Steel Market Update (SMU) flat rolled price assessments remained the same on hot rolled, cold rolled and Galvalume this past week compared to the week before. Our galvanized price average was $5 per ton lower than one week earlier as the lower end of our range dropped by $10 per ton. Platts did not change their price assessments while the CRU noted slight weakness in their numbers dropping all three of the items (HR, CR and GI) slightly compared to the prior week. Steel Orbis was the first of the indices to drop their HRC number to under $600 per ton as they lowered their number by $20 per ton to $590 this past week. SteelBenchmarker did not produce new numbers this past week.
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UAW Has Upper Hand vs. Automakers: Schenker
The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.
US Rig Count Drops, Canada Unchanged
The number of active oil and gas drilling rigs in the US dropped this week, while Canada’s count remains unchanged, according to the most recent data from oilfield services company Baker Hughes.
CRU: Demand-side Factors to Create Drag on Global Sheet Markets
Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside. An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, […]
Driving the Debate: Auto Worker’s Wage Demands in an Era of EV Transition
The LME aluminum 3-month price was up 0.8% on the morning of Friday Sept. 22. It was last seen trading at $2,238/metric tons, remaining above the $2,200/t mark for most of the past week.
Zekelman Industries Expanding ZI-Strut Line
Zekelman Industries has announced an expansion of its its ZI-Strut™ metal framing and accessories product line.