Steel Blog: "Steel Prices, News and Analysis" > Official Blog of STEEL MARKET UPDATEen-usjohn@steelmarketupdate.comOfficial Blog of the STEEL MARKET UPDATE where you can interact with steel manufacturers, distributors, toll processors, trading companies, analysts and mills.http://www.steelmarketupdate.com/modules/blog/content/Tue, 07 Feb 2012 01:35:48 -0500john@steelmarketupdate.com http://blogs.law.harvard.edu/tech/rss SMU Price Momentum Indicator Adjusted to "Lower" from "Neutral" <p>Steel Market Update has adjusted our SMU Price Momentum Indicator to "Lower" from "Neutral". Our expectation is flat rolled steel prices (hot rolled, cold rolled, galvanized and Galvalume) will move lower over the next 30-60 days<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1329"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1329 Mon, 06 Feb 2012 18:58:57 -0500 SMU Discusses Factors Affecting Flat Rolled Steel Prices <p>One of the most difficult challenges Steel Market Update has is with our Price Momentum Indicator. There has to be a balance between keeping buyers appraised of changes in the market dynamic without becoming a<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1328"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1328 Mon, 06 Feb 2012 12:20:27 -0500 Construction Employment Reaches Two-Year High In January <p>Employment did better than expected as the unemployment rate dropped from 8.5% in December to 8.3% in January as construction employment rose by 21,000 jobs. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1327"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1327 Fri, 03 Feb 2012 19:33:20 -0500 Factory Orders Up For December <p>New orders for manufactured goods in December were up 1.1% to $466.2 billion for the second month in a row. Shipments continued increasing for the seventh month, up<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1326"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1326 Fri, 03 Feb 2012 19:07:38 -0500 SMU Steel Buyers Sentiment Index Slips to +43 <p>Buyers and sellers of flat rolled steel in North America remain positive about their company’s ability to be successful in the current market environment. The latest SMU Steel Buyers Sentiment Index is +43 down 6 points from the +49 reported during the middle of January 2012. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1325"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1325 Fri, 03 Feb 2012 12:17:48 -0500 Hot Rolled Futures Trading Sets Record During January 2012 <p>The CME Group sent me an email advising SMU that the group had set a record volume for hot rolled steel coil futures (HRC) during the month of January with 6,214 contracts (20 tons per contract = 124,280 short tons). The previous record was set in November 2011 with 5,205 contracts (104,100 short tons)<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1324"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1324 Thu, 02 Feb 2012 19:04:18 -0500 Steel Market Update: Tonights Newsletter will Cover Our Latest Survey <p>Steel Market Update has been in the process of collecting data from flat rolled steel buyers and sellers over the past few days. This is the first of two steel market surveys we conduct during the month of February<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1323"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1323 Thu, 02 Feb 2012 15:09:44 -0500 US Steel Says No to Hamilton Blast Furnace Restart <p>US Steel Mills Running at 90% Capacity – Hamilton Furnace Will Not Restart </p> <p>John Surma Says No Need to Restart Hamilton Until Economy Gets Better</p> <p>During the U.S. Steel earnings conference call with analysts held earlier this week, CEO John Surma in response to a question <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1322"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1322 Thu, 02 Feb 2012 14:46:09 -0500 Canada's Manufacturing Index Expands For January <p>Production and new orders increased for Canada in January, according to the Royal Bank of Canada’s manufacturing index. This survey is an indicator of manufacturing conditions with any score over 50.0 indicating expansion.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1321"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1321 Thu, 02 Feb 2012 12:59:13 -0500 Metal Fabricator McKey Is Acquired By Reliance Steel Unit <p>Reliance Steel & Aluminum Co. has announced its subsidiary Diamond Manufacturing Company has acquired McKey Perforating Co., Inc. McKey, with 2011 net sales <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1320"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1320 Thu, 02 Feb 2012 12:33:22 -0500 Construction Spending Disappoints For 2011 <p>Construction employment is up for December 2011, increasing in 148 out of 337 metro areas from December 2010. However, employment decreased in 128 and stayed level in 61 areas. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1319"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1319 Wed, 01 Feb 2012 19:53:57 -0500 ISM Reports Manufacturing Sector Expanding <p>Economic activity in the manufacturing sector expanded in January for the 30th consecutive month growing at a faster rate,<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1318"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1318 Wed, 01 Feb 2012 18:40:39 -0500 Steel Market Update Provides Flat Rolled Steel Prices, Indexes, & Analysis <p>Steel Market Update published our latest newsletter about the flat rolled steel industry last night. Tuesday evening issues are important to our readers as they contain our flat rolled price ranges and indexes on hot rolled, cold rolled, galvanized and Galvalume steels. