Altos Hornos de Mexico (AHMSA) reported a net loss of 520 million pesos ($40.3 million) in the third quarter of 2013, as compared to a net loss of $26.6 million in third quarter 2012. Sales were 9.475 million pesos ($735.2 million) on shipment of 886,524 tonnes of steel product, down from sales of $751.1 million […]
Based on recently released data from the U.S. Department of Commerce, exports of steel rose slightly during the month of August to 1,147,411 net tons (all products). This represents an increase of 60,102 tons compared to the exports shipped during the month of July which totaled 1,087,309 tons. August exports of hot rolled totaled 86,065 […]
The 3 month moving average (3MMA) of imports of the combined tonnage of billets, blooms and slabs through September reached the highest level since February last year. We use the 3MMA to avoid getting too wrapped up in a single months numbers which can be a fruitless exercise. On the same basis flat rolled products […]
Our ferrous scrap sources are advising Steel Market Update to expect a minimum of $20 per gross ton increase in scrap prices as we head into the month of November mill buys. We are finding there is some weakness being exhibited on the east coast with the Claymont plate mill being shut down by Evraz, […]
SSAB Americas had sales of SEK 3,639 million ($575 million) in the third quarter of 2013 on shipments of 628 thousand tonnes (692,239 tons). Niche products accounted for 166 thousand tonnes (182,980 tons) or 26 percent of total shipments. In comparison, shipments were 16 percent higher year over year and 9 percent higher quarterly. Sales […]
Total service center carbon steel shipments declined by 241,500 tons in September compared to August but shipping days also declined by two. As a result, tons per day shipments increased from 158,100 to 161,800. Month end inventory increased by 2,000 tons to 7,604,000 tons. Intake improved from 162,210 tons per day in August to 166,940 […]
The following information was in a press release received by SMU from CRU. We have requested more information from CRU regarding the audit, how it has impacted their data providers and any other pertinent information they were able to gather through the process. We will follow up with another article when we receive information from […]
Severstal NA reported sales of 1.2 million tonnes (1.32 million tons) of rolled products in the third quarter, a 2 percent increase over second quarter. Hot rolled coil and plate production decreased 2 percent to 642,729 tonnes (708,475 million tons) as compared to 656,574 tonnes (723,736 million tons) in the second quarter. […]
September rose slightly from end of August numbers. The 8,031,400 tons reported by the Metal Service Center Institute (MSCI) is still 8.4 percent below the levels held by the distributors at the end of September 2012. The number of months of inventory on hand was reported to be 2.4 months on an unadjusted basis and […]
Canadian shipments for all steel products in the month of September were 474,900 net tons, a decrease of 0.8 percent from the month before but an increase of 1.1 percent from September 2012. Inventories at the end of the month stood at 1,297,700 tons, a decrease of 6.6 percent from last month and a decrease […]
Evraz North America announced Monday it would suspend operations at its steel mill in Claymont, Delaware on December 13th due to “subdued market demand and the high volume of imports.” The Russian-owned mill produces specialized steel plate and has an annual capacity of 500,000 tons but produced only 383,590 tons in 2012 and 189,025 tons […]
You don’t usually think of fruit when visiting a domestic steel mill. However, our gracious hosts at Nucor Arkansas (Hickman) let us in on the secret of Strawberries – and that’s all I have to say about that. For more details talk to anyone associated with Nucor Arkansas and they will most likely let you […]
SMU has received a number of questions about the overall level of imports into the U.S. For example, 33.5 million tons in 2012 sounds like a lot. We don’t see this magnitude on the flat rolled side. Could someone please explain what product forms the imports are coming in and where they are coming from? […]
CHARLOTTE, N.C., Oct. 7, 2013 — Nucor Corporation NUE +0.08% announced that The Steel Manufacturers Association (SMA) presented Nucor’s Executive Chairman Dan DiMicco with its Iverson-Selig award, recognizing his outstanding contributions to the minimill steel industry. The award is named after Nucor’s founder Ken Iverson and Marvin Selig, founder of CMC Steel, who were two […]
A quick note about ferrous scrap. From the early deals being done – and there are still a number yet which need to be completed. Our sources are advising us that scrap prices have been trading lower by $5 to $10 per gross ton in the east. However, in the Midwest there have been trades […]
