Most new U.S. flat-rolled electric-arc furnace steelmaking capacity won’t start up until the second half of this year, which could have big implications for spot hot-rolled coil prices. The back-ended nature of the capacity add means the market might sustain hot-rolled coil prices of $1,000 per ton or more longer than many buyers believe, industry sources […]
This report examines the import share of sheet, plate, long and tubular products. As of October 2020, imports’ share of total sheet products was 11.8 percent, down from 16.6 percent in May and from a recent high of 22.9 percent in 2015. The import share of HRC has been below 10 percent since January 2019, […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor Sheet prices in the U.S. Midwest market have not only continued to rise, but the m/m gains have come so fast that our second Wednesday price assessment completely skipped the $900 /s.ton level. Our Jan. 12 price assessment for HR coil is $1,044 […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service U.S. steel service center inventories continue to remain low in terms of material in stock, as many buyers reported that they cannot secure all the sheet steel they require. Steel Market Update, which is owned by CRU, reported service centers carried 51.3 shipping […]
By CRU Analyst Helen O’Cleary, from CRU’s Zinc Monitor January 2021 After a turbulent start to 2021 for U.S. politics, President Biden begins his term with the unenviable task of bringing the Covid-19 outbreak under control and supporting the nascent U.S. economic recovery. He plans to start with a $1.9 trillion Covid relief plan and […]
NLMK USA and striking workers at its operations in western Pennsylvania appear no closer to a labor accord than they were more than four months ago. And the two sides remain at loggerheads despite near-record hot-rolled coil prices and despite slab being available following the reset of the Section 232 quota on Brazilian semi-finished goods. […]
Metal coater AZZ Inc. has acquired privately held hot-dip galvanizing and zinc electroplating company Acme Galvanizing Inc. The deal, terms of which were not disclosed, includes all of Milwaukee-based Acme’s assets. The deal will extend the reach of Fort Worth, Texas-based AZZ into the Midwest, the company said. “With the acquisition of Acme, AZZ enhances […]
U.S. steel producers are worried that a change to the Section 232 exclusion process could gut the Trump administration’s signature trade act. The focus of concern: The Commerce Department’s potential adoption of “General Approved Exclusions” (GAEs) into the Section 232 exemption process. “If permitted to stand, the GAEs will effectively eliminate Section 232 tariffs on […]
Brazil’s annual Section 232 slab quota has reset, a move that is likely to at least partially relieve a supply squeeze that has sent U.S. sheet prices to their highest point in more than 12 years. Brazil’s Section 232 slab quota for 2021 is approximately 3.86 million tons, according to information from U.S. Customs and […]
Brazil’s annual Section 232 slab quota has reset, a move that is likely to at least partially relieve a supply squeeze that has sent U.S. sheet prices to their highest point in more than 12 years. Brazil’s Section 232 slab quota for 2021 is approximately 3.86 million tons, according to information from U.S. Customs and […]
JSW Steel USA has begun to recall workers at its idled sheet mill in Mingo Junction, Ohio, as well as at its idled plate and pipe mills in Baytown, Texas, the company’s top executive said. “We still intend to start up both facilities in March,” JSW Steel USA CEO Mark Bush told Steel Market Update […]
An interesting feature of trade remedy law, by which I refer to as antidumping, countervailing duty, safeguards and Section 232 import “adjustments,” is alleged circumvention of these orders. Readers have asked questions about this subject, which can catch downstream users and importers unawares. Circumvention refers to processing goods that are subject to trade restrictions (duties […]
An interesting feature of trade remedy law, by which I refer to as antidumping, countervailing duty, safeguards and Section 232 import “adjustments,” is alleged circumvention of these orders. Readers have asked questions about this subject, which can catch downstream users and importers unawares. Circumvention refers to processing goods that are subject to trade restrictions (duties […]
This report is an analysis of Bureau of Labor Statistics data and is intended to provide subscribers with a view of the competitive position of sheet steel, aluminum, plastic and wood. The analysis includes some downstream products and a comparison of truck and rail transportation. On Dec. 10, the BLS released its series of Producer […]
ArcelorMittal and Nippon Steel Corp. have committed to building an electric arc furnace at AM/NS Calvert, reducing the mill’s reliance on imported slabs. The companies signed a definitive agreement on Monday to construct the 1.5 million MT (1.65 million ton) EAF at a cost of $775 million. Construction will begin in 2021 with initial production […]
