SMU is pleased to announce that Wolfe Research Managing Director Timna Tanners will be the featured speaker on our first Community Chat webinar of 2022. We’ll discuss the big issues – the great debates – that will drive steel markets next year: • Will we see continued solid demand in 2022 or a “great unwind”? […]
California Steel Industries (CSI) has opened its February order book for flat-rolled steel and decreased prices significantly, according to market participants. That’s a big change from 2021, when the Fontana, Calif.-based slab converter often increased prices substantially from one month to the next. “Customers are reminded that prices are subject to change at any time […]
Monthly Key Market Indicators, as analyzed by Steel Market Update, continued their shift to a neutral position over the past month with positive indicators eroding further, slipping for the sixth successive month. What began as a typical summer slowdown, worsened by a surge in Delta cases and a less-than-ideal job market, has been compounded by […]
ArcelorMittal Mexico has made the first coil from the new hot strip at its steelmaking complex in Lazaro Cardenas, a port city in Mexico’s Michoacan province. Company spokespeople did not respond to requests for confirmation from Steel Market Update. But the moment was celebrated on social media by ArcelorMittal employees and executives. One example: “Congratulations […]
ArcelorMittal Mexico anticipates a run rate of roughly 70% by year’s end at its new hot strip mill in the Michoacan province. Executives lauded the production ramp-up of the new 2.75-million-ton hot strip mill during the company’s earnings call late last week, noting the facility’s output could be around 1.50 to 1.75 million tons in […]
Flat Rolled = 57.1 Shipping Days of Supply Plate = 60.2 Shipping Days of Supply Flat Rolled U.S. service center flat rolled inventories rose again in November, according to Steel Market Update data. At the end of November, service centers carried 57.1 shipping days of supply on an adjusted basis, compared to 56.7 shipping days […]
Producer prices expanded 1.4% in November, seasonally unadjusted, climbing consecutively since reaching the most recent bottom 20 months ago, reports the U.S. Labor Department. Persistently high prices in large part continue to reflect clogged supply chains, as manufacturers scramble to keep up with unusually strong consumer demand. The Labor Department said that its Producer Price Index […]
Steel sheet prices fell again this week as mills continued reducing prices on shorter lead times and increased competition from both imports and other domestic producers. Published lead times are as low as 3-4 weeks for hot-rolled coil, for example, and sources reported orders being processed early. Some said mill offers declined substantially over the […]
Nucor has acquired a majority stake in California Steel Industries (CSI) for approximately $400 million in a deal that will significantly expand its presence on the West Coast. The Charlotte, N.C.-based steelmaker paid that amount for Brazilian iron ore miner Vale’s 50% stake in Fontana, Calif.-based CSI. It also acquired 1% of Japanese steelmaker’s JFE […]
By Greg Wittbecker, Advisor, CRU Group The massing of Russian troops on the border with Ukraine has raised tensions to a high level on the political scene. It forces us to take another look at the repercussions of new sanctions on the Russian state should Putin decide to invade. 2018 Repeated? In March 2018, sanctions […]
Arkansas lawmakers have introduced a bill that would expand tax credits in a bid to attract U.S. Steel’s planned $3 billion electric arc furnace (EAF) sheet steel mill to the state. And the bill’s lead sponsor, state Sen. Dave Wallace (R), narrowed down potential locations even further. He said tax credits were aimed at convincing the Pittsburgh-based steelmaker to invest its […]
Imports of less-expensive sheet and plate products continue to make their way into the U.S. market, a steady increase over the past six months as buyers continue to seek relief from record-high steel prices in the U.S. October Commerce Department data show imports’ shares of the U.S. flat products markets at their highest levels in the past […]
Total mill shipments of steel products edged up 1.4% in October to 8.619 million tons, following a 12.2% fall the month prior. Apparent supply slipped for the second straight month in October, down 2.2% on top of a 6.9% decline in September. October’s contraction marks the first month-on-month decrease in steel supply since apparent supply fell […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active […]
