Category: Market Segment

Cleveland-Cliffs is pushing back the reline of the C blast furnace at its Burns Harbor steel mill in northwest Indiana.

Nucor reported sequentially higher second quarter earnings but warned that results would be worse in the third quarter. "We expect earnings in the third quarter of 2023 to decrease compared to the second quarter of 2023," the company said in comments released with Q2 earnings results on Monday, July 24.

Nucor reported sequentially higher second quarter earnings but warned that results would be worse in the third quarter. “We expect earnings in the third quarter of 2023 to decrease compared to the second quarter of 2023,” the company said in comments released with Q2 earnings results on Monday, July 24. The Charlotte, N.C.-based steelmaker posted […]

Cleveland-Cliffs swung to a profit in the second quarter after losing money in the first. The Cleveland-based steelmaker and iron ore miner predicted that the good times would continue to roll into the second half on what is said was continued strength in automotive demand. “While the performance of our automotive clients continues to improve, […]

US raw steel production rose a second consecutive week, according to data released by the American Iron and Steel Institute (AISI) on Monday, July 24. Steel production in the US rose to 1,741,000 net tons for the week ended July 22, up 1.5% from 1,716,000 the previous week. Domestic production is also up 1.2% year-over-year from 1,721,000 net […]

In 2021, the US and EU called a timeout on their disputes about the US “national security” steel and aluminum tariffs and the resulting retaliatory measures by the EU. The agreement back then rescinded the Section 232 tariffs and replaced them with a “tariff-rate quota” that allowed a measure of tariff-free trade. In exchange, the […]

Dennis Leebow, the founder and former president and CEO of Cleveland-based, family-owned service center Majestic Steel USA, passed away on July 12, 2023, at the age of 72. Leebow was a graduate of the Ohio State University. He worked as a salesman at his grandfather’s company, Baldwin Steel, before embarking on his own adventure and […]

SMU's Current and Future Steel Buyers Sentiment Indices are at parity, with current level and future ticking up, according to our most recent survey data.

Lock Joint Tube will supply steel tubing to solar energy company Array Technologies from a new mill in Texas.

Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. is taking advantage of opportunities in the Mexican steel market and plans to continue doing so moving forward. Executives discussed some of those opportunities on the company’s second-quarter earnings conference call on Thursday, July 20. The location and capabilities of SDI’s newest flat-rolled steel mill in Sinton, Texas, […]

With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of the policy resulting in its continuation, it is clear that it has had a positive impact on parts of the industry. However, there are also a handful of knock-on effects that have become apparent.

Steel Manufacturers Association (SMA) president Philip K. Bell will be joining as a panelist and presenter at the 2023 SMU Steel Summit Conference Aug. 21-23 in Atlanta. “I’ve been attending Steel Summit for over a decade, and each year it gets bigger and better,” Bell said in a sitdown with SMU. This year he will […]

The active rig count in the US and Canada dropped in both countries, according to the latest data from oilfield services company Baker Hughes. The total US rig count stood at 669 active rigs as of July 21, down six from the week prior. Active oil rigs in the US decreased by seven to 530, while […]

Dennis Leebow, the founder and former president and CEO of Cleveland-based, family-owned service center Majestic Steel USA, passed away on July 12, 2023, at the age of 72.

US Trade Representative (USTR) Katherine Tai and a lead European Commission official met on Thursday in Brussels to discuss the Global Arrangement on Sustainable Steel and Aluminum, according to a press release from the USTR. In her meeting with EC EVP Valdis Dombrovskis, “Ambassador Tai stressed the importance of both sides generating ambitious proposals in […]

While a weak European market is hampering SSAB’s quarterly results, the US market is providing more stability for the Swedish steelmaker. SSAB Americas’ second-quarter performance, together with those of the company’s Special Steels segment, provided a bright spot for the company despite the woes in Europe. SSAB produces steel plate at its US operations in […]

Fort Wayne, Ind.-based steelmaker Steel Dynamics Inc. is taking advantage of opportunities in the Mexican steel market and plans to continue doing so moving forward.

While a weak European market is hampering SSAB’s quarterly results, the US market is providing more stability for the Swedish steelmaker.

US Trade Representative (USTR) Katherine Tai and a lead European Commission official met on Thursday in Brussels to discuss the Global Arrangement on Sustainable Steel and Aluminum, according to a press release from the USTR.

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.

We've reached approximately 1,100 registrations for SMU's 2023 Steel Summit Conference, which is only 31 days away. There's still plenty of time to register, just click here.

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 […]