Category: Analysis

I think all of us know that sometimes courtships go wrong. A misplaced word or deed and soon things can go sideways, and not in the prices sense. Such could be the case with Japanese steelmaker Nippon Steel’s play for U.S. Steel.

Steel mill lead times shortened for both sheet and plate products this week, according to buyers responding to our latest market survey.

Negotiation rates have edged lower from our previous market check, a downward trend witnesses since July.

We’re starting to see some impacts of the big trade case filed last week against imports of coated flat-rolled steel from 10 nations. Namely, we’ve heard that a range of traders have stopped offering material from Vietnam. An alleged dumping margin of nearly 160% will do that. Especially amid chatter of critical circumstances.

SMU’s steel price indices showed mixed signals for a second consecutive week. Our hot rolled, cold rolled, and plate price indices inched lower from last week, as the galvanized index held steady and Galvalume's ticked higher.

Following June’s slump, the amount of finished steel entering the US market partially rebounded in July, according to SMU’s analysis of data from the US Department of Commerce and the American Iron and Steel Institute (AISI).

Following May’s five-month low, US steel exports ticked higher in July, according to the latest US Department of Commerce data. The amount of steel exiting the country rose 6% month on month (m/m) to 818,000 short tons (st). This is back in line with trade levels seen in recent months.

Raw steel output by US mills ticked up slightly last week, according to the latest data from the American Iron and Steel Institute (AISI).

Nucor has raised its weekly consumer spot price (CSP) by $10 per short for hot-rolled (HR) coil to $720/st.

The phrase “political football” has been tossed around a lot lately. (Pun probably intended.) For the humble journalists at SMU who thought the week following Steel Summit would prove a quiet one… the news cycle had other ideas

July represents the second-lowest monthly rate for steel imports so far this year.

In a candid fireside chat with SMU Senior Analyst/Editor David Schollert, Stelco’s CEO Alan Kestenbaum opened up about Stelco’s pending sale to Cliffs, his business strategy, outlook for the industry, and plans for the future. The chat took place on Tuesday, Aug. 24, at the 2024 SMU Steel Summit in Atlanta.

Global crude steel production fell by 4% month over month (m/m) in July, led by a major drop in Chinese output, which fell 9% m/m.

A roundup of the week's CRU aluminum news.

Sheet prices didn’t roar back after Labor Day. But steel market news sure came out of the gate strong (or maybe chaotically is the better way to put it). First, the nearly $15-billion proposed sale of U.S. Steel to Nippon Steel exploded into the news. And when I say exploded, I mean that all sides seem to be escalating things now.

Nucor intends to keep plate prices unchanged with the opening of its October order book, according to a letter to customers dated Wednesday, Sept. 4. The Charlotte, N.C.-based steelmaker said it would maintain prices set in its July 1, 2024, price letter.

We had a wonderful time at last week’s Steel Summit Conference, seeing so many familiar faces and catching up with friends within the industry.

SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]

Alan Beaulieu, president of ITR Economics, presented the final keynote at last week’s Steel Summit conference

Welcome back from Labor Day, from Steel Summit, and from whatever fun you might have had over the long weekend. Personally, I enjoyed camping with friends and family near Starved Rock. No one starved, there were no major injuries, and we enjoyed the many splendors of Mystical Fire. (Speaking of which, does that have industrial uses? But I digress.)

SMU indices moved higher on cold rolled products this week, while galvanized prices were flat. Our indices for plate, hot rolled, and Galvalume all edged lower.

Much like the classic EF Hutton commercial, when Barry Zekelman talks, people listen. Add in an audience at Steel Summit 2024… and people’s ears seem to perk up even more.

Domestic raw steel mill production eased last week but remains historically high, according to the latest release from the American Iron and Steel Institute (AISI).

US manufacturing activity contracted for a fifth straight month in August, as reported in the latest release from the Institute for Supply Management (ISM). The Index has indicated contraction in the manufacturing sector for 21 of the last 22 months.

SMU’s Monthly Review provides a summary of important steel market metrics for the previous month. Our August report includes data updated through August 30th.

Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil is unchanged from last week.

Steel Market Update will be taking time off in observance of Labor Day. We will not publish an issue on Sunday, Sept. 1, and our offices will be closed on Monday, Sept. 2. Our weekly pricing service will not be impacted. We will resume our regular publication schedule and our pricing service on Tuesday, Sept. […]

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.”

This CRU Insight explores how decarbonization will play a significant role in redefining steel trade patterns by shifting regional competitiveness and increasing steel demand needs.

Active US drill rig counts eased further last week while Canadian activity hit a near six-month high, according to the latest data release from Baker Hughes.