BlueScope plans to buy Coil Coatings from Cornerstone Building Brands for $500 million to expand its presence in painted products in the eastern US. The Australian steelmaker – parent company of sheet producer North Star BlueScope in Delta, Ohio – said the deal would complement its existing coated products business on the West Coast. The […]
Nucor plans to build its $350 million rebar “micro mill” in Lexington, N.C., in response to growth in the Southeast and in anticipation of increased demand from federal infrastructure spending. The new mill is expected to have capacity of 430,00 tons per year. Construction is slated to take roughly two years pending permits and other […]
Nucor announced today that it has entered into an agreement to fund NuScale Power, LLC, a developer of small modular reactor (SMR) nuclear plants. SMRs are nuclear reactors that can operate independently or in tandem with other modules to produce carbon-free electric power on a smaller scale and at a lower cost than traditional nuclear power. […]
Nucor announced today that it has acquired Elite Storage Solutions, a steel racking manufacturer employing 180 full-time teammates at locations in Monroe, Ga., and Chandler, Ariz. This $75 million acquisition expands Nucor’s steel racking capabilities and builds on the company’s acquisition of Hannibal Industries last year “We are excited to grow our steel racking capabilities with this acquisition of Elite Storage Solutions. […]
We are now 140 days away, and I am getting very excited about this year’s SMU Steel Summit Conference. The agenda is coming together nicely, we have several new speakers, and I continue to work on a few special projects that I think you will enjoy. The conference dates are August 22-24, and the conference will be […]
We are now 140 days away, and I am getting very excited about this year’s SMU Steel Summit Conference. The agenda is coming together nicely, we have several new speakers, and I continue to work on a few special projects that I think you will enjoy. The conference dates are August 22-24, and the conference will be […]
Nucor aims to increase plate prices by between $55 per ton ($2.75 per cwt) and $125 per ($6.25 per cwt) depending on the product. The Charlotte, N.C.-based steelmaker said the price hike was effective with new orders received on Thursday, March 31, in a letter to customers dated the same day. The company made the […]
When I first started writing Steel Market Update back in 2004, its purpose was to assist my steel buying clients by supplying information necessary for them to be proactive in their decision-making process in a volatile steel market. Its purpose did not change in 2008 when I started the newsletter as a publication for a […]
We are less than 3 weeks away from our LIVE Steel 101: An Introduction to Steelmaking and Market Fundamentals training course, to be hoested on Memphis, Tennessee on April 19-20. The workshop will include a guided tour of the Nucor Hickman mill, just across the Mississippi River in Arkansas. Attendees will be able to see first hand […]
Fuel surcharges continue to march higher along with increased steel prices and ballooning costs for raw materials such as ferrous scrap and pig iron. Case in point: Wheeling-Nippon Steel’s fuel surcharge will increase to 24% effective with shipments on Monday, April 4. “The surcharge will continue to be added to the freight on all invoices […]
Fuel surcharges continue to march higher along with increased steel prices and ballooning costs for raw materials such as ferrous scrap and pig iron. Case in point: Wheeling-Nippon Steel’s fuel surcharge will increase to 24% effective with shipments on Monday, April 4. “The surcharge will continue to be added to the freight on all invoices […]
Nucor has increased the raw materials surcharge (RMS) for customers buying steel sheet on terms linked to scrap prices. The Charlotte, NC-based steelmaker said its RMS – based on prices for busheling scrap – would be $515 per ton ($25.75 per cwt) in April, a $190-per-ton increase from prior levels. The higher RMS will be […]
We are delighted to announce that Steel Market Update’s Steel 101: An Introduction to Steelmaking and Market Fundamentals training course will be hosted LIVE on April 19-20 in Memphis, Tenn. The workshop will include a guided tour of the Nucor Hickman, just across the Mississippi River in Arkansas. Attendees will be able to see first hand all stages of […]
The war in Ukraine continues to impact the volatility in steel markets around the world. Here in the United States, we have seen steel buyers coming off the sidelines as they look to protect themselves against the possibility of being short steel. This despite flat-rolled steel inventories being at 2.72 months’ supply at the end […]
By Trade Attorney Lewis Leibowitz On Feb. 10, the Bureau of Industry and Security of the Commerce Department published a request for public comments concerning steel and aluminum exclusions under the Section 232 tariffs and quotas. Comments are due in about a week (March 28). The request for public comments did not originate from the […]
