Tag: steel

SMU’s Current and Future Steel Buyers Sentiment Indices both fell during the week of Dec. 6, based on our most recent survey data.

We have seen a wave of service center transactions announced since the beginning of the month.

The Dodge Momentum Index (DMI) slipped in November due to a general decrease in slightly weaker commercial and institutional activity, according to the latest Dodge Construction Network (DCN) data.

The percentage of steel buyers saying mills were willing to budge on spot pricing has risen for all sheet products SMU surveys, according to our most recent survey data.

Movements in lead times were mixed in SMU’s check of the market this week – a reflection of the seasonal dip in ordering that is typically seen during the winter holiday season.

On Dec. 6, US Senator Sheldon Whitehouse (D-RI) reintroduced the Clean Competition Act, an environmental trade directive that would impose charges on imports from more carbon-intensive manufacturers.

A group of organizations and stakeholders introduced a set of Steel Standards Principles at the COP28 UN Climate Change Conference.

American steel mills sent out more tons of steel in October than the previous month, according to the latest monthly data from the American Iron and Steel Institute (AISI). Domestic mills shipped 7,346,373 net tons in October, up 1.3% from the 7,252,942 tons sent out in September. Shipments were also up 1.9% compared to the […]

A large Detroit-area scrap buyer entered the market on Wednesday at significantly higher prices than a month earlier.

Cleveland-Cliffs is now targeting base prices of $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC).

I want to thank the Heating, Air-conditioning & Refrigeration Distributors International (HARDI) for the opportunity to speak at their annual conference in Phoenix. I enjoyed the proceedings and participating in a panel for HARDI’s sheet metal/air handling council. I can’t recap all that we discussed in a few hundred words. But I’d like to share […]

Ryerson Holding Corp. announced Dec. 4 that it acquired Hudson Tool Steel Corporation. The Cerritos, Calif.-based Hudson is a supplier of tool steels and high-speed, carbon, and alloy steels. The company has additional locations in Loves Park, Ill., and Dover, N.H. Terms of the deal were not disclosed. “Hudson’s offering of high-quality standard and specialty-grade […]

Steel prices continued to rally last month on the back of repeated mill price increases after tags reached a 2023 low of $645 per ton in late September. Hot-rolled coil (HRC) prices ended November at an average of $923 per ton ($46.15 per cwt), rising by $140 per ton during the month. The SMU Price […]

The 2024 Tampa Steel Conference is less than two months away. It is one of the premier domestic steel conferences and a great compliment to our record-breaking SMU Steel Summit this past August.

TimkenSteel has begun utilizing AI software from Worlds to gain insight into its steel manufacturing processes.

AM/NS Calvert will continue providing hot rolling tolling services for Outokumpu for the time being.

Raw steel production in the US rose in the week ended Dec. 2, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 4.

A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.

The Global Steel Climate Council (GSCC) announced on Dec. 4 the appointment of an executive director.

It’s no surprise why spot prices are on the rise: Mills have been announcing higher flat-rolled tags for the better part of the past three months, according to our steel mill price increase calendar. A leading cause of the $305-per-ton rally since prices reached a recent bottom of $645 per ton in late September has […]

Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. We’ll discuss M&A in the steel and metals industries. Is there still room for consolidation in flat-rolled steel?

CRU analysts share an update on the aluminm markets.

Worthington Industries has completed its split into two separate companies: Worthington Steel Inc. and Worthington Enterprises Inc.

Steel dominated the industries seeking repeated relief from unfair trade between 1995 and 2020, according to a new report compiled for the International Trade Commission (ITC).

The Canadian government has given ArcelorMittal-linked Baffinland Iron Mines permission to dispatch up to 6 million metric tons per year from its Mary River mine in Nunavut territory, higher than the 4.2 million metric tons per year previously permitted. The approval from northern affairs minister Dan Vandal allows Baffinland to make the extra shipments if […]

Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.

Algoma Steel’s CEO Michael Garcia joined SMU Managing Editor Michael Cowden for a Community Chat on Wednesday, Nov. 29. A great discussion was had on topics ranging from plate pricing to decarbonization efforts, raw materials strategies, and more.

US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.

Bids for U.S. Steel are due on Friday, according to sources familiar with the matter. Friday is also allegedly when a non-disclosure agreement (NDA) between Cleveland-Cliffs Inc. and the Pittsburgh-based steelmaker expires.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.