Category: Market Segment

Algoma executives reiterated that operations are proceeding as normal following an unplanned BF outage earlier this year.

We have heard ominous warnings about a flood of Mexican steel threatening the US market. It's the kind of rhetoric that gets thrown around often with little regard for the facts. The reality is that the Mexican steel surge is simply not happening, and the US steel industry has consistently maintained a significant trade surplus in finished products with Mexico. In 2023 alone, this surplus exceeded $3 billion.

Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.

ArcelorMittal Mexico said it's on the brink of severing labor relations with striking members of the local mining union. This serious move comes as an illegal strike and the resulting mill outage persist into their second month, posing a significant threat to the continuation of the mill’s operations.

The city of Quincy, Wash., in Grant County is being considered among possible locations for Nucor’s proposed rebar micro-mill in the Pacific Northwest, according to a local report.

JSW Steel USA plans to invest $110 million in steel plate mill modernization projects with sustainable technology in its Baytown, Texas, facility.

Nucor's weekly hot-rolled (HR) coil price registered a notable decline this week.

Flatbed rates remain roughly 20% higher than dry van but have stayed relatively calm for the first half of 2024, rising just 5% in the first half of the year and remaining negative on a year-over-year basis.

The chairman of a large American steel company called for Mexico to be dropped from USMCA at a steel industry conference last week. This follows earlier calls from members of Congress to reinstate Section 232 duties on Mexico. How did we get to this point?

Global steel output rose 6% from April to May, and is now at the highest rate seen since March 2023, according to World Steel Association’s (worldsteel) latest release.

Algoma Steel’s quarterly and full-year results took a hit from an unplanned blast furnace outage earlier this year. However, with a modernized plate mill and two new EAFs slated to come online by the end of this year, the Canadian flat-rolled steel producer is looking to a greener future.

CMC reported solid demand and a healthy start to the construction season in its latest quarterly earnings statement.

Outgoing Mexican President Andrés Manuel López Obrador (AMLO) said the incoming administration of Claudia Sheinbaum will be able to resolve the woes of shuttered steelmaker Altos Hornos de México (AHMSA). 

Mill Steel Co. announced several executive appointments as it works to transform the organization.

Flack Global Metals (FGM) is set to take majority ownership of Pacesetter Steel Service.

Galvanized prices have tumbled from a month ago, and many market participants expect that trend to continue in July.

ArcelorMittal Mexico is suffering a significant production loss as the labor strike at its mill in Lazaro Cardenas is now in its fourth week.

Steel Dynamics Inc.’s (SDI’s) top executive Mark D. Millett has received the 2024 Willy Korf/Ken Iverson Steel Vision Award.

North American auto assemblies ticked higher in May, moving up for the second straight month and reaching a nine-month high, according to LMC Automotive data. While assemblies were up month on month (m/m), they are still 1.7% lower year on year (y/y).

Steel Dynamics Inc. guided to significantly reduced second-quarter earnings as its steel operations have taken a hit from lower prices.

U.S. Steel has guided to lower second-quarter earnings both sequentially and on-year in "dynamic" spot price market.

Former President Trump’s visit to Capitol Hill last week made a lot of news. One proposal directly involves international trade and tariffs. While the specifics are hazy, President Trump allegedly talked about replacing the federal income tax on individuals with tariff increases. Let’s check that out.

Shipments of heating and cooling equipment receded from March to April according to the latest data released from the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).

Canada’s Algoma is set to host the grand opening of its modernized plate mill in Sault Ste. Marie, Ontario, on June 18.

Nucor Corp. has guided to much lower second-quarter earnings, as profitability in its steel mills segment suffers due to lower prices and volumes.

Friedman Industries reported lower earnings in its fiscal fourth quarter, and the company expects first-quarter margins to be lower than Q4 margins due to declining HRC prices.

Canacero has weighed in on the workers' protest at ArcelorMittal Mexico’s Lazaro Cardenas mill, urging a quick resolution to the dispute.

US light-vehicle (LV) sales rose to an unadjusted 1.43 million units in May, up 4.8% vs. year-ago levels, the US Bureau of Economic Analysis (BEA) reported. The year-on-year (y/y) growth in domestic LV sales came in with a 7.6% month-on-month (m/m) boost.

Olympic Steel is celebrating Executive Chairman Michael D. Siegal's 50th work anniversary and the company’s 70th year in business.

Canadian flat rolled producer Algoma Steel has appointed Erin Oliver to the newly created role of vice president – health and safety.