By CRU Principal Analyst Josh Spoores and CRU North America Analyst Ryan McKinley North America, primarily the U.S., was an outlier to global price trends for scrap and sheet products this month. Multiple mill price increases for sheet have been primarily successful, although current prices remain well below the most recent mill targets of $630 […]
Premium subscribers to Steel Market Update have reports available on our website that break out the import tonnage into district of entry and source nation for six sheet and plate product categories. This report takes the total national tonnage of hot rolled and breaks it down into product detail. Using U.S. International Trade Commission (USITC) […]
Using U.S. International Trade Commission (USITC) data, SMU has taken the import tonnage of cold rolled sheet and broken it down into coil and leveled, then into four thickness ranges, and then identifies how much was full hard, annealed and high strength. Through June 2019, of the total cold rolled sheet and strip imports into […]
ArcelorMittal Burns Harbor has the honor of providing the steel for the first U.S.-flagged Great Lakes bulk carrier to be built in more than 35 years. Fincantieri Bay Shipbuilding held a ceremony at its shipyard to celebrate cutting the first sheet of steel to be used in the construction of the vessel for Interlake Steamship […]
Electric arc furnace minimills may have a cost advantage in steel production today, but there are still 19 traditional blast furnaces going strong in the United States. Blast furnaces dominate about three-fourths of global steelmaking, but only three steel producers in the U.S. currently are using BF or basic oxygen furnace technology: U.S. Steel, ArcelorMittal […]
Nearly 1,000 executives are registered with just two weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our 9th […]
Steel Market Update offers a comprehensive series of import reports ranging from the first look at licensed data to a detailed look at volume by district of entry and source nation. This report, on hot-dipped galvanized sheet, is designed to plug the gap between the two. We will report data for regional imports for each […]
Steel Market Update offers a comprehensive series of import reports ranging from the first look at licensed data to a detailed look at volume by district of entry and source nation. This report, on other metallic coated sheet, is designed to plug the gap between the two. We will report data for regional imports for […]
Declining steel prices and inventory destocking contributed to a guidance miss for Ryerson Holding Corp. Although shipments increased 0.6 percent to 623,000 tons quarter-to-quarter, net sales fell 2.1 percent to $2.1 billion. Net income was $16.4 million, down from $30 million in the previous quarter and $18 million a year ago. Earnings per diluted share dropped […]
Distributors of galvanized steel to the HVAC sector are paying higher prices to their suppliers, but having difficulty collecting the increase from their contractor customers, reported members of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call earlier today. Since HARDI’s last call, domestic flat rolled mills have announced three price […]
Distributors of galvanized steel to the HVAC sector are paying higher prices to their suppliers, but having difficulty collecting the increase from their contractor customers, reported members of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call earlier today. Since HARDI’s last call, domestic flat rolled mills have announced three price […]
Demand for HVAC products remains relatively strong in an otherwise lukewarm steel market, but members of the Heating, Air Conditioning & Refrigeration Distributors International (HARDI) say they are challenged by declining galvanized steel prices and rising intensity from the competition. Polled six weeks ago, nearly all the HARDI members expected galvanized steel prices to stay […]
Distributors of galvanized steel to the HVAC industry remain surprisingly positive despite steel prices that have been on the decline for more than six months. While there is some variance by region and market segment, members of the Heating, Air Conditioning & Refrigeration Distributors International generally expect solid demand for their products at least through […]
By Josh Spoores, CRU Principal Analyst Sheet prices have continued to rise, but the bullish trend is clearly fading. Overall volume of spot transactions last week was the lowest recorded all year. Furthermore, manufacturing is now in recession based on the last two quarters of IP activity, while recent PMI data shows weakness in new […]
Steel Market Update’s analysis of Key Market Indicators shows the present market situation was basically unchanged in the last month, based on data released in July, but half the 36 indicators trended positive and half negative. This report is designed to be a big picture summary of data on which we have reported in detail […]
By CRU Principal Analyst Josh Spoores Sheet prices in the U.S. have continued to rise as both buyers and sellers have reported higher transactions. Overall volume reported has been steady over the past few weeks and near 2019 average levels. The overall price range remains wide, around $50 /s.ton. We anticipate that prices will continue […]
Prices continued to move higher this week and the mills seem to have gotten a handle on price momentum both on flat rolled and plate. Whether this is temporary or not will depend on lead times and the ability of the steel mills to fill their order books. As one buyer told me this morning: […]
By CRU Analyst Chris Bandmann CRU is launching weekly Turkish HR coil export prices, enhancing the existing suite of weekly Turkish long product and scrap prices. This Insight being offered for these other markets has now been brought to flats – and offers a window into the world of Turkish hot rolled coil exports. Turkey […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
The price of West Texas Intermediate crude oil briefly exceeded $60 per barrel for one week in July, but the rig count continues to decline, according to Steel Market Update’s analysis of data from the Energy Information Administration (EIA). The spot price of West Texas Intermediate (WTI) FOB Cushing, Okla., exceeded $60 per barrel for […]
By CRU Principal Analyst Josh Spoores U.S. sheet prices continue to be supported by new mill price announcements as HR coil gained $5 /s.ton, rising to $553 /s.ton. This price assessment reflects transactions taking place last week. On Monday of this week, ArcelorMittal led the third round of increases since late June, signaling $630 /s.ton […]
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday. On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold […]
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday. On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold […]
Nucor’s Sheet Mill Group informed customers today that it is increasing base prices on new orders of flat rolled steel by an additional $40 per ton ($2/cwt), effective immediately. The announcement marks the third $40 increase by the market-leading steelmaker in the past month. The $40 price hike applies to all unconfirmed orders of hot […]
ArcelorMittal USA is the latest mill to increase flat rolled steel prices, announcing new minimum base prices in a letter to customers on Monday. Effective immediately, the company set its minimum price for hot rolled sheet at $630 per short ton, and cold rolled and coated products at $800 per short ton. If the mill […]
Steel Market Update has been analyzing service center inventories for two years now. With our acquisition by the CRU Group, we expanded the breadth and depth of our coverage. Our new Service Center Inventories Index will be rolled out to the public at the 2019 SMU Steel Summit Conference in Atlanta at the end of […]
Steel Market Update has been analyzing service center inventories for two years now. With our acquisition by the CRU Group, we expanded the breadth and depth of our coverage. Our new Service Center Inventories Index will be rolled out to the public at the 2019 SMU Steel Summit Conference in Atlanta at the end of […]
By CRU Principal Analyst Josh Spoores and CRU North America Analyst Ryan McKinley U.S. domestic scrap prices fell by $10 /l.ton m/m in the Great Lakes and Ohio Valley for most grades prior to the Independence Day holiday, but dealers the following week pushed back on the price decline, with some successfully securing little to […]
In this report, we examine the change in currency values of the 16 preeminent global steel and iron ore trading nations. The currencies of these 16 don’t necessarily follow the Broad Index value of the U.S. dollar. In fact, at any given time, some are always moving in the opposite direction. The latest value of […]