The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR.
US hot-rolled coil (HRC) prices law little movement this week, a similar trend seen in offshore markets. Thus, the price premium domestic hot band carries over imported products was largely unchanged vs. the prior week.
The sun decided to greet us on the second day of the Tampa Steel Conference 2024. Attendees from the chillier northern parts of the continent got their dose of winter sunshine. But whatever the temps, it was inside the conference room where things really heated up. January is always a time to make sense of the year that’s just passed, and look out for the trends for the year ahead.
Nucor is optimistic about long-term activity from bridges and highways, semiconductor chip plants and renewable energy, but still sees some short-term challenges. The North Carolina-headquartered steelmaker expects the federal programs that support these megatrends “to add somewhere between 5 million to 8 million tons of incremental annual demand for steel over the next several years,” […]
Algoma Steel is currently navigating a challenge as it deals with an unplanned outage at its blast furnace, but the company’s CEO is still bullish on its future as an EAF steelmaker.
Thyssenkrupp Materials de México is opening a new service center in San Luis Potosí.
Cleveland Cliffs executives didn’t mince words when opening its Q4’23 earnings call.
With rising steelmaking capacity and relatively flat demand, industry analysts are predicting lower prices for sheet products this year.
U.S. Steel is to permanently idle battery No. 15 at the Clairton coke plant in its Mon Valley works in Pennsylvania following a series of air pollution incidents and fines.
Rising geopolitical tensions may threaten stability, while other factors like a climbing stock market and growing government investment point to one thing in the economy: it’s complicated. “It’s an interesting contradiction out there,” said Dr. Walter Kemmsies, managing partner of The Kemmsies Group, at the Tampa Steel Conference this week. In his keynote speech on […]
Nucor Corp. reported a decline in profits during the fourth quarter due to lower pricing and volumes.
Cleveland-Cliffs Inc. shipped more than 4 million short tons (st) of steel in each quarter of 2023, pushing its full-year shipments to a record 16.4m st.
Domestic production of raw steel moved down marginally last week, according to the most recent data from the American Iron and Steel Institute (AISI). The decline was the third straight dip in as many weeks. Steel output in the US totaled an estimated 1,680,000 short tons (st) in the week ended Jan. 27. That’s down […]
I’m writing these final thoughts from the JW Marriott in Tampa. And I’m looking forward to seeing some of you reading this in just a few hours at the opening networking reception of the Tampa Steel Conference. Nearly 550 people will be there – a new record for the event. If you’re looking for things […]
What a difference a few weeks make…. As this is our first column after the new year, it is quite interesting to observe how different the steel world looks at the end of January vs. the end of December.
Trade is not the major focus of the campaigns for the 2024 elections, either at the presidential or congressional level. But it is there as a live issue for business. And last August, former President Trump suggested a 10% tariff on virtually all imports as a “ring around the collar” of the US economy.
The Steel Manufacturers Association (SMA) outlined its praise for the US and EU extension on negotiations towards the proposed Global Arrangement on Sustainable Steel and Aluminum.
A Jan. 24 SEC filing by U.S. Steel Corp. reveals further details about the company’s strategic review process.
Rig counts in the US and Canada both notched week-on-week increases for the week ended Jan. 26, Baker Hughes’ latest data shows.
Steel Dynamics Inc. faces rising costs for its Columbus, Miss., aluminum rolling mill, but the project timeline remains on track.
Cleveland-Cliffs has successfully completed a hydrogen injection trial at its Indiana Harbor #7 blast furnace in East Chicago, Ind., near Chicago.
December’s import level was slightly lower than an earlier license count had suggested, resulting in December marking the second-slowest month for imports in 2023.
Brazilian steel maker Usiminas has resumed operations at blast furnace (BF) No. 3 at its Ipatinga works in the state of Minas Gerais. The restart comes after a BRL2.7-billion ($546-million) refurbishment on the unit, which has capacity of three million metric tons (mt) per year.
The American steel market, including the stainless steel market, continues to face serious threats from subsidized and dumped imports resulting from foreign government policies creating an unfair playing field. It is no secret that China is a major culprit.
The state of the US scrap market is not very well understood, according to the dealer trade. It seems steelmakers in several regions are still looking to buy scrap, several sources told SMU.
The Tampa Steel Conference is just a few days away. Here are some topics I’m looking forward to learning more about during the proceedings on Monday and Tuesday. For starters, we’ll have about a month of 2024 under our belt when we convene on Sunday. How does that compare to what we thought the start of the year would look like? And what’s the outlook for the balance of the year?
The 35th Annual Tampa Steel Conference starts in just a few days. As one of the premier domestic steel conferences, it’s the perfect way to kick off 2024. It’s not too late to register if you haven’t already done so, but make sure to book now!
U.S. Steel has idled its USS-UPI LLC subsidiary in Pittsburg, Calif., a company spokesperson confirmed. The idling happened in December, they said in an email to SMU.
Steel Dynamics Inc. executives said the company’s Sinton, Texas, flat-rolled steel is now Ebitda positive.
Global steel output fell in December, led by cuts in China, the World Steel Association (worldsteel) said in its latest monthly report. Annual totals in 2023 saw a similar trend.