Tag: steel

A roundup of recent aluminum news from CRU.

Canada’s Algoma is set to host the grand opening of its modernized plate mill in Sault Ste. Marie, Ontario, on June 18.

Nucor Corp. has guided to much lower second-quarter earnings, as profitability in its steel mills segment suffers due to lower prices and volumes.

The spread between hot-rolled coil (HRC) and prime scrap prices has narrowed for the second consecutive month, according to SMU’s most recent pricing data.

We’ve been writing a lot about sheet prices, and those for hot-rolled (HR) in particular, coming down. Here's one thing that hasn't dropped: The wide spread between HR and cold-rolled (CR) prices. That's what's in a chart below. And I'm using it as a rough proxy for galv and G'lume base prices as well

The amount of finished steel available to the US market rose 1% from March to April, according to SMU calculations on Department of Commerce and the American Iron and Steel Institute (AISI) data.

SMU’s monthly at-a-glance articles summarize important steel market metrics for the prior month. This May report contains data updated through June 7. Steel prices for sheet and plate products continued to edge lower throughout May. The SMU Price Momentum Indicator was adjusted from neutral to lower at the beginning of the month. We saw a […]

Crude oil prices are forecast to ease slightly through the remainder of the year, while natural gas prices are expected to move higher following recent lows

Domestic scrap prices have fallen in June for all grades tracked by SMU, with prime scrap sinking $30 per gross ton (gt) from May, according to scrap sources.

US hot-rolled (HR) coil prices fell further this past week, bringing them even with offshore hot band prices on a landed basis.

Friedman Industries reported lower earnings in its fiscal fourth quarter, and the company expects first-quarter margins to be lower than Q4 margins due to declining HRC prices.

Canacero has weighed in on the workers' protest at ArcelorMittal Mexico’s Lazaro Cardenas mill, urging a quick resolution to the dispute.

Steel Market Update’s Steel Demand Index moved up 2.5 points last week, though it remains in contraction territory and at one of the lowest readings in nearly a year, according to our latest survey data.

Olympic Steel is celebrating Executive Chairman Michael D. Siegal's 50th work anniversary and the company’s 70th year in business.

Canadian flat rolled producer Algoma Steel has appointed Erin Oliver to the newly created role of vice president – health and safety.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Sometimes, words can lead you in interesting directions. Specifically, crosswords. For the last six weeks we have been making steel-themed crosswords in the lead-up to SMU's Steel 101 course in Fort Wayne, Ind., which is taking place today and tomorrow. I’ve learned snippets of steel history and educated myself on the finer points of sponge iron.

Total steel exports rebounded 6% in April, rising to 842,000 short tons (st) according to the latest US Department of Commerce data.

The USMCA is an important trade agreement, as long as the member countries honor its requirements. These were the sentiments echoed by top officials of the Steel Manufacturers Association (SMA) and Metals Service Center Institute (MSCI) during a press conference at their annual meeting last week in Scottsdale, Ariz.

Steel imports fell back in May from April’s recent high but remained elevated compared to the levels seen over the past year. A deeper dive into the data confirms what SMU has been hearing from sources: Coated sheet is driving the recent rise in overall import levels.

U.S. Steel has shut down battery No.15 at its Clairton coke works in Pennsylvania for good, broadcaster CBS reported. The closure is part of an agreement with the local Allegheny County health department after the authority fined the company $2.2 million earlier this year for air emission violations at the plant, and $1.8 million two years ago […]

Mexican steelmaker Deacero recently broke ground on a $600-million mini-mill in Ramos Arizpe, Coahuila, in northern Mexico.

Domestic raw steel production eased last week, falling from an eight-week high down to a four-week low, according to the latest release by the American Iron and Steel Institute (AISI).

Nucor said on Monday that it would lower its weekly hot-rolled (HR) coil price effective immediately. In a letter to customers, the company said its consumer spot price (CSP) for the week of June 10 would be $720 per short ton (st), a $60/st cut vs. the prior week. This is not the first big […]

Where do sheet prices go from here? How is the state of steel demand? And is the dip in prices we've seen just a case of the summer doldrums, or is it something more significant?

Now that June has arrived, the official countdown until SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference – has begun. If you haven’t already registered, don’t delay. More than 700 attendees from more than 300 companies have already registered to be in Atlanta this August. In short, it’s poised to be another […]

Oil and gas drilling activity in the US ticked down last week, remaining near a two-year low, according to the latest update from Baker Hughes. In contrast, the Canadian count inched higher and is now at a 10-week high.

Offshore cold-rolled (CR) coil prices remain notably cheaper than domestic product. That remains the case even as US CR coil prices continue to tick lower.

Steel 101 The final countdown to our Steel 101 course has arrived. Held in Fort Wayne, Ind., on June 11-12, all the main ins and outs of steelmaking will be covered. And there will be a tour of SDI's Butler mill. You can still register here or reach out to us at events@steelmarketupdate.com.

Alacero has named new top leaders to help guide the Latin American steel association through its ongoing transformation and modernization process.