Tag: steel

Nippon Steel believes it can successfully complete its planned buy of U.S. Steel, according to a report in Reuters.

Commercial Metals Co. saw robust demand from the construction markets in its first fiscal quarter, which ended on Nov. 30, 2023.

We only have three weeks left until the Tampa Steel Conference! If you haven’t already registered, there is still time, but the clock is winding down! The event runs from Sunday-Tuesday, Jan. 28-30, at the JW Marriott Tampa Water Street hotel. You can learn more about the agenda, explore networking opportunities, and register here. Visiting Tampa is […]

I’d have been surprised if anyone told me just last week that the January scrap market might move lower. What we saw on Friday were offers. Not settlements. And no doubt there are still some twists and turns in store before we can say for sure which way scrap will go.

All good things, including but not limited to the Holiday Season, must come to an end. The corporate independence of U.S. Steel Corporation looks like it’s coming to an end also, despite objections from some politicians and the United Steelworkers union.

The Department of Commerce issued its final determination in the trade case involving tin mill products from a handful of countries.

A Detroit-area mill entered the scrap market on Friday afternoon with the following offers: The Chicago area followed suit: Mills in the Great Lakes region sensed there was ample supply of most grades. Also, they all bought heavily last month and so had sufficient inventories to make this move, market participants said. Still, the move surprised […]

The new year represents an opportunity to capitalize on America’s leadership position in free market principles, steel industry modernization, and global efforts to create a lower carbon future for the steel industry. Steel Manufacturing Association (SMA) members are poised to lead the way.

The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, […]

The International Trade Commission (ITC) held a hearing on Thursday, Jan. 4, to consider arguments for and against the imposition of antidumping and countervailing duties (AD/CVDs) on tin mill products from a handful of countries. Both sides made compelling arguments.

Active domestic rotary rigs dipped slightly this week, but Canada's firms increased their count significantly, according to Baker Hughes.

SMU’s Buyers Sentiment Indices both fell this week, with current sentiment taking a large dive to begin the new year, according to our most recent survey data.

SMU polled steel buyers on a variety of subjects this past week, including purchasing practices, steel sheet prices, scrap, and the future market.

The LME aluminum 3-month price was moving further down on the morning of Jan. 5 and was last seen trading at $2,287 per metric ton (mt) as of this article’s writing, already down 6% from its recent peak. SHFE cash also concluded the first week of the year on a weaker foot. The cash contract […]

The iron ore price has edged up further from the already high level seen last week. The market is generally slow, meaning that the moderate price increase came from the bullish outlook from the market following last week’s stimulus announcements from China and expectations of restocking picking up. Supply fell w/w from both Australia and Brazil as […]

After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe.

Cleveland-Cliffs didn’t wait long to roll out the first price increase of the year - $1,150 per short ton (st) for hot-rolled coil. That’s up $50 per ton from the steelmaker’s last published price. Will anyone follow? I’ve heard some mills are meeting this week but that any announcement might not come until next week. We'll see.

Steel mill lead times pulled back across the board this week but are still said to be at healthy levels, according to SMU's market survey this week.

Radius Recycling reported a net loss in its fiscal first quarter of 2024 on tighter supply flows for recycled metals and lower average selling prices for the company’s products.

The percentage of steel buyers saying mills were willing to negotiate spot pricing on the products SMU surveys was mixed this week.

US hot-rolled coil (HRC) prices moved up again this week and remain significantly more expensive than offshore product.

Canadian flat-rolled steelmaker Algoma Steel Group Inc. guided toward lower earnings in its fiscal 2024 third quarter, citing the United Auto Workers (UAW) strike and lower steel prices last fall.

New Reibus CEO Temy Mancusi-Ungaro and company President Chris Shipp will join SMU for the inaugural Community Chat of 2024 on Wednesday, Jan. 10, at 11 am ET. You can register here.

After falling in November, steel imports appear to have bounced back to a five-month high in December.

Olympic Steel has promoted Zachary Siegal to the newly created role of president of manufactured metal products.

Cleveland-Cliffs is now targeting base prices of $1,150 per ton for hot-rolled coil (HRC), according to a press release on Wednesday morning, Jan. 3.

SMU doesn’t do forecasts. We leave that to our colleagues at CRU. But we’re pretty good at surveys, and we’ve got a great group of readers. That’s why we decided to ask you what’s in store for 2024. The results are below, along with some insightful comments in italics.

Nucor Corp. announced in a letter to customers on Friday, Dec. 29, that its plate mill group would hold prices unchanged for as-rolled discrete plate, normalized, and quenched-and-tempered plate with the opening of its plate mill order book for February.

Wilbur Ross doesn’t believe the proposed sale of U.S. Steel to Japan’s Nippon Steel poses any threat to the economic or national security of the US.

The Mexican government has placed anti-subsidy (CVD) duties of almost 80% on cold rolled (CR) sheets from Vietnam, with the caveat that if the importer can prove the steel comes from a country other than China then it is exempt from the levy.