The pace of the decline slowed this past week with a number of the indexes showing mild to no erosion in flat rolled steel pricing. Benchmark hot rolled steel prices dropped into the mid $630’s. The spread between hot rolled and cold rolled steel pricing was an unusually high $121 per ton. Plate prices continue […]
Steel Market Update saw the percentage of manufacturing companies reporting steel service center flat rolled steel spot prices as declining increase from 20 percent in early February to 54 percent at the beginning of March. This past week Steel Market Update (SMU) conducted our early March analysis of the flat rolled steel markets. This is […]
Scrap prices in Detroit, Carolinas and Alabama have settled lower for March delivery according to SMU sources. Detroit ferrous scrap prices were reported to be down $20 per gross ton while the Carolinas were down $15-$20 and Alabama down $15 per gross ton. The main issue continues to be the lack of a firm scrap […]
Steel Market Update covers subjects in a variety of ways for our specific member groups. In the article below, Peter Wright provides a deeper analysis of preliminary steel import license numbers for flat rolled steel products which normally goes to our Premium Level customers: This month we decided to start this piece with a review […]
Every week Steel Market Update analyzes a number of the flat rolled steel price indexes and provides the analysis to our Executive and Premium Level members. For our Monthly subscribers we produce an analysis of what happened to steel prices in total during the course of, in this case, the month of February. The numbers […]
Steel Market Update follows a number of flat rolled steel price indexes and all of the indexes that reported to SMU this week saw benchmark hot rolled prices declining this past week. Three indexes reported double digit reductions in their HRC averages (Steel Orbis did not supply prices for this past week) and the average […]
Steel prices continue to drop on most, if not all, of the indexes followed by Steel Market Update. Benchmark hot rolled coil was referenced at $645 per ton by both Steel Market Update and Platts. CRU had HRC pegged a few dollars higher at $649 per ton. SteelBenchmarker, which is part of World Steel Dynamics, […]
All flat rolled steel prices, with the exception of cold rolled (and plate which we do not currently measure), were reported as being more negotiable at the domestic mills this past week. This result is based on the Steel Market Update proprietary flat rolled steel market survey which was concluded last Thursday (February 20th). Eighty-eight […]
A stronger performance is expected in all end-markets for 2014 said Reliance Steel & Aluminum in the company’s recent conference call. The following are some comments by Chief Executive Officer and Chairman of the Board David Hannah and Gregg Mollins, President and Chief Operating Officer on the steel market and industry. Regarding pricing Gregg Mollins […]
Total service center carbon steel shipments jumped by 662,100 tons in January which was a smaller start-of-year bounce than either 2012 or 2013. January tons per day shipments increased by 24,000 to 158,500 tons. In January 2012 and 2013, tons per day shipments increased by 35,000 and 38,000 tons, respectively. Intake was 167,100 tons, leading […]
Flat rolled steel prices were mixed compared to this time last week. The combination of our survey coupled with direct channel checks found hot rolled and galvanized prices slightly weaker while cold rolled and Galvalume prices remained the same as last week. The SMU Price Momentum Indicator continues to reference prices as moving lower over […]
The move by the domestic mills to reach $700+ per ton hot rolled is nothing but a blur in the rear view mirror according to the various steel indexes followed by Steel Market Update. Flat rolled steel prices fell across the board on hot rolled, cold rolled, galvanized and Galvalume steels this past week. The […]
Essar Steel Algoma posted a net loss of 38.6 million for the third quarter FY 2014, ending December 31, 2013, compared to a net loss of $25.1 million for third quarter FY 2013. Severe winter weather slowed incoming raw material shipments affecting production for the quarter. Steel shipments were 590,837 tons, down from 642,000 tons […]
Scrap prices for February deliveries to the domestic mills have settled in most areas of the country. In Chicago and the Upper Midwest we are seeing prices down from the previous month as #1 HMS (heavy melt scrap) is at $390 per gross ton, shredded scrap ranges from $400-$410 per gross ton (average $405) and […]
The various indexes we follow on a regular basis all had prices on benchmark hot rolled moving lower this past week. Platts took the biggest leap moving from $675 to $660 in one week. SMU dropped $5 per ton to $660. Plate prices rose at Platts but dropped with CRU. The result is we are […]