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1317"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1317 Wed, 01 Feb 2012 15:35:01 -0500 Consumer Confidence In Business Conditions Drops <p>The Consumer Confidence Index declined in January to 61.1, down 3.7 points from December. Current and future indexes for consumer confidence <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1316"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1316 Tue, 31 Jan 2012 17:39:22 -0500 S&P/Case-Shiller Index Indicates Falling Home Prices <p>The S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, posted declines of 1.3`% for both the 10- and 20-City Composites in November over October. Annually, both composite indexes were down as well.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1315"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1315 Tue, 31 Jan 2012 17:30:17 -0500 Chicago PMI For January Points To Weakening Economy <p>The Chicago Purchasing Managers reported the Chicago Business Barometer softened for January even as the index expanded for the 28th month.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1314"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1314 Tue, 31 Jan 2012 17:05:23 -0500 US Steel Expects Higher Flat Rolled Steel Prices & Shipments <p>United States Steel Corporation reported fourth quarter 2011 earnings with a net loss of $226 million compared to a previous positive quarter. However, the quarter was <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1313"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1313 Tue, 31 Jan 2012 14:12:22 -0500 ABB To Acquire Thomas & Betts For $3.9 Billion <p>ABB and Thomas & Betts Corporation have announced that ABB will acquire Thomas & Betts for $72 per share, approximately $3.9 billion. This price is a 24% premium compared to Thomas & Betts’ closing stock price on Jan. 27, 2012. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1312"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1312 Mon, 30 Jan 2012 22:06:32 -0500 U.S. Steel to Sell Serbia Plant to Government of Serbia <p>PITTSBURGH, Jan. 30, 2012 /PRNewswire-FirstCall/ -- United States Steel Corporation (NYSE: X) announced a plan for the sale of U. S. Steel Serbia d.o.o. to the Republic of Serbia for a nominal purchase price, subject to finalization and execution of definitive agreements<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1311"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1311 Mon, 30 Jan 2012 20:17:21 -0500 SMU Discusses Scrap Prices For February, Flat Rolled Steel Prices, & Steel Mill Updates <p>Those involved in the flat rolled steel market know steel prices are often affected by scrap prices, both domestic and the export markets. In last night’s newsletter, SMU writes about scrap prices in North America and what we expect to occur as we move into early February. SMU has a constant dialogue with dealers and others associated with the industry from around the country as we gauge current scrap prices as well as what is anticipated in the coming months<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1310"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1310 Mon, 30 Jan 2012 16:48:53 -0500 Hot Rolled Forward Curve, Nucor Expansion & Other Topics Covered by SMU Newsletter <p>Flat rolled steel buyers around the country are viewing the Hot Rolled Futures market and the Forward Curve with much more than a passing interest these days. As a service to the industry, Steel Market Update in conjunction with Andre Marshall (CEO of Crunch Risk) and Joseph Reinmann (CEO of Kataman Metals) produce a weekly review of the HR Futures, Billet, Scrap and other financial derivatives markets<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1309"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1309 Fri, 27 Jan 2012 18:09:37 -0500 Hot Rolled Futures: Island Under Attack <p>&nbsp;</p> <p>Written by Andre Marshall CEO <a href="http://steelmarketupdate.us1.list-manage.com/track/click?u=35b015e235dda67d30364be14&amp;id=9459ee1c96&amp;e=4c94203f76"><b><span>Crunch Risk</span></b></a>, LLC<br /> <br /> <u>Financial Markets:</u><br /> <br /> The big news in the financial markets occurred yesterday when the Fed stated that they foresaw an extended period of slow economy and therefore low interest rates<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1308"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1308 Fri, 27 Jan 2012 16:03:35 -0500 Nucor Beats Estimates With Positive Net Earnings And Sales <p>Nucor Corporation announced better than expected financial earnings for fourth quarter 2011. The company reported net earnings of $137.1 million<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1307"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1307 Thu, 26 Jan 2012 15:58:37 -0500 New Home Sales Down Monthly And Annually <p>New home sales for December were 2.2% below the previous month at an annualized pace of 307,000. </p> <p>This pace is 7.3% below the<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1306"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1306 Thu, 26 Jan 2012 15:56:04 -0500 Jobless Claims Down & Inflation Calming In Canada And U.S. <p>There seems to be positive news for the unemployed as U.S. initial jobless claims for the latest week, ending January 14, were the lowest number since fall 2008. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1305"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1305 Thu, 26 Jan 2012 13:20:38 -0500 Essar Steel Minnesota “No Slab Making Until at Least 2015” <p>Steel Market Update spoke with Steve Rutherford, Project Director of Essar Steel Minnesota, regarding the status of the Essar Steel Minnesota project. </p><a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1304"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1304 Wed, 25 Jan 2012 20:07:55 -0500 SMU Covers Latest Flat Rolled Steel Pricing, Indexes, Mill Updates, Etc. <p>In the latest Steel Market Update newsletter sent out to all our members and free trials Tuesday night, we discussed the mixed messages being sent regarding market strength and pricing in the North American flat rolled steel market. