Market Segment
October 1, 2024
Written by David Schollaert
Wabash National and Steel Dynamics Inc. (SDI) have signed a 10-year supply agreement that secures “critical steel components” for Wabash’s growing operations, the company said in a press release.
The Lafayette, Ind.-based trailer manufacturer said the deal ensures high-priority capacity and a backup supply of hot-rolled, galvanized, painted steel coils, and steel crossmembers.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.