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    Market Segment

    February 2, 2023

    Hot Rolled Futures: Cliffs Price Hike Boosts HRC Gains

    Written by David Feldstein

    Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. Rock provides customers attached to the steel industry with commodity price risk management services and market intelligence. RTA is registered with the National Futures Association as a Commodity Trade Advisor. David has over 20 years of professional trading experience and has been active in the ferrous derivatives space since 2012.

    If the groundhog sees his shadow, does the rally continues for another six weeks? Something like that? Today is Groundhog Day, and that can only mean one thing… we got January’s auto sales data yesterday. Ward’s Total Vehicle Sales jumped to a better-than-expected 15.74 million seasonally adjusted annual rate (SAAR) in January.

    David Feldstein, SMU Contributor

    David Feldstein

    SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of financial market trading experience and has been active in the ferrous futures space since 2012. Feldstein earned an MBA from the University of Chicago Booth School of Business with concentrations in economics, statistics and analytical finance. He can be reached at davefeldstein@gmail.com.

    Read more from David Feldstein

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    Behlen closes Florida metal buildings manufacturing plant

    Behlen Mfg. Co. announced the closure of its Behlen Building Systems manufacturing facility in Sarasota, Fla. The company cited high production costs in the Southeast US, higher material and freight costs, and its commitment to operating efficiently and remaining competitive. Behlen expects the closure to be completed by Dec. 18. A Florida WARN notification shows 55 employees will be affected. “This was a difficult decision, particularly because of the impact it will have on our employees in Sarasota,” said CEO Tom Boal in a statement. “We are grateful for the dedication, hard work, and contributions of our Sarasota team. While the decision to close a facility is never easy, we must continue making strategic decisions that strengthen our operations and position Behlen for long-term success.”

    Alro opens new plant in Florida to better serve Orlando market

    Alro Steel has opened a new, 245,000-square foot facility in Oviedo, Fla., a suburb of Orlando, Fla. The Jackson, Mich.-based service center said the new location would allow it to better serve the Orlando market. The company said the new facility will allow its original location in Orlando, established in 1982, to focus on plate processing. The Oviedo location “significantly increases Alro’s local inventory and processing capacity, providing customers with greater product availability, expanded processing options, and faster shipments,” Alro said in a press release posted earlier this week.

    Nucor plans $60M expansion of Alabama Towers & Structures facility

    Nucor Corp. announced a $60 million investment to expand its Towers & Structures facility in Trinity, Ala., to increase production of steel poles and other structures for utility infrastructure. The Towers & Structures manufacturing facility, which began operating in September 2025, is adjacent to the Nucor Steel Decatur flat-rolled mill. The expansion will add production capacity, laydown space, and a dedicated galvanizing inspection area, the company said. "Utilities across the country are making significant investments to strengthen and modernize the nation's power grid," remarked Nucor Chair and CEO Leon Topalian. "By expanding our Trinity facility adjacent to our Decatur sheet mill, we can combine American-made steel with highly efficient manufacturing to better serve our utility customers and support their long-term infrastructure needs. “

    SDI Q3 profits soar on high steel prices, tight US market

    Steel Dynamics Inc. (SDI) posted sharply higher third quarter profits on the back of higher steel prices, record steel shipments, and "historically low" import volumes. The Fort Wayne, Ind.-based steelmaker said it also benefited from low customer inventories, long mill lead times, and low scrap prices. It wasn’t just a story of US trade policy suppressing imports. Demand was strong across a range of end markets, among them energy, non-residential construction, and automotive, the company said.