Nucor, the industry’s largest steelmaker, is expecting a significant increase in earnings in the first quarter of 2021 following a strong fourth quarter with net earnings of $398.8 million. Fourth-quarter earnings outpaced the third quarter at $193.4 million and Q4 2019 at $107.8 million due primarily to higher pricing at Nucor’s sheet and plate mills. […]
Cracks might be forming in the groundwork that has to date led U.S. flat-rolled steel prices to their highest point on record. Whether they are big enough to send towering prices tumbling down or merely a distraction remains to be seen, markets sources generally agreed. Prices have nowhere to go but up in the short […]
Steel Dynamics Inc. President and CEO Mark Millett has been elected to serve as board chairman of the Steel Manufacturers Association for the lobbying group’s 2021-22 term. “The SMA is uniquely positioned to represent electric arc furnace steel producers, who over the last 30 years have emerged as the dominant force in North American steelmaking […]
We continue to receive registrations for the 32nd annual Tampa Steel Conference to be held virtually next week on Feb. 2. We expect over 400 attendees once the conference opens. Here are some of the companies that registered just this week, those with an asterisk (*) next to their name means they have more than one person […]
Evraz North America has followed Nucor and SSAB Americas in increasing plate prices by at least $80 per ton ($4/cwt). The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 26. “We reserve the […]
Nucor and SSAB Americas aim to increase plate prices by another $80 per ton ($4/cwt). Effective immediately, Nucor’s new ex-works base price for cut-to-length grade A36 plate is $1,020 per ton ($51/cwt), up from $940 per ton on Jan. 5, according to a letter sent to customers on Tuesday. The new base price for quenched-and-tempered A514 […]
As prices soar to historical high levels, we are constantly probing, looking for signs of a crack in flat rolled or plate steel prices. Nucor announced higher plate base prices today with discrete plate being referenced at $51.00/cwt ($1,020 per ton). Here are some of the “interesting” comments we received from steel buyers this week: […]
I received a call from Cleveland-Cliffs in response to an inquiry I had made a couple of weeks back regarding the #6 blast furnace at their Cleveland steel mill. Cliffs wanted to make sure I understand as the #6 blast furnace comes back online that it is not to increase production, only to replace the […]
I received a call from Cleveland-Cliffs in response to an inquiry I had made a couple of weeks back regarding the #6 blast furnace at their Cleveland steel mill. Cliffs wanted to make sure I understand as the #6 blast furnace comes back online that it is not to increase production, only to replace the […]
Earlier this week I received a note from one of our readers regarding the plate price index and the changes we recently made to the index (FOB Mill vs. Delivered pricing). We were asked how we are accomplishing this, and how do our members reconcile the historical data that was based on delivered pricing versus […]
Earlier this week I received a note from one of our readers regarding the plate price index and the changes we recently made to the index (FOB Mill vs. Delivered pricing). We were asked how we are accomplishing this, and how do our members reconcile the historical data that was based on delivered pricing versus […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
“It’s not how much it cost, it’s do I have steel to make my parts…?” That was one of the comments discussed this morning during our HARDI galvanized steel conference call. Some of the mechanical contractors have jobs to complete, and they need steel to finish. However, others are trying to hold back on buying […]
On Tuesday, Jan. 14, USS POSCO notified customers of an upward revision to their galvanized steel coating extras, to apply on all new orders effective immediately. UPI is the fourth mill to revise their galvanized coating extras recently, following NLMK, CSI, and Nucor. SMU has done an analysis on the old and new extras, provided […]
By Greg Wittbecker, Advisor, CRU Analysis Like the steel industry, the aluminum industry has long recognized the economic value of scrap. Every time virgin aluminum prices have risen, buyers have accelerated substitution of scrap for virgin metal. Now, economic sensibility has been married to the new focus on sustainability. Consumer-facing market segments are leading the […]