Nucor will implement a biweekly update to its current fuel surcharge effective Thursday, April 3, for some steel products. Certain divisions of the Charlotte, N.C.-based steelmaker said the move was necessary because “fuel prices are at all-time high levels,” in letters to customers dated Wednesday, March 16. SMU has seen matching letters from the company’s […]
Nucor Corp., the largest steelmaker in the U.S., expects to achieve record first quarter earnings in the range of $7.20 to $7.30 per diluted share. That’s down from earnings of $7.97 per share in the prior quarter but double $3.10 per share in the same quarter last year. Steel mill segment earnings in the quarter ending this month will […]
Nucor aims to increase base prices for steel sheet by at least $125 per ton ($6.25 per cwt) effective immediately. “We reserve the right to review and re-quote any offers that are not confirmed with either a Nucor sales acknowledgement or written acceptance by both parties,” the company said in a letter to customers dated […]
SSAB Americas has increased plate prices by $63 per ton ($3.15 per cwt) based on a raw materials surcharge mechanism unveiled last week. The Mobile, Ala.-based steelmaker said the higher prices would apply to all new spot orders as well as both new and existing contractual agreements effective April 3. The company reiterated that the […]
Flat Rolled = 54.4 Shipping Days of Supply Plate = 51.1 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories continued to recede in February, indicating that inventories may be near balance. At the end of February, U.S. service centers carried 54.4 shipping days of supply on an adjusted basis, according to […]
Steel Market Update is hosting several conferences and events over the balance of this year that you won’t want to miss. This includes our flagship conference, the SMU Steel Summit Conference which will be held at the Georgia International Convention Center in Atlanta on Aug. 22-24. We are also conducting several workshops that may be […]
Steel Market Update’s hot-rolled coil price was at $1,050 per ton ($52.50 per hundredweight) last week. Several mills are now offering hot band at $1,200 per ton ($60 per cwt). I don’t know where things will settle when we adjust prices on Tuesday. But I think it’s fair to say that prices will be significantly […]
“What a difference a war makes.” No disrespect meant to the suffering people of Ukraine, but more than one respondent to SMU’s survey this week noted the big effect the war is having on global steel prices. Steel sheet had lost nearly 50% of its value in the six months from last September to February. […]
Nucor Corp. is increasing prices for discrete plate by $40 per ton ($2 per cwt), according to letters to customers. The Charlotte, N.C.-based steelmaker made the announcement on Wednesday, March 9, along with the opening of its April orderbook for plate. All published adders and extras will also be applied. “We reserve the right to […]
It seems all the swans are black now. First we had a pandemic. Now war. You don’t need a reminder from SMU on the terrible human suffering caused by each. When it comes to steel, the result is higher raw material costs and higher prices. Pricing levels that were unimaginable a month ago, when it […]
Hot-rolled coil prices are up an average up $50 per ton ($2.50 per cwt) this week, breaking a six-month trend of flat or falling prices. And that gain might prove modest compared to what’s in store in the weeks ahead. Why? Because the war in Ukraine has the potential to shock the steel market at […]
We are delighted to announce that Steel Market Update’s Steel 101: An Introduction to Steelmaking and Market Fundamentals training course will be running LIVE on April 19-20 in Memphis, Tenn. The workshop will include a guided tour of the Nucor Steel Arkansas, situated in Blytheville, Arkansas. Attendees will be able to see first-hand all stages of production at this facility, which makes […]
U.S. Steel and Steel Dynamics notified customers of an upward revision to their galvanized steel coating extras on Monday, March 7. New USS extras go into effect on May 1, 2022, while SDI extras go into effect on April 1. “The cost to procure zinc and aluminum for our Hot Dipped Galvanized and Galvalume products […]
Nucor’s sheet mill group – which now includes California Steel Industries (CSI) – plans to increase sheet base prices by at least $100 per ton ($5 per hundredweight). The move is effective immediately and applies to all new orders, the Charlotte, N.C.-based steelmaker said in a letter to customers dated Monday, March 7. The latest […]
By Greg Wittbecker, Advisor, CRU Group Two weeks ago, I described how the aluminum industry would not run out of metal supply in 2022 despite the fears of some. Fast forward to today, and we now have the worst case scenario of the war in Ukraine likely leading to Russia being a pariah in the […]