Steel buyers have mixed views on the sustainability of steel demand and the likelihood the mills will continue to collect higher prices. In our latest check of the market, SMU asked: Do you think the mills will be able to collect the price increases they announced last week on flat rolled and plate products? Do […]
The Cleveland-Cliffs/ArcelorMittal merger may throw a curve at the Steelmageddon theory, said Bank of America steel analyst Timna Tanners during Wednesday’s Steel Market Update Community Chat Webinar. The Cliffs/AM combination includes two mills that are more than 100 years old and another that is 50 years old. A move by Cliffs to permanently close some older blast […]
I have been communicating with Mark Bush, CEO of JSW Steel USA, regarding their Mingo Junction steel plant. The plant has been down since late July as the company reacted to “unforeseeable business circumstances in connection with the current COVID-19 pandemic….” The plant has been rumored to begin operations in February 2021. SMU reached out […]
Flat rolled steel prices saw a big jump this week nearly equivalent to the $50 per ton increase announced by the mills last week. Steel Market Update’s latest check of the market puts the current benchmark price for hot rolled at $650 per ton. The mills also announced price increases on plate last week, with […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Market Outlook In less than a year Cleveland-Cliffs has transformed themselves from a Great Lakes-based iron ore miner to the largest fully integrated flat rolled steel producer in the USA. Cliffs has done this by acquiring AK Steel earlier this year and now they […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
On Thursday, Steel Market Update produced an article on lead times with the headline, “Steel Mill Lead Times: Mixed Messages.” The lead times being discussed in the article come from our proprietary survey, which is produced every other week. The lead times are based on the average from the manufacturing companies and steel service centers […]
With steel mills currently having extended mill lead times, steel buyers need to be cognizant of their inventories. If one has two months of inventory and the mills are running seven-week lead times on your products, then you need to be concerned should lead times move out even further. If you are an active buyer […]
With steel mills currently having extended mill lead times, steel buyers need to be cognizant of their inventories. If one has two months of inventory and the mills are running seven-week lead times on your products, then you need to be concerned should lead times move out even further. If you are an active buyer […]
Lead times for spot orders of hot rolled and Galvalume steels continued to lengthen a bit over the past two weeks, while lead times for cold rolled, galvanized and plate products were flat to slightly lower. Lead times for hot rolled now average more than five and a half weeks, cold rolled more than seven […]
It’s a seller’s market as the mills hold firm in price talks on hot rolled, cold rolled and coated steel orders, while they seek to collect the higher prices announced this week in an improving market, according to respondents to Steel Market Update’s market trends questionnaire. About 77 percent of the hot rolled steel buyers […]
Mills continue to stand firm in price talks on hot rolled, cold rolled and coated steel orders as they seek to collect the $40-50 price increases they announced two weeks ago, report respondents to Steel Market Update’s market trends questionnaire. Based on SMU’s latest check of the market, the benchmark price for hot rolled steel […]
Following on the heels of plate price increases earlier this week, the mills have announced another $50 increase on flat rolled. On Wednesday, Nucor’s Sheet Mill Group notified customers that it is increasing base prices on new orders of hot rolled, cold rolled and galvanized products by a minimum of $50 per ton, effective immediately. […]
Following on the heels of plate price increases announced this week, the mills have begun raising prices on flat rolled as well. Sources tell Steel Market Update that ArcelorMittal USA has informed customers of new minimum base prices of $650 per ton for hot rolled, and $850 per ton for cold rolled and coated products, […]
Building on the success of Steel Market Update’s Virtual Steel Summit in August, which attracted more than 900 attendees to the COVID-safe online event, SMU will host a virtual version of its popular Steel 101 Workshop on Oct. 20-21 using a similar online platform. SMU’s team of expert instructors will describe the structure of the steel […]
Mill lead times are extended, price increase announcements are being made (with ArcelorMittal USA putting a minimum base price on hot rolled out there of $650 per ton and cold rolled and coated at $850 per ton) and mills are holding the line on spot negotiations. Momentum is clearly on the side of the steel […]
