NLMK USA told Steel Market Update this afternoon that if the 25 percent tariff on steel, and specifically on steel slabs, goes into effect, the future of their company and the people who work for it is in jeopardy long term. Steel Market Update spoke with Bob Miller, President of NLMK USA and Executive Vice […]
The SMU Steel Summit Conference is THE fastest growing steel conference in North America and THE one conference manufacturing, distribution, suppliers to the industry and steel mills want to attend. Details about the agenda, speakers, location and costs, as well as how to register, can be found on our website: www.SteelMarketUpdate.com/Events/Steel-Summit or you can contact […]
Ternium has extended its agreement to supply steel slabs to AM/NS Calvert for an additional 12 months, until December 2020. During Ternium’s fourth-quarter earnings call, CEO Daniel Novegil said Ternium Brazil will deliver the remaining 3.5 million metric tons of slab in annual increments of 1.2 million tons per year instead of 2.0 million tons […]
The Italian-Argentine industrial consortium Techint Group and its Ternium subsidiary are planning to construct a $1 billion hot rolled steel mill in Monterrey, Mexico. The mill will be part of an expansion of Techint’s industrial center in Nuevo León, where the consortium first started operations in 2013. The rolling mill will have an annual capacity […]
We did a quick check of lead times at a number of domestic steel mills on Friday of this past week. This is what we learned: Steel Dynamics Industries (SDI) – Butler, Ind. HR – closed for November production Pickled – closed for November production CR – closed for November production HRG – 11/20 (4 […]
Two new hot strip mills are in the works for the Mexican steel industry. Both ArcelorMittal and Ternium announced plans this week to make investments in their facilities to meet growing demand. The announcements coincide with decrees by Mexican President Enrique Peña Nieto creating three special economic zones that offer tax breaks to companies investing […]
Zinc is once again trading above $1.40 per pound ($1.42 as of 3:30 PM ET) and the smaller steel mills and converters are wondering why U.S. Steel, ArcelorMittal USA and Nucor haven’t made the move to higher zinc coating extras on galvanized steel? We have seen four mills make changes on their “spot” new orders: […]
Thyssenkrupp finalized the sale of Brazilian steel mill CSA Cia Siderúrgica do Atlántico to Ternium this week. The sale takes effect retroactively from Sept. 30, 2016. The $1.3 billion deal was hammered out in February. Completion of the transaction ends a long process for Thyssenkrupp to divest all of its Steel America assets. In 2014, […]
The following steel mills are registered to attend this year’s SMU Steel Summit Conference at the end of this month: ArcelorMittal Mexico, ArcelorMittal Dofasco, ArcelorMittal/Nippon Sumitomo Calvert, Ternium USA, Ternium Mexico, NLMK USA, Nucor, Nucor Mexico, Nucor Canada, Kandil Steel (Egypt), California Steel Industries, AK Steel, CSN USA, North Star BlueScope, Steel Dynamics Inc., The […]
I was advised late on Friday afternoon that we should expect a Nucor price increase early next week. With scrap prices firming $10 to $30 per ton our expectation is for the increase to be $25-$30 per ton. Then the question will be will the industry support another increase after tepid (at best) support for […]
Mexico is imposing antidumping duties on imports of flat coated steel from China and Taiwan, including flat carbon steel or steel alloy, corrosion resistant steel, and products with a metallic or non-metallic coating, reports the Mexico Ministry of Economic Affairs. The petition was originally filed by Ternium and Tenigal in December 2015 and concluded on […]
I have received a number of comments on the LinkedIn posts that I have put out there over the weekend. I shared our “Black Swan” article on my personal LinkedIn account as well as our Steel Market Update LinkedIn group account. I also received a question about the “average margin for a service center” that […]
Ternium announced today the purchase of 100 percent of Thyssenkrupp AG’s Brazilian steel mill CSA, Cia Siderúrgica do Atlantico SA. The sale is based on a September 30, 2016 valuation of EUR 1.5 billion (US$1.86 billion) that is subject to agreed adjustments at closing. Ternium expects to disburse EUR 1.26 billion ($1.33 billion) for the […]
On Friday of this past week AK Steel announced a $40 per ton ($2.00/cwt) spot base price increase on all the flat rolled products they produce: hot rolled, cold rolled and galvanized steels. On Monday morning, NLMK USA followed with the same $40 per ton announcement. We learned NLMK lead times are in February on […]
With all of the domestic steel mills announcing $30 per ton price increases either late last week or early this week, the industry is waiting to see if there was a surge of orders and how those orders have impacted lead times. Everyone knows if lead times begin to extend then buyers will have no […]
