Nucor anticipates earnings will decrease in the first quarter of 2019. In guidance remarks, the company cited lower average selling prices and margins in its sheet mill group for the decline. Said Nucor, “We believe that sheet pricing reached the low point during the first quarter and are encouraged by the impact of recent price […]
Steel Market Update is sharing the following Premium-level content on flat rolled imports with Executive-level members. For more information about upgrading to a Premium-level subscription, contact info@steelmarketupdate.com. Finally, the detailed steel trade data has been released for December. Again, we apologize for our lack of trade reports in the last few months. August was the […]
This is a report that we provided monthly through August 2018 data. The USITC then revamped their DataWeb and the new version didn’t work. Our SMU staff worked with the USITC to fix the problem, then the government shut down. The March 2019 data is the first available that has been released on time since […]
By CRU Principal Analyst Josh Spoores As forecast, HR coil prices in the U.S. are rising – but when might they peak? Steelmakers in the U.S. have now announced their second $40 /s.ton price increase for sheet products. At CRU, we have been expecting the recent downward price cycle to turn and have been advising […]
There are reports about a myriad of meetings between the USTR, Mexico and Canada as the sides try to come to some form of resolution regarding the Section 232 tariffs on steel and aluminum. I continue to hear that the move is to not reduce the traditional level of imports from these two countries. In […]
Members of the Heating, Air-conditioning and Refrigeration Distributors International, wholesalers of galvanized sheet and coil products, reported steady and strong demand in the HVAC market so far in 2019, but also growing concern about the direction of steel prices. One HARDI member on the trade group’s monthly conference call today described conditions as “somewhat fragile.” The […]
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 categories. SMU has now developed reports that drill down the HRC and CRC into product detail both nationally and for each district. Using U.S. International […]
Premium subscribers to Steel Market Update receive reports on imports broken down into district of entry and source nation. This drill down report takes the regional analysis to the level of product detail. Our intent is to report this drill down for CR sheet in the rationale that the finer the detail steel buyers have […]
Flat rolled steel service centers are beginning to support the concept of higher steel prices. Distributors are raising spot pricing to their end-user customers, and in the process, they are supporting the domestic steel mill flat rolled price increase announcements. Steel Market Update canvasses the flat rolled and plate steel markets twice a month through […]
We live in a time when nothing is as it seems and uncertainty rules the roost. This can make for a daunting task when considering when, what and how much steel you need to purchase at any point in time. It appears the second price increase announcement out of Nucor moved some of the end […]
We live in a time when nothing is as it seems and uncertainty rules the roost. This can make for a daunting task when considering when, what and how much steel you need to purchase at any point in time. It appears the second price increase announcement out of Nucor moved some of the end […]
Key market indicators were strong in February, but trends have been deteriorating for a year. This report summarizes 36 data streams that we believe critically describe the state of and provide forward guidance for the steel market. The government statistics departments are gradually catching up after the shutdown, but their revised schedules indicate that it […]
Steel Market Update is sharing this Premium content with Executive-level subscribers in this issue. For more information on upgrading to a Premium-level membership, email info@SteelMarketUpdate.com Key market indicators were strong in March and the trends have improved since January. This report is designed to provide a big picture summary of data we have covered in […]
Steel Market Update is sharing this Premium content with Executive-level subscribers in this issue. For more information on upgrading to a Premium-level membership, email info@SteelMarketUpdate.com Steel Market Update’s analysis of Key Market Indicators shows that U.S. economic trends deteriorated in April to the worst level in 27 months. This report is designed to be a […]
Service center executives polled by Steel Market Update on Monday and Tuesday reported spot prices firming up, though perhaps not enough for the mills to collect both $40 increases they have announced in the past month. Below are some of their comments on the current price momentum for flat rolled and plate steel, as well […]
