What are folks in the steel industry talking about? SMU polled steel buyers on a variety of subjects this past week, including domestic steel prices, import offers, buying activity, and more. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words.
Sheet prices fell across the board this week as SMU’s hot-rolled (HR) coil price slipped below $1,000 per short ton (st) on average for the first time since November.
Speaking during a fireside chat at the Tampa Steel Conference on Monday, Jan. 29, Hybar CEO David Stickler provided a status update on the company’s new rebar mill project and its plans for the future, including the possibility of a flat-rolled steel mill.
I thought Nippon Steel’s $14.1-billion deal for U.S. Steel might become a political football in this year’s presidential election. Now there is little doubt that it will after Trump told reporters in Washington, D.C., earlier this week that he would “absolutely” block the transaction – and that he would do so “instantaneously.”
SunCoke Energy Inc.’s earnings improved in the fourth quarter, driven by higher coal-to-coke yields, the company said in its Q4, and full-year results on Feb. 1.
U.S. Steel swung to a loss in Q4'23 in its first quarterly earnings since the announced sale to Japan's Nippon Steel.
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its March order book. The Charlotte, N.C.-based steelmaker said in a letter to customers on Tuesday, Jan. 30, that tags would be lowered by $50 per short ton (st) to $1,380/st.
Nucor is optimistic about long-term activity from bridges and highways, semiconductor chip plants and renewable energy, but still sees some short-term challenges. The North Carolina-headquartered steelmaker expects the federal programs that support these megatrends “to add somewhere between 5 million to 8 million tons of incremental annual demand for steel over the next several years,” […]
With rising steelmaking capacity and relatively flat demand, industry analysts are predicting lower prices for sheet products this year.
Nucor Corp. reported a decline in profits during the fourth quarter due to lower pricing and volumes.
The 35th Annual Tampa Steel Conference starts in just a few days. As one of the premier domestic steel conferences, it’s the perfect way to kick off 2024. It’s not too late to register if you haven’t already done so, but make sure to book now!
We’re just a week away from the 35th annual Tampa Steel Conference! It’s one of the premier domestic steel conferences and the first can’t-miss event of 2024. If you haven’t already registered, there is still time but make sure to book now!
It’s been a sloppy start to the year for domestic hot-rolled (HR) coil and ferrous scrap markets. One of the loudest things to happen in HR this year might be something that didn’t happen at all. Namely, Nucor didn’t follow competitor Cleveland-Cliffs higher when Cliffs announced a price hike to start the year.
I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity.
The new year represents an opportunity to capitalize on America’s leadership position in free market principles, steel industry modernization, and global efforts to create a lower carbon future for the steel industry. Steel Manufacturing Association (SMA) members are poised to lead the way.
Nucor Corp. announced in a letter to customers on Friday, Dec. 29, that its plate mill group would hold prices unchanged for as-rolled discrete plate, normalized, and quenched-and-tempered plate with the opening of its plate mill order book for February.
US hot-rolled coil (HRC) prices were unchanged week over week (WoW) following a string of mostly upward moves dating back to late September.
As 2023 draws to a close, I wanted to look back on some of the key events and themes of the year. But I’m going to hold off on that idea because we were – as of Sunday afternoon - still waiting on news about arguably the biggest event of the year, the potential sale of U.S. Steel.
U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.
Lower prices and volumes will impact Nucor Corp.’s earnings in the current quarter, the steelmaker said in fourth-quarter earnings guidance on Thursday, Dec. 14.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]
This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.
A group of organizations and stakeholders introduced a set of Steel Standards Principles at the COP28 UN Climate Change Conference.
Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).
Sheet prices shot higher again this week on the heels of another round of mill price increases as well as on reports of production and supply chain issues at certain domestic producers.
It’s no surprise why spot prices are on the rise: Mills have been announcing higher flat-rolled tags for the better part of the past three months, according to our steel mill price increase calendar. A leading cause of the $305-per-ton rally since prices reached a recent bottom of $645 per ton in late September has […]
Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.
US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.
A contract worker suffered a fatality on Friday, Nov. 24, at Nucor Steel Indiana’s Crawfordsville sheet mill.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.