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1303"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1303 Wed, 25 Jan 2012 13:51:01 -0500 Steel Dynamics Reports Strong Fourth Quarter Results <p>Steel Dynamics, Inc. announced a positive fourth quarter 2011 with financial results that were considerably better than the prior year’s fourth quarter. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1302"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1302 Wed, 25 Jan 2012 13:13:25 -0500 Steel Market Update Price Momentum Indicator Moved to Neutral from Higher <p>On Tuesday, Steel Market Update adjusted our SMU Price Momentum Indicator to “Neutral” from Higher. The change to Neutral means flat rolled steel buyers need to watch the flat rolled steel market closely for signals of a change in the pricing cycle. Since early November 2011 flat rolled steel prices – which includes hot rolled, cold rolled, galvanized and Galvalume steels – have been rising<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1301"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1301 Wed, 25 Jan 2012 06:38:56 -0500 AK Steel Reports $194 Million Loss For 4th Quarter <p>AK Steel reported its fourth quarter 2011 results, with a net loss of $193.9 million compared to a net loss of $98.3 million 4Q10. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1300"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1300 Tue, 24 Jan 2012 16:35:11 -0500 Marmon Keystone Birmingham Branch “Totaled” by Storm <p>Steel Market Update has learned the 100,000 square foot warehouse facility operated by pipe & tube distributor Marmon Keystone was “totaled” due to a severe storm which struck the Birmingham, Alabama area on Monday morning.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1299"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1299 Tue, 24 Jan 2012 14:23:39 -0500 Can the Newly Restarted Sparrows Point Mill Succeed? <p>The question on everyone’s mind is now that RG Steel has restarted the “L” blast furnace at Sparrows Point can the plant ultimately succeed or, did the shutdown of the hot end of the mill do irreparable damage to the company’s customer base?</p><a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1298"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1298 Mon, 23 Jan 2012 18:03:19 -0500 Steel Market Update Survey Results in Latest Newsletter <p>Last week’s SMU Steel Market Survey was one of the key ingredients in the most recent issue of the Steel Market Update newsletter published earlier today. One of the areas of primary importance to those involved in the flat rolled steel industry is the subject of steel pricing and trends which are associated with flat rolled steel pricing<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1297"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1297 Mon, 23 Jan 2012 16:42:55 -0500 Hot Rolled Coil Options – What are Calls & Puts <p>Written by: Andre Marshall, CEO Crunch Risk, LLC </p> <p>The CME has decided to list options on Hot Rolled Coil Futures. What does this mean for you. Well, Options (Calls and Puts) will provide you the opportunity to put on protections in the markets at certain levels in exchange for <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1296"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1296 Fri, 20 Jan 2012 22:05:27 -0500 Steel Market Update Industry Newsletter Reporting on SMU Survey Results & Other Industry News <p>In Steel Market Update’s latest issue, we gave SMU members the update on the flat rolled steel market in North America. It’s been a busy first of the year with a lot going on in the steel industry. SMU reported on the various steel mills changing their prices, analyzing whether the other mills will follow suit or keep at their current pricing position. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1295"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1295 Fri, 20 Jan 2012 17:14:14 -0500 Hot Rolled Futures Decline as Selling Pressures Mount <p>Written by: Joseph Reinmann, CEO Kataman Metals</p> <p>In last week’s issue of Steel Market Update, we informed SMU members that Hot Rolled Coil (HRC) futures prices on the CME were on the verge of topping out and reversing course. And that is exactly what happened this week. </p> <p>HRC prices on the CME fell by an average <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1294"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1294 Fri, 20 Jan 2012 11:15:43 -0500 SMU Steel Buyers Sentiment Index Continues to Set New Highs <p> <p><u>Both Current &amp; Future Sentiment at Record Highs</u><br /> <br /> Buyers and Sellers of flat rolled steel continue to remain optimistic about both the short-term and longer-term future of the steel industry and their company&rsquo;s ability to be successful both now and in the future. According to the results of our latest Steel Survey the Steel Market Update Steel Buyers Sentiment Index was measured at +49 setting a new record high for our Index. <br /><a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1293"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1293 Fri, 20 Jan 2012 11:09:21 -0500 Rumor out of Europe is for ThyssenKrupp AG to Sell Brazil & USA Plants <p>SMU Sources Advise Bloomberg Report is “Only Speculation” </p> <p>In a Bloomberg news report published earlier today (Thursday), speculation is flying in Europe and Brazil over the potential that ThyssenKrupp AG, the parent company of ThyssenKrupp Steel USA and ThyssenKrupp Americas (which includes USA and Brazil), may sell their Brazil and USA plants<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1292"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1292 Thu, 19 Jan 2012 19:02:30 -0500 Steel Market Update On The Flat Rolled Steel Market <p>Steel Market Update will publish our newsletter later this evening for those who are registered members and our free trial members. The flat rolled steel market has been quite active over the past few days and Steel Market Update has been speaking directly with buyers and sellers of steel and we are conducting one of our bi-monthly Steel Market Surveys this week as well.