SSAB Americas will supply the Mobile, Ala.-based shipbuilder Austal USA with steel for the construction of new U.S. Navy ships. The supplier partnership with the Alabama-based steelmaker follows Austal’s award from the U.S. Navy to build steel-hulled Towing, Salvage, and Rescue ships (T-ATS). The Navajo-class ships will be built in new steel shipbuilding facilities that […]
Evraz is a major supplier of plate and tubular goods for the traditional oil and gas markets. At the same time, it is a leader in the use of renewable energy, with an electric arc furnace mill in Pueblo, Colo., powered primarily by solar. Jefferson Shaw, vice president of strategy for Evraz North America, sees […]
New orders, production, employment, and imports grew in November. But prices fell, and delivery delays increased on tightening backlogs. That’s the takeaway from the Institute for Supply Management’s latest Manufacturing Report on Business. ISM’s Manufacturing Purchasing Managers Index (PMI) rose to 61.1% in November, up 0.3 percentage points from October and indicating continued expansion in the overall economy for the […]
Preliminary Census data shows that total foreign steel imports declined 17% in October to 2.71 million net tons, easing from September’s 28-month high of 3.26 million tons. November import licenses are currently at 2.55 million tons, a 6% decline from October and down 22% compared to September. Total finished imports are preliminarily at 2.33 million tons in […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
Plate prices moved up this week as recent mill price increases gained some traction, but prices for sheet products were flat to down, based on Steel Market Update’s check of the market on Monday and Tuesday. The plate price was up $60 to an average of $1,835 per ton, while hot rolled coil was down […]
Algoma Steel Inc. has secured Canadian $220 million (U.S. $172 million) in funding from the Canada Infrastructure Bank (CIB) to help pay for its conversion to electric-arc furnace (EAF) steelmaking. The Sault Ste. Marie, Ontario-based steelmaker said the government money would pay for equipment for the project, which carries a total price tag of approximately […]
Published mills lead times are back, another sign that the steel market is returning to something resembling normal. Hot-rolled coil lead times, for example, are three to four weeks at some mills. That would be unremarkable in a normal market. But it is news after a year in which customers were either on allocation or […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
The U.S. Commerce Department has released product- and country-specific information on the tariff-rate quota (TRQ) for individual European Union member states. Among the biggest winners are Dutch hot rolled, Swedish cold rolled, and German plate. A complete list of quotas for individual steel products and countries is below. For steel products, click here. Our friends […]
Nucor has increased plate prices by $40 per ton ($2 per cwt) with the opening of its January order book. The price hike – announced on Monday, Nov. 29 and effective immediately – is equal across all plate products. The Charlotte, N.C.-based steelmaker’s price increase is also notable because it is $10 per ton less than the […]
By CRU Principal Analyst Matthew Watkins and Analyst Iris Speelmanns, part of CRU’s steel and the energy transition series When we think about hydrogen and steel, we generally focus on steel supply. Hydrogen is a possible alternate reductant, replacing coke and offering a pathway to low-CO2 steel production. But a hydrogen economy could also be a huge […]
Flat rolled and plate steels all saw double-digit decreases this week as the price trend appears be gaining downward momentum The average price for hot rolled dropped by $50 to $1,780 per ton, the first time that benchmark has been below $1,800 since early July. Prices for cold rolled and coated products saw declines of […]
Steel buyers have gained a clear advantage when it comes to negotiating lower prices for hot-rolled coil and galvanized product. The change in pricing power toward buyers – following a year in which mills could name their price – comes as prices for most products are down, lead times are coming in, and inventories are increasing. SMU […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
Don’t forget to tune into our next Community Chat with Jefferson Shaw, vice president of strategy for Evraz North America. The free webinar will be on Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). Click here to register. We’ll talk about Evraz NA’s plans to run its steel mill in Pueblo, Colo., on […]
Algoma Steel Inc. has increased plate prices for U.S. customers by at least $50 per ton ($2.50 per cwt). The move is effective immediately for new spot orders. The increase is $60 per ton CAD for customers in Canada. The Sault Ste. Marie, Ontario-based flat rolled steelmaker said the price hike applied equally to as-rolled […]
Nucor has decreased steel pipe and tube prices by $100 per ton ($5 per hundredweight) effective immediately. The Charlotte, N.C.-based steelmaker said the drop applied equally to all new orders of hollow structural sections (HSS), pipe, mechanical tubing, and piling products. “This decrease is a result of normalized raw material costs and reduced transportation volatility,” […]
SSAB Americas, in a leading move, has increased plate prices by $50 per ton ($2.50 per hundredweight). The price hike is effective immediately for all new spot orders, the Mobile, Ala.-based steelmaker said in letters to customers on Monday, Nov. 22. The amount of the increase is $60 per ton CAD for customers in Canada. The […]
SMU is pleased to announce that our next Community Chat will feature Jefferson Shaw, vice president of strategy for Evraz North America. Mark your calendar for Wednesday, Dec. 1, at 11 a.m. ET (10 a.m. CT). And click here to register. It’s free. We’ll talk about Evraz NA’s plans to run its steel mill in […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
Sheet and plate prices are nearing parity for the first time in about a year, the latest sign of a market in flux. Below is a good way to visualize that trend. The chart below maps out the spread between sheet and plate going back to 2017. If we rewind to mid-November of last […]
At the direction of the U.S. International Trade Commission, the U.S. Commerce Department will continue to investigate oil country tubular goods (OCTG) imports from Argentina, Mexico and Russia that are allegedly being subsidized and dumped in the U.S. at below fair value. In a Nov. 19 vote, the USITC ruled there is reasonable indication that […]
By CRU Senior Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service, Nov. 18 In the last several weeks, U.S. sheet prices have started to decline, though prices remain well above global prices. Under pressure from imports and service centers eager to sell high-cost inventory before the end of the year, prices for processed […]
Nucor Corp. will add a blast and prime line to its greenfield steel plate mill currently under construction in Brandenburg, Ky. The blast and prime line will have an annual capacity of approximately 120,000 tons and will provide the Nucor Plate Group with even broader capabilities and offerings for buyers of wider and thicker plate products. The Charlotte-based steelmaker […]
Steel Market Update’s poll of buyers on Monday and Tuesday showed further small declines for flat rolled steel prices, while plate prices were up a bit. No sign yet of a sharp correction as prices continue to ease downward. The benchmark price for hot rolled is now down to $1,830 per ton, $25 lower than […]
Steel Market Update is pleased to share the below excerpt of a Premium item with Executive members. SMU publishes service center shipment and inventory data for Premium subscribers on the 11th business day of each month, one day after our data providers receive the data. Premium member reports include expanded analysis with detailed shipment and inventory levels, […]
Flat Rolled = 56.7 Shipping Days of Supply Plate = 62.0 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories increased in October, as shipments slowed, according to Steel Market Update data. At the end of October, service centers carried 56.7 shipping days of supply on an adjusted basis, compared to 54.5 […]
Imports of less-expensive sheet and plate products have been on the rise for the past five months as buyers continue to seek relief from record-high steel prices in the U.S. September Commerce Department data show imports’ share of the U.S. flat-products markets at their highest levels in the past 4-5 years. Imports’ share of total […]