Nucor will have a new Chief Operating Officer, David A. Sumoski, effective Jan. 1, 2021. Sumoski, currently Executive Vice President of Bar, Rebar Fabrication and Construction Services, joined Nucor in 1995 as an electrical supervisor at the Berkley facility and later as Maintenance Manager. He served as Vice President and General Manager of Nucor Steel […]
By CRU Analyst Estelle Trans, from CRU’s Global Steel Trade Service U.S. buyers have been watching sheet steel prices skyrocket and found themselves weighing high-priced imports out of necessity. The steel market remains supply short, even with the restart of U.S. Steel Gary No. 4 this month, and market contacts expect that the market will […]
By CRU Analyst Sam Grant It is now clear that Joe Biden will become the new president of the United States in January 2021, yet he will need control of the Senate to implement his economic policy agenda. As a result, the contest for two Senate seats in Georgia on Jan. 5 will be crucial. […]
Nucor expects improved fourth-quarter earnings due to higher pricing of sheet and plate as well as strong results at its bar and structural mills. Profitability for the steel products segment is expected to decrease modestly, consistent with typical seasonality. The raw materials segment will benefit from higher prices for raw materials and improved financial performance […]
Flat Rolled = 40.0 Shipping Days of Supply Plate = 45.7 Shipping Days of Supply Flat Rolled Service center flat rolled steel inventories continue to reach new lows. At the end of November, service centers carried 40 shipping days of supply, down from 43.1 days in October. November had 19 shipping days, compared to October’s […]
After reaching bottom in June, due largely to the global pandemic, mill shipments and supply of sheet products have since maintained a slow but steady upward trajectory. This analysis is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce. The analysis […]
Not only are wholesalers who service the HVAC and construction industries wondering how high galvanized steel prices can possibly go, they’re even more worried about how low prices could go once the market normalizes next year. In a conference call this morning, members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) reported firm […]
Majestic Steel has completed the acquisition of P&S Metals and Supply, a Las Vegas-based steel service center and processor. The addition of P&S will extend Majestic’s footprint in Nevada and the western United States. “We are happy to welcome P&S Metals and Supply to the Majestic family,” said Todd Leebow, Majestic President and CEO. “P&S […]
Olympic Steel has acquired the assets of Action Stainless & Alloys, Inc., adding the Dallas, Texas-based distributor to its Specialty Metals business segment. Action Stainless & Alloys is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing and pipe and offers a range of processing, including plasma, laser and […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor U.S. Steel announced the full buyout of Big River Steel this week, while Cleveland-Cliffs closed on its acquisition of ArcelorMittal’s U.S. assets. In any other week, these headlines would drive the news flow for steel buyers and sellers. However, news this week remains […]
Canada’s Algoma Steel notified customers on Monday, Dec. 7, that, effective immediately, prices on spot orders for hot rolled and cold rolled sheet products will be increased by U.S. $60 per ton. Algoma reserves the right to review and requote any unconfirmed orders. Published extras will also be applicable with new orders. Algoma’s last price […]
No one anticipated in August how quickly prices would go up, said CRU Principal Analyst Josh Spoores during this week’s SMU Community Chat Webinar. As four criteria lined up—steel-intensive industrial demand, low supply chain inventories, low imports, and domestic prices below global levels—steel prices in the U.S. surged at the fastest rate in 41 years, […]
Yesterday (Wednesday, Dec. 2) we hosted one of our SMU Community Chat Webinars. The guest speaker was Josh Spoores, Principal Analyst and editor of the Sheet Monitor for CRU. I thought it was one of the best presentations and discussions we have ever had at one of our webinars. You can see a recording and […]
On Wednesday, December 2nd Steel Market Update will host another in our series of free webinars with CRU Principal Analyst and editor of the CRU Sheet Monitor – Josh Spoores. Packard and Spoores will chat for about 30 minutes on CRU’s steel sheet forecast for 2020-2021. We will discuss demand, production, and steel prices with […]
On Wednesday, Dec. 2, Steel Market Update will host another in our series of free webinars featuring CRU Principal Analyst and Editor of the CRU Sheet Monitor – Josh Spoores. Spoores and SMU President and Publisher John Packard will chat for about 30 minutes on CRU’s steel sheet forecast for 2020-2021. We will discuss demand, […]