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1291"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1291 Thu, 19 Jan 2012 16:56:55 -0500 Manufacturing Conditions Continue To Improve <p>According to the January Business Outlook Survey, regional manufacturing activity expanded as all the broad indicators remained positive.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1290"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1290 Thu, 19 Jan 2012 16:43:21 -0500 Housing Starts Drop In December, Permits Stay Steady <p>New residential construction had some pitfalls in December as housing starts dropped 4.1% from November’s surprisingly strong 9.1% increase. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1289"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1289 Thu, 19 Jan 2012 16:20:13 -0500 Canada's Consumer Confidence In The Economy Falls In December <p>According to the Conference Board in Canada’s most recent survey, the Index of Consumer Confidence fell 6.5% in December. For December,<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1288"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1288 Thu, 19 Jan 2012 14:02:33 -0500 RG Steel Acknowledges New Capital Investment from Cerberus Capital Management <p>Steel maker RG Steel acknowledged late today their relationship with Cerberus Capital Management which is providing liquidity (cash) so that the company can restart the Sparrows Point blast furnace and to "execute its business strategy<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1287"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1287 Thu, 19 Jan 2012 00:08:45 -0500 Steel Market Update Newsletter Reports on Flat Rolled Steel Prices & More <p>For those who are interested in hot rolled, cold rolled, galvanized and Galvalume steel prices – our last edition of the Steel Market Update newsletter did an analysis of the flat rolled steel prices. Steel Market Update covers not only flat rolled steel price indexes but we are the only publication which produces the range of pricing (high to low) being transacted in the market on a weekly basis<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1286"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1286 Wed, 18 Jan 2012 20:45:49 -0500 RG Steel Officially Announces Restart of Sparrows Point "L" Blast Furnace <p>RG Steel finally came out with a press release on the status of the "L" furnace at their Sparrows Point facility. The "L" furnace, also called "The Beast of the East" was idled by RG Steel two days before Christmas<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1285"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1285 Tue, 17 Jan 2012 21:57:42 -0500 Empire State MFG Survey Indicates Expansion For January <p>The January Empire State Manufacturing Survey indicates that manufacturing activity expanded in the New York FED region since the last survey. The general business conditions index was up 5 points to <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1284"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1284 Tue, 17 Jan 2012 14:27:10 -0500 U.S. Steel Mon Valley has Fire in HR Pickle Line <p>Yesterday [Jan. 15, 2012], around noon a fire occurred at Mon Valley Works’ Irvin Plant in the facility’s 84-inch Pickle Line [where flat-rolled – or sheet – steel goes through an acid treatment to prepare the surface for further finishing applications]. All individuals in the area were safely evacuated and accounted for and no injuries were reported. The fire was extinguished at approximately 2:30 p.m. by U. S. Steel personnel, including its own hazmat team, with assistance from the West Mifflin Fire Department<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1283"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1283 Mon, 16 Jan 2012 15:10:12 -0500 Steel Market Update Provides Information about Flat Rolled Steel Industry <p>Steel Market Update publishes a newsletter about the flat rolled steel industry which is sent to our members (and trial members) three times per week. Our latest newsletter was published earlier this morning and contained information about the restart of the “L” furnace at RG Steel Sparrows Point as well as the following articles<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1282"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1282 Mon, 16 Jan 2012 14:49:10 -0500 Severstal Announces Price Increase on Hot Rolled, Cold Rolled & Galvanized Steels <p>In last night’s Steel Market Update newsletter, we had predicted a price increase announcement out of the domestic steel mills was imminent and could come out of one of the mills as early as this morning.