Final Census data shows that finished steel imports rose 15% in February to 1.45 million tons, as more U.S. buyers sought relief from climbing domestic prices and limited supply. This is the highest finished-steel import level seen since May 2020. Total steel imports were 1.90 million tons in February, down 22% month-over-month, due to January’s […]
Producer prices continue to register solid monthly increases from the losses suffered during the early days of the COVID-19 pandemic. The composite Producer Price Index (PPI) of all commodities from the Bureau of Labor Statistics (BLS) showed an increase of 2.1% in February versus the prior month, and a 6.0% increase year on year, seasonally adjusted. […]
Finished steel imports jumped by 14% from January to February, according to preliminary Census figures, as buyers placed more foreign orders in search of relief from short supplies and high prices in the U.S. February imports totaled an estimated 1.89 million tons, which is actually 22% lower than January overall. But January’s total was inflated […]
Canada-based Nova Steel plans to move forward on construction of a new pipe and tube steel plant in Delta, Ohio. Originally slated to begin construction in May 2020, the project was delayed due to the COVID-19 crisis. The facility will be located in proximity to North Star BlueScope and will utilize steel coil from the […]
Zekelman Industries has lauded the Biden administration for continuing to support the Section 232 tariffs. In fact, the company celebrated the anniversary and continuation of Section 232 by giving employees a $1,000 bonus. Barry Zekelman, CEO and Executive Chairman of the Chicago-based pipe and tube manufacturer, praised the Trump-era tariff, but called on the president […]
Nucor’s tubular products group aims to increase prices for hollow structural sections (HSS), mechanical tubing and piling product by $125 per ton ($6.25/cwt) effective immediately. “The increase is a result of rising raw material costs, strong demand and (the) volatility of transportation costs,” the steelmaker said in a letter to customers on Thursday, March 11. Nucor […]
At least two U.S. tube mills plan to increase prices for non-energy tubulars by $125 per ton ($62.50/cwt) effective immediately, according to letters to customers. North of the border, meanwhile, Welded Tube of Canada aims to increase prices on hollow structural sections (HSS) and mechanical tubing by $160 per ton CAD, also effective immediately. Atlas […]
January U.S. steel imports surpassed 2.42 million tons, according to final Census data released last week, up 62% from December due to the quarterly surge in semifinished product imports. Focusing on finished steel imports only, January figures are down from December by 7%. February import licenses are currently at 2.02 million tons through March 5 […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held tomorrow, Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held tomorrow, Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
Tenaris, a leading manufacturer of pipe and tube for the energy sector, saw sales rise 12% in the fourth quarter as drilling activity improved in the Americas and sales expanded in the Middle East. Sales of OCTG products rose 11% from the prior quarter in the U.S. and Canada, totaling $391 million for the region. Fourth-quarter […]
U.S. steel imports show mixed signs, according to January preliminary Census data. January steel imports are currently reported at 2.42 million net tons, up 62% from one month prior due to the quarterly surge in semi-finished product imports. Focusing on finished steel imports only, January figures are down from December by nearly 90,000 tons or […]
Demand is strong and approaching pre-COVID levels in the first quarter, said Olympic Steel President and COO Andrew Greiff during the service center’s fourth-quarter 2020 earnings call. All three company divisions contributed to earnings for Q4 with specialty metals turning in its third strongest quarter in the company’s history as well as the strongest quarter […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held on Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held on Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
“Snowmageddon” did not help. Steel buyers are telling Steel Market Update that last week’s “Snowmageddon,” as one buyer called it, has caused steel orders into the South and South Central sections of the United States to be pushed out an additional one to two weeks. “We’re seeing some adjustments arising out of last week’s weather with […]
Nucor’s tubular products group has increased prices for hollow structural sections (HSS), pipe, mechanical and piling products by $50 per ton ($2.50/cwt). The move is effective immediately and is necessary because of “rising raw material costs, strong demand, and volatile transportation costs,” Nucor said in a Feb. 19 letter to customers. Orders booked prior to […]
AM/NS Calvert has quietly increased prices for new spot orders by $40 per ton ($2/cwt), according to market participants. The move–which was effective on Feb. 16 but not widely announced–will see base prices for hot-rolled coil increase from $1,160 per ton to $1,200 per ton, sources said. Base prices for cold-rolled and coated products will […]
U.S. steel imports are on the upswing. December steel import figures were finalized at 1.50 million net tons, up 9% from one month prior and up 18% over September’s 11-year low of 1.26 million tons. January import licenses are up 47% from the month prior to 2.20 million tons, the highest monthly level seen since […]
U.S. Steel does not plan to build additional electric-arc furnace capacity for the “foreseeable future,” company executives said. The company also plans to keep the “A” blast furnace at its Granite City Works in southern Illinois idled, they suggested. U.S. Steel acquired two flat-rolled EAFs when it closed its deal for Big River Steel’s mill […]
November steel import figures were finalized at 1.37 million net tons, down 9 percent from one month prior, but up 9 percent over September’s 11-year low of 1.26 million tons. December import licenses are now at 2.10 million tons, the highest monthly level seen since July. January import licenses are currently at 1.03 million tons, […]
U.S. steel lobbying groups and the United Steelworkers union want the administration of President-elect Joseph Biden to keep Section 232 tariffs and quotas in place. The steel groups and the union think the protections are necessary because of global steel overcapacity and because of the economic impact of the Covid-19 pandemic, according to a recent […]
We welcome Michael Cowden to Steel Market Update next week as the guest speaker for our SMU Community Chat. The webinar will be held on Wednesday, Jan. 13, at 11 a.m. ET. The webinar is free to anyone who is interested in the flat rolled and plate steel markets. Joining Michael will be SMU President […]
U.S. steel producers are worried that a change to the Section 232 exclusion process could gut the Trump administration’s signature trade act. The focus of concern: The Commerce Department’s potential adoption of “General Approved Exclusions” (GAEs) into the Section 232 exemption process. “If permitted to stand, the GAEs will effectively eliminate Section 232 tariffs on […]
Count me as an optimist—that events move, sporadically and inconsistently, but generally toward progress. I received a lot of messages during the past week that wondered openly whether talks between the United States and the European Union might lead to an end to the steel and aluminum tariffs that have been in effect since 2018. […]
Count me as an optimist—that events move, sporadically and inconsistently, but generally toward progress. I received a lot of messages during the past week that wondered openly whether talks between the United States and the European Union might lead to an end to the steel and aluminum tariffs that have been in effect since 2018. […]
Steel Market Update is pleased to announce that veteran steel reporter Michael Cowden has become the newest member of the Steel Market Update team. Michael has joined SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is well respected within […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]