Tag: steel news

What's the tea in the steel industry this week? Here's the latest SMU gossip column! Just kidding... kind of. Yes, some of the comments we receive in our weekly flat-rolled market steel buyers' survey are honestly too much to put into print. Some make us laugh. Some make us cringe. Some are cryptic. Most are serious. We appreciate them all. Below are some highlights from our survey results this week. Some of the comments that we can share with you are also included, in italics, in the buyers' own words, with minimal editing on our part.

Nucor made waves in the sheet market when it announced on Friday that it would begin publishing a weekly hot-rolled (HR) coil price. The Charlotte, N.C.-based steelmaker arguably made even bigger waves on Monday when it posted its first weekly HR number: $830 per short ton. That’s $70/st lower than the $900/st HR price Cliffs announced in late March. It’s also lower than prices in the mid-$800s that other mills were (less publicly) seeking.

Steel Dynamics Inc. (SDI) said it expects third-quarter earnings to be lower than the previous quarter and also below the results posted a year earlier.

Mexico has decided to implement import tariffs on a number of products, among them, steel.

If you haven’t already registered, there’s still time to join the more than 1,300 attendees from over 500 companies that will be in Atlanta for Summit.

We’re two weeks away from the 13th annual SMU Steel Summit.

The founder of Hascall Steel, Wayne Charles Hascall, passed away on July 29 at the age of 88. Hascall was a loving husband, father, brother, and grandfather. He also served his country as a proud member of the United States Marine Corps.

There are about 20 days to go until SMU’s 2023 Steel Summit Conference, and there’s still plenty of time to register – just click here! More than 1,200 people have registered to attend so far, which means we’re on track to exceed last year’s record. Steel Summit is Monday-Wednesday, Aug. 21-23, in Atlanta at the Georgia International Convention Center […]

In the past two months, the US Midwest Hot Rolled Coil (HRC) futures market has experienced significant fluctuations. The initial decline in prices led to destocking and low inventory levels. However, recent price increase announcements by mills halted the downward trend and even reversed it temporarily.

Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]