Category: Market Segment

Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,055 per short ton (st), a $10/st bump from last week.

Core to the negotiations will be the need for a fundamental rebalancing of the relationship between the United States, Mexico, and Canada - especially when it comes to the steel and autos supply chain.

The Commerce Department has determined that allowing anti-dumping and countervailing duties on non-oriented electrical steel (NOES) imports from a handful of countries to expire would result in continued dumping and subsidization at significant levels.

Rocky Mountain Steel Mills has signed a new seven-year contract with Union Pacific Railroad for the domestic production of steel rails.

The US and Canadian oil and gas rig counts inched lower this past week, according to the latest Baker Hughes data.

Factors like fluctuating demand, import availability, domestic product lead times, fuel surcharges, and end-user consumption left plate sources feeling unsettled.  

Participants in the hot- and cold-rolled coils market are optimistic about the market's health.

SMU’s Steel Buyers’ Sentiment Indices indicate that steel buyers remain highly optimistic about their businesses’ chances for current and future success.

MU’s latest steel buyers market survey results are now available on our website to all premium members.

Service centers held only 2.24 months of supply (49.3 days of supply) of sheet products in March, according to our latest figures. If you check our archives, you’ll see that's the lowest sheet inventories we’ve seen since June 2021 – which was hardly a bad year for steel.

Steel mill lead times remained elevated this week, according to buyers responding to our latest market survey.

There are several factors buttressing the ferrous scrap market against it seasonal fall in the spring months. We all know about the Iran War and the rise in fuel costs. Other factors include strong steelmaking activity, rising steel prices, lighter inbound scrap flows, and firm export markets.

U.S. Steel announced plans to restart tin production at its Gary Tin Mill at the integrated Gary Works steelmaking facility outside Chicago.

Nucor announced its fuel surcharge for plate will be at least $10 per short ton, effective with shipments beginning May 1.

US service centers’ flat-rolled steel supply declined for a third straight month in March, with shipping days of supply slipping to 49.3 on an adjusted basis, according to SMU data.

Hyundai Steel and France-based Fives Group announced the signing of a contract for coil finishing lines for the Hyundai-POSCO joint steel mill proposed in Louisiana.

US steel exports held steady from January to February and remain near historical lows.

Participants in the galvanized steel market remain encouraged by strengthening product prices, even as increases unfold at a subdued pace.  

Manufacturing activity in New York state strengthened in April, with steel-adjacent producers reporting firmer demand and improving throughput, according to the Federal Reserve Bank of New York’s latest Empire State Manufacturing Survey.

Canada’s ArcelorMittal Dofasco completed the final push of coke at its No. 3 Coke Plant on April 13. It marks the beginning of a controlled shutdown and the next step in the company’s decarbonization pathway, first announced in 2021.

Raw steel production increased for the fourth-consecutive week last week to a new multi-year high, according to the American Iron and Steel Institute (AISI).

Ken Simonson, chief economist for The Associated General Contractors of America (AGC), will join SMU for a Community Chat webinar on Wednesday, April 15, at 11 a.m. ET.

Nucor has increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,045 per short ton (st), a $5/st bump from last week.

Remember the “Got Milk?” advertising campaign of the 1990s. Maybe we should start a “Got Steel?” campaign. Or maybe “Got Spot Tons?” would be more accurate, if less catchy.

What a local media report described as an "explosion" on Friday night at U.S. Steel's Gary Works in Northwest Indiana has not disrupted production or resulted in any injuries, that company said.

Steel output will carry on in Iran despite repeated US-Israeli air strikes on key industrial sites, including the Mobarakeh and Khuzestan steel companies, according to a senior Iranian industry official.

No doubt, events will scramble the status quo. Meanwhile, the global systems that have prevented major wars for 80 years are sagging.

Steel imports remain near some of the lowest volumes recorded in over five years.

A coalition of US wire rod producers has filed a petition seeking countervailing duties on carbon and alloy steel wire rod from Algeria.

US scrap prices came in flat on busheling in April, while shredded and HMS both traded down, sources told SMU.