Steel Blog

In an effort to keep our readers as up to date as possible, we are adding some information to the steel mill maintenance schedule that we originally produced last week. The table did not change, but we did receive information from ArcelorMittal that we wanted to pass along.



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Fourth-Quarter Steel Mill Maintenance

Thursday, 28 September 2017 14:29

Steel Market Update has been working with steel buyers and the domestic steel mills in order to provide a better understanding of what outages/maintenance is scheduled above and beyond normal mill maintenance. Even though there are a number of outages scheduled, we are being told by both mills and their customers that the downtime has been reflected in lead times and there should not be any disruption to normal order flows.



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Fatality at Nucor Decatur

Monday, 25 September 2017 14:28

A contractor at Nucor Steel in Decatur, Ala., died at the mill on Saturday afternoon after falling into a vat containing waste product from finished rolled steel.

Fatality at Nucor Decatur

Monday, 25 September 2017 12:09

A contractor at Nucor Steel in Decatur, Ala., died at the mill on Saturday afternoon after falling into a vat containing waste product from finished rolled steel.



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Nucor Calls for Stronger Buy American Policies

Sunday, 24 September 2017 11:02

Nucor Corp. executives urged the U.S. Trade Representative and Department of Commerce to vigorously oppose any efforts to weaken existing Buy America/n requirements, in their comments on President Trump’s April executive order. The steel company also urged the U.S. government to take additional action to stimulate demand for domestic steel in U.S. and foreign government procurement markets.



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Nucor Louisiana to Restart in October

Sunday, 17 September 2017 10:38

Nucor expects earnings to be lower in third quarter compared to second quarter. Although Nucor sheet mills are operating at high utilization rates, pricing is not keeping pace with raw material costs due to pressure from imports. Plate demand has been tepid in end-use markets following a restocking of inventory in the supply chain earlier in the year, said Nucor executives in their earnings guidance. End markets are expected to remain stable.



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Nucor is checking out five states in the Midwest and Southeast as potential sites for a new steel bar micro mill project. Locations in Nebraska, Kansas, Missouri, South Carolina and Florida are under consideration. The board of directors also approved an expansion of Nucor's existing merchant bar operations in either Illinois or Ohio.

Nucor Adds Distinguished Army General to Board

Thursday, 14 September 2017 14:51

U.S. Army General Lloyd J. Austin III has been elected to the Nucor board of directors, effective Sept. 18.

General Austin, 64, retired as a four-star general in 2016 after nearly 41 years with the U.S. Army. From March 2013 through March 2016, he served as the commander of U.S. Central Command responsible for military strategy and joint operations throughout the 20-country Central Region that includes Iraq, Syria, Iran, Afghanistan, Pakistan, Yemen, Egypt and Saudi Arabia. Prior to that he served as the 33rd Vice Chief of Staff of the Army from January 2012 to March 2013 and as the Combined Forces Commander in Iraq from September 2010 through the completion of Operation New Dawn in December 2011.

During the week of Aug. 14, 2017, the U.S. steel mills advised their flat rolled and steel plate customers of their intention to increase spot prices on hot rolled, cold rolled, galvanized and Galvalume steels, as well as plate. The flat rolled mills announced $30 per ton base price increases on new spot business. For plate, we saw Nucor take prices up by $30 per ton, while SSAB advised their prices would rise by $40 per ton.

Steel prices had been flat to trending lower leading up to these price increase announcements. The mills are using the increase in commodity prices, especially scrap which rose $10 to $30 per gross ton for August delivery, as the justification of higher prices.

The steel mills have also been pointing at low inventory levels at their flat rolled customers, especially service centers, as a reason to increase prices. The main distributor association is the Metals Service Center Institute (MSCI), and they have been reporting low inventories for many months. Recently, the MSCI announced carbon flat rolled service centers were carrying 2.3 months' supply as of the end of July. Prior to July, the MSCI was reporting distributors at only 1.9 months of inventory on hand as of the end of May and June 2017.



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Nucor’s Plate Group announced a $30 price increase on Aug. 14, citing escalating raw material and input costs. Nucor will increase transaction prices on all new orders for carbon, alloy and heat-treated plate by $30 per ton, effective immediately.

Plate distributors responding to SMU’s request for comment are generally supportive of Nucor’s move.



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