Steel prices continue to see some upward momentum as flat rolled and plate prices rose by another $5-15 per ton, according to Steel Market Update’s check of the market this week. The mills announced further $40-50 price hikes on plate on Monday and Tuesday in hopes of sustaining that momentum. Here is how we see […]
Cleveland-Cliffs is about to become the largest flat-rolled steel producer in North America. The company announced Monday that it will acquire the operations of ArcelorMittal USA and its subsidiaries for a purchase price of approximately $1.4 billion in equity and cash. The transaction includes 78.2 million shares of Cleveland-Cliffs common stock valued at $500 million, […]
Cleveland-Cliffs is about to become the largest flat-rolled steel producer in North America. The company announced Monday that it will acquire all of the operations of ArcelorMittal USA and its subsidiaries for a purchase price of approximately $1.4 billion. The deal is expected to close in the fourth quarter of 2020. The ArcelorMittal assets include […]
All the integrated steel mills in the United States will soon be controlled by U.S. companies. Cleveland-Cliffs is buying ArcelorMittal USA assets…well, most of the U.S. assets. They did not acquire the ArcelorMittal/Nippon Steel Calvert steel mill located just outside of Mobile, Ala., and they did not purchase the Dofasco plant located in Hamilton, Ontario, […]
From the CRU weekly Steel Monitor: Most Chinese product prices were either unchanged or marginally lower this week, except for HR coil, that has fallen RMB220 /t ($32 /t) over three weeks. Although this keeps Chinese prices at a relatively high level, it has created caution and may now indicate a limit to how far rallies in […]
Flat rolled steel prices continue to rise as demand improves, lead times extend and supplies remain a bit tight. Prices rose a further $10-40 per ton, based on Steel Market Update’s check of the market this week, with hot rolled reaching the psychological high mark of $600 per ton. SMU’s price momentum indicators remain pointed […]
Flat rolled steel prices continue to rise as demand improves, lead times extend and supplies remain a bit tight. Prices rose a further $10-40 per ton, based on Steel Market Update’s check of the market this week, with hot rolled reaching the psychological high mark of $600 per ton. SMU’s price momentum indicators remain pointed […]
Demand remains strong even as galvanized steel prices have topped $900 per ton, reported members of the Heating, Air Conditioning & Refrigeration Distributors International in a conference call this morning. But the HARDI members—wholesalers who serve the HVAC market—expressed concern about the tight availability of galvanized steel and fear of running low on supplies. “We are […]
California Steel Industries notified customers on Monday, Sept. 21, that it has raised prices on its flat rolled products by $60-70 per ton ($3.00-3.50/cwt) due to changing market conditions. Effective immediately on all unconfirmed orders, prices for hot rolled, P&O and galvanized have increased by a minimum of $60 per ton, while cold rolled is […]
I am back. One of the questions I got on this morning’s HARDI steel conference call was if I really did go off the grid and not stay in touch with the market over the 24 days that I was away from my office? The answer was I rented a cottage about as far off […]
Lead times for spot orders of flat rolled and plate steels continue to extend and are around two weeks longer than in April at the depth of the pandemic as demand recovers and supplies tighten. Lead times for hot rolled now average five and a half weeks, cold rolled and galvanized over seven weeks, and […]
With steel prices on the rise and another round of increases in play, the mills appear to have the upper hand in negotiations. The mills are holding the line in price talks on hot rolled, cold rolled and coated steel orders, as well as plate, according to respondents to Steel Market Update’s market trends questionnaire […]
Flat Rolled = 48.6 Shipping Days of Supply Plate = 56.9 Shipping Days of Supply Flat Rolled Service centers’ flat rolled steel supply reached its lowest point of the year in August, as shipments increased and intake remained nearly flat month on month. In August, service centers carried 48.6 shipping days of supply of flat […]
National level import reports do a good job of measuring the overall market pressure caused by the imports of individual products. The downside is that there are huge regional differences. This report examines coiled plate imports by region through July 2020. In July, coiled plate imports were down by 34.2 percent at the national level, […]