Category: Product

Ryerson's earnings slumped in the second-quarter on-year but swung to a profit from the first quarter.

The prices for the July market weren’t settled until July 8 and now we are approaching the formation of the August market.

Nucor has lowered the 2024 production estimate for its Brandenburg, Ky., plate mill due to soft market conditions.

Operating income from Steel Dynamics Inc.’s (SDI) recycling operations clocked in higher in the second quarter than in the first on increasing volumes and despite lower realized pricing. Recycling operations brought in $32.1 million, an increase over $22.6 million in Q1, but lower than the $40.3 million last year, the Fort Wayne, Ind.-based company said […]

Sheet steel buyers continue to report that mills are willing to talk price on new orders, according to our most recent survey data collected this week.

The spread between hot-rolled coil (HRC) and prime scrap prices  narrowed for the third consecutive month, hitting a level not seen since 2020, according to SMU’s most recent pricing data.

New England’s All-Steel Fabricating announced the launch of its new road plate rental service.

Scrap prices came in mostly sideways in July, with prime scrap prices edging down while shredded and HMS tags ticked up slightly, scrap sources told SMU. They believe a bottom has been reached in the market.

Global Plate prices declined in all regions this week amid slow seasonal demand. With bearish outlooks on demand in the near term, market participants are watching how mills will react to low order entry levels and short lead times. In the US and China, production has been steady, but in Europe, steel mills are contemplating […]

Longs producer and metal recycler CMC plans to open a new rebar fabrication plant in Akron, Ohio.

The ferrous scrap export market on the Atlantic and Gulf Coasts of North America has maintained its pricing for several months despite continuing declines in domestic markets.

The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.

US sheet prices saw a similar pattern this week, customary for much of the year – new week, lower prices. Domestic tags moved lower this week, aligning with the typically slower summer period – but maybe a further indication of dwindling demand.

First off, we hope everyone had a safe and happy July 4th holiday, with fireworks seen and BBQs attended. Many parts of the country are quite toasty at the moment, signaling that, yes, summer has indeed arrived. And looking at our most recent survey results, the summer doldrums have arrived as well.

US drill rig activity moved back up last week after drifting lower for four straight weeks. Meanwhile, Canadian counts slipped for the first time after a seven-week rally, according to the latest data from Baker Hughes.

North America has one of the most robust steel scrap markets in the world. The continent has a long history of steel production, significant imports of steel and steel-containing products, and mature steel consumption. Due to this, the reservoir of scrap available to be recycled each year in the US and other North American markets is substantial and growing.

Domestic steel shipments increased in May month over month but have fallen on-year.

After celebrating the July 4th holiday, let’s have a look back at the first half of 2024.

Sheet steel buyers found mills more willing to negotiate spot pricing this week, according to our most recent survey data.

Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]

US sheet prices moved lower again this week, continuing a trend seen since early April. The slowdown aligns with the typical summer doldrums, when lax demand and shorter lead times often take center stage. The current market is also characterized by ample supply and concerns about restocking – especially with few signs of a bottom […]

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.

US drill rig activity eased for the fourth consecutive week last week, while Canadian counts increased for the seventh week in a row, according to the latest data release from Baker Hughes.

Low global sheet demand continued to weigh on prices around the world this week. In the US, mills were forced to remain aggressive to secure orders during this period of demand weakness. And compounded by recent new capacity ramp-ups, has forced US hot rolled (HR) coil prices down closer to levels seen in offshore markets. […]

Sources contacted by RMU have delivered a bleak forecast for the market’s direction in July, potentially extending into August.

US sheet prices continued to drift lower this week on lackluster demand, short lead times, and ample supply. SMU’s hot-rolled (HR) coil price now stands at $670 per short ton (st) on average, down $15/st from last week. Hot band is down $175/st from a recent high of $845/st in early April. It is also […]

JSW Steel USA plans to invest $110 million in steel plate mill modernization projects with sustainable technology in its Baytown, Texas, facility.

US drill rig activity eased again last week, now down to levels not seen since late-2021, according to the latest data release from Baker Hughes. Canadian counts are moving in the opposite direction, inching higher for the sixth consecutive week to a three-month high.

Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]

The US scrap market is quiet as we pass through June. Speculation about the direction of July is mixed, with most sentiment neutral or bearish. The concerns are about demand during the summer months. There are still several planned outages and other cutbacks at various mills that could limit overall demand for recycled steel scrap.