Algoma Steel Inc. expects to wrap up a previously announced outage on its plate mill by the end of this month, a company spokeswoman said. The outage is part of the Canadian flat-rolled steelmaker’s $130 million CAD ($95 million USD) modernization project. It began in mid-April.
Steel Dynamics Inc. (SDI) executives said the company's Sinton, Texas, sheet mill should be able to increase melt capacity after an outage earlier this month. Sinton should see "additional improvements in production" after taking "several maintenance days in April," Barry Schneider, SDI president and COO, said in a Q1 earnings conference call on Wednesday.
Lower demand and prices for steel plate impacted SSAB Americas’ results in the first quarter, Swedish parent company SSAB said in its Q1'24 interim report.
Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.
Hybar CEO David Stickler will be the featured speaker on the next SMU Community Chat webinar on Wednesday, May 1, at 11 a.m. ET. The live webinar is free. A recording will be available to SMU members. You can register here.
We've used the word "unprecedented" a lot over the last four years to describe steel price volatility. Over the last two months – despite earlier predictions of a price surge - we've seen unprecedented stability.
With strength in the sector and customers needing the product it produces, Cleveland-Cliffs’ chief executive says the company will be more selective with the automotive customers it chooses to serve.
Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.
Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]
Global steel output jumped 8.3% in March, according to World Steel Association’s (worldsteel's) latest release. Production is now at the highest level seen in 10 months, rebounding from a near six-year low observed just three months prior.
Cleveland-Cliffs’ chief Lourenco Goncalves and US Secretary of Energy Jennifer Granholm stressed the importance of the US steel industry and domestic manufacturing at Cliffs' Butler Works in Pennsylvania on Monday.
Lapham-Hickey Steel has acquired the operating assets of Crystal Steel Corporation of Middleton, Mass., for an undisclosed sum.
Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.
Domestic raw steel production slipped last week and now stands at a four-week low, according to the American Iron and Steel Institute (AISI).
Cleveland-Cliffs Inc. continued to lose money in the first quarter, with the steelmaker blaming the loss in part on the idling of its tinplate facility in Weirton, W.Va.
ArcelorMittal plans to build a new electrical steel manufacturing facility near its AM/NS Calvert joint-venture mill in Alabama.
AZZ Inc. said it is seeing improving demand for its coil coating services as it reported a solid quarterly performance.
Zekelman Industries will invest up to $120 million to expand the manufacturing capabilities and product offerings of its Atlas Tube subsidiary in Mississippi County, Ark.
Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) flat this week.
I was in Las Vegas last week for ISRI’s annual convention. I like Vegas. I’ve had some fun there over the years. (I was married there nearly 20 years ago. We're still together.) And last week was no exception. So let’s start with the big news from Sin City. When the recycled materials industry meets for the big event next year, it will be under the banner of "ReMA" – not "ISRI".
Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]
Steel is a foundation of the global economy. It is an essential raw material for nearly every industry, from automotive and construction to transportation, machinery, and energy.
Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.
After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]
Foreign cold-rolled (CR) coil remains less expensive than domestic product, according to SMU’s latest check of the market.
Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.
Here’s a roundup of the latest news in the global aluminum market from our colleagues at CRU. Biden calls for tripling of Chinese steel and aluminum tariffs President Joe Biden is calling on the US Trade Representative (USTR) to consider increasing the existing section 301 import duty on Chinese steel and aluminum three-fold. The current […]
To the surprise of many — myself included — flat-rolled steel prices appear to be in a holding pattern… again. This is not familiar territory for hot-rolled (HR) coil, at least not over the past few years. Its pricing volatility (as my colleague Michael Cowden has noted in past columns) may rival the elastic moves […]
Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis.
US hot-rolled (HR) coil has become gradually more expensive than offshore hot band in recent weeks, as stateside prices have stabilized while imports moved lower.