After speaking with Platts on Friday – Mr. Surma of US Steel was correct in his call with analysts, there is one index which has hot rolled coil (Midwest) at $630 this week. A split has developed amongst the indexes as various price points have been gathered over the past week to ten days (depending […]
This will most likely be the last time Steel Market Update will use the table below. We will begin rolling out some new products in the coming days which are meant to replace and improve upon what we have been providing our members to date. We will go into more details on the changes soon. […]
As if the south is not already flooded with flat rolled steel mills, Arkansas Governor Mike Beebe and Big River Steel CEO John Correnti announced earlier today that if the bonds are approved by the Arkansas legislature a new $1 billion steel mill will be built in Arkansas. Details were lacking regarding the type of […]
Written by Sandy Williams United States Steel Corporation reported a net loss of $50 million for the fourth quarter of 2012 compared to net income of $44 million in the third quarter and a net loss of $211 million in fourth quarter 2011. Total earnings for the year 2012 showed a net loss of […]
As Steel Market Update (SMU) checked with various market sources after the AK Steel price announcement we found most of the industry expecting the other domestic steel mills to follow the AK Steel pricing lead. At the same time, most buyers expect the net result to be an end to the current slide in pricing […]
Written by: Sandy Williams Natural gas is providing cost savings for steel plants while at the same time creating more demand for steel products used in pipelines, drilling equipment and rigs. It is a win-win situation for the steel and the natural gas industries One of the ways natural gas is utilized by the steel […]
SMU has been asked about the status of the negotiations regarding the sale of the ThyssenKrupp Steel Americas assets. This includes ThyssenKrupp Steel USA and their sister facility in Brazil which produces slabs – CSA. We understand the due diligence process continues and a number of mills have been through both facilities. Based on SMU […]