</p> <p>In a letter to their customers dated, January 13, 2012 Severstal announced a flat rolled price increase<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1281"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1281 Fri, 13 Jan 2012 15:42:15 -0500 RG Steel Sparrows Point Blast Furnace Coming Back to Life? <p>The <a href="http://www.baltimorebrew.com/2012/01/13/brew-exclusive-some-sparrows-point-employees-told-to-return-to-work/">Baltimore Brew</a> reported this morning 250 workers associated with the steel making side of the RG Steel Sparrows Point plant have been asked to report to work. At the same time, Steel Market Update learned this morning that scrap which had been purchased by Sparrows Point prior to the idling of the “L” blast furnace has been released for shipment to Sparrows Point starting on Tuesday of next week<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1280"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1280 Fri, 13 Jan 2012 15:24:17 -0500 Hot Rolled Futures Inch Up Slightly; Are we Topping Out? <p>&nbsp;</p> <p style="margin-bottom:20.0pt;text-align:justify"><span style="font-size:10.0pt;font-family:">Written by: Joseph Reinmann, CEO <a href="http://steelmarketupdate.us1.list-manage.com/track/click?u=35b015e235dda67d30364be14&amp;id=fe7a85f919&amp;e=4c94203f76"><b><span style="color:#223A7B">Kataman Metals</span></b></a><br /> <br /> Hot Rolled Coil (HRC) futures prices on the CME seem to be on the edge of topping out this week. The first half of 2012 was up $4 per ton and the second half of 2012 was flat. The HRC futures market seems to be expecting prices to<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1279"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1279 Fri, 13 Jan 2012 11:18:20 -0500 Australia's Cyclone Hits Iron Ore Ports, Closing Operations <p>Australia’s Port Hedland was closed early Wednesday by the threat of tropical cyclone Heidi along with other large iron ore export terminals. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1278"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1278 Thu, 12 Jan 2012 20:48:48 -0500 Rhino Steel Building Systems Shuts Down Framing Division <p>As of January 9th, 2012, Rhino Steel Building Systems, provider of pre-engineered and custom steel buildings,<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1277"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1277 Thu, 12 Jan 2012 14:39:56 -0500 ArcelorMittal to Restart Cleveland West Steelmaking Operations <p>In an email to their customers released late this afternoon, ArcelorMittal announced it would be restarting the Cleveland West steelmaking operations. The anticipated date of restart is early in the 2nd Quarter 2012<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1276"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1276 Wed, 11 Jan 2012 21:39:27 -0500 Esmark Steel Names Steel Veteran As New President <p>Esmark Steel Group, the steel services subsidiary of diversified holding company Esmark Inc., today announced that steel industry veteran Peter Doyle has been named<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1275"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1275 Wed, 11 Jan 2012 20:40:25 -0500 SMU Newsletter Covers Latest Steel Mill Pricing, Analysis, & Scrap Updates <p>In the latest Steel Market Update newsletter sent out Tuesday night to our annual members and free trials, SMU covered price ranges and indexes for hot rolled, cold rolled, galvanized and Galvalume coils. Lead times for each product are given along with a three month chart to show the direction of flat rolled prices. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1274"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1274 Wed, 11 Jan 2012 13:03:42 -0500 Severstal Looking to Trinidad & Tobago for DRI Site <p>Severstal North America just released the following press release:</p><p>DEARBORN, Mich. January 10, 2012 – Severstal North America, one of the largest US-based steel producers and a wholly-owned subsidiary of OAO Severstal, one of the world’s<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1273"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1273 Tue, 10 Jan 2012 17:17:17 -0500 RG Steel Update: Rumors Flying <p>There are rumors swirling of a cash infusion into RG Steel which could restart the "L" blast furnace at Sparrows Point. The steel making end of Sparrows Point has been in hot idle since December 23rd<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1272"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1272 Mon, 09 Jan 2012 19:23:20 -0500 Severstal North America's New Galvanizing Line Begins Production <p>Severstal North America put out the following press release on its new galvanizing line. </p><p>DEARBORN, Mich. January 9, 2012 – Today, Severstal North America, one of the largest U.S.-basedsteel producers specializing in the full range of the high quality, light, flat-rolled products,<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1271"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1271 Mon, 09 Jan 2012 17:28:45 -0500 CME Hot Rolled Futures Higher; but LME Billet Declines <p><!--[if !mso]> <style> v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} </style> <![endif]--><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves /> <w:TrackFormatting /> <w:PunctuationKerning /> <w:ValidateAgainstSchemas /> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF /> 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mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} </style> <![endif]--></p> <p class="MsoNormal" style="margin-bottom:20.0pt;text-align:justify"><span style="font-size:10.0pt;font-family:">Written by: Joseph P. Reinmann, CEO of <a href="http://steelmarketupdate.us1.list-manage1.com/track/click?u=35b015e235dda67d30364be14&amp;id=fadd0c12d3&amp;e=4c94203f76"><b><span style="color:#223A7B">Kataman Metals</span></b></a><br /> <br /> I would like to wish all of the SMU members a happy and prosperous New Year.&nbsp; <br /> <br /> Hot Rolled Coil (HRC) futures prices on the CME continued to head higher this week increasing $11 per ton for the first half of 2012.