Nucor Corporation announced that Craig Feldman, Executive Vice President of Raw Materials, will retire in June after a 35-year career with Nucor and the David J. Joseph Company. Feldman began his career in 1986 as a brokerage representative at DDJ progressing within the company to District Manager of the Salt Lake City brokerage office, Commercial […]
The U.S. steel industry has enough capacity to meet demand even if the Biden administration passes a big infrastructure bill, said the top executive of the nation’s biggest steelmaker. The United States “desperately needs” an infrastructure package worth “more than $1 trillion,” and Nucor hopes such a bill will be passed in the early days […]
Update on Tampa Steel Conference registrations: We are moving past 250 registered attendees for the Feb. 2 virtual conference. We fully anticipate the 32nd annual Tampa Steel Conference will attract 350-400+ attendees from manufacturing, distribution, steel mills, trading companies, logistics companies, ship lines, port facilities, toll processors and suppliers to those industries. You can learn more about the […]
Most new U.S. flat-rolled electric-arc furnace steelmaking capacity won’t start up until the second half of this year, which could have big implications for spot hot-rolled coil prices. The back-ended nature of the capacity add means the market might sustain hot-rolled coil prices of $1,000 per ton or more longer than many buyers believe, industry sources […]
Big River Steel is running the new, second line at its steel mill in Osceola, Ark., at close to 90% of its rated capacity. “Big River Steel expected and has had another record startup in terms of its second furnace and caster,” said a company spokesperson in an email to Steel Market Update. The company […]
The U.S. electric-arc furnace steelmaking industry is eager to work with the administration of President-elect Joe Biden to craft better trade, infrastructure and manufacturing policies, the head of the Steel Manufacturers Association said. And those efforts could be fruitful given Biden’s moderate positions on those issues and the moderation that will be necessary to effectively […]
Nucor Tubular Products notified customers Wednesday that it will increase pricing on all new orders for HSS, pipe, mechanical and piling products by $100 per ton as a result of the strong demand and rising costs of raw materials and transportation. All orders booked prior to this announcement will be price protected for shipments through […]
Nucor Tubular Products notified customers on Wednesday, Jan. 20, that it will increase pricing on all new orders for HSS, pipe, mechanical and piling products by another $150 per ton as a result of the strong demand and rising costs of raw materials and transportation. All orders booked prior to this announcement will be price […]
Evraz North America (NA) has followed Nucor in increasing plate prices by at least $140 per ton ($7/cwt). The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 6. “We reserve the right […]
Nucor and SSAB Americas have raised plate prices sharply higher to ring in the New Year. Effective immediately, Nucor’s new ex-works base price for cut-to-length grade A36 plate is $940 per ton ($47/cwt), up $140 per ton from $800 per ton on Dec. 14, according to letters to customers dated Tuesday, Jan. 5. The new […]
As we enter the New Year registrations are starting to accelerate for the 32nd annual Tampa Steel Conference which will be held virtually on February 2nd of this year. We currently have 150 registrations, and we expect 300-500 attendees once the conference opens. Here are the companies registered. Those with an asterisk (*) next to […]
As we enter the New Year, registrations are starting to accelerate for the 32nd annual Tampa Steel Conference to be held virtually on Feb. 2. We currently have close to 200 registrations, and we expect 400-500 attendees once the conference opens. Here are the companies registered. Those with an asterisk (*) next to their name means they […]
The Tampa Steel Conference will be conducted virtually for the first time in its 32-year history. The 2021 conference will be held on Feb. 2 and will be an all-day event. We encourage everyone to register for what promises to be both an entertaining and timely event. Steel Market Update and Port Tampa Bay are pleased […]
The Tampa Steel Conference will be conducted virtually for the first time in its 32-year history. The 2021 conference will be held on Feb. 2 and will be an all-day event. We encourage everyone to register for what promises to be both an entertaining and timely event. Steel Market Update and Port Tampa Bay are pleased […]