to keep prices for some plate products flat and to decrease prices on certain cut-to-length items by $50-150 per ton ($2.50-7.50 per cwt). The Charlotte, N.C.-based steelmaker announced the move with the opening of its October order book for plate. “We reserve the right to review and re-quote any offers that are […]
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and […]
Hot rolled and galvanized prices continue to decline but many continue to go unchanged, members said during this month’s call with HARDI’s Sheet Metal/Air Handling Council. Much like July, members are currently seeing strong demand and foresee stability in the near future. It’s been an eventful month to say the least. Nucor and Cleveland-Cliffs both […]
Flat-rolled steel prices were steady to up based on the data points SMU collected this week. There’s undoubtedly been pressure from recent mill price hikes, but it’s still far too early to tell if they will stick or if this is just a blip. Sheet prices rose for each of our products this week. The […]
Nucor Corporation plans to install an air separation unit at its Huger, South Carolina facility. The investment was announced as a contribution to the mill modernization undertaking. The air separation unit (ASU) will supply industrial gases for steelmaking operations. Currently, Nucor Steel Berkeley is under a long-term agreement for its industrial gas supply. However, the […]
Stelco Inc. CEO Alan Kestenbaum got candid with Steel Market Update’s (SMU) Michael Cowden during the third fireside chat of the 2022 SMU Steel Summit conference. This year was Kestenbaum’s first time speaking at the Summit. Forecasting For the Near Future Though we’ve already seen prices skyrocket and dip back down, Kestenbaum clued us in […]
NLMK USA is seeking to increase spot base prices for carbon steel sheet by at least $75 per ton ($3.75 per cwt). The price increase is effective immediately and applies equally to all new orders of hot-rolled, cold-rolled, and coated products in North America, the company said in a letter to its customers on Friday, […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
Cleveland-Cliffs Inc. aims to increase spot prices for carbon steel sheet by at least $75 per ton ($3.75 per cwt). The move is effectively immediately and applies to equally to all new orders of hot-rolled, cold-rolled and coated products in North America, the company said in a press release on Wednesday, Aug. 24. It comes […]
US plate prices edged down marginally this week, declining for the third straight week. The easing was driven by a tightening of the range, though sources feel pricing has flattened. The repeated declines are not exactly a surprise given plate prices have been holding an unsustainable premium over coil, while buying remains strategic and mainly hand-to-mouth. […]
Sheet prices were mixed this week as market participants continued to debate whether a recent round of price hikes had stuck. While some said the increases would provide a floor and prevent further price erosion, others said prices were more likely to resume their downward trend in the weeks ahead. There were also questions about […]
Flat Rolled = 54.7 Shipping Days of Supply Plate = 63.8 Shipping Days of Supply Flat Rolled US service center flat rolled inventories declined slightly in July as service centers worked to align inventories with slowing demand. At the end of July, service centers carried 54.7 shipping days of supply, down from 55 shipping days […]
We had a big development this week with London-listed Russian steelmaker Evraz Plc announcing plans to sell its North American operations. A move like this has been rumored for some time. We’ve heard versions of it going back to Russia’s full-scale invasion of Ukraine in late February. Still, it was something of a shock to […]
Steel Market Update is pleased to share this new Premium content – an index comparing lead time and demand data – with Executive members. For information on upgrading to a Premium-level subscription, email Info@SteelMarketUpdate.com. Apparent demand for flat-rolled steel in the US turned in our early August reading, though it’s too early to note if […]