Steel Market Update has opened online registration for our 8th SMU Steel Summit Conference. We are also accepting registrations by phone, which you can do by contacting our offices at 772-932-7538 or 706-216-2140. Information regarding dates, costs and other details can be found further down in this article. Steel Market Update and our Events team […]
Nucor will shift production at subsidiary Kirby Building Systems to Portland, Tenn., laying off approximately 100 production workers. The shift in operations reflects production changes in the Nucor Buildings Group, which manufactures custom-engineered and standard metal buildings and components.” “In the coming months, Nucor will be transferring all production of our American Buildings Company (“ABC”) […]
A handful of carbon steel plate mills have followed Nucor’s lead and announced price increases of $50 per ton today, effective immediately on all new or unconfirmed orders. All extras will remain unchanged. Evraz North America increased transactional prices on all carbon, HSLA, Hot Rolled Coil, Normalized, and all Quenched & Tempered products including Armor […]
A handful of carbon steel plate mills have followed Nucor’s lead and announced price increases of $50 per ton today, effective immediately on all new or unconfirmed orders. All extras will remain unchanged. Evraz North America increased transactional prices on all carbon, HSLA, Hot Rolled Coil, Normalized, and all Quenched & Tempered products including Armor […]
Nucor’s Sheet Mill Group has informed customers of a change in the index used to calculate scrap and raw material surcharges. It could affect steel pricing beginning with the January 2018 index settlement price, which determines the February 2018 Nucor surcharge for some customers. See the letter below:
On Wednesday, Jan. 3, 2018, Nucor announced a $40 per ton price increase on all spot flat rolled products produced at their steel mills. Their announcement was quickly followed by similar announcements on hot rolled, cold rolled and coated steels (galvanized and Galvalume) by U.S. Steel, NLMK USA and AK Steel. On Friday of this […]
The Nucor Plate Group has increased transaction prices on all new orders for carbon, alloy and heat-treated plate by $50 per ton, effective immediately on any new or unconfirmed orders. Nucor’s Jan. 5 price hike follows on a $50 per ton increase announced Dec. 6 and a $40 per ton increase announced Nov. 15 on […]
During the middle of this past week, a number of the domestic mills, led by Nucor in the east and California Steel in the west, raised flat rolled steel prices. With steel buyers just returning from the extended Christmas and New Years holidays, we found price offers were up, but the actual placement of orders […]
As of late Friday, Steel Market Update ferrous scrap sources reported that scrap negotiations were ongoing and had not yet settled for the month of January. We heard late in the week of one Detroit-area mill paying up $20 per gross ton on prime grades and up $30 per gross ton on cut grades. We […]
Nucor led the charge of the East Coast flat rolled steel mills in an effort to keep prices moving higher. On Wednesday, Nucor, followed by U.S. Steel, put out announcements advising customers of their intention to raise spot flat rolled prices by $40 per ton. Soon after, NLMK USA and AK Steel followed Nucor’s lead […]
AK Steel and NLMK USA raised spot market base prices on all carbon flat-rolled steel prices by $40 per ton today, matching similar $40 hikes on hot rolled, cold rolled and galvanized steel products yesterday by Nucor and U.S. Steel. All four companies said the increase is effective immediately on new orders and will not […]
We are hearing that ferrous scrap prices will rise by $20 to $30 per gross ton this month. Negotiations continue at most of the mills, but we did learn of one Detroit mill settling yesterday up $20 on primes (busheling/bundles) and up $30 on the other grades. The cold weather, strong exports and low inventory […]
It was an unusually busy year for steel trade actions in the United States in 2017. January brought the nominations of Robert Lighthizer as U.S. Trade Representative and Wilbur Ross as Commerce Secretary. During his confirmation hearings, Ross said, “I’m not anti-trade, I’m pro-trade. But I’m pro-sensible trade. Not pro-trade that is to the disadvantage […]
Ratner Steel’s new Osceola, Ark., service center may be located near Big River Steel, but Big River is only one of the mills Ratner plans to use as a source for steel, said Steve Gottlieb, Ratner president and COO. “People think we will only do business with Big River, but our intention is to buy […]
Our team has been working diligently on our 2018 SMU Steel Summit Conference. We have expanded the space we are using at the Georgia International Convention Center, we have changed the space that will be used for breaks and for our exhibitors, and we have expanded the audio/visual segment of the program as we continue […]