&nbsp; But for the second half of 2012 the futures were flat.&nbsp;<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1270"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1270 Mon, 09 Jan 2012 17:11:55 -0500 SMU's Latest Newsletter Covers Scrap Prices, Flat Rolled Steel Prices & Market Analysis, Steel Mills, Etc. <p>Steel Market Update’s latest newsletter sent out Sunday night to its members and free trials discussed the direction of scrap prices, domestic steel mills’ financials, and SMU Comparison Price Indexes for hot rolled, cold rolled, galvanized and Galvalume steel products. Scrap prices for the previous month were discussed and analyzed with updated prices given for shredded, pig iron, #1 busheling, and #1 Heavy Melt Scrap.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1269"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1269 Mon, 09 Jan 2012 12:48:18 -0500 Current Steel Buyers Sentiment Rises +9 Points to +41 <p>Current Steel Buyers Sentiment</p><p>Steel Market Update (SMU) Steel Buyers Sentiment Index rose +9 points since the middle of December and is now at +41 the highest level recorded since the index began in November 2008.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1268"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1268 Fri, 06 Jan 2012 12:47:59 -0500 Steel Market Update Discusses Latest Flat Rolled Steel Prices <p>In Steel Market Update’s latest newsletter sent to our annual and free trial members, SMU covered the most recent flat rolled steel prices and analysis on the North American steel market, including important updates on domestic steel mills. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1267"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1267 Fri, 06 Jan 2012 12:37:58 -0500 Nucor To Close Its Nuconsteel Division <p>Nucor Corporation is closing its Nuconsteel division in spring 2012 and getting out of the fabricating light gauge steel framing industry <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1266"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1266 Thu, 05 Jan 2012 18:55:55 -0500 2011 U.S. Auto Sales Best Since 2008 <p>Auto sales soared in December as pent-up demand and holiday promotions helped increase sales. This makes 2011 the best U.S. auto industry’s best year <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1265"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1265 Wed, 04 Jan 2012 20:34:16 -0500 Countervailing Duties and Non-Market Economies <p>Written by: Peter Brebach, CEO Iron Angels of Colorado </p> <p>Many of you probably saw the recent brouhaha over a decision by the US Court of Appeals for the Federal Circuit, which confirmed that it is illegal for the US to slap countervailing duties on imports from so-called non-market economies <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1264"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1264 Wed, 04 Jan 2012 20:30:14 -0500 Worthington Industries Acquires Angus Industries For $180 Million Cash <p>Worthington Industries has announced it acquired Angus Industries for $180 million in cash. Angus, based in Watertown, S.D.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1263"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1263 Wed, 04 Jan 2012 19:20:20 -0500 Marmon/Keystone Appoints Four New Regional Vice Presidents <p>Marmon/Keystone has appointed four regional vice presidents, who are already active in their new positions. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1262"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1262 Wed, 04 Jan 2012 12:56:04 -0500 RG Steel Provides Information Regarding Their Steel Mill Operations <p>Late this afternoon, RG Steel sent a letter to their customers advising them of the decision to take down the "L" blast furnace at Sparrows Point and to idle a number of pieces of finishing equipment during the Holidays. Even though the company has published all of their mill lead times as "Inquire" their letter explains the Warren and Wheeling operations are "largely unaffected" by the "situation" at Sparrows Point<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1261"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1261 Wed, 04 Jan 2012 02:06:26 -0500 Construction Spending Up 1.2% In November <p>Construction spending during November 2011 was up 1.2% to an annual rate of $807.1 billion from October’s revised $797.4 billion. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1260"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1260 Tue, 03 Jan 2012 17:48:23 -0500 ISM Manufacturing Index Signals Economic Expansion In The Manufacturing Sector For 29 Months <p>According to the ISM Manufacturing Index for December, economic activity in the manufacturing sector expanded to a PMI of 53.9%,<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1259"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1259 Tue, 03 Jan 2012 17:33:43 -0500 Last Day For Steel Market Update Holiday Offer <p>Tuesday, January 3, 2012 is the last day to take advantage of our buy one year get 14 months membership offer to the Steel Market Update newsletter and website. This includes our newsletter and private access to our website.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1258"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1258 Tue, 03 Jan 2012 13:44:13 -0500 Steel Market Update Offers Incentives to Join <p>Steel Market Update has an offer to those who are interested in receiving our newsletter on a regular basis. We are offering, for a limited time, a 14 month membership at the price of a one-year membership.