Market Segment
November 11, 2021
Written by Michael Cowden
The board of Canadian flat-rolled steelmaker Algoma has approved the construction of two new electric arc furnaces (EAFs) with combined steelmaking capacity of 3.7 million tons per year.
The new EAFs are expected to come online in 2024 and to replace the Sault Ste. Marie, Ontario-based company’s blast furnaces and basic oxygen furnaces.
CRU Research Principal speaks about the implication of Mesabi Metallics' proposed steel mill in Iowa.
Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.
SSAB Americas aims to increase base plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.
Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.
As substrate costs continue to rise, Nucor Tubular Products announced a price increase for heavy structural sections (HSS), mechanical, and piling products.