Tag: Plate

Ryerson saw lower sales and shipments in the third quarter and is anticipating further declines in the last quarter of the year.

SSAB reported lower earnings in the third quarter on weaker demand in Europe that was only partially offset by solid demand for plate in North America.

CRU forecasts a stronger year for steel sheet demand in 2024 than in 2023 as growth continues in Asia and a recent period of contraction in the West ends.

Mill lead times for flat-rolled products pushed out this week once again across the board.

Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.

Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.

Ranger Steel Services has acquired the steel operations of Detroit-based heavy plate distributor Nance.

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.

Members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) were bullish at the Tuesday, Oct. 24, meeting of its Sheet Metal/Air Handling Council.

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 […]

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.

Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.

US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.

Steel Market Update’s Steel Demand Index remains in contraction territory despite repeated improvements since mid-September, according to our latest survey data.

The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.

This week’s survey showed steel mill lead times extending across all product lines tracked by SMU.

Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.

Leeco Steel has promoted Tom Murray to sales manager, north. The appointment was effective Oct. 1.

US raw steel production dropped for the week ending Oct. 7, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 9.

Esmark Steel Group has established Esmark Steel International, a business focused on supplying the Mexican industrial steel market.

Nucor was joined by Kentucky Gov. Andy Beshear for the steelmaker’s “grand opening” of its $1.7-billion Brandenburg plate manufacturing mill in the state.

Sheet prices rose this week on the heels of a price increase announced by Cleveland-Cliffs last week that was quietly followed by other mills.

Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.

US plate prices have been relatively flat this year, especially when compared to sheet products. Case in point; SMU's plate prices stands at $1,455 per ton ($72.75 per cwt) on average, down 7% from a $1,560 per ton peak in April. Our HRC price is at $645 per ton, down 44% from an April peak of $1,160 per ton.

Algoma Steel Inc. plans to ramp up production at its modernized plate mill toward the end of the year. Operations Update The Canadian sheet and plate producer said it in the meantime continues hot commissioning at the upgraded facility and has begun cold commissioning as well. The company said it has also run trials through […]

The latest SMU Market Survey results are now available on our website to all Premium members.

Nucor Corp. will keep plate prices unchanged with the opening of its November order book.