Lead times for steel sheet and plate continued to decline over the past two weeks, shortening by an average of more than a week. The move correlates with a sharp downtrend in steel prices. Steel Market Update’s latest check of the market shows the average lead time for hot rolled orders nearing five weeks. Cold rolled […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor, Jan. 5 Sheet prices fell in most markets around the world as supply availability grew. In the USA, market participants report that end users are cancelling or postponing orders, which has led to an even greater build up in inventory levels and caused […]
Top U.S. and British trade negotiators appear to be nearing a deal to ease Section 232 tariffs on steel and aluminum from the United Kingdom. That’s according to recent statements from the Office of the U.S. Trade Representative (USTR) and the Commerce Department. Case in point: Commerce Secretary Gina Raimondo and UK Secretary of State […]
Companhia Siderúrgica Nacional (CSN) is considering plans to build an electric arc furnace (EAF) long products mill and a galvanizing facility for steel sheet in the United States. That’s according to an investor presentation in which the Brazilian steelmaker said new plants in the U.S. as well as expansions in Europe and in Brazil were […]
Brazilian iron ore miner Vale is in an “advanced stage of negotiations” to sell its stake in California Steel Industries (CSI), according to an investor day presentation. The presentation did not say which company Vale was in talks with. CSI is a Fontana, Calif.-based slab converter. It is also a 50-50 joint venture between Vale […]
Sheet and plate prices fell across the board this week on shorter lead times, import competition and increased spot availability from domestic mills. Declines for hot-rolled coil were generally steeper than those for value-added products. And while certain mills are trying to hold the line around $1,800 per ton, EAF producers were reported to be […]
Looking for floor plate for Christmas? What about hot-rolled coil for the New Year? You’re in luck. Cleveland-Cliffs Inc.’s steel mill in Riverdale, Ill., can get floor plate to you by Dec. 25, or just 18 days from now. And most of its sheet mills can get you hot-rolled coil by Jan. 1, or 25 days […]
Algoma Steel Group Inc. has picked Danieli & C. Officine Meccaniche S.p.A (Danieli) as the technology provider for their new electric arc (EAF) steelmaking facility set for operation in early 2024. The Sault Ste. Marie, Ontario-based steelmaker said that Danieli’s systems were the best choice for their new mill as they transition away from basic […]
Late last week both Nucor and Big River Steel notified customers of an upward revision to their galvanized steel coating extras. A letter from Nucor stated, “Consistent with our practice to monitor the cost of zinc, we have revised our galvanized coating weight extras effective with orders acknowledged for the week ending Jan. 8, 2022.” […]
Nucor and Big River Steel have joined the ranks of sheet mills announcing new coating extras for 2022. “Consistent with our practice to monitor the cost of zinc, we have revised our galvanized coating weight extras,” Charlotte, N.C.-based Nucor said in a letter to customers on Wednesday, Dec. 1. The new coating extras will be […]
By CRU Analyst Tanya Bhaiji, from CRU’s Steel Sheet Products Monitor, Nov. 29 Galvanized sheet is the biggest first use for refined zinc, constituting around 30% of total refined zinc demand in 2020. The majority of galvanized sheet is consumed in end-use sectors such as construction and automotive while a smaller percentage is also consumed in […]
Steel prices declined for the third consecutive month in November, following a 12-month streak of continuous price increases. Hot-rolled coil prices declined $105 per ton throughout the month, with the SMU index averaging $1,770 per ton ($88.50 per cwt) as of Tuesday, Nov. 30. The SMU Price Momentum Indicator for hot-rolled coil was adjusted from Neutral […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
Sometimes it is the little things that provide hints as to the direction steel prices will take. During our Steel 101 workshops, I use the example of when you hear from that steel salesman on what seems like a daily basis – that’s when you know a market is about to turn (or has turned). […]
Plate prices moved up this week as recent mill price increases gained some traction, but prices for sheet products were flat to down, based on Steel Market Update’s check of the market on Monday and Tuesday. The plate price was up $60 to an average of $1,835 per ton, while hot rolled coil was down […]