I made a decision many years ago that when the domestic steel industry (multiple mills) announced price increases that I would automatically move the SMU Price Momentum Indicator to Neutral. Since we are already at Neutral it is important to understand that at this point prices could move up, down or absolutely nowhere from where […]
I will be in Chicago on Monday and Tuesday of this week attending the IHS Global Insight forecasting conference. If you would like to meet with me during the conference send me an email: John@SteelMarketUpdate.com and we will arrange a convenient time. I will be in Chicago on Monday and Tuesday of this week attending […]
Canadian shipments for all steel products in the month of August were 478,700 net tons, an increase of 4.2 percent from the month before but a decrease of 6.8 percent from August 2012. Inventories at the end of the month stood at 1,388,800 tons, a decrease of 5.0 percent from last month and a decrease […]
According to just released MSCI data, total steel shipments out of the U.S. service centers were reported to be 3,632,900 tons during the month of August 2013. The daily shipping rate rose from 157,500 tons per day in July to 165,100 tons per day in August. Compared to August 2012 shipments (all products) were lower […]
A new generation of solar panels has been developed by ArcelorMittal. Instead of using glass plate, a thin semi-conductor coating is layered directly on steel substrate to produce electricity via solar radiation. The photovoltaic technology using steel is more environmentally friendly process than solar modules using glass panels, said ArcelorMittal. The new technology will allow […]
The Canada Border Services Agency (CBSA) is initiating an investigation into dumping of hot-rolled carbon steel plate and high-strength low-allow steel plate originating or exported from Brazil, Chinese Taipei, Denmark, Indonesia, Italy, Japan and the Republic of Korea. The investigation, announced on September 5, was prompted by complaints by Essar Steel, Sault Ste. Marie, […]
Year to date through July, net imports of steel sheet products have been steadily declining as those of long products have been steadily increasing, (Figures 1 and 2). Net imports are defined as imports minus exports and at times can be negative for individual products when exports exceed imports. In the case of flat rolled […]
Steel Market Update (SMU) has been advised that ArcelorMittal USA is attempting to raise Tinplate prices by 12 percent for calendar year 2014. Tinplate, which is used to make cans and other product packing devices, is commonly sold on an annualized contract basis to a fairly limited number of buyers. Last week we received an […]
Service Center Deficit Will Help Keep Mill Prices Firm Flat rolled inventories are at a 466,000 ton deficit according to Steel Market Update proprietary analysis of the recently released MSCI service center inventory data. The 466,000 ton deficit is the largest one we have measured since August 2009 when it was measured at 604,000 tons. […]
JSW Steel Ltd. is considering selling its U.S. mill in Baytown, Texas said reports by Bloomberg. JSW, India’s third largest steel maker, hopes to pay off some of its debt and boost earnings margins by selling the USA asset. In its fourth quarter earnings statement in March 2013, the company reported a decline of 61.56 […]
Service Center Deficit Will Help Keep Mill Prices Firm Flat rolled inventories are at a 466,000 ton deficit according to Steel Market Update proprietary analysis of the recently released MSCI service center inventory data. The 466,000 ton deficit is the largest one we have measured since August 2009 when it was measured at 604,000 tons. […]
According to just released Metal Service Center Institute (MSCI) data, total steel inventories at the distributors as of the end of July were 7,642,600 tons. This is 12.2 percent below the 8,953,900 tons held by service centers at the end of July 2012. The daily shipment rate dropped to 157,500 tons per day (22 day […]
Canadian shipments for all steel products in the month of July were 459,400 net tons, an increase of 1.3 percent from the month before but a decrease of 2.5 percent from July 2012. Inventory at the end of the month stood at 1,462,600 tons, a decrease of 1.5 percent from last month and a decrease […]
In three months through May exports of flat products declined as those of long products remained unchanged (see graphic below). Compared to May last year total exports were up by 311 tons. This result breaks down to flat products down 21,166 tons, longs down 29,114 tons and tubulars up 43,176 tons. In all three cases […]
Imports of semi finished, and hot worked steel imports through July 2013 Imports of the combined tonnage of billets, blooms and slabs have been trending down for 12 months as have also the combined imports plate and sheet. Total long products have been trending up for all of 2013. These conclusions are based on a […]