On Friday morning, SSAB announced another steel plate price increase. In a letter emailed to customers, SSAB advised their intention to raise “transaction prices by a minimum of $40 per ton effective immediately for all new non-contract orders.” The increase, which is the second $40 increase announced by SSAB so far this month, applies to […]
On Friday morning, SSAB announced another steel plate price increase. In a letter emailed to customers, SSAB advised their intention to raise “transaction prices by a minimum of $40 per ton effective immediately for all new non-contract orders.” The increase, which is the second $40 increase announced by SSAB so far this month, applies to […]
The domestic steel mills were busy on Friday with SSAB USA announcing a $40 per ton price increase on steel plate, and then U.S. Steel coming out with a $30 per ton price increase on flat rolled. The SSAB increase was the second on plate this month. Flat rolled has seen three price increase announcements […]
The domestic steel mills were busy on Friday with SSAB USA announcing a $40 per ton price increase on steel plate, and then U.S. Steel coming out with a $30 per ton price increase on flat rolled. The SSAB increase was the second on plate this month. Flat rolled has seen three price increase announcements […]
There is one constant to our SMU Steel 101: Introduction to Steel Making & Market Fundamentals Workshop – just about everyone who takes the workshop enjoys it and sees the value in the subject matter being taught. This has resulted in many of our past attendees working their way up within their company’s management structure. […]
There is one constant to our SMU Steel 101: Introduction to Steel Making & Market Fundamentals Workshop – just about everyone who takes the workshop enjoys it and sees the value in the subject matter being taught. This has resulted in many of our past attendees working their way up within their company’s management structure. […]
Despite the Oct. 28 plate price increase announcement out of Evraz ($40/ton), plate prices continue to be under pressure. [Please note: This article was completed just prior to the Nucor $40 price increase announcement, which was made on plate products at 4 p.m. this afternoon.] A large plate buyer told SMU they had just received […]
SSAB Americas saw its third-quarter profits decrease to $54.5 million from $82.2 million in Q3 2018 due to lower plate steel prices. Sales were down 2 percent from the second quarter to $490 million and 6 percent from a year ago. Demand during the quarter was relatively stable with shipments of 521,000 metric tons, up […]
North America’s plate mills have announced their second round of price increases in less than three weeks, seeking another $40 per ton ($2/cwt). Nucor’s Plate Mill Group was the first to inform customers of the change on Friday, prompting similar announcements by most other mills on Monday. SSAB Americas advised customers it is increasing transaction […]
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 […]
Following Nucor’s lead on Friday, ArcelorMittal USA, EVRAZ and SSAB Americas informed customers this week that they are raising the spot price of their plate products by a minimum of $40 per ton ($2/cwt), effective immediately. ArcelorMittal and EVRAZ informed customers verbally, SMU was told, while SSAB distributed a letter stating that the $40 per […]
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 […]
SSAB Americas saw a drop in sales from first to second quarter due to lower volumes and prices. Sales of SEK 4.5 billion ($485 million) were down 6 percent from Q1 but were 13 percent higher than a year ago. The company reported good demand in several segments but cautious buying and destocking at service […]
Most of my day today was spent communicating with steel buyers and a few steel mills to see where prices are being offered on the spot market by the mills, and where transactions were occurring. As I went through this process, I also collect comments about whether increases are “sticking’ and if the industry believes […]
Over 800 executives are registered with just seven 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, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Over 800 executives are registered with just seven 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, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
More than 700 executives are registered with slightly more than two months 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, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
More than 700 executives are registered with slightly more than two months 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, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
Good afternoon/evening from Davenport, Iowa. Davenport is where the Mississippi River flooded the downtown area a couple of weeks ago. Water levels are down four feet from their highest point, and the flood waters reached the parking lot of our hotel before receding back across the railroad tracks. The river is still in flood stage […]
Ronald J. O’Malley has been appointed president of the Association for Iron & Steel Technology (AIST) for 2019–2020. O’Malley succeeds James F. Dudek of United States Steel Corp. O’Malley is the F. Kenneth Iverson Chair Professor in Steelmaking Technologies and director of the Kent D. Peaslee Steel Manufacturing Research Center at the Missouri University of Science […]
President Trump has announced that he intends to increase the Section 301 tariffs on Chinese finished goods to the full 25 percent by the end of this week (current rate on first batch is 10 percent). He also intends to increase the number of products to be hit. His statement was the Chinese were dragging […]
SSAB Americas was a strong contributor for SSAB’s global steel business in the first quarter of 2019. The Americas segment turned in a solid performance with an EBITDA margin of 23 percent and record profit of $129 million due to higher steel prices. Sales increased 45 percent from the first quarter of 2018 to $3.363 […]
Another exciting week in the steel industry… A couple of reminders: With four months yet to go we are marching toward 400 registered executives for the 2019 SMU Steel Summit Conference, which will be held in Atlanta on Aug. 26-28. This is THE premier networking event for the steel industry during the calendar year. Here […]
I thought I would depart from my usual routine and talk about something a little different in my final thoughts this evening. Time, and time management, have always been big issues in my life. It seemed natural for me to work 80-hour weeks and to think nothing of it. It brought me success in my […]
For all of you golf fanatics, it was fun to see Tiger Woods win after a 14-year drought at the Masters, and after his serious back injuries that made it look doubtful if he would ever be able to play again, never mind win a Masters Championship. I don’t have the exact count of current […]
Registrations continue to pour in for the 2019 SMU Steel Summit Conference. Here are a few of the latest registrations from this week (those with an * mean more than one person registered from that company): Ryerson*, Whirlpool, Rheem*, JFE Shoji Trade America, Wallner Expac*, Ram Steel Framing, Oshkosh Corporation*, JSW Steel USA* and Midrex […]
President Trump gave the Mexican government one year for them to stop the migration of immigrants, most from Central and South American countries, as well as illegal drug smuggling into the United States. The stick he is waving is not closing the border (which would decimate the U.S. economy), but instead threatening tariffs on automobiles […]
We stuck in a couple of Premium level articles in tonight’s issue to give our Executive members an opportunity to review the level of detail we put into Premium products. With our new pricing we have exceptional membership levels on both Premium and Executive products, especially for those of you who would like to share […]
This morning SMU was speaking with one of the e-commerce companies regarding their business and some of the challenges they see when dealing with companies buying and selling steel through their platform. One of the pitfalls recognized by the head of the e-commerce site was the lack of use of proper nomenclature for the products […]