• Skip to main content

    Market Segment

    Global steel production declined through August

    Written by Brett Linton


    Crude steel output from mills around the world declined for the third month in a row in August, slipping 3% from July to an estimated 145.3 million metric tons (mt), according to recent figures released by the World Steel Association (worldsteel). August marked the second-lowest monthly production rate this year, down 13% from the two-year high of 166.6 million mt in March.

    On a 12-month moving average (12MMA) basis, annual production has averaged 151.6 million mt per month across the last twelve months, down 1% from the same period one year prior (Figure 1). Annual output has generally remained in the 152-154 million mt range over the past three years, similar to pre-pandemic levels.

    Brett Linton

    Read more from Brett Linton

    Latest in Market Segment

    Nucor increases spot HR to $1,240/ton

    Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.

    Leibowitz: US steel prices skyrocket above world prices. Which are right?

    Steel markets in the United States now feature supply shortages. Spot tons are well-nigh unavailable, and even contract tons are scarce. Based on the available statistics, the US market for flat-rolled products is seriously constrained. The US economy is still the strongest in the world, and manufacturing output remains vigorous. But the available supply is tight. The reason is fairly obvious. US domestic supply has increased a bit. Meanwhile, imports have fallen significantly.

    Shipbuilding to return to Sparrows Point

    Shipbuilding is set to return to Sparrows Point, Md. President Trump and Secretary of War Pete Hegseth announced plans to develop a new shipbuilding facility at the site called Arsenal-2. The 2-million-square-foot facility sitting on an 187-acre site will manufacture critical components for the Virginia-class submarine. Sparrows Point is the former site of Bethlehem Steel, once the world's largest steel mill, and the Bethlehem Sparrows Point Shipyard.