Tag: steel

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

Canadian steelmaker Algoma has announced the retirement of its VP of sales Rory Brandow, effective Dec. 1.

Nucor aims to increase base prices on all new sheet orders, effective immediately. The Charlotte, N.C.-based steelmaker seeks at least $1,100 per ton ($55 per cwt) for hot-rolled coil (HRC), according to a Monday letter to customers.

New orders for manufactured durable goods fell in the US in October.

Global steel output inched higher from September to October, even as production declined in China, the World Steel Association (worldsteel) said in its latest monthly report.

Sometimes a journalist’s life comes with unexpected perks. That is, beyond the day-to-day of writing stories, a wayward email can come across the Inbox with an attractive invite, and the promise of free food.

Flat-rolled steel prices were in a holding pattern ahead of Thanksgiving.

Steel Market Update will be taking time off in observance of Thanksgiving. Our offices will be closed on Thursday and Friday, Nov. 23–24. We will not publish an issue on Thursday, Nov. 23, or on Sunday, Nov. 26.

A year after signing purchase agreements with two US steelmakers, Trane Technologies has shipped more than 1 million HVAC units produced with low-carbon steel.

The 2024 Tampa Steel Conference is only nine weeks away. Tampa Steel is one of the premier steel conferences in the country. It is a great follow-up to the record-breaking SMU Steel Summit in August.

Galvanized steel buyers reported a seller's market with steady demand, long lead times, and strong pricing on this month’s call of the Sheet Metal/Air Handling Council of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association.

Prices of steelmaking raw materials are largely up over the over the last 30 days, as they were the month prior, according to Steel Market Update’s latest analysis.

Turkish scrap import prices increased for a third consecutive week.

Raw steel production in the US inched up in the week ended Nov. 18, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 20.

Algoma is an important Canadian flat-rolled steel producer. It is also a significant supplier to the US market. We’ll discuss current dynamics in the North American sheet and plate markets – as well as some of the particulars of the Canadian market.

There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]

Last week was billed as big. The annual meeting of members of the Asia Pacific Economic Cooperation (APEC) in San Francisco convened amid much fanfare. A much-anticipated meeting between President Biden and President Xi Jinping of China was a featured event. So also, was the anticipated completion of the framework agreements establishing the Indo-Pacific Economic […]

Nucor Corp. has announced a $280-million investment to modernize its plate mill in Tuscaloosa, Ala.

The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years.

United Auto Workers (UAW) members have ratified a new labor contract with Detroit-based General Motors, the largest US automaker. In other words, the UAW strike that began on Sept. 15 - and that rattled the steel industry in the months leading up to it - is almost in the rear-view mirror.

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.