Evraz North America is joining other steelmakers in raising prices for steel plate. All new orders for carbon, high-strength low-alloy, hot-rolled coils, normalized, and quenched-and-tempered products will immediately increase by a minimum of $60 per ton ($3 per cwt), the Chicago-based steelmaker said in a letter to customers. “We reserve the right to re-quote any […]
SSAB Americas has announced plans to increase plate prices by at least $80 per ton ($4 per cwt), the third of its kind in as many months. The notice follows in short order from Nucor’s $50-per-ton increase announced today. The price hike applies equally to rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is […]
US plate prices have steadily increased over the past two weeks, largely in response to repeated mill price hikes. The most recent increase came from Cleveland-Cliffs when the steelmaker aimed to increase base prices for steel plate by at least $60 per ton ($3 per cwt). It was Cliffs’ first official plate price notice in […]
Cleveland-Cliffs Inc. aims to increase base prices for steel plate by at least $60 per ton ($3 per cwt). The Cleveland-based steelmaker said the move was effective immediately on all new, non-contract orders. It applies equally to as-rolled, normalized, and quenched-and-tempered material, Cliffs said in a press release on Thursday, March 2. “Cliffs also reserves […]
Last week’s mill price increases continue to make their way into the market. Cliffs’ latest this week – up another $100 per ton ($5 per cwt) and setting a new base price for hot band of $1,100 per ton – has yet to be reflected in today’s pricing. But that hasn’t stopped it from garnering […]
US plate prices have remained mostly flat this week, a trend we’ve seen since Nucor announced a plate price cut in late November. Recall that in late November, Nucor said it would be lowering plate prices by $140 per ton ($7 per cwt) with the opening of its January order book. Plate tags have varied […]
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt). The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders, the company said in a letter to customers on Friday, Feb. 24. SSAB said […]
Nucor Corp. will again keep plate prices unchanged with the opening of its April order book. The steelmaker has now repeatedly maintained its plate tags since its sharp price cut in late November when it lowered plate prices by $140 per ton ($7 per cwt). The Charlotte, N.C.-based steelmaker said the move was effective on […]
US plate prices have been largely stable since the beginning of December after tags fell by $140 per ton following Nucor’s price cut notice at the end of November with the opening of it January order book. A move that caught many by surprise at the time. But since then, plate prices have varied by […]
The Steel Manufacturers Association (SMA) has announced the election of Ty Garrison as chairman. Garrison is senior vice president of operations at Irving, Texas-based Commercial Metals Co. (CMC). He leads operations and commercial teams in the US and Poland, along with supply chain and engineering functions. Garrison joined the CMC commercial team in 2000 and […]
Strong plate prices and a stronger US dollar helped SSAB Americas record higher earnings in the fourth quarter vs. the same quarter in 2021. But Swedish parent company SSAB said plate prices have decreased from previous high levels. “We saw that prices decreased somewhat in Q4 from very high levels, but all in all, a […]
Nucor Corp. will keep plate prices unchanged with the opening of its March order book. The steelmaker has now maintained its plate tags since its sharp price cut in late November. The Charlotte, N.C.-based steelmaker said the move was effective on Jan. 26, according to a letter to customers. Published adders and extras will continue to […]
We’re less than two weeks away from the Tampa Steel Conference. It’s not too late to register, but you should do it ASAP. The event will be at the Tampa Marriott Water Street hotel on Sunday-Tuesday Feb. 5-7. Approximately 445 people have already registered, which is more than total attendance last year. New companies are being added […]
We’re less than two weeks away from the Tampa Steel Conference. It’s not too late to register, but you should do it ASAP. The event will be at the Tampa Marriott Water Street hotel on Sunday-Tuesday Feb. 5-7. Approximately 430 people have already registered, which is more than total attendace last year. We expect that number to […]
We’ve seen several sheet price hike announcements from mills over the past couple of months, to the tune of $160 per ton ($8.00 per cwt) since late November. This week alone we’ve seen at minimum Cleveland-Cliffs and ArcelorMittal officially increase spot prices for steel sheet by at least another $50 per ton ($2.50 per cwt). […]
SSAB Americas has announced plans to increase plate prices by at least $60 per ton ($3 per cwt). The price hike applies equally to as-rolled, normalized, quenched-and-tempered, and wide cut-to-length plate products. It is effective immediately on all new, non-contract orders confirmed to ship the week of March 5 or later, the company said in […]
