Despite the economic and geopolitical upheaval of the last five years, CMC President and CEO Peter Matt points out that the construction market has been an essential element of the way forward.
Pacific Steel Group has broken ground on its Mojave Micro Mill in Southern California.
There's a lot of production waiting to come online
Green & Clean Power will supply electricity to Hybar’s mill that is due to begin operations next summer.
Import duties on rebar from a handful of countries will continue to be collected for at least another five years.
CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]
Hybar said that contracting services firm Quanta Services has made a “strategic” investment in the company as it build its sustainable rebar mill in northeast Arkansas.
Hybar CEO David Stickler and SMU Managing Editor Michael Cowden shared a candid conversation about Hybar's ambitious plans on Tuesday morning at the SMU Steel Summit, held in Atlanta this week.
Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.
Longs producer and metal recycler CMC plans to open a new rebar fabrication plant in Akron, Ohio.
Radius Recycling continued to bleed red in its most recent quarterly report as it negotiated persistently challenging conditions in the recycled metals market.
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
Nucor plans to add a new rebar fabrication facility adjacent to its new micro-mill in North Carolina.
The city of Quincy, Wash., in Grant County is being considered among possible locations for Nucor’s proposed rebar micro-mill in the Pacific Northwest, according to a local report.
The chairman of a large American steel company called for Mexico to be dropped from USMCA at a steel industry conference last week. This follows earlier calls from members of Congress to reinstate Section 232 duties on Mexico. How did we get to this point?
CMC reported solid demand and a healthy start to the construction season in its latest quarterly earnings statement.
Nucor Corp. has guided to much lower second-quarter earnings, as profitability in its steel mills segment suffers due to lower prices and volumes.
Mexican steelmaker Deacero recently broke ground on a $600-million mini-mill in Ramos Arizpe, Coahuila, in northern Mexico.
Sufficient inventories resulting in softer demand continued to drag down US longs prices this month. Furthermore, lower scrap prices in May added to the downward pressure and expectations for June scrap are turning increasingly bearish. Import interest was also limited, particularly as competition among domestic producers rose.
President Joe Biden announced that the US will extend the suspension of Section 232 tariffs on steel products imported from Ukraine for another year. The Biden administration first lifted the 25% Section 232 tariffs on steel imports from Ukraine after the breakout of war with Russia in 2022. The initial waiver was good for one […]
Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.
Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
What a difference a month makes. In late March, it seemed like the US hot-rolled (HR) coil market was poised to cycle upward. Large buyers had re-entered the market and placed big orders earlier in the month. Several outages were underway or upcoming. And expectations were that lead times would continue to extend. Cliffs said […]
Hybar CEO David Stickler will be the featured speaker on the next SMU Community Chat webinar on Wednesday, May 1, at 11 a.m. ET. The live webinar is free. A recording will be available to SMU members. You can register here.
I was in Las Vegas last week for ISRI’s annual convention. I like Vegas. I’ve had some fun there over the years. (I was married there nearly 20 years ago. We're still together.) And last week was no exception. So let’s start with the big news from Sin City. When the recycled materials industry meets for the big event next year, it will be under the banner of "ReMA" – not "ISRI".
The steel market appears to be finding a new, higher normal with the shocks of the pandemic and the Ukraine in the rearview mirror. The good news: a more profitable and consolidated post-Covid US steel industry has been able to invest in operations. That includes efforts to decarbonize. The bad news: That “new normal” could be tested. Because it’s not just domestic sheet prices that have been volatile. Geopolitics are too.
Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?
SMU latest' steel market survey paints the picture of sheet market that has hit bottom and begun to rebound. Lead times are extending again after stabilizing earlier this month. Mills are far less willing to negotiate lower sheet prices - even if there are still deals to be had on plate, according to the steel buyers we canvassed.
A temporary surplus of rebar on the West Coast is forcing CMC to alter the planned ramp-up of its Arizona 2 micro-mill, the company's leader said on Thursday.