Sheet
April 4, 2024
Written by Laura Miller
Steel shipments from US mills were lower in February, both from January and from last year.
The American Iron and Steel Institute (AISI) reported that US mills shipped 7,097,512 short tons (st) of steel products in February. Shipments declined 3.9% from the previous month and 2.8% from February 2023.
Algoma Steel Group Inc. expects the first heat from its second electric-arc furnace (EAF) in the coming days, even as it forecasts a quarterly EBITDA loss and a 20% decline in shipments.
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.
Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.
Sheet and plate prices continued to inch higher on a combination of scarce spot tons, long lead times, lean inventories, and stable demand.
U.S. Steel is investing $28.3 million in its Great Lakes Works in Michigan, with upgrades planned for its pickle line during a 30-day outage starting in October.