Sheet
March 17, 2024
Written by Robert Martin
The spot rate trend in the flatbeds has seen a positive upturn. There are potential rate accelerators and decelerators, however, likely to influence spot and contract flatbed rates.
The flatbed market for spot rates is showing signs of improvement as we move through the new year. February increased slightly from January, marking the third consecutive month of upward movement.
U.S. Steel’s board of directors has approved a nearly $3 billion investment in a new hot strip mill (HSM) at the Edgar Thomson Plant, part of the Mon Valley Works outside Pittsburgh. The project confirms Nippon Steel's commitment to modernize the Mon Valley HSM, a pledge made before and after its acquisition of U.S. Steel. It is part of Nippon's broader $14 billion capital investment plan for the Pittsburgh-based steelmaker's facilities.
The US Department of Commerce has reduced the anti-dumping duty on corrosion-resistant steel (CORE) for some Mexican producers after a court order. On remand from the Court of International Trade (CIT), Commerce agreed that the record did not show that Galvasid SA de CV’s US customers separately negotiated or paid freight or insurance. The agency therefore removed the adjustment and recalculated the margin. As a result, the agency lowered Galvasid’s coated steel dumping rate to 14.54%, from 24.05%. The all-others rate is now 14.29%, down from 17.42%. Ternium’s rate is unchanged at 14.17%.
A steel supply constraint is affecting some production schedules at Nissan North America, the automaker confirmed to SMU. The confirmation followed a Friday report by WLBT3 News that the constraint was affecting production at Nissan’s Canton, Miss., plant. SMU asked whether the issue was affecting other facilities. “Nissan continues to manage a steel supply constraint affecting some of our production schedules,” a company spokesperson said in an email to SMU on Wednesday, Oct. 21. Nissan is working with its supplier and taking steps to limit disruption to employees, dealers, and customers, the spokesperson added. The company provided no further details.
The majority of buyers SMU polled this week expect prices to continue rising from here, supported by limited supply. Demand is said to be strong, with most remarking that it is stable to improving. Most say inventories are moving faster this year than last, attributed to tight supply, late mill deliveries, and generally leaner supply chains. Imports continue to appeal to many buyers on both price and availability, but lead times, tariffs, and other risks remain. Buyers are split on whether President Trump’s tariff policies are helping their businesses and whether they’re seeing manufacturing reshoring.
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. “