As of Feb. 26, with the month nearly complete, U.S. steel imports were trending at less than 2.5 million tons, based on license data from the U.S. Department of Commerce. February imports are likely to finish the month well below January and below the 3- and 12-month moving averages as well. Semi-finished steels continue to […]
Oil production in the U.S. was at an all-time high in October last year and declined only slightly in the latest data for November. The price of West Texas Intermediate crude oil has recovered somewhat from its recent low of $44.48 on Dec. 27. The spot price of West Texas Intermediate (WTI) FOB Cushing, Okla., […]
On Wednesday morning, Nucor announced a $40 per ton ($2.00/cwt) “minimum” price increase on flat rolled steel products. The mill advised their customers the increase was to be “effective immediately.” This is the second price increase announcement out of Nucor in less than 30 days. On Jan. 28, 2019, Nucor announced a $40 per ton […]
California Steel Industries (CSI) raised the price of its hot rolled, P&O, cold rolled and galvanized sheet products by $40 per ton ($2/cwt) today. CSI has opened its flat rolled order book for April shipments. CSI’s change follows on a similar $40 increase it announced on Jan. 21, just one month ago. All pricing is […]
ArcelorMittal announced minimum prices for its flat rolled products today in response to improved demand. “Over the past couple of weeks, we have experienced a significant increase in order entry for sheet products,” the mill said in a letter to customers. Effective immediately, the minimum price for new orders of hot rolled sheet from ArcelorMittal […]
This morning Nucor announced another $40 per ton ($2.00/cwt) “minimum” price increase on flat rolled steel products. The mill advised their customers the increase was to be “effective immediately.” This is the second price increase announcement out of Nucor in less than 30 days. On Jan. 28, 2019, Nucor announced a $40 per ton ($2.00/cwt) […]
A strong economy and record profits are stimulating expansion in the U.S. steel industry. Often crediting President Trump for “leveling the playing field” with steel imports, companies like U.S. Steel and Nucor are taking the opportunity to reinvest their windfall in new and upgraded facilities. Adding capacity in a world that is struggling with steel […]
Editor’s note: The following is excerpted from the Feb. 13 CRU Steel Sheet Monitor; editing by CRU Principal Analyst Josh Spoores. In our Steel Sheet Products Monitor last month, we asked if the market was near an inflection point. That report was published on the sixth working day of the year and, at that point, global sheet […]
Rolled product imports increased by 4.5 percent in January, calculated as a three-month moving average (3MMA) year over year. This early look at January’s import volume is based on Department of Commerce license data (see explanation below). Beginning in January 2018, we expanded this import analysis to include all major steel sectors: sheet, plate, longs […]
The new year has gotten off to a positive start for members of the Heating, Air-conditioning and Refrigeration Distributors International (HARDI), who supply steel products to the HVAC market. Most are optimistic about business, at least in the coming quarter, but comments during their monthly conference call today reflected some disagreement over steel prices. “We […]
Key Market Indicators in January, indicators of the present situation, remained strong, but trends deteriorated to the weakest level in two years. This report summarizes 36 data streams that we believe critically describe the state of and provide forward guidance for the steel market. Due to the government shutdown, 13 of the 36 indicators were […]
Steel Market Update has confirmed that ArcelorMittal joined the other major mills in raising flat rolled steel prices this week. ArcelorMittal notified its commercial team that it is raising base prices a minimum of $40 per ton on all light flat rolled sheet products, effective immediately. The increase applies to all new and unacknowledged orders […]
Steel Market Update has confirmed that ArcelorMittal joined the other major mills in raising flat rolled steel prices this week. ArcelorMittal notified its commercial team that it is raising base prices a minimum of $40 per ton on all light flat rolled sheet products, effective immediately. The increase applies to all new and unacknowledged orders […]
Major domestic steelmakers have announced a $40 per ton ($2/cwt) hike in the price of hot rolled, cold rolled and galvanized steel products, fueling the debate over whether current market conditions can support an increase or if the latest announcement is bound to flop like the last one in October. West Coast mills California Steel […]
Nucor Corp. surpassed expectations for 2018, reporting net earnings of $2.36 billion for the full year compared to $1.32 billion in 2017. Net sales jumped 24 percent to $25.07 billion due to a 5 percent increase in tons shipped and an 18 percent jump in the average sales price per ton. Nucor shipped 27.9 million […]