The risks of doing business in Australia are greater following a slew of government interventions and tax rises, according to Gary Nagle, CEO of miner and commodity trader Glencore. His comments coincided with the South Australian Chamber of Mines and Energy issuing figures showing the resource sector’s increased importance to the state. “Australia has become […]
New, single‐family home sales were up marginally in February, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau. Monthly gains were impacted by high mortgage rates and prices, while rising construction costs were also to blame. Despite dull results, signs point towards improvement later in […]
The spread between hot-rolled coil (HRC) and prime scrap prices has widened significantly in March as both products saw large price gains, according to Steel Market Update data. With a flurry of recent price increases, our hot-rolled coil price average jumped $25 per ton week over week to $1,140 per ton ($57 per cwt) as of March 21. […]
Flat-rolled steel prices are still trending up in the wake of recent mill tag hikes, albeit at a slower pace this week. We’ve seen a rather notable market cycle over the past 15-plus weeks with repeated price hikes. Is it starting to peter out, or just catching its breath? Hot-rolled coil (HRC) prices have increased […]
US Steel has restarted the No. 8 blast furnace at its Gary Works in northwest Indiana. The Pittsburgh-based steelmaker said it restarted the furnace in early March in response to improving demand and rising prices. The company had idled the No. 8 furnace in September, citing difficult market conditions and competition from imports. It hinted […]
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, March 22, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the outlook for […]
Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will be the featured speaker on the next SMU Community Chat webinar on Wednesday, March 22, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about the outlook for […]
Should there be limits on the power of the US Commerce Department under the antidumping laws to impose punitive and potentially prohibitive duties on imports? Last week, the Court of International Trade (CIT) placed some limits on Commerce to do so. The CIT rejected punitive duties in an antidumping investigation of utility-scale (i.e., big) wind towers from […]
Sheet prices rose again this week, continuing a rally that began shortly after Thanksgiving. SMU’s hot-rolled coil price stands at $780 per ton ($39 per cwt), up $20 per ton from $760 per ton last week and up $165 per ton from a 2022 low of $615 per ton recorded in November. HRC prices haven’t […]
As new capacity continues to come online, there’s a question of what that means for existing capacity. Will the market be flooded with too much supply and not enough demand? North American flat-rolled capacity has been growing and is expected to continue to into 2025. But Philip K. Bell, president of the Steel Manufacturer’s Association (SMA), […]
Domestic hot-rolled coil (HRC) continues to hold a competitive price advantage over imported steel, though it has declined over the past couple of weeks, according to Steel Market Update’s latest foreign vs. domestic price analysis. US HRC is approximately just 1–8% cheaper than foreign prices this week, after consideration of freight costs, trader margins, and […]
The United States lost a dispute in the World Trade Organization last month. This is hardly the first time. In this case, tariffs and other import restrictions on steel and aluminum imposed by President Trump in 2018 were found to violate WTO agreements. The United States argued that its invocation of “essential security interests” was […]
US manufacturing activity slipped in December, for the second consecutive month, according to the Institute for Supply Management (ISM). The ISM’s December manufacturing PMI remains below the neutral 50.0 mark — the level typically dividing expansion from contraction. On the heels of a 29-month period of growth, this is now the lowest level since May […]
I’m eager to see the results of our survey later this week because I think it might shed some light on what appears to be a tale of two steel markets. Some of you are telling me that you’re already busy and will only get busier as people come back into the market after the […]
Raw steel production by US mills fell again last week as capacity utilization slipped to only 72.9%, according to data released by the American Iron and Steel Institute (AISI) on Monday, Dec. 19. The decline came as mills in the South and Northeast cut production, even as those in the Great Lakes, Midwest, and West […]
Trying to neatly summarize the North American steel market right now can give you a case of cognitive dissonance. Domestic mills think they have some momentum, and they’re trying as hard as they can to get prices higher for Q1. Case in point: ArcelorMittal has put the heft of one of the world’s largest steelmakers […]
Flat Rolled = 52.4 Shipping Days of Supply Plate = 50.3 Shipping Days of Supply Flat Rolled US service center flat-rolled supply in November was steady month on month (m/m), according to Steel Market Update data. At the end of November, service centers had 52.4 shipping days of flat-rolled steel supply on an adjusted basis, compared […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” Historical survey results are also available in the Survey Results section under “Survey Results History.” If you need help […]
The US Department of Commerce has updated antidumping and countervailing duties (AD/CVD) on carbon and alloy cut-to-length plate imports from Italy and South Korea after two administrative reviews, according to Federal Register filings reviewed by Steel Market Update. In the AD duty review of Italian CTL plate shipments during the one-year period ended April 30, […]
Wolfe Research managing director Timna Tanners joined SMU for an Community Chat on Wednesday to talk about her forecast for 2023, including the calm before the sheet storm. Tanners is bullish about the first half next year. She forecast HRC prices would average $775 per ton ($38.75 per cwt) in Q1 2023, dip to $750 per ton […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our SMU Community Chat webinar on Wednesday, Nov. 30, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. It’s not too late to register here. We’ll talk about Tanners’ outlook for steel prices, raw materials costs, […]
Steel Market Update will be taking time off in observance of Thanksgiving. We will not publish an issue on Thursday, Nov. 24, or Sunday, Nov. 27. Our offices will be closed on Thursday and Friday, Nov. 24–25. Premium members will receive our Survey Results earlier than usual: We plan to publish the data on Wednesday […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our SMU Community Chat webinar on Wednesday, Nov. 30, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about Tanners’ outlook for steel prices, raw materials costs, as well […]
The flat rolled steel market can be a challenging environment to manage risk. Much like a boxer, you must engage in various strategies to protect yourself. When the hits start coming, fancy footwork may not be enough. Steel Market Update (SMU) caught up with David Feldstein, owner of Rock Trading Advisors, and got some insight […]
Wolfe Research managing director Timna Tanners will be the featured speaker on our SMU Community Chat webinar on Wednesday, Nov. 30, at 11 a.m. ET. The live webinar is free. A recording will be available free to SMU members. You can register here. We’ll talk about Tanners’ outlook for steel prices, raw materials costs, as well […]
There’s something special about tales of yesteryear. Stories of a bygone era — before cell phones, virtual reality, and self-driving cars — can create a longing for nostalgia. For the Quality Metal Stamping (QMS) family, those tales of old are engrained in the company’s history. Steel Market Update sat down with Stephen Serling, a member of […]
Rock Trading Advisors President David Feldstein will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 12, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. We’ll discuss the last three years in the […]
Rock Trading Advisors President David Feldstein will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 12, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. We’ll discuss the last three years in the […]
Rock Trading Advisors President David Feldstein will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Oct. 12, at 11 a.m. ET. The live webinar is free for anyone to attend. A recording will be available for SMU members. You can register for the webinar here. We’ll discuss the last three years in the […]
In a time where technology is fashionable and trends change in the blink of an eye, starting fresh can feel like a step in the wrong direction. For the team at NQ Industries, a steel startup in the Pacific Northwest, it’s anything but that. Steel Market Update (SMU) caught up with the founders of NQ […]