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    Analysis

    Nucor lands GM platform for exposed automotive sheet

    Written by Laura Miller


    Nucor has been awarded an entire General Motors platform for exposed automotive sheet, Chair and CEO Leon Topalian said on a call Tuesday discussing the company’s third-quarter earnings. Topalian described the award as a breakthrough for Nucor in a product area he said integrated steelmakers had long dominated.

    Nucor plans to shift related process engineering and quality control work to its new West Virginia sheet mill as the facility ramps up, Topalian said. He said the mill would be capable of producing high-end automotive steel. Noah Hanners, executive VP of sheet products, said West Virginia automotive tons would begin customer qualifications in 2028.

    Laura Miller

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    Turkish scrap buyers eyeing higher prices

    The situation in Turkey for procuring ferrous scrap for its steel industry is facing some difficult times. As obsolescent scrap flows start to abate in Northern Europe and the US with the onset of the winter and the holiday season, the price of buying scrap for this period is trending upward. The domestic market in the US is expected to rise in November, possibly in December, and definitely in January as the US melt rate shows no signs of lessening. In Europe, the main problem is supply as the Turkish mills have leaned on this region heavily over the last two months rather than sourcing enough higher priced US cargoes. The European suppliers can only sell what is convenient at this point without an increase in price.

    GrafTech losses widen, modest demand growth still expected

    GrafTech International continues to expect modest growth in graphite electrode demand for the full year of 2026. The company reaffirmed its expectation of a 5-10% year-over-year increase in graphite electrode sales volume as it seeks to gain market share. “Overall, we continue to see improving trends across several of our key regions,” CEO Tim Flanagan said on a conference call Friday to discuss its third quarter results.

    Reliance says caution around foreign buys makes import flood unlikely

    Reliance Inc. is keeping a close eye on inventory as extended lead times, elevated prices, and tight material availability complicate purchasing decisions. Executives at the Phoenix-based service center said on Thursday's third-quarter earnings call that inventory levels were appropriate. The company is reducing excess inventory and focusing on inventory turns. Chief Financial Officer Arthur Ajemyan said inventory turns improved 10% year over year.

    Final Thoughts: Is the steel market now tighter than in 2021?

    "Now, the problem is no longer the price. The problem is having access to steel." That would have made a good lead. But I can’t take credit for it. Those (very quotable) words are from Cleveland-Cliffs Chairman and CEO Lourenco Goncalves during the steelmaker’s quarterly earnings conference call on Monday. For a while, I thought the shortages we'd been hearing about might be mostly a problem for small- and mid-sized buyers. But we’re seeing even some of the biggest steel buyers talking openly about supply problems.