I was asked if plate price momentum was also at neutral as we had just adjusted our flat rolled price momentum indicator away from higher to the neutral designation. To be honest, we haven’t actually incorporated plate into having its own index and it probably needs one. Plate prices don’t always move in sync with […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on recent events in Washington: • By my count, the Bureau of Industry and Security at Commerce has posted 82 exclusion requests for steel and aluminum combined. The Washington Post reported that 1,200 requests had been submitted to BIS. The NPR program Marketplace yesterday […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on recent events in Washington: • By my count, the Bureau of Industry and Security at Commerce has posted 82 exclusion requests for steel and aluminum combined. The Washington Post reported that 1,200 requests had been submitted to BIS. The NPR program Marketplace yesterday […]
Nucor Corp.’s first quarter 2018 consolidated net sales increased 9 percent from the previous quarter to $5.57 billion. Total tons shipped jumped 6 percent to 6.967 million tons. Consolidated net earnings were $354.2 million. Earnings in the steel segment improved in the first quarter due to higher steel prices and an 8 percent increase in […]
Nucor Executive Vice President of Raw Materials James Darsey will retire on June 9, 2018, after 39 years of service with the company. As of June 10, Craig A. Feldman, President of David J. Joseph Company and Nucor Vice President and General Manager, will be promoted to Executive Vice President of Raw Materials. Feldman will […]
For the ultimate prognosticators out there, individual tax returns were due today (April 17) by midnight. The IRS has had computer issues today and has extended the deadline to April 18 at midnight. The Metals Service Center Institute inventories and shipment article in tonight’s issue will be the last one Steel Market Update will produce. […]
Registrations for the 2018 SMU Steel Summit Conference have blasted through the 300 executives level and we continue to get multiple registrations daily. Here are some of the companies who registered on Monday of this week (those with an asterisk * denote more than one person registered from that company): Ryerson*, Nucor*, California Steel Industries, […]
On Monday, April 16 we will begin our mid-April flat rolled steel market trends analysis. Our goal is to be able to spot changes in pricing, demand, negotiations, sentiment and many other trends that ultimately affect steel prices in North America. If you receive an invitation to participate please answer the first question which will […]
As Steel Market Update analyzed the inventory data received from flat rolled steel distributors, we found the number of months of supply that steel service centers are carrying was lower at the end of March than what we reported at the end of February. With 96 percent of our data providers reporting, the number of […]
The new cold mill complex at Nucor Steel Arkansas is now expected to start up in the first half of 2019, said the company. Nucor executives and state and local officials gathered at the facility for a ribbon cutting event yesterday. Nucor announced the new $230 million cold mill in September 2016 and said it […]
Steel Market Update steel training workshops continue to be very popular. We are finding many companies sending their new people to our flagship Steel 101 workshop. This workshop is excellent for those new to the industry; however, it is not just for new employees. It is an excellent way to expand the knowledge base of […]
Our 8th SMU Steel Summit Conference registrations are quickly approaching 300 executives. With 136 days still to go, we are confident we will set another record attendance. Over the past two days we have received registrations from the following companies (those with a * next to their name means there is more than one person […]
I’ve been asked my opinion as to which way steel prices will head from here. There seems to be a bit of a lull at the moment that one steel buyer attributed to the mills trying to stave off imports and not appear to be too greedy. Steel buyers are telling me that they will […]
Steel Market Update’s sources report that ferrous scrap prices have increased by $5 to $15 per gross ton in April, depending on the type and region. Some predict scrap prices are likely to decline in May. Strong domestic demand is the key driver of rising scrap prices, said one dealer in the North. “With few […]
Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […]
Steel Market Update has been diligently working toward completing our SMU Steel Summit Conference agenda. We have been intentionally taking our time as we wait for market developments to mature and provide guidance as to what subjects will be the most pressing to the manufacturing companies, fabricators, steel distributors, steel mills, trading companies, toll processors […]
I am happy to announce CNBC analyst and commentator Ron Insana will be doing our closing keynote speech this year. Mr. Insana is well know for his analysis, business forecasts and work following politics, regulations and trade issues and how they will impact business in the United States. I believe our attendees will have a […]
Ferrous scrap prices are expected to rise $20 to $30 per gross ton in April, and possibly more, according to Steel Market Update sources. All grades are expected to see increases, and with relative parity across the country. One dealer told SMU there is pressure on obsolete grades as the long winter has impeded the […]
There are a lot of moving pieces to the Section 232 tariffs and the negotiations these tariffs have prompted among the countries that have not yet been excluded. Quotas are being discussed with most, if not all countries, with South Korea agreeing to 70 percent of their 2017 shipment levels. You should anticipate that other […]
I will be traveling beginning on Tuesday afternoon as I head to Chicago to conduct one of our Steel 101 workshops. I want to take a moment to thank NLMK USA for their hospitality as we will be touring their Portage minimill on Wednesday of this week. I will not return to my office until […]
WOW! What a day. I don’t know if anyone has the ability to accurately calculate the value of a piece of steel based on what has been happening since President Trump all of a sudden announced Section 232 tariffs while answering a reporter’s question. With the announcement of more countries being excluded from the tariffs, […]
Registration is now available on our website for the next Steel 101 workshop in Memphis, Tenn. On June 5 & 6, 2018, Steel Market Update will host our Steel 101: Introduction to Steel Making & Market Fundamentals workshop. The workshop will be held at the Westin on Beale Street in downtown Memphis. From there we […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
Steel Market Update’s 8th Steel Summit Conference will be held at the Georgia International Convention Center on Monday, Aug. 27, through Wednesday, Aug. 29, 2018. We’ve been watching the markets very carefully as we put together our final agenda and have worked hard to select the best speakers possible. On Friday, we added AK Steel […]
SMU will begin our next flat rolled and plate steel market trends analysis beginning at 8 AM ET tomorrow morning (Monday). Please check your inbox (or SPAM filter) for our invitation to participate in the mid-March process. If you would like to be included in this or future surveys, please send an email to info@SteelMarketUpdate.com. […]
Nucor Corp. is expecting stronger earnings in first quarter than fourth, said the company in its first-quarter earnings guidance. Average selling prices for steel products have steadily increased in 2018, and positive pricing momentum is expected to continue into second quarter. Earnings for the steel mills segment are expected to improve compared to first quarter. […]
I went out and looked around to see what I could find regarding foreign steel offers into the U.S. market. I did learn that the Mexican mills are offering to some of their core U.S. customers, but they do not have a lot of steel to sell. The pricing on hot rolled is being referenced […]
Nucor will add another rebar micro mill to its portfolio. On Monday, the company announced it will build a $240 million micro mill in Frostproof, Fla. This is the second rebar micro mill project Nucor has committed to in the past five months. In November, the company announced it will build a rebar micro mill […]
We believe we will have something special for those attending Steel Market Update’s Steel 101 workshop on June 5-6 in Arkansas, which will include tours of both the Nucor Hickman and Nucor-Yamato steel plants. This will provide a unique opportunity for those attending to see a working flat rolled mill with an electric arc furnace, […]
OK, the Section 232 announcement has been made. Canada and Mexico are in the clear (for the moment) and the president’s attention is now on North Korea and other issues not related to the economy. My advice, don’t panic (unless you haven’t bought any steel over the past few months, in which case you are […]