Category: Market Segment

Workers at Cleveland Cliffs’ Northshore Mining in Minnesota have joined the United Steelworkers (USW) union.

Steel buyers report that mills are willing to negotiate lower spot prices for the sheet products SMU surveys.

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Movements in lead times were mixed this week, with those for hot rolled and Galvalume falling back marginally, and those for cold rolled, galvanized, and plate extending slightly.

Business activity at architectural firms was stable in June vs. May, though billings were still increasing, according to the American Institute of Architects (AIA)/Deltek Architecture Billings Index (ABI) score. May’s rebound of 51.0, the highest reading since February, was slightly than June’s 50.1 index. Both readings are an improvement over April’s index of 48.5, and it’s […]

Atlas Tube, part of Zekelman Industries, has partnered with Mobility Worldwide for over 10 years to provide mobility carts to those in need globally, and said it will continue to dedicate resources where needed.  “When Zekelman Industries acquired the assets of EXLTUBE based in North Kansas City, Mo., in November 2022, we were well aware […]

The hot end of Steel Dynamics Inc.’s (SDI) Sinton, Texas, sheet mill is expected to be back up and running in the next few days.

The hot end of Steel Dynamics Inc.’s (SDI) Sinton, Texas, sheet mill is expected to be back up and running in the next few days. Executives made the announcement on the company’s second quarter earnings conference call with analysts on Thursday, July 20. On July 7, SDI announced an unplanned outage at the hot mill, […]

Antidumping and countervailing duties on imports of steel wire rod from a handful of countries will remain in place for another five years.

US housing starts pulled back in June after a hitting an 11-month high in May.

Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]

Steel Dynamics Inc. (SDI) posted lower year-over-year second quarter profits but said demand “remains solid” across the automotive, construction, industrial, and energy sectors. The Fort Wayne, Ind.-based steelmaker also predicted that steel prices might find support thanks to what it described as low customer inventories. “We remain confident that market conditions are in place for […]

Antidumping and countervailing duties on imports of steel wire rod from a handful of countries will remain in place for another five years. The US International Trade Commission (ITC) made its final decision in an expedited sunset review of the AD duties on wire rod from Belarus, Italy, Russia, South Africa, South Korea, Spain, Turkey, […]

Raw steel production in the US inched up last week after dropping for two consecutive weeks, according to data released on Monday, July 17, by the American Iron and Steel Institute (AISI). Steel production in the US rose to 1,716,000 net tons for the week ended July 15, up 0.3% from 1,711,000 the previous week. Domestic production […]

US heating and cooling equipment shipments recovered in May, according to the most recent data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI). The total amount of units shipped for the month of May was 1.98 million, compared to 1.74 million units in April. Shipments were up 13% month-over-month (MoM), but down 6% year-over-year (YoY). […]

 The US Federal Reserve said that overall economic activity has inched up since May in its latest Beige Book Report released on July 12. The Beige Book is a compilation of information on current economic conditions, gathered by each district Federal Reserve Bank, and is published eight times per year. The newest report by the Fed on the state […]

On Steel Market Update’s most recent Community Chat, we caught up with Timna Tanners, managing director of Wolfe Research, to hear her latest take on the steel market.

Commercial Metals Co. (CMC) has secured a permit giving it the go-ahead to begin construction of its new micro mill in West Virginia. The Irving, Texas-based longs and scrap producer said on July18 the West Virginia Department of Environmental Protection granted it the permit, allowing for the commencement of construction of its “fourth technologically advanced micro […]

Olympic Steel has made leadership changes relating to the company’s fabrication growth strategy. The Cleveland-based metals service center said in a press release Tuesday that Edward ‘Max’ Fitzgerald has joined the company in the newly created role of vice president – fabrication. Fitzgerald will focus on strengthening the company’s “fabrication-related commercial presence, facilitating operational standardization, and […]

Commercial Metals Co. (CMC) has secured a permit giving it the go-ahead to begin construction of its new micro mill in West Virginia.

Every day, it seems, the headlines point to a general decline in the global situation. The more one reads, the more it becomes clear that our major issues are all interconnected. Addressing one will necessarily impact the others, either worsening or bettering them. Immigration is a prime example of this phenomenon. The two parties, and […]

AZZ Inc. reported an 18% increase in net income in its fiscal first quarter of 2024, driven by a strong performance in its Metal Coatings business and by a full quarter with its Precoat Metals acquisition. The Fort Worth, Texas-based galvanizer and coil coater posted net income of $28.5 million in its fiscal Q1 ended […]

US Trade Representative Katherine Tai will travel to Brussels next week to continue discussions on establishing a “Global Arrangement on Sustainable Steel and Aluminum” with the European Union. Ambassador Tai will be in Belgium on July 20-21 to speak with European Commission EVP Valdis Dombrovskis. This is their second meeting in July, the USTR press […]

U.S. Steel has announced environmental product declarations (EPDs) across three flat-rolled steel coil products melted at its Big River Steel Works in Osceola, Ark. The Pittsburgh-based steelmaker said Friday the offerings include hot-rolled, cold-rolled, and corrosion-resistant flat-rolled products from Big River Steel. “The EPDs provide quantifiable, independent, and audited environmental data on these core products,” […]

South Korean steelmaker Posco has big plans to increase its global production capacity, including the making of electrical steel in North America, according to local media reports. The Korea Times reported that Posco is planning to “build additional hyper non-oriented electrical steel factories in Korea and North America to produce 1 million tons of electrical […]

The ongoing drama with AHMSA continues, but the bankrupt Mexican steelmaker has finally put out an official statement. A spokesperson for the company has previously made statements to local media, but an official announcement has not been released by the company since April. On Wednesday, July 12, a statement was issued on the company’s Twitter […]

Jackson, Mich.-based Alro Steel said it plans to acquire Heimansohn Steel, a metals service center based in Clarksville, Tenn.  Alro’s aquisition is expected to close by July 28, the company said in a news release on July 11. “We are excited to welcome Heimansohn Steel to the Alro family. This acquisition will benefit our customers with […]

Steel Dynamics Inc. (SDI) last week announced a two- to four-week outage on the hot mill at its Sinton, Texas, flat-rolled mill. The company said on Friday, July 7, that the unplanned outage resulted from “caster shear equipment issues” that occurred on July 1, but that it will continue to operate the cold mill and coating lines. Steel Market Update has […]

Commercial Metals Co. (CMC) said on Monday that Barbara R. Smith, the company’s CEO and chairman, will retire as CEO effective Sept. 1, and will be replaced by Peter Matt, who will serve as CEO and president. The Irving, Texas-based longs producer and metal recycler said that Smith has been appointed as executive chairman, also effective […]

US-China relations have been in the news for at least the last five years. Cabinet officials are traveling to China, Chinese leaders are coming to the US, books are coming out and the European Union is dealing with the same quandary: should China be further isolated? Is the West too dependent on China? As I […]