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1257"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1257 Fri, 30 Dec 2011 15:05:50 -0500 RG Steel Finishing Operations to be in Production Next Week <p>According to Steel Market Update sources, the news out of RG Steel Sparrows Point is looking a little brighter as we move into the post New Year production schedule. There have been rumors floating around the mill that the mill may not run parts of or any of their finishing mills next week. Our sources are advising SMU this is not the case and everything but the “L” blast furnace, BOF’s and Casters (steel making end of the mill) will be in operation next week<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1256"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1256 Fri, 30 Dec 2011 02:40:38 -0500 SteelBenchmarker International Prices <p>SteelBenchmarker, a World Steel Dynamics company, reports on world and domestic pricing from their perspective twice per month. They provided SMU their latest pricing which was published earlier this week.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1255"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1255 Thu, 29 Dec 2011 20:21:24 -0500 Chicago PMI Expands For 27th Month <p>The Chicago Purchasing Managers Business Barometer for December marked the 27th month of expansion at an index of<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1254"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1254 Thu, 29 Dec 2011 16:34:05 -0500 Pending Home Sales Highest In 19 Months <p>Pending home sales increased 7.3% in November from the previous month to reach the highest level in 19 months at an index of 100.1. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1253"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1253 Thu, 29 Dec 2011 15:35:04 -0500 Jobless Claims Up 15,000 This Week <p>Jobless claims for the week ending December 24th were 381,000, up 15,000 from the previous week. T<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1251"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1251 Thu, 29 Dec 2011 14:56:07 -0500 Construction Employment Falls, Expecting Further Declines For 2012 <p>From last November to November 2011, construction employment declined in 146 out of 337 metropolitan areas. However, <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1250"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1250 Wed, 28 Dec 2011 16:10:02 -0500 RG Steel Reported to be Laying Off 720 Workers <p>The <a href="http://www.baltimorebrew.com/2011/12/27/state-sets-up-phone-line-to-handle-claims-of-laid-off-sparrows-workers/">Baltimore Brew</a> and <a href="http://www.baltimoresun.com/news/breaking/bs-bz-sparrows-warn-20111228,0,3787424.story">Baltimore Sun</a> reported this evening the Maryland Department of Labor, Licensing and Regulation (DLLR) has set up a dedicated phone line in order to handle the overflow of phone calls related to the layoffs at RG Steel Sparrows Point. According to the Baltimore Sun the company has submitted a list of 720 workers to be laid off of the more than 2,000 unionized workers at the Sparrows Point facility. The workers are reported to be laid off until at least March 4th<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1249"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1249 Wed, 28 Dec 2011 04:02:06 -0500 Last Week's Estimated Raw Steel Production <p>The American Iron &amp; Steel Institute (AISI) reported their estimated raw steel production data for the week ending December 24, 2011. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1248"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1248 Tue, 27 Dec 2011 19:53:56 -0500 SMU Reader Comments Regarding RG Steel Sparrows Point shut down <p>Steel Market Update received the following comment regarding the shut down of steel making operations at RG Steel Sparrows Point (SP) late last week. The comment was received through one of our LinkedIn contacts and this is what they had to say:</p> <p>"It is certainly no surprise to see that RG has been forced to shut down SP due to cash shortages. The supply base apparently is rife with frustrated vendors who have shut them off<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1247"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1247 Mon, 26 Dec 2011 16:24:31 -0500 RG Steel Sparrows Point Flat Rolled Steelmaking Update <p>RG Steel Sparrows Point steel making operations are not operating at this time. Our sources tell Steel Market Update (SMU) the “L” blast furnace went down for maintenance earlier this week and has not restarted. Comments from the local press indicate the furnace is being “banked” which means steel making operations have ceased at the mill<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1246"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1246 Sat, 24 Dec 2011 06:20:50 -0500 RG Steel Suspends Steelmaking Operations At Sparrows Point <p>RG Steel has suspended steelmaking operations at Sparrows Point, according to <a href="http://www.baltimorebrew.com/2011/12/23/brew-exclusive-steelmaking-has-been-suspended-at-sparrows-point/#comment-27288">The Brew</a>. The <a href="http://www.baltimorebrew.com/2011/12/23/brew-exclusive-steelmaking-has-been-suspended-at-sparrows-point/#comment-27288">article</a> says “liquidity issues,” are the reason. Below is The Brew’s article: The primary, or steelmaking, side of the plant is being idled <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1245"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1245 Fri, 23 Dec 2011 19:27:47 -0500 New Home Sales Up For November While Prices Are Down <p>New home sales in November 2011 were up 1.6% from the previous month at an annualized pace of 315,000. This pace was 9.8% higher than<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1244"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1244 