Tag: steel

SMU discussed wind energy, a promising end-use market for steel, with SSAB Americas’ SVP and CCO Jeff Moskaluk.

On SMU's Nov. 15, 2023, Community Chat, the CEO of the Center for Automotive Research discussed steel's role in the automotive industry's transition to EVs.

In the dynamic landscape of the steel futures market, a confluence of factors is shaping the current narrative.

US Hot-rolled coil (HRC) prices continue to surge on the heels of mill increases. They have become significantly more expensive than prices for hot band imported from offshore. Domestic hot band tags moved higher for a seventh consecutive week. Imports have seen only marginal gains over the same period, according to SMU’s latest foreign vs. domestic price analysis.

Algoma Steel CEO Michael Garcia will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Nov. 29, at 11 am ET. You can register here.

Steel Market Update’s Steel Demand Index has moved into growth territory after seeing steady improvement since mid-September, according to our latest survey data.

Flat Rolled = 52.6 Shipping Days of Supply Plate = 61.8 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories decreased for a third consecutive month in October. At the end of October, service centers carried 52.6 shipping days of supply, according to adjusted SMU data. This is down from 53.3 shipping […]

Sheet prices are up again. That shouldn’t come as a surprise on the heels of mill price hikes, scrap settling up and expected to move higher over the next few months, and inventories – as our premium subscribers will learn tomorrow – moving lower for a third month.

Spot prices for steel sheet shot upward again this week on the heels of steep price increases announced by domestic mills last week. SMU’s hot-rolled coil price rose to $940 per ton ($47 per cwt) on average, up $75 per ton from last week and up nearly $300 per ton from a 2023 low of […]

A group of California members of Congress is calling on U.S. Steel to keep its USS-UPI steel mill in Pittsburg, Calif., open by finding a buyer for the operations.

Canadian miner Teck Resources has announced the sale of its metallurgical coal business, Elk Valley Resources, with Swiss miner Glencore becoming the majority stakeholder.

Steel Market Update spoke with Jonathan Shank, the new COO of JSW's Mingo Junction mill, on its $145-million investment project.

We’re just 12 weeks from Tampa Steel Conference 2024, one of the premier North American steel community events.

Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said.

Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]

Raw steel production in the US decreased in the week ended Nov. 11, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 13.

Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]

SSAB Americas will supply its low-carbon SSAB Zero steel to GE Vernova Onshore Wind for wind towers in North America.

Certain welded steel pipe and tube products being exported from Vietnam to the US have, in fact, been illegally evading the payment of import duties, a US government agency announced this week.

The historically significant Sparrows Points steel mill site in Baltimore is set to live another life as a wind turbine factory under the name “Sparrows Point Steel.”

JSW Steel USA is expanding the rail infrastructure at its Mingo Junction mill, thanks in part to a grant from the state of Ohio.

There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.

US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.

Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.

The percentage of steel buyers saying mills were willing to negotiate spot pricing fell for hot rolled this week, while plate's negotiation rate shot up, according to SMU's most recent survey data.

ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.

Center for Automotive Research (CAR) president and CEO Alan Amici will be the featured speaker on Steel Market Update’s next Community Chat webinar on Wednesday, Nov. 15, at 12 p.m. ET. You can register here.

The leader of the International Longshoremen’s Association (ILA) warned that members on the East and Gulf Coasts could go on strike in October of next year when the union’s contract expires.

Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.

Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation