Category: Market Segment

Nucor is holding its hot-rolled coil consumer spot price at $720/short ton this week.

China’s burgeoning exports are causing major angst all over the world. In the US, the increases are spawning calls for more restrictions on China, some of which might work a bit, but will likely cause more harm than good for the world at large.

Nucor Corp. has commissioned SMS group to upgrade its Tuscaloosa, Ala., plate mill.

The US International Trade Commission (ITC) has decided to conduct full sunset reviews of 23-year-old anti-dumping and countervailing duties (AD/CVD) on hot-rolled (HR) steel imports.

Zekelman Industries has announced a joint venture with Maverick Pipe, expanding its offerings of US-made strut channel, PVC conduit, and PVC fence products.

On Friday, the US International Trade Commission (ITC) voted to continue the trade case investigation of corrosion-resistant (CORE) steel imports from 10 trading partners.

Steel Dynamics Inc. remains optimistic about its prospects as it ramps up flat-rolled steel operations and prepares for the production of aluminum products next year. Executives from the Fort Wayne, Ind.-based steelmaker provided an update on the company’s operations on a conference call on Thursday held to discuss SDI’s third-quarter earnings results.

CMC Fourth quarter ended Aug. 31 2024 2023 Change Net sales $1,996.1 $2,209.2 -9.6% Net income (loss) $103.9 $184.2 -43.6% Per diluted share $0.90 $1.56 -42.3% Full year ended Aug. 31 Net sales $7,925.9 $8,799.5 -9.9% Net income (loss) $485.5 $859.7 -43.5% Per diluted share $4.14 $7.25 -42.9% (in millions of dollars except per share) […]

Steel Dynamics Inc. (SDI) reported a drop in third-quarter profits driven largely by lower flat-rolled steel prices. The Fort Wayne, Ind.-based electric arc furnace (EAF) steelmaker also saw scrap prices slip. That happened because of softer demand from domestic mills taking planned maintenance outages.

ArcelorMittal has entered into a 10-year commercial agreement with the Velux Group to supply the Denmark-based roof window maker with an increased amount of sustainably produced steel.

North American auto assemblies fell by nearly 7% from August, but were still ahead of July’s 20-month low. Assemblies were also down just under 1% year on year (y/y), according to LMC Automotive data.

US light-vehicle (LV) sales fell to an unadjusted 1.17 million units in September, down 12.8% from a year ago, the US Bureau of Economic Analysis (BEA) reported. Despite the year-on-year (y/y) drop, domestic LV sales rose 3.3% month on month (m/m).

Ankara has placed anti-dumping duties of ranging from 6.10% to 43.31% on hot-rolled steel sheet from China, India, Japan, and Russia. Meanwhile, Malaysia has announced it will investigate allegedly dumped steel wire rod from China, Indonesia, and Vietnam.

The Global Forum on Steel Excess Capacity (GFSEC) reaffirmed on Oct. 8 what domestic steel producers have long known—the threat of excess steel capacity never disappeared and is evolving. China’s steelmakers are boosting capacity and exports, echoing the 2016 global steel crisis. There is no doubt that China is successfully weaponizing excess capacity across many industries, and the fatal damage to domestic production and national security undermines the interests of all market-oriented countries. The question now is: How will GFSEC countries respond?

Cleveland-Cliffs’s Chairman, President, and CEO Lourenco Goncalves hosted a fireside chat with US Trade Representative Katherine Tai and Acting Secretary of Labor Julie Su on Friday at the company’s plate mill in Coatesville, Pa.

ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.

European automaker Stellantis’ CEO Carlos Tavares will step down at the conclusion of his CEO term in early 2026. The company announced other sweeping management changes, including a new North America CEO.

AZZ Inc., relatively unfazed by volatility in zinc pricing, is optimistic about demand prospects and M&A opportunities, especially in the galvanizing sector.

European automaker Stellantis is mulling a major management shakeup following the company’s recently lowered 2024 guidance. This comes amid a spate of layoffs in the last few months at Stellantis, which has significant operations in the US, and at General Motors.

Steel Dynamics Inc. (SDI) has become the world’s first steel producer with carbon targets certified by the Global Steel Climate Council (GSCC).

AZZ Inc. posted sharply higher second-quarter profits driven by increased sales of and better demand for its products. The Fort Worth, Texas-based hot-dipped galvanized and coil coater reported net income of $35.4 million in the second quarter of 2024, up 43.3% from $24.7 million in the same quarter last year. It posted Q2'24 sales of $409 million, up 2.6% from $398.5 million in Q2'23.

After a complete stoppage earlier this year, ArcelorMittal Mexico’s steel mill in Lazaro Cardenas, in the state of Michoacán, will soon return to full production.

Stelco Inc. said that the Canadian Competition Bureau will not challenge Cleveland-Cliffs’ pending buy of the Hamilton, Ontario-based steelmaker.

The US has banned imports from a subsidiary of the world’s largest steelmaker because it is allegedly using forced labor to produce steel products.

Cleveland-Cliffs has cleared a regulatory hurdle for its pending purchase of Canadian steelmaker Stelco Inc.

US raw steel mill production has slipped for the fourth consecutive week, according to the latest figures released from the American Iron and Steel Institute (AISI).

Nucor’s consumer spot price (CSP) for hot-rolled (HR) coil is unchanged this week at $730 per short ton (st).

On Thursday, the International Longshoremen’s Association (ILA) and the US Maritime Alliance (USMX), representing carriers and port operators on the East and Gulf Coasts, announced a three-and-a-half-month extension of the recently expired collective bargaining agreement. The extension kicks the can down the road until Jan. 15, 2025, after the 2024 election and the certification of the results on Jan. 6.

General Motors is temporarily stopping production at a plant in Michigan and one in Texas due to supply-chain fallout from Hurricane Helene.

China is challenging Canada’s decision to put tariffs on imports of Chinese steel, aluminum, and electric vehicles.