SDI Posts Q3 Profit Drop on Lower Steel Prices
Steel Dynamics Inc. (SDI) reported a drop in third quarter profits on lower prices for flat-rolled steel as well as for fabricated products.
Tag: Sheet
Market Chatter This Week
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.
Final Thoughts
If you think prices will continue to rise, you might point to longer lead times and stable order entry.
SMU Price Ranges: Sheet Prices Up Again, But Outlooks Diverge
Sheet prices notched a third consecutive week of gains on limited supply and stable demand outside of automotive operations impacted by the UAW strike.
U.S. Steel Debuts New Product, COASTALUME
U.S. Steel, in collaboration with DuPont, announced on Tuesday a new product, COASTALUME™, engineered specifically for coastal environments.
Worldsteel Elects Nucor’s Topalian as New Chairman
Nucor’s President and CEO Leon Topalian has been named the new chairman of the World Steel Association (worldsteel).
Service Center Shipments and Inventories Report for September
US service center flat-rolled steel inventories declined for a second month as shipping rates picked up in September.
Final Thoughts
SMU’s latest survey data are out, and they reflect a consensus among steel buyers that sheet prices have bottomed out and might rebound. Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. And 70% of survey respondents think prices have already bottomed out or will later this […]
Rig Count Inches Up in US, Rebounds in Canada
The latest data from oilfield services provider Baker Hughes shows the number of active rotary rigs in the US and Canada bounced back during the week ended Friday, Oct. 13.
SMU Market Survey Results Now Available
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]
Final Thoughts
The sheet market appears poised for a rebound if you’re looking at the indicators we typically track.
Buyers Say Mills Less Willing to Negotiate Lower Prices: SMU Survey
The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.
Foreign and Domestic HRC Prices Near Parity
US hot-rolled coil (HRC) and offshore product are nearly back even again after domestic prices moved higher for the second straight week.
SDI Slates Four-Day Outage at Indiana Sheet Mill
Steel Dynamics Inc. (SDI) plans to take a four-day outage at its sheet mill in Butler, Ind., according to sources familiar with the matter.
SMU Survey: Lead Times Extend Across the Board
This week’s survey showed steel mill lead times extending across all product lines tracked by SMU.
Final Thoughts
Sheet prices remain on an upward trend. Many of you expect that to remain the case - assuming that the UAW strike doesn’t drag on much longer.
SMU Price Ranges: Sheet Rises Again, HRC Firms Around $700/ton
Sheet prices moved upward for the second week in a row despite the ongoing UAW strike and concerns in some corners that momentum from a price hike last month might be fading, market participants said.
US and EU to Discuss 'Global Arrangement' for Steel and Aluminum
The US and European Union will continue trade talks on Friday, Oct. 20, according to a statement from the European Council.
Raw Steel Down in First Week of October: AISI
US raw steel production dropped for the week ending Oct. 7, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 9.
Leibowitz: The 2023 Supreme Court Term and International Trade Law
The 2023 term continues a series of very eventful Supreme Court sessions, similarly to 2021 and 2022 terms.
September Import Licenses Steady, Flat Rolled Permits Rise
A slowdown in US steel imports has yet to be seen, as total import licenses in September were about even with August’s import levels.
Domestic Steel Shipments Rise in August: AISI
Shipments from US steel mills ticked up in August vs. July and stayed level year over year, according to the latest monthly data from the American Iron and Steel Institute (AISI).
Final Thoughts
The US steel market appears to have gone from despairing over the possibility of spot HRC prices slipping into the $500s per ton to worrying about spot availability – and in just a matter of 2-3 weeks.
US HRC Prices Move Nearly Even With Imports Again
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.
SDI Columbus Takes Unplanned Hot Mill Outage, Pulls Forward Planned One
Steel Dynamics Inc. (SDI) has lost some production this month at its sheet mill in Columbus, Miss., on a combination of planned and unplanned outages, according to sources familiar with the matter.
Final Thoughts
Did the price increase announced by Cleveland-Cliffs last week stick? Yes, at least partially.
SMU Price Ranges: Sheet Rebounds – Sustainable Rally or Dead-Cat Bounce?
Sheet prices rose this week on the heels of a price increase announced by Cleveland-Cliffs last week that was quietly followed by other mills.
Construction Spending Up in August: AGC
Construction spending in the US increased in August, according to the Associated General Contractors of America (AGC).
SMU's September at a Glance
Steel prices continued to decline last month – a trend we’ve seen repeated since mid-April.
SMU Spotlight: NexGen Award Winner Daniel Doderer
The 2023 NexGen Award winner Daniel Doderer may not consider himself a veteran of the steel industry yet, but he's eager to make his mark.