Tomorrow (Wednesday), we will host one of our SMU Community Chat Webinars with Rick Preckel of Preston Pipe and Michael Cowden of SMU. The two will discuss the energy segment and how higher oil prices will impact oil well drilling, use of line pipe and other OCTG products, and how quickly we may see demand […]
John Packard founded Steel Market Update in 2008 after spending 31 years actively selling steel in the service center, steel mill and trading company segments of the industry. He is currently President & CEO of Steel Market Update which was sold to CRU in 2018. Steel Market Update is a leader in collection of market […]
SSAB has increased plate prices by $80 per ton ($4/cwt) for U.S. customers and C$100 per ton for customers in Canada. The price hike is effective immediately and applies to all new non-contract orders of as-rolled mill plate, cut-to-length plate more than 72 inches wide, hot rolled coils more than 72 inches wide, normalized plate […]
There has been much said about the squeeze on supply of flat rolled and not as much about demand. Demand has been quite good in all sectors except the energy sector, which has been struggling for a couple of years due to prices that went below $40 per barrel. Now we are seeing warning signs […]
JSW Steel USA resumed operations at its Baytown, Texas, plate and pipe mill on Feb. 25–earlier than expected, the company’s top executive said. And the steelmaker remains on track to begin melting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, in March, JSW Steel USA CEO Mark Bush told Steel Market Update. “We […]
JSW Steel USA resumed operations at its Baytown, Texas, plate and pipe mill on Feb. 25–earlier than expected, the company’s top executive said. And the steelmaker remains on track to begin melting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, in March, JSW Steel USA CEO Mark Bush told Steel Market Update. “We […]
Evraz North America has followed Nucor in increasing plate prices by at least $70 per ton ($3.50/cwt). The steelmaker said that the increase–$90 CAD for customers north of the border–was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to letters to customers on Feb. […]
“Life at Cleveland-Cliffs has been intense,” said CEO Lourenco Goncalves, referring to a pandemic-challenged year in 2020 and major changes to what just one year ago was an iron ore company. “Without question, 2020 was the most transformational year in our company’s 173-year history,” said Goncalves. “We completed two seminal acquisitions, AK Steel and ArcelorMittal […]
“Life at Cleveland-Cliffs has been intense,” said CEO Lourenco Goncalves, referring to a pandemic-challenged year in 2020 and major changes to what just one year ago was an iron ore company. “Without question, 2020 was the most transformational year in our company’s 173-year history,” said Goncalves. “We completed two seminal acquisitions, AK Steel and ArcelorMittal […]
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 […]
Nucor has increased plate prices by $70 per ton ($3.50/cwt) effective immediately. The steelmaker’s new ex-works base price for cut-to-length Grade A36 plate is now $1,090 per ton, up from $1,020 per ton a month ago. The new base price for quenched-and-tempered A514 Grade B is $1,340 per ton, up from $1,270 per ton in […]
Nucor has increased plate prices by $70 per ton ($3.50/cwt) effective immediately. The steelmaker’s new ex-works base price for cut-to-length Grade A36 plate is now $1,090 per ton, up from $1,020 per ton a month ago. The new base price for quenched-and-tempered A514 Grade B is $1,340 per ton, up from $1,270 per ton in […]
Algoma Steel has struck an arc at its second ladle metallurgy furnace (LMF), a move expected to increase capacity by approximately 100,000 tons per year, the company said. The second LMF – officially No.2 LMF – has annual capacity of 2.1 million tons and complements the Canadian flat-rolled steelmaker’s No.1 LMF. The addition of a second LMF […]
Mill shipments and supply of sheet products rose by nearly 6.5% month on month in December, a positive close to 2020. Plagued earlier on by COVID, sheet shipments stalled in last year’s second quarter. After reaching bottom in June, they have climbed steadily since. This analysis is based on steel mill shipment data from the […]
Tube mills in the U.S. and Canada have followed Nucor in raising prices on hollow structural sections (HSS) and other non-energy tubulars by about $50 per ton ($2.50/cwt). The increases are necessary in response to higher coil costs and strong customer demand, according to some producers. Atlas Tube is raising prices on all new orders […]
“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 […]
It is my opinion the U.S. is entering a “super cycle” that will be good for the steel industry and could well keep steel prices above the historical $600-$650 per ton average on benchmark hot rolled coils. This does not mean prices won’t scale back once more supply comes into the market. I am of […]
Many buyers have been expecting lead times for deliveries of spot steel orders to begin shortening in response to added mill capacity and more import arrivals, but there’s no hint of such a change yet in Steel Market Update lead times data. In fact, SMU’s check of the market this week shows lead times for […]
Many buyers have been expecting lead times for deliveries of spot steel orders to begin shortening in response to added mill capacity and more import arrivals, but there’s no hint of such a change yet in Steel Market Update lead times data. In fact, SMU’s check of the market this week shows lead times for […]
Lead times for spot orders of cold rolled and coated products have now extended to more than 10 weeks, while lead times for hot rolled now exceed nine weeks, based on Steel Market Update’s check of the market this week. Despite widespread expectations that mill lead times are overdue to reverse course as supplies catch […]
It is my opinion the U.S. is entering a “super cycle” that will be good for the steel industry and could well keep steel prices above the historical $600-$650 per ton average on benchmark hot rolled coils. This does not mean prices won’t scale back once more supply comes into the market. I am of […]
All but a tiny 3% of respondents to Steel Market Update’s questionnaire this week reported that the flat rolled mills remain unwilling to negotiate steel prices. Plate negotiations are only slightly more open, with 17% of buyers saying there is some wiggle room in price talks with the plate producers. As long as steel demand […]
Import license data for February is not complete, but foreign arrivals of some flat-rolled steel products are already running ahead of January volumes, according to Commerce Department figures. And with lead times at domestic mills running close to or even with import arrival times, that trend might continue, some market participants said. Hot Rolled and […]
Good news for NLMK USA customers as the mill has worked out a tentative agreement with the union at their Farrell, Pa., facility, which will end the strike that goes back to late August. Once back in production, this will help (slightly) with some of the supply issues we have been seeing in the market. […]
Speculation that hot rolled steel prices could reach $1,200 per ton drew scoffs from some quarters just two months ago, yet here we are. Steel Market Update’s check of the market this week shows the average HR price up a further $20 per ton to yet another record high. The HR price surpassed the former […]
Severe winter weather across much of the U.S. has slowed commerce to a crawl in many areas, including disruptions to steel production and shipments that could linger for days. The National Weather Service warned Tuesday that the major winter storm responsible for producing big snow and ice accumulations in parts of the central and eastern […]
Severe winter weather across much of the U.S. has slowed commerce to a crawl in many areas, including disruptions to steel production and shipments that could linger for days. The National Weather Service warned Tuesday that the major winter storm responsible for producing big snow and ice accumulations in parts of the central and eastern […]
Flat Rolled = 40 Shipping Days of Supply Plate = 46.5 Shipping Days of Supply Flat Rolled End-of-January service center flat rolled steel inventories fell back to levels seen in November 2020. At the end of January, service centers carried 40 shipping days of supply – tied with November for the lowest inventory level in […]
This report examines the import share of sheet, plate, long and tubular products. As of December 2020, imports’ share of total sheet products was 12.3%, up from 11.4% in November. The increase, albeit marginal, is notable as it’s the first increase for imports after declining for seven consecutive months following the most recent peak of 16.6% in […]
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 […]