The news in the West was that a mill in the Rocky Mountain region made a significant reduction in their usual purchase program, while still another small mill in the region also apparently reduced their buying program for February.
Falling US sheet prices have reduced the attractiveness of hot-rolled (HR) coil imports as domestic mills price competitively to secure limited business. However, tightness in the CR coil market has extended delivery to June or July in some cases, and buyers may consider to import given competitive prices and arrival times.
Nucor Corp. announced plans to build a new rebar micro mill in the Pacific Northwest.
What's the steel market talking about at present?
The scrap export market has demonstrated resiliency so far this year from the US East Coast. This strength has mainly come from the Turkish market. Despite weakening orders for rebar in their domestic market, imported scrap prices have held up until the last several days. The US West Coast is not as active, but there are orders in South Asia and in South America that are keeping things afloat.
Speaking during a fireside chat at the Tampa Steel Conference on Monday, Jan. 29, Hybar CEO David Stickler provided a status update on the company’s new rebar mill project and its plans for the future, including the possibility of a flat-rolled steel mill.
Nucor is optimistic about long-term activity from bridges and highways, semiconductor chip plants and renewable energy, but still sees some short-term challenges. The North Carolina-headquartered steelmaker expects the federal programs that support these megatrends “to add somewhere between 5 million to 8 million tons of incremental annual demand for steel over the next several years,” […]
Nucor Corp. reported a decline in profits during the fourth quarter due to lower pricing and volumes.
The Tampa Steel Conference is just a few days away. Here are some topics I’m looking forward to learning more about during the proceedings on Monday and Tuesday. For starters, we’ll have about a month of 2024 under our belt when we convene on Sunday. How does that compare to what we thought the start of the year would look like? And what’s the outlook for the balance of the year?
Commercial Metals Co. saw robust demand from the construction markets in its first fiscal quarter, which ended on Nov. 30, 2023.
The iron ore price has edged up further from the already high level seen last week. The market is generally slow, meaning that the moderate price increase came from the bullish outlook from the market following last week’s stimulus announcements from China and expectations of restocking picking up. Supply fell w/w from both Australia and Brazil as […]
After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe.
Hybar's new rebar mill is set to be outfitted with 16 cranes of various capacities, according to a news release from Finnish crane manufacturer, Konecranes.
Turkish scrap import prices increased for a third consecutive week.
Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]
In the dynamic landscape of the steel futures market, a confluence of factors is shaping the current narrative.
The decline in imports from August to September was more pronounced than license applications suggested earlier this month.
Nucor Corp. remains incredibly bullish long-term on steel demand, but an underlining theme during the steelmaker’s third-quarter earnings conference call with analysts on Tuesday, Oct. 24, was tempered near-term expectations.
Nucor reported a drop in third quarter profits on lower steel prices, with the biggest hit to earnings occurring at its sheet mills. And the Charlotte, N.C.-based electric-arc furnace (EAF) steelmaker doesn't see things improving in the fourth quarter.
Nucor Corp. announced it is considering installing a new rebar micro mill in the Pacific Northwest.
Specialty steel producer Grupo Simec has permanently closed down its Republic Steel mills in Canton, Ohio, and Lackawanna, in New York state, it has emerged.
With solid demand and attractive margins, the North American market has been helping to prop up CMC’s results as its European operations struggle with weaker demand amid challenging market conditions.
Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […]
Nucor broke ground on its newest micro mill in Lexington, N.C., on Friday.
Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.
Nucor executive Daniel Needham detailed at this year's Steel Summit what’s on the horizon for the steelmaker as the company continues to diversify.
Longs producer and metal recycler Gerdau reported lower second-quarter production and shipments due to several mill outages.
David Stickler is eager to demonstrate how advancements in technology can contribute to making the rebar market more sustainable.
The newly formed Hybar company has secured financing for its planned 630,000-tons-per-year rebar mini mill being built in northeast Arkansas.
A preliminary count of imports during the month of June shows little changes from SMU’s previously reported import license analysis. Total imports were 2,792,674 net tons in June’s preliminary count by the US Department of Commerce. As SMU reported earlier this month, that’s the highest level imports have been over the past year. Flat-rolled imports […]