Tag: US

Foreign cold-rolled (CR) coil remains much less expensive than domestic product even as domestic prices continue to decline, according to SMU’s latest check of the market.

Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.

Construction spending in the US in March was basically steady from the previous month but showed notable year-on-year (y/y) growth.

Olympic Steel logged lower earnings in the first quarter of 2024, but the company said all three of its segments contributed to profitability.

The sale of U.S. Steel Corp. to Nippon Steel Corp. has been delayed by the US Department of Justice’s antitrust investigation. The Justice Department, which is conducting an antitrust review of the merger, has requested additional information from both USS and NSC. The companies originally anticipated closing the sale in the second or third quarter […]

As we approach “buy week,” a term industry veterans use to refer to steel mill scrap buying time and an excuse to remain in the office, we have seen a variety of slants on the May market.

U.S. Steel posted slightly lower Q1’24 earnings as stronger earnings from its sheet mills were partially offset by a weaker performance from it tubular division. All told, the Pittsburgh-based steelmaker reported Q1’24 earnings of $171 million. That's down 14.1% from $199 million in Q1’23 on sales that fell 6.9% to $4.16 billion in the same comparison.

US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).

ArcelorMittal posted a narrower Q1’24 profit compared to Q1’23 but remained optimistic about steel's long-term demand prospects.

Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.

Russel Metals’ earnings fell in the first quarter, but the Toronto-based metals distributor sees steel prices stabilizing in the near term and staying above historical averages.

US hot-rolled (HR) coil price premium over offshore hot band has tightened on the back of lower domestic tags, though stateside HR coil remains markedly more expensive than imports.

The Index had briefly showed expansion in March, but has indicated a contracting manufacturing sector for 17 of the last 18 months.

Hold-rolled (HR) prices held roughly steady this week after slipping for much of April. I don’t have any spicy quotes to offer about mostly flat prices. Besides, a lot of the questions I’ve gotten recently have been about demand. Some of you tell me that it’s still stable or improving. Others tell me that it’s suddenly dried up.

Sheet prices were flat or moderately down again this week – underscoring the shift in momentum we’ve seen over the last month. The exception was hot-rolled (HR) coil, which was largely unchanged from last week.

United Auto Workers (UAW) members at a Stellantis plant in Michigan have health and safety grievances so severe they are considering going on strike.

The National Labor Relations Board (NLRB) has certified the results of the election of Volkswagen workers to join the United Auto Workers (UAW) union in Chattanooga, Tenn.

US raw steel production slipped again last week. It now stands at a 13-week low, according to the latest American Iron and Steel Institute (AISI) data. AISI estimated total domestic steel output estimated to have been 1,701,000 short tons (st) in the week ending April 27. That's down 0.9% compared to the week prior.

An important economic indicator for the nonresidential construction industry declined in March to its lowest point in more than three years.

Daimler Truck North America and the United Auto Workers (UAW) union have reached tentative bargaining agreements covering over 7,000 US workers at various locations in the South.

Latest AA extrusion shipment report shows persistently weak demand The US Aluminum Association released its latest shipment report for extruded products. According to the report, shipments in March 2024 totaled 383.2 million pounds, representing a drop of 10.6% y/y but a rise of 4.5% m/m. For the YTD period through March, total shipments are now […]

Solar tracker maker Nextracker and steel processor JM Steel announced the completion of an expansion of Nextracker-dedicated manufacturing lines at JM’s Leetsdale steel facility near Pittsburgh.

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its June order book. The Charlotte, N.C.-based steelmaker said in a letter to customers on Monday, April 29, that tags would be lowered by $90 per short ton (st). That would bring its base price to roughly $1,200/st.

What a difference a month makes. In late March, it seemed like the US hot-rolled (HR) coil market was poised to cycle upward. Large buyers had re-entered the market and placed big orders earlier in the month. Several outages were underway or upcoming. And expectations were that lead times would continue to extend. Cliffs said […]

Cleveland-Cliffs Inc. would still be interested in acquiring some or all of U.S. Steel’s assets, if the proposed deal by Nippon Steel stumbles, according to an article in Bloomberg.

The number of active rigs in the US is now at the lowest level seen in over two years, while Canadian rigs have fallen to a four-month low.

Constellium reported its latest quarterly results for Q1'24. Adjusted Ebitda came in at €137 million (USD$147 million), down 8.6% year over year (y/y) amid revenue of €1.7 billion (USD$1.8 billion), down 12% y/y. Shipments totalled 380,000 metric tons (mt) in Q1, representing a drop of 2% y/y.

Foreign cold-rolled (CR) coil remains much less expensive than domestic product, according to SMU’s latest check of the market.

SMU’s Steel Buyers’ Sentiment Indices both rose this week to reach some of the highest levels seen this year.

If successful in its overtures to Anglo American, BHP will create the world’s largest diversified miner by a country mile. The rationale for this merger is scale and in mining, size matters.