Temperatures today in a large portion of the Northern U.S. are at or below freezing. This is not expected to change once we move into February. As you watch football this weekend, the weather in Tampa is expected to be in the low to mid-70’s and sunny…. Registrations for the 2022 Tampa Steel Conference are […]
Temperatures today in a large portion of the Northern U.S. are at or below freezing. This is not expected to change once we move into February. As you watch football this weekend, the weather in Tampa is expected to be in the low to mid-70’s and sunny…. Registrations for the 2022 Tampa Steel Conference are […]
The management team at Ryerson reported solid third-quarter results on Thursday and expressed optimism about underlying demand in the fourth quarter and into next year. “The pricing environment is still healthy and strong underpinned by good demand – demand deferred, not denied – and we see that continuing into 2022,” Ryerson President and CEO Eddie […]
Whether they believe steel prices are in for a sharp or a gradual correction, most of the service center and manufacturing executives responding to SMU’s latest survey agree the market is at a turning point. Here are a few of their recent observations: “Yes, I think we are at the inflection point. The market appears to be […]
Central Steel & Wire, a subsidiary of Ryerson Holding Corp., has signed a lease for a 900,000-square-foot service center facility in University Park, Ill., that will become CSW’s headquarters and operational hub. Strategically located just south of Chicago, the build-to-suit facility will allow the company to cover a broad geographical area. “This new facility represents an […]
Ryerson has acquired Specialty Metals Processing (SMP) as it looks to expand its value-added offerings and its presence in the stainless arena. Stow, Ohio-based SMP toll processes stainless steel, aluminum, titanium and nickel alloy products for specialty markets such as aerospace, Ryerson said. It also offers expertise in buffing, grinding and polishing, the Chicago-based service […]
On Friday, Steel Market Update sent data providers the final analysis for July of service center inventories, shipments, steel on-order, and percentage of inventories tied up for contract sales. Premium members will receive the report on Monday. As expected, after reviewing our Flash Report which is provided to data providers five days into the new […]
One Week to Go… There is now but one week to go before the doors open at the Georgia International Convention Center (GICC) in Atlanta for the 2021 SMU Steel Summit Conference on August 23. This year the conference will be unique as it will be a “hybrid” event. By this I mean we will […]
Just because all major U.S.-based steel mills have reported quarterly results doesn’t mean that earnings season is over. Results from mills based abroad are coming in. And those of you still paying attention to earnings might have noticed a change in tone between when Steel Dynamics kicked things off on July 19 and when Evraz […]
Ryerson recorded its best quarterly profits since 2008 in the second quarter and expects the good times to continue into the third. “We’re not declaring an end to cyclicality in our industry, but noting strong secular growth underpinnings that have been supressed for a long time,” Ryerson President and CEO Eddie Lehner said during a […]
2021 SMU Steel Summit Conference – Revised Agenda as of July 27, 2021 The 2021 SMU Steel Summit Conference will be held at the Georgia International Convention Center on Aug. 23-25. The convention center is conveniently located next to the Atlanta International Airport (ATL). The center and the hotels surrounding the convention center are on […]
You may be tired of reading about it, but there is no ignoring the question: When will hot rolled coil prices finally peak? So many livelihoods depend on the answer. Unfortunately, Steel Market Update survey data clearly shows that no one knows. Roughly one-third of those polled this week believe steel prices will have peaked […]
You may be tired of reading about it, but there is no ignoring the question: When will hot rolled coil prices finally peak? So many livelihoods depend on the answer. Unfortunately, Steel Market Update steel survey data clearly shows that no one knows. Roughly one-third of those polled this week believe hot rolled steel prices […]
The 2021 SMU Steel Summit Conference is seven weeks away and the SMU and CRU events teams are fully focused on making this year’s event one to remember. As always, the place to be on Aug. 23-25 will be the Georgia International Convention Center, which is located right next to the Atlanta International Airport (ATL). […]
The 2021 SMU Steel Summit Conference is seven weeks away and the SMU and CRU events teams are fully focused on making this year’s event one to remember. As always, the place to be on Aug. 23-25 will be the Georgia International Convention Center, which is located right next to the Atlanta International Airport (ATL). […]
Once Produced…Can We Even Get It Shipped? Transportation issues continue to plague the flat-rolled and plate steel markets. It’s bad enough that many steel mills are running one to four weeks late against their original promise date. We are hearing once the steel is produced it can take days to weeks of waiting for a […]
Once Produced…Can We Even Get It Shipped? Transportation issues continue to plague the flat-rolled and plate steel markets. It’s bad enough that many steel mills are running one to four weeks late against their original promise date. We are hearing once the steel is produced it can take days to weeks of waiting for a […]
We are approaching 550 registered attendees for this year’s SMU Steel Summit Conference. Activity has been high and we are confident we will reach our 800+ registered attendee goal. Just last week we received registrations from the following companies: Niagara LaSalle Steel, JN Linrose Manufacturing, Atlantic Logistics LLC, Steel Dynamics Inc*., Alliance Steel LLC*, Rock […]
We are approaching 550 registered attendees for this year’s SMU Steel Summit Conference. Activity has been high and we are confident we will reach our 800+ registered attendee goal. Just last week we received registrations from the following companies: Niagara LaSalle Steel, JN Linrose Manufacturing, Atlantic Logistics LLC, Steel Dynamics Inc*., Alliance Steel LLC*, Rock […]
A reminder to our readers – Steel Market Update will not publish a Sunday evening issue due to this weekend being a national holiday here in the United States (Memorial Day). We will publish as normal on Tuesday, June 1. Inventories are a key component when it comes to understanding the squeeze we have with […]
Time for Good News… It is time for optimism as the pandemic begins to fade in the USA, reported a Washington Post article posted at 2:18 p.m. this afternoon. Today, the Centers for Disease Control (CDC) stated that fully vaccinated Americans no longer need to wear masks indoors or outdoors. “Americans who are fully vaccinated […]
Ryerson’s first-quarter profits expanded despite an “extreme commodity environment” thanks to strong demand, higher selling prices and the sale of a facility in Washington. And the Chicago-based metals service center thinks the black ink will flow into the second quarter as well. “At this point in the second quarter, demand fundamentals have continued to improve […]
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 […]
Executives at Ryerson, the nation’s second largest service center company, remain optimistic about their prospects for 2021, even after reporting a net loss of $65.8 million on revenues of $3.47 billion in 2020. The company saw a 23% drop in sales last year due to the pandemic. Revenues improved by 2.6% in the fourth quarter […]
Steel prices will likely stay elevated until supplies catch up with demand, say the experts, so is there enough foreign steel on the way here to make a difference? Two out of three respondents to a recent SMU survey said foreign offers are very competitive versus domestic prices. With steel prices in the U.S. at […]
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. […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […]
Update on Tampa Steel Conference registrations: We are moving past 250 registered attendees for the Feb. 2 virtual conference. We fully anticipate the 32nd annual Tampa Steel Conference will attract 350-400+ attendees from manufacturing, distribution, steel mills, trading companies, logistics companies, ship lines, port facilities, toll processors and suppliers to those industries. You can learn more about the […]
Ryerson Holding Corporation has appointed James Claussen as executive vice president and chief financial officer, effective Jan. 11. Claussen joined Ryerson in 2002 and has held several senior management and leadership positions including CFO of Ryerson’s North-West Region and general manager of corporate development. He was named president of Central Steel & Wire Co. following […]