Fri, 23 Dec 2011 16:14:11 -0500 Durable Goods New Orders Up 3.8% <p>Durable goods new orders in November have increased again, this time up 3.8% to <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1243"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1243 Fri, 23 Dec 2011 15:48:40 -0500 Steel Market Update's Newsletter Discusses Steel Mill Price Increases, Coating Extras, & Industry News <p>In Steel Market Update’s latest newsletter covering the flat rolled steel markets in North America, we informed our trial and annual members of the latest price <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1242"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1242 Thu, 22 Dec 2011 21:51:00 -0500 ArcelorMittal Revises Coating Extras On Flat Rolled Steel Products <p>Steel Market Update has just been advised that ArcelorMittal has changed their coating extras on their flat rolled products.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1241"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1241 Wed, 21 Dec 2011 20:39:14 -0500 Steel Market Update Newsletter Covers Flat Rolled Steel Pricing, News, & Analysis <p>In the latest Steel Market Update newsletter sent out last night to all our trial and annual members, we included articles discussing the current conditions and prices in the flat rolled steel market. One article in particular<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1240"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1240 Wed, 21 Dec 2011 17:22:38 -0500 Existing Home Sales Up 12% For November <p>Existing-home sales are on the rise again in November, up 4% to an annual rate of 4.42 million. This pace is 12.2% above the 3.94 <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1239"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1239 Wed, 21 Dec 2011 16:24:32 -0500 Canada's Home Starts Low For October <p>Home starts in Canada fell to levels not seen since February 2011, at 181,100 units in November. This pace is also much lower from 208,800 <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1238"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1238 Wed, 21 Dec 2011 16:22:51 -0500 Lakeside Steel Receives Offer From Unknown Buyer For $77.5 Million <p>Welland-based Lakeside Steel Inc., has recently announced it has signed a letter of intent to sell itself for $77.5 million or $0.40 per share<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1237"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1237 Wed, 21 Dec 2011 15:06:14 -0500 AK Steel Announces $50/ton Flat Rolled Price Increase <p>Flat rolled steel producer, AK Steel, on Monday announced a $50 per ton ($2.50/cwt) price increase on all hot rolled, cold rolled and galvanized steel products. The increase is to be added to their previous increases effective "immediately<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1236"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1236 Wed, 21 Dec 2011 05:30:01 -0500 CMC Urges Stockholders To Reject Unsolicited Offer & Releases Guidance To First Quarter Results <p>After receiving an unsolicited proposal from IEP Metals Sub LLC, Commercial Metals Company is unanimously recommending that company stockholders reject the current offer. Carl Icahn was the one to propose the offer, trying to acquire <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1235"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1235 Tue, 20 Dec 2011 21:28:50 -0500 Mid-West Materials Holds Ceremony For New Leveler Facility <p>Mid-West Materials, Inc.’s CEO Brian Robbins recently introduced the company’s new Leveltek Stretch Leveling System <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1234"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1234 Tue, 20 Dec 2011 21:06:32 -0500 Housing Starts & Permits On The Rise For November <p>Housing starts and permits saw gains for November, while housing completions dropped off month-over-mont. Building permits for <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1233"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1233 Tue, 20 Dec 2011 16:24:01 -0500 Schnitzer Steel Industries Provides First Quarter Guidance <p>Schnitzer Steel Industries, Inc. has provided guidance on their upcoming first quarter 2012 results, which ended on November 30, 2011. <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1232"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1232 Tue, 20 Dec 2011 15:28:13 -0500 Steel Market Update Releases Survey Results <p>Steel Market Update (SMU) conducted its second steel market survey for the month of December. SMU invites close to 800 companies to participate in a survey about the flat rolled steel industry in North America. We concluded our mid-December survey on Friday of this past week and released a portion of the data in last night’s Steel Market Update newsletter.<a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1231"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1231 Mon, 19 Dec 2011 16:01:11 -0500 Housing Market Index Signals Continued Builder Confidence <p>The Housing Market Index has increased two points to 21 for December, indicating builder confidence for new single-family homes. This makes the third month in a <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1230"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1230 Mon, 19 Dec 2011 15:45:05 -0500 Construction Employment Falls, Input Prices For Steel Mill Products Rise <p>The construction industry remains bleak as employment and construction spending falls every year. The PPI for construction <a href="http://www.steelmarketupdate.com/modules/blog/content/post.cfm?PostID=1229"> Read more ...</a> http://www.steelmarketupdate.com/modules/blog/content/post.cfm?postid=1229 Fri, 16 Dec 2011 19:05:02 -0500