Nucor offered fourth-quarter guidance on Wednesday, forecasting a decrease in earnings compared to the third quarter. Fourth-quarter results are expected to be in the range of $0.50 to $0.55 per diluted share compared to third-quarter consolidated net earnings of $0.79 per diluted share and comparable to year-ago earnings. Imports continue to negatively impact the U.S. […]
You may or may not be aware that we updated our Steel Market Update website over the Thanksgiving Holiday weekend. We updated software that controls a number of the functions of our website in order to speed up the site and to make sure that it is up-to-date over the next few years of use. […]
With mill order books extending into February on some products, most domestic steel producers have announced price increases. Steel Market Update sees steel prices moving higher for the next 30-60 days. The steel plate mills were the first to go last week, adding $50 per ton ($2.50/cwt) to the base price of plate steel. SSAB […]
AK Steel was the latest mill to climb on the price-hike bandwagon with its announcement yesterday of a $30 per ton increase on spot market base prices for all carbon flat-rolled steel product, effective immediately on new orders. AK Steel’s move follows on similar announcements in the past several days from other leading steelmakers, including […]
USS-POSCO is the latest flat roll mill to announce a price increase. In a letter to customers today, the mill said that, effective immediately, it is raising base prices on all sheet products by a minimum of the following: Hot Rolled P&O, $30 per net ton; Cold Rolled, $30 per net ton; and Galvanized, $30.00 […]
On the heels of its $50 per ton increase on carbon plate prices on Wednesday, Nucor announced an additional $30 per ton increase on hot rolled, cold rolled and galvanized steel products on Friday, effective immediately. U.S. Steel, NLMK USA and California Steel matched the Nucor sheet price increase of $30 per ton. ArcelorMittal USA, […]
ArcelorMittal, California Steel Industries, NLMK USA and U.S. Steel all announced $30 per ton price increases on Friday. Their announcements follow on a similar hike by Nucor earlier this week. In a letter to customers, U.S. Steel’s North American Flat-Rolled Sales Organization stated that, effective immediately, it was increasing base pricing for all new flat-rolled […]
On the heels of Wednesday’s $50 per ton increase on carbon plate prices, Nucor today announced an additional $30 per ton increase on hot rolled, cold rolled and galvanized steel products. In a letter to customers, Nucor’s Sheet Mill Group said the price increases are effective immediately on new and unconfirmed orders. SSAB Americas and […]
The Department of Commerce issued an affirmative final determination in the antidumping investigation of carbon and alloy steel wire rod imports from Belarus, the Russian Federation and the United Arab Emirates. The following dumping margins were assigned: Belarus: 280.02 percent Russia: 756.93 percent for Abinsk Electric Steel Works Ltd. and JSC NLMK-Ural, and 436.8 percent […]
The Commerce Department’s Vietnam circumvention ruling on Tuesday represents a departure in the U.S. government’s interpretation of what constitutes adding “minor or insignificant” value to a product. This is a key issue in determining whether importation of a product from a country not directly subject to a trade remedy amounts to a “circumvention” of existing […]
In separate notices to customers today, SSAB Americas, Nucor and ArcelorMittal USA announced their intentions to raise steel plate transaction prices by $50 per ton. This new announcement means the domestic plate producers have raised prices by $130 per ton ($6.50/cwt) over the past 30 days. SSAB Americas said it is raising transaction prices by […]
With the exception of U.S. Steel, all of the domestic steel mills have announced new coating extras for galvanized steel. The coating extras, which were last changed in April/May 2017 (announcements went out in February/March 2017), are rising due to the higher costs associated with zinc, which is the main ingredient used when making galvanized […]
Dan DiMicco, former CEO of Nucor Corp., has been appointed to a four-year term as a member of President Trump’s Advisory Committee for Trade Policy and Negotiations, the White House announced in a Dec. 4 release. DiMicco, who retired from Nucor, is a former trade advisor to the Trump campaign and serves as chairman of […]
Dan DiMicco, former CEO of Nucor Corp., has been appointed to a four-year term as a member of President Trump’s Advisory Committee for Trade Policy and Negotiations, the White House announced in a Dec. 4 release. DiMicco, who retired from Nucor, is a former trade advisor to the Trump campaign and serves as chairman of […]
Galvanized steel prices are on the way up for customers of Steel Dynamics, which was the latest mill to announce an increase in its coating extras due to the high price of zinc, which traded at nearly $1.43 per pound yesterday. SDI’s new extras schedule is effective on orders acknowledged for delivery beginning Jan. 1. […]