Thyssenkrupp AG is in negotiations to sell its Brazilian steel plant Companhia Siderúrgica do Atlântico (CSA) to Ternium SA. According to the Wall Street Journal, talks are at an advanced stage but may hit a stumbling block over price for the Brazilian operations. Thyssenkrupp spent $6.8 billion to build CSA but it is currently valued […]
Mexico announced it will enforce tariffs on imports of cold-rolled coil (CRC) from China with boron greater than or equal to 0.0008 percent. Antidumping duties will range between 65.99 percent and 103.41 percent. The Secretariat of Economy added the cold rolled steel with added boron to the existing antidumping duties on CRC after Altos Hornos […]
If things weren’t tight enough there have been a couple of accidents at steel mills, one in the United States (North Star BlueScope) and one in Brazil (CSN), which are impacting the domestic flat rolled steel order books. CSN (Brazil) Affecting Galvanized Markets About two weeks ago, CSN in Brazil had a breakout with their […]
If things weren’t tight enough there have been a couple of accidents at steel mills, one in the United States (North Star BlueScope) and one in Brazil (CSN), which are impacting the domestic flat rolled steel order books. CSN (Brazil) Affecting Galvanized Markets About two weeks ago, CSN in Brazil had a breakout with their […]
AISI, Salt Lake City, Utah – The Board of Directors of the American Iron and Steel Institute (AISI) has elected John Ferriola, chairman, president and CEO of Nucor Corporation, to serve as chairman of the Institute until May 2017. “John is a dedicated and outspoken advocate for our industry, and has engaged his employees and […]
Steel buyers were pulling out their hair earlier today due to the number of mills holding tons off the market as they try to determine what the new pricing should be on hot rolled, cold rolled, galvanized and Galvalume products. As of early this afternoon (Thursday) steel buyers were informing Steel Market Update of a […]
Recently, Steel Market Update produced an article regarding a discussion between Dan DiMicco, former CEO of Nucor and another one of our LinkedIn members who, in a past life, was responsible for buying foreign slabs for a domestic steel mill. Here is a small clip of that conversation: LinkedIn member: Of course I don’t imagine […]
Recently, Steel Market Update produced an article regarding a discussion between Dan DiMicco, former CEO of Nucor and another one of our LinkedIn members who, in a past life, was responsible for buying foreign slabs for a domestic steel mill. Here is a small clip of that conversation: LinkedIn member: Of course I don’t imagine […]
Mill lead times, especially on cold rolled and coated products, continue to be a concern as buyers navigate/negotiate pricing and deliveries on future orders. The longer the lead time the more steel that is needed in the pipeline at both manufacturing companies and distributors. The longer lead times provide ammunition to the domestic steel mills […]
Over the past few weeks Steel Market Update has been reviewing the lead times being published and/or provided to their customers in order to see if there are any significant changes. As a general statement we have found cold rolled and coated steels (galvanized, Galvalume, galvannealed) have extended lead times and are the tightest of […]
We are seeing a divergence in the normal spread between hot rolled lead times and those of cold rolled and coated products. Normally, we would see HRC lead times at just a couple of weeks less than that of the other “higher value” products. With the demise of the energy segment of the industry that […]
Spot lead times have begun to move out according to the lead time sheets shared with customers this week by their domestic mill suppliers. The most strength was seen in cold rolled and coated steels while hot rolled lead times remained stuck at 3-4 weeks in most cases. Steel buyers continue to prognosticate that there […]
Mexico will launch an antidumping probe on imports of Chinese cold-rolled flat coated steel. The investigation was prompted by a complaint by steelmakers Ternium Mexico and Tenigal which claimed the surge of imports between 2012 and April 2015 harmed domestic production. In October, Mexico instituted a 15 percent tariff on steel products from counties with […]
The Mexican government said it will impose import duties on cold-rolled steel from China following an antidumping investigation initiated by Altos Hornos de Mexico (AHMSA), Ternium and other Mexican steel companies. The Friday, June 19 decision will put tariffs of 65.99 percent imports on imports from Baoshan Iron & Steel Co Ltd and 82.08 percent […]
In a preliminary determination, the U.S. Department of Commerce found that Mexican steel pipe producer Productos Laminados de Monterrey sold pipe below normal value during the period of review, August 1, 2012 through July 31, 2013. Originally eight Mexican companies were reviewed by the DOC for possible dumping of circular welded non-alloy steel pipe into […]