JSW Steel USA resumed operations at its Baytown, Texas, plate and pipe mill on Feb. 25–earlier than expected, the company’s top executive said.
And the steelmaker remains on track to begin melting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, in March, JSW Steel USA CEO Mark Bush told Steel Market Update.
“We restarted our Baytown, Texas, facility today, ahead of schedule,” Bush said. “I am proud of the entire JSW Steel USA team for how diligently and safely they have worked over the past months to bring our facilities back online.
“This is an exciting time within our company and our industry,” he said. “The JSW Steel team is looking forward to re-entering the market and supporting our customers.”
JSW Steel USA idled its Mingo Junction and Baytown mills in 2020 in response to poor market demand following the outbreak of the COVID-19 pandemic. It also took the downtime to make upgrades to the Ohio mill’s EAF and caster.
The company had initially expected to restart both plants in March.
The Baytown mill makes plate, some of which it sells to third parties and some of which it uses to feed its large-diameter pipe mill. It does not have melting capability.
The Mingo Junction mill makes slab and hot-rolled coil. Its EAF has a capacity of 1.5 million tons per year, according to the Association for Iron & Steel Technology’s 2021 Directory of Iron and Steel Plants.
Steel Market Update’s average plate price stands at $1,070 per ton ($53.50/cwt), up nearly 6% from $1,010 per ton a month ago and up 22% from $875 per ton at the beginning of the year.
SMU’s average hot-rolled coil price is at $1,210 per ton–an all-time high. It is also up 7% from $1,130 per ton a month ago and up 23% from $985 per ton at the beginning of the year.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael CowdenRead more from Michael Cowden
Latest in Steel Products
Northwest Pipe earnings decline in Q4, FY2023
Northwest Pipe posted lower earnings in the fourth quarter as the company said it faced significant challenges in its steel pressure pipe (SPP) and precast businesses in full-year 2023.
Active US rig count rises to 5-month high, Canada level
The number of active rigs in the US inched up to the highest level seen since September, according to the latest data from Baker Hughes.
US HRC is just $42/st more expensive than imports
The premium US hot-rolled coil (HRC) held over offshore product for roughly five months has nearly vanished. Domestic hot band prices continue to run downhill at a high rate, erasing a $300/st gap they had over imported HRC just two months ago.
Nucor slashes plate prices by $90/st
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its April order book.
Leibowitz: The future of WTO dispute settlement in the MC 13 conference
This week, the World Trade Organization (WTO) ministerial conference convenes in Abu Dhabi, UAE. There are many issues on the WTO’s plate. The question is whether any resolution of these matters is likely or even possible. One of the most important issues is the future of the dispute settlement system, which has been rendered impotent […]