We’re less than one month away from the Tampa Steel Conference. The event will be at the Tampa Marriott Water Street hotel again, so mark your calendar for Sunday-Tuesday, Feb. 5-7. There are nearly 375 attendees registered, and the list is growing daily. Keep in mind that this is the high season for tourism in Florida, and […]
Nucor Corp. has partnered with Boulder, Colo.-based startup Electra to develop “carbon-free” iron. The goal is to further reduce greenhouse gas emission in Nucor’s steelmaking operations. “Just as Nucor changed the face of the steel industry 53 years ago with our first electric arc furnace, successfully developing and scaling up a zero-carbon iron product is the […]
Volvo has become the world’s first truck manufacturer to deliver electric trucks made with fossil-free steel. The Swedish auto manufacturer announced on Nov. 10 that the trucks are now being delivered to customers. According to a press release, Volvo began manufacturing the heavy-duty electric trucks in September. “Our journey to net zero emissions includes both […]
The US Department of Commerce’s International Trade Administration (ITA) is updating import duties on hot-rolled steel flat products from Turkey and South Korea. The agency just released preliminary results in reviews of the countervailing duties on Turkish product and antidumping duties on South Korean product, according to Federal Register filings. In the initial results of […]
Nucor on Thursday confirmed its plate prices would remain unchanged with the opening of its December order book. Though the market was anxiously awaiting the Charlotte, N.C.-based steelmaker’s announcement, few were surprised by it. Why? It’s not clear that a price decrease at this stage in the fourth quarter would generate buying. And it would devalue […]
The strong performance of SSAB Americas was a bright spot in Swedish parent company SSAB’s third quarter earnings report as the company’s European segment was impacted by weaker demand and low shipments. SSAB Americas posted Q3 operating profit of SEK 3,036 million (US$276.65 million) — a 61% improvement from the same quarter of 2021. The […]
The Biden administration is pushing its Federal Buy Clean Initiative to reduce carbon emissions from American industry and to support the purchase of low-carbon, made-in-America construction materials. The administration last week lauded two domestic steelmakers for their commitments to lower emissions and for participating in the initiative. Cleveland-Cliffs is the first domestic steel producer to […]
Well, earnings season is now well underway. We’ve seen the early reporters like steel processor Worthington Steel (who announced it will be splitting off its steel segment and creating two separate, publicly traded businesses), as well as tube producer Webco, and steel and metal manufacturer Commercial Metals Co. all report strong results in their latest earnings. […]
Well, I guess it’s the official outage and idling season. In the month of September alone we’ve confirmed a half dozen or more maintenance outages (some pulled forward) and temporary idlings. Why? It sure looks like some steelmakers are trying to deal with declining demand and uncertain market conditions. The hope? Somewhat of a stopgap measure […]
NLMK USA has planned a roughly month-long outage for upgrades to its electric-arc furnace (EAF) sheet mill in Portage, Ind. The work is scheduled for October and November and will be focused on enhancements to the plant’s melt shop and hot strip mill, a company spokesman said. NLMK USA in emails to customers specified the […]
US plate prices fell this week, responding to Nucor’s latest price announcement on Monday, Sept. 19. Price tags remain under pressure and further declines are expected through the fourth quarter as spot demand is likely to remain limited. But few expect Nucor’s latest plate price announcement to generate any immediate business, sources told SMU, speculating […]
SSAB is expanding its decarbonization efforts. The Swedish steel company recently announced its partnership with equipment manufacturer Oshkosh Corp. Oshkosh will receive fossil-free steel from SSAB to manufacture environmentally-friendly vehicles. “We are very happy to welcome Oshkosh Corp. into our partner group to be the first in the US to prototype fossil-free steel in commercial and […]
SSAB Americas is forging ahead to show customers, the government, and other stakeholders that it is serious about sustainability and achieving its ultimate goal of “net zero” emissions. The flat-rolled steelmaker recently released Environmental Product Declarations (EPDs) for its steel plate and coil products that show it is well ahead not just of others in […]
A planned maintenance outage at SSAB America’s 1.25-million-tons-per-year plate mill in Montpelier, Iowa, began this week, the company confirmed to Steel Market Update. The outage had been planned for October but was moved up into September and is now expected to last through Oct. 5. Costs related to the outage were previously anticipated to be […]