Tag: Sheet

I was asked to do an interview for a cable news channel in Ohio about Nippon Steel’s planned acquisition of U.S. Steel for more than $14 billion.

US hot-rolled coil (HRC) prices were unchanged week over week (WoW) following a string of mostly upward moves dating back to late September.

US steel production increased for the week ended Dec. 16, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 18.

Nippon Steel will acquire U.S. Steel in a deal valued at $14.9 billion, or $55 per share, the two companies announced on Monday morning. The Japanese steelmaker will keep U.S. Steel's iconic logo and its Pittsburgh headquarters, the companies said.

As 2023 draws to a close, I wanted to look back on some of the key events and themes of the year. But I’m going to hold off on that idea because we were – as of Sunday afternoon - still waiting on news about arguably the biggest event of the year, the potential sale of U.S. Steel.

The 2024 Tampa Steel Conference is coming up soon after the kickoff of 2024. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.

The LME aluminum 3-month price is moving higher on the morning of Dec. 15 and was last seen trading at $2,258 /metric ton. This means the price is up 7% already since the new low for 2023 was reached on Wednesday at $2,109 /metric ton. The US Dollar reached its lowest level since early August […]

Thursday felt eerily quiet after a frenzy of steel and financial market news on Wednesday.

U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.

The US Treasury Department and Internal Revenue Service (IRS) announced on Dec. 14 proposed regulations for aluminum production under the Inflation Reduction Act (IRA). According to irs.gov, Section 45X of the Internal Revenue Code (IRC) “provides a credit for the production (within the US) and sale of certain eligible components including solar and wind energy […]

U.S. Steel has resumed normal production of cold-rolled coil (CRC) at its Irvin Plant, part of the steelmaker’s Mon Valley Works in western Pennsylvania.

Lower prices and volumes will impact Nucor Corp.’s earnings in the current quarter, the steelmaker said in fourth-quarter earnings guidance on Thursday, Dec. 14.

The US Department of Commerce’s International Trade Administration (ITA) has updated the antidumping duties on coated sheet imports from South Korea and Taiwan.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]

Sheet prices increased again this week on the heels of higher costs for scrap, pig iron, and iron ore.

Domestic steel production slipped for the week ended Dec. 9 but rose in three regions, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 11.

The International Trade Commission (ITC) made its final injury determination in a sunset review of import duties on circular welded pipe from a handful of countries.

This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.

U.S. Steel will continue to operate the hot strip mill and finishing lines at its Granite City Works in southern Illinois.

US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.

A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.

October saw domestic heating and cooling equipment shipments drop for a second consecutive month, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

The LME Aluminum 3-month price is moving up again on the morning of Dec. 8 and was last seen trading at $2,157 per metric ton. The way the price increased first thing in the morning suggests a support may have finally been found, but resistance could hit quickly at $2,200 /metric ton. SHFE cash was […]

We have seen a wave of service center transactions announced since the beginning of the month.

The percentage of steel buyers saying mills were willing to budge on spot pricing has risen for all sheet products SMU surveys, according to our most recent survey data.

Movements in lead times were mixed in SMU’s check of the market this week – a reflection of the seasonal dip in ordering that is typically seen during the winter holiday season.

American steel mills sent out more tons of steel in October than the previous month, according to the latest monthly data from the American Iron and Steel Institute (AISI). Domestic mills shipped 7,346,373 net tons in October, up 1.3% from the 7,252,942 tons sent out in September. Shipments were also up 1.9% compared to the […]

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, lead times, scrap prices, performance, purchasing, and demand. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your thoughts, too! Contact david@steelmarketupdate.com to be included […]

Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).

I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]