Tag: Nucor

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.

Nucor Corp. announced in a letter to customers on Tuesday afternoon that its plate mill group would increase as-rolled discrete plate, normalized, and quenched-and-tempered plate by $40 per ton ($2 per cwt).

I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.

Sheet prices continued to move higher this week on the heels of mill price hikes and extending lead times.

Nucor aims to increase base prices on all new sheet orders, effective immediately. The Charlotte, N.C.-based steelmaker seeks at least $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC), according to a Monday letter to customers.

A year after signing purchase agreements with two US steelmakers, Trane Technologies has shipped more than 1 million HVAC units produced with low-carbon steel.

There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]

Nucor Corp. has announced a $280-million investment to modernize its plate mill in Tuscaloosa, Ala.

The US plate market has been rather quiet over the past couple of weeks since Nucor Corp. caught many off guard with a $140-per-ton price cut.

US Hot-rolled coil (HRC) prices continue to surge on the heels of mill increases. They have become significantly more expensive than prices for hot band imported from offshore. Domestic hot band tags moved higher for a seventh consecutive week. Imports have seen only marginal gains over the same period, according to SMU’s latest foreign vs. domestic price analysis.

Flat Rolled = 52.6 Shipping Days of Supply Plate = 61.8 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories decreased for a third consecutive month in October. At the end of October, service centers carried 52.6 shipping days of supply, according to adjusted SMU data. This is down from 53.3 shipping […]

Nucor executives discussed the specifics of the company's 'net-zero by 2050 strategy' during a webcast on Nov. 14.

Nucor Corp. has announced its target date for net-zero greenhouse gas (GHG) emissions as 2050.

Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]

Certain welded steel pipe and tube products being exported from Vietnam to the US have, in fact, been illegally evading the payment of import duties, a US government agency announced this week.

Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.

Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.

Spot prices for steel sheet continued to shoot upward this week, which brought yet another round of price hikes.

You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]

Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.

ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.  

Sheet prices surged this week on limited spot tonnage and on the heels of steep price increases announced by domestic mills.

The first rule of Steel 101 is that you’re free to talk about Steel 101. We actually encourage it. Last week on Tuesday and Wednesday, SMU’s Steel 101 was held in Mt. Pleasant, S.C.

Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.

Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.

Nucor reported a drop in third quarter profits on lower steel prices, with the biggest hit to earnings occurring at its sheet mills. And the Charlotte, N.C.-based electric-arc furnace (EAF) steelmaker doesn't see things improving in the fourth quarter.

This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]