Leeco Steel, a supplier of carbon, HSLA, heat-treated and alloy steel plate, will open its first Florida sales and distribution center in Tampa. This will be the eleventh location for the Illinois-based company. The 98,000 square foot facility will have drive-through bays and rail service and is scheduled to be operational by April. Processing equipment […]
I want to take a moment to thank Mark Bush, General Manager Mobile Operations for SSAB Americas as well as Brent Major of SSAB Americas for their hospitality during our tour of the SSAB Mobile steel facilities as part of our most recent Steel 101 workshop. Our group was impressed with the steelmaking as well […]
According to scrap experts, most of the domestic mills canceled their January orders at the close of business this past Friday when shipment of the past due scrap had not already been made. Cancellations are standard operating procedure by the domestic mills when they believe scrap prices will drop once the new month’s negotiations are […]
The two strongest products during the month of January were cold rolled (fully annealed) and plate. Both of these products saw spot price appreciation during the month. Hot rolled was a mixed bag with SMU now holding the lowest average at $665 per ton as of last week. At one point during the month every […]
According to scrap experts, most of the domestic mills canceled their January orders at the close of business this past Friday when shipment of the past due scrap had not already been made. Cancellations are standard operating procedure by the domestic mills when they believe scrap prices will drop once the new month’s negotiations are […]
Steel Market Update follows a number of indexes and their average price points on hot rolled, cold rolled, galvanized, Galvalume as well as plate. Steel Market Update (SMU) found prices slipping on three of the four products we currently index – hot rolled, galvanized and Galvalume. CRU also picked up some modestly weaker numbers as […]
For the first time in what seems like forever, the four indexes followed by Steel Market Update, as well as our own, have benchmark hot rolled coil at the same average during the same week. Hot rolled coil was reported by all indexes this past week at $675 per ton ($33.75/cwt). The similarities stopped there, […]
Steel Market Update (SMU) released ourr latest Steel Buyers Sentiment Index which measures how buyers and sellers of flat rolled steel feel about their company’s ability to be successful in the current business environment. The mid-January Sentiment Index was measured over the period January 20 through February 23, 2014 and is being reported at +44. […]
SSAB plans to acquire Finnish steel company rival Rautaruukki for 10.1 billion kroner ($1.8 billion) in a deal that the two companies hope will bring a cost savings of 1.4 billion kroner ($254 million) in three years. The major stockholders at both companies, Solidium Oy (39.7 shares) at Rautaruukki and Industrivaerden AB (18.2 shares), are […]
Two of the indexes followed by Steel Market Update (three including our own indices) saw prices as beginning to drop for the first time in many weeks. The average hot rolled number dropped $3 per ton to $678. The cold rolled results were mixed with SMU and SteelBenchmarker (which is only published twice per month) […]
Canadian service center shipments for all steel products were reported at 348,700 net tons (NT) in December, down 26.3 percent over November figures but up 3.0 percent from December 2012 shipments. With 20 shipping days in December, daily shipments are calculated to have been 17,400 tons per day, down from 23,700 tons per day the […]
The Metal Service Center Institute (MSCI) released steel shipment and inventory data for the month of December and for the full year 2013. Total steel inventories rose and ended the month of December at 8,367,700 tons which is an increase of 387,800 tons from the previous month. The daily shipment rate dropped from 153,400 tons […]
Altos Hornos de México (AHMSA) is pulling nearer to its goal of producing 5 million tons of steel per year. Production in 2013 reached 4.16 million tons, up 7 percent from 2012. Shipments of steel products totaled 3.55 million tons. AHMSA’s new Steckel mill produced 80,000 tons of steel plate in the final months of […]
Earlier today (January 14, 2014) SSAB announced to its customers an increase for all new orders for non-contract As Rolled Carbon and High Strength Low Alloy, Normalized Plate, Alloy Plate including Quenched and Tempered, Cut to Length and Plate > 72” wide and Hot Rolled Coil > 72” wide, by a minimum of $30 per […]
In the 12 months through November the US imported 29,129,427 tons of all steel products including semi finished, exported 11,594,574 tons for a net steel trade deficit of 17,534,853 tons. The major net importer was Brazil with 3,591,401 tons. Canada and Mexico both imported more from the US than they exported to the US resulting […]