Category: Market Segment

United Auto Workers (UAW) union members seem poised to ratify contracts at Ford and Stellantis, according to UAW vote trackers and media reports.

European Aluminium, an association representing the entire European aluminum value chain, announced in a press release that it supports the European Commission's proposed 12th package of sanctions against Russia.

Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]

Virginia-based metal recycler Greenwave Technology Solutions revealed its financial troubles in its 10-Q quarterly report released on Nov. 14.

Nucor Corp. has announced a $280-million investment to modernize its plate mill in Tuscaloosa, Ala.

The importation of basic pig iron has allowed EAF steelmakers to implement thin-slab casting technology to make drawing-quality flat-rolled sheet over the last 30 years.

The US plate market has been rather quiet over the past couple of weeks since Nucor Corp. caught many off guard with a $140-per-ton price cut.

SMU discussed wind energy, a promising end-use market for steel, with SSAB Americas’ SVP and CCO Jeff Moskaluk.

New York's manufacturing activity saw an increase in November, according to the most recent Empire State Manufacturing Survey.

The iron ore price has been rising from the $118 /dry metric ton (DMT) level seen in the last edition, initially due to greater optimism in China after the government’s RMB 1 trillion fiscal stimulus announcement. The price has gotten some extra support from concerns over supply, though the current price level is not backed by […]

Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.

Nucor executives discussed the specifics of the company's 'net-zero by 2050 strategy' during a webcast on Nov. 14.

A group of California members of Congress is calling on U.S. Steel to keep its USS-UPI steel mill in Pittsburg, Calif., open by finding a buyer for the operations.

Steel Market Update spoke with Jonathan Shank, the new COO of JSW's Mingo Junction mill, on its $145-million investment project.

Tata Steel has announced plans to cut 800 roles at its sheet works in Ijmuiden, the Netherlands, to remain competitive and profitable in the future. “Despite all efforts by Tata Steel to improve its market position and reduce costs, more is needed and the company needs to bring down personnel costs further,” the company stated. […]

Raw steel production in the US decreased in the week ended Nov. 11, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 13.

United Auto Workers (UAW) members at plants in Louisville, Ky., and Flint, Mich., have voted against ratifying the contracts with two of the “Big Three” Detroit-area automakers.

Nucor Corp. has announced its target date for net-zero greenhouse gas (GHG) emissions as 2050.

Domestic heating and cooling equipment shipments declined in September, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

SSAB Americas will supply its low-carbon SSAB Zero steel to GE Vernova Onshore Wind for wind towers in North America.

CRU’s analysis shows that 7–12 million metric tons of additional steel demand will be generated following the issuance of RMB1 trillion bonds by the central government of China. The immediate impact of this is that market confidence has improved, which has supported prices. The additional steel demand is expected to materialize over 2024 and 2025. […]

Certain welded steel pipe and tube products being exported from Vietnam to the US have, in fact, been illegally evading the payment of import duties, a US government agency announced this week.

The historically significant Sparrows Points steel mill site in Baltimore is set to live another life as a wind turbine factory under the name “Sparrows Point Steel.”

JSW Steel USA is expanding the rail infrastructure at its Mingo Junction mill, thanks in part to a grant from the state of Ohio.

The London Metal Exchange (LME) aluminum 3-month price is moving down again on the morning of Nov. 10 and was last seen trading at $2,225 per metric ton. The US Midwest premium remained steady for the third week in a row, suggesting a bottom might have been hit. Trading activity is picking up for the […]

US steel imports continue to arrive at a steady pace, as total import licenses in October were about even with September’s import levels.

Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.

ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.

The leader of the International Longshoremen’s Association (ILA) warned that members on the East and Gulf Coasts could go on strike in October of next year when the union’s contract expires.

Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.