A preliminary count of imports during the month of June shows little changes from SMU’s previously reported import license analysis, so here we take a look at where all that steel is coming from
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, import offers, and inventory. 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 in […]
The US Department of Commerce this week ruled that critical circumstances exist in part in the trade case investigating illegal subsidies on tin mill products from China, meaning duties may be applied retroactively.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, import offers, and inventory. 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 in […]
The US Department of Commerce this week ruled that critical circumstances exist in part in the trade case investigating illegal subsidies on tin mill products from China, meaning duties may be applied retroactively. Recall that Cleveland-Cliffs and the United Steelworkers (USW) union in January filed a trade case seeking countervailing duties for tin- and chromium-coated […]
A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according HARDI members.
Hot-rolled coil (HRC) prices fell for a second consecutive week as mills appear to have given up holding the line on $900 per ton ($45 per cwt) and amid discounting into the high $700s per ton.
Nucor has completed slightly more than 50% of a $10-billion capital expenditures plan to grow its core steelmaking operations, Leon Topalian, company chair, president, and CEO, said in a second-quarter earnings conference call with investors.
Hot-rolled coil (HRC) prices fell for a second consecutive week as mills appear to have given up holding the line on $900 per ton ($45 per cwt) and amid discounting into the high $700s per ton. SMU’s average HRC price now stands at $830 per ton, down $40 per ton from a week ago and marking […]
Nucor has completed slightly more than 50% of a $10-billion capital expenditures plan to grow its core steelmaking operations, Leon Topalian, company chair, president, and CEO, said in a second-quarter earnings conference call with investors. Here is an update regarding several of the Charlotte, N.C.-based steelmaker’s projects. Nucor Steel Gallatin (Sheet and Tube) Topalian said the […]
A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the July 25 meeting of its Sheet Metal/Air Handling Council. During June’s meeting, 36% of […]
Nucor reported sequentially higher second quarter earnings but warned that results would be worse in the third quarter. "We expect earnings in the third quarter of 2023 to decrease compared to the second quarter of 2023," the company said in comments released with Q2 earnings results on Monday, July 24.
Nucor reported sequentially higher second quarter earnings but warned that results would be worse in the third quarter. “We expect earnings in the third quarter of 2023 to decrease compared to the second quarter of 2023,” the company said in comments released with Q2 earnings results on Monday, July 24. The Charlotte, N.C.-based steelmaker posted […]
I’ll dive into the latest sheet market trends in a moment. But first some big news: We’re less than a month away from the start of SMU’s Steel Summit in Atlanta! Nearly 1,100 people were registered to attend when I last checked on Friday. The pace of registrations has picked up, so we’ll probably be […]
I’ll dive into the latest sheet market trends in a moment. But first some big news: We’re less than a month away from the start of SMU’s Steel Summit in Atlanta! Nearly 1,100 people were registered to attend when I last checked on Friday. The pace of registrations has picked up, so we’ll probably be […]
The active rig count in the US and Canada dropped in both countries, according to the latest data from oilfield services company Baker Hughes. The total US rig count stood at 669 active rigs as of July 21, down six from the week prior. Active oil rigs in the US decreased by seven to 530, while […]
We’re just a month out from Steel Summit, so I decided to go back and check on how things look now compared to ~30 days ahead of the event last year. For starters, approximately ~1,100 people are registered to attend the event on Aug. 21-23 in Atlanta. That puts us on track to meet or […]
Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly. We’re still waiting for a clear pattern to emerge with lead times, as they seem to have been bouncing around since June and generally trending down since […]
Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys.
Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly.
We’re just a month out from Steel Summit, so I decided to go back and check on how things look now compared to ~30 days ahead of the event last year. For starters, approximately ~1,100 people are registered to attend the event on Aug. 21-23 in Atlanta. That puts us on track to meet or […]
The hot end of Steel Dynamics Inc.’s (SDI) Sinton, Texas, sheet mill is expected to be back up and running in the next few days.
The hot end of Steel Dynamics Inc.’s (SDI) Sinton, Texas, sheet mill is expected to be back up and running in the next few days. Executives made the announcement on the company’s second quarter earnings conference call with analysts on Thursday, July 20. On July 7, SDI announced an unplanned outage at the hot mill, […]
Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys. It’s a different story in plate, where buyers find mills less willing to negotiate lower, according to SMU’s most recent survey data. The percentage of respondents saying steel mills were willing to talk price on plate stood at 29% this […]
Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]
Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]
Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […]
Sheet prices slipped by $20-25 per ton as hot-rolled coil (HRC) failed to break through the $900 per ton threshold some market participants had predicted it would. SMU’s average hot-rolled coil (HRC) price stands at $870 per ton ($43.50 per cwt), down $20 per ton from a week ago. Numbers at or around that figure […]
Editor’s note: Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact Lindsey Fox at lindsey@steelmarketupdate.com. Flat Rolled = 52.3 Shipping Days of Supply Plate = 58.1 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply edged up slightly in […]
Hot-rolled coil prices remain rangebound between roughly $850-900 per ton ($42.50-45 per cwt), according to our latest market check. You could say that’s not news. Our HRC index settled at $870 per ton on Tuesday afternoon. A week-over-week decline of $20 per ton from $890 last week might be little more than noise. You’d want to […]