Category: Mills

CMC’s profits more than doubled in its fiscal third quarter.

Consolidation continues in the HSS (hollow structural sections) sector, with two big deals announced just this month.

Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.

Domestic steelmakers told the Congressional Steel Caucus that strong trade enforcement and Section 232 tariffs continue to drive higher production, new investment, and facility restarts nationwide.

Steel buyers negotiation rates remain at or near historic lows across most sheet and plate products.

The company announced an investment of more than $90 million for its steel shop in Koppel, Pa., and its seamless pipe manufacturing plant in Ambridge, Pa.

The investment will install a new quench-and-tempering line at the facility, which manufactures seamless pipe and tube.

Galvanized sheet buyers and distributors report that strong demand and constrained supply persist, exerting upward pressure on prices.

US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.

Mexico’s federal government is moving to implement its new steel-industry promotion pact. Officials held a high-level plenary session to align public procurement plans with domestic steel capacity.

Total raw steel produced around the globe rebounded 3% in May to an estimated 157.9 million metric tons (mt), according to the World Steel Association (worldsteel).

SSAB Americas, the Greenbrier Companies, and Alter Trading have partnered on a project where recycled materials can be used to make near-zero emissions steel and returned to the supply chain.

US raw steel production has eased over the past month following the multi-year high seen in May, according to recent American Iron and Steel Institute (AISI) data

Nucor announced on Monday, June 22, that its consumer spot price (CSP) for hot-rolled coil will be $1,130 per short ton for the week, up $5/st from last week. 

As the US enters negotiations and possible annual reviews of the USMCA, policymakers should preserve the S232 tariffs, which have clearly been necessary to protect the US steel industry.

Steel Dynamics Inc. (SDI) said it expects to record a $16 million asset write-down in the second quarter after deciding to relocate a planned Aluminum Dynamics (ADI) recycled aluminum slab casting center from Benson, Ariz., to Columbus, Miss.

Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU. 

Steel Dynamics Inc. expects to post higher sequential earnings in the second quarter, with “meaningfully higher” profitability from its steel operations.

Nucor expects higher earnings in the second quarter, both sequentially and year over year, and anticipates increased profits sequentially across all its operating segments. The steel mills segment is expected to see the biggest boost.

Canada’s steel production dropped sharply in May, falling 15% year over year and running 14% lower year-to-date, according to Earth-i’s Savant Global Monitoring Index. May’s production was just under 900,000 metric tons.

Apparent steel supply eased from March to April on reduced mill shipments per recent Department of Commerce and American Iron and Steel Institute (AISI) data.

Bull Moose Tube Co. and Hanna Steel Corp. have reached an acquisition agreement, which will expand Bull Moose’s manufacturing footprint and add new tubing, coating, and logistics capabilities.

U.S. Steel has selected Charlotte, N.C.-based Midrex Technologies to supply the direct-reduced iron (DRI) plant to its Big River Steel Works in Osceola, Ark.

Nucor Plate Group will maintain its previously announced fuel surcharge of $10 per short ton for next month, effective on all shipments beginning July 1.

The volume of raw steel produced by US mills slipped to a seven-week low last week but remains historically high, according to American Iron and Steel Institute (AISI) figures released on Monday.

Nucor announced on Monday, June 15, that its consumer spot price (CSP) for hot-rolled coil will be $1,125 per short ton (st) for the week, up $10/st from last week.

Summer doldrums? Not this year! SMU’s latest steel market survey indicates that an increasing number of steel buyers think prices will continue to rise along with the mercury.

Steel mill lead times extended this week on both sheet and plate products, now at multi-year highs.

One possible reason for the lull in activity is the ambiguity of the tariff treatment of Brazilian pig iron following an announcement last week from the Office of the US Trade Representative (USTR) about Section 301 tariffs.

This week we saw continued low negotiation rates across all products, with cold rolled and plate the least negotiable and galvanized the most.