On April 21, Steel Market Update will conduct our first Galvanized Steel Hedging Workshop. This half-day workshop will be done through our virtual platform. The main instructor will be Spencer Johnson of StoneX, who will be accompanied by someone from the CME Group and from CRU, which generates the index used by the CME for […]
Plate from South Korean steelmaker Hyundai is being offered for $980-1,020 per ton ($49-51/cwt) for third-quarter delivery to U.S. ports, according to market participants. The lower end of that range is representative of the delivered duty paid (DDP) price to Gulf Coast ports. The higher end of the range is for delivery to West Coast […]
The U.S Department of Commerce has decided to continue antidumping duties on cut-to-length plate imported from China, Russia and Ukraine as part of the “sunset review” process. China will remain subject to dumping margins of up to 128.59%, Russia to dumping margins of as much as 185% and Ukraine to margins of up to 237.91%, […]
Last week, we conducted one of our flat rolled and plate steel market trends analyses. Or, to put it another way (that the search engines don’t like), we conducted one of our surveys that we do ever other week. We invited over 500+ market participants, most of whom are steel buyers in the manufacturing and […]
As expected, ferrous scrap prices for March settled up $50 per ton for obsolete grades and up $70 per ton for prime grades in most parts of the U.S., reported Steel Market Update sources. April scrap is likely to remain relatively unchanged. “Looking forward, I don’t see downside for prime grades in April. Depending on […]
Obsolete scrap prices are widely expected to decline in April, while prime scrap prices move sideways, predict Steel Market Update sources. Ferrous scrap prices saw a big jump in March, adding to the upward momentum on finished steel prices, but the April effect is shaping up to be more moderate. “Growing obsolete scrap availability caused […]
Ferrous scrap prices have traded flat to down in April following a big jump in March. Steel Market Update sources report the price for obsolete grades down $20/GT, while prime grades traded sideways. The price for shredded scrap is about $430/GT delivered to the mills in the Midwest and South. Prime grades are around $130-140 […]
Availability from domestic sheet mills is getting worse again after briefly improving last month, according to some market participants. The trend follows winter storms taking out production at electric-arc furnace (EAF) producers in the southern U.S. in February and ahead of a raft of upcoming maintenance outages in the second and third quarter, sources said. […]
U.S. Steel plans to take a 25-day outage in May on the No. 1 blast furnace at its Mon Valley Works in western Pennsylvania, a company spokeswoman confirmed. The outage is part of the steelmaker’s normal maintenance program, she said. The maintenance is to apply shotcrete–a sprayed concrete–and other standard upkeep, sources said. Smaller outages are planned […]
Altos Hornos de México (AMSA) has resumed normal operations at its No. 5 blast furnace following a temporary outage last month, a company spokesman said. The No. 5 furnace had to stop for two days because of severe weather and a natural gas shortage. The Mexican flat-rolled steelmaker last month said that it had lost […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
Algoma Steel Inc. aims to raise sheet and plate prices by $40 per ton ($2/cwt) effectively immediately for new spot orders. The price hike applies equally to hot-rolled coil, cold-rolled coil, as-rolled plate and heat-treated plate, the Canadian flat-rolled steelmaker said in letters to customers on Friday, March 5. Published extras will also be applied to […]
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […]
With negotiations still ongoing this week, it appears ferrous scrap prices will see a big jump in March, as was widely expected. Steel Market Update sources reported that scrap pricing announced in Detroit today was up $70 per ton on prime grades and up $50 per ton on obsoletes. Other regions of the country are […]
Registrations for the 2021 SMU Steel Summit Conference have topped 200 and counting. We continue to work toward having a live in-person conference in Atlanta on Aug. 23-25. We are heartened to hear President Biden speak to having enough vaccine to inoculate the entire U.S. population by the end of May. If true, that gives […]
Registrations for the 2021 SMU Steel Summit Conference have topped 200 and counting. We continue to work toward having a live in-person conference in Atlanta on Aug. 23-25. We are heartened to hear President Biden speak to having enough vaccine to inoculate the entire U.S. population by the end of May. If true, that gives […]
SSAB Americas raised some eyebrows in the steel market when it officially announced a “scrap collar” along with an $80-per-ton ($4/cwt) plate price increase earlier this week. The move, while not unheard of in the steel market, is not necessarily typical for standard spot market plate orders, some buyer sources said. An SSAB Americas spokeswoman […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
John Packard founded Steel Market Update in 2008 after spending 31 years actively selling steel in the service center, steel mill and trading company segments of the industry. He is currently President & CEO of Steel Market Update which was sold to CRU in 2018. Steel Market Update is a leader in collection of market […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held tomorrow, Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
Mark your calendars as Steel Market Update has a wide array of conferences and workshops scheduled through the month of August 2021. Here is what you can expect: March 30 & 31: Steel Hedging 101: Introduction to Managing Price Risk (virtual) At the end of this month, Spencer Johnson of StoneX, the CME Group and […]
United Steelworkers (USW) union members have voted to ratify a new labor contract with NLMK USA, ending a strike that began more than six months ago. There were 276 votes cast in favor of the new four-year contract and 103 against it, USW District 10 Staff Representative Todd Clary told Steel Market Update on Monday, March […]
SSAB has increased plate prices by $80 per ton ($4/cwt) for U.S. customers and C$100 per ton for customers in Canada. The price hike is effective immediately and applies to all new non-contract orders of as-rolled mill plate, cut-to-length plate more than 72 inches wide, hot rolled coils more than 72 inches wide, normalized plate […]
U.S hot-rolled coil import volumes are at their highest level in at least two years–and import data for February is not yet complete. The U.S. is poised to import at least 162,357.3 metric tonnes of hot-rolled coil in February, according to import license data last updated by the Commerce Department on Wednesday, Feb. 24. That […]
JSW Steel USA resumed operations at its Baytown, Texas, plate and pipe mill on Feb. 25–earlier than expected, the company’s top executive said. And the steelmaker remains on track to begin melting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, in March, JSW Steel USA CEO Mark Bush told Steel Market Update. “We […]
JSW Steel USA resumed operations at its Baytown, Texas, plate and pipe mill on Feb. 25–earlier than expected, the company’s top executive said. And the steelmaker remains on track to begin melting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, in March, JSW Steel USA CEO Mark Bush told Steel Market Update. “We […]
Evraz North America has followed Nucor in increasing plate prices by at least $70 per ton ($3.50/cwt). The steelmaker said that the increase–$90 CAD for customers north of the border–was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to letters to customers on Feb. […]
“Life at Cleveland-Cliffs has been intense,” said CEO Lourenco Goncalves, referring to a pandemic-challenged year in 2020 and major changes to what just one year ago was an iron ore company. “Without question, 2020 was the most transformational year in our company’s 173-year history,” said Goncalves. “We completed two seminal acquisitions, AK Steel and ArcelorMittal […]
Nucor has increased plate prices by $70 per ton ($3.50/cwt) effective immediately. The steelmaker’s new ex-works base price for cut-to-length Grade A36 plate is now $1,090 per ton, up from $1,020 per ton a month ago. The new base price for quenched-and-tempered A514 Grade B is $1,340 per ton, up from $1,270 per ton in […]
Nucor has increased plate prices by $70 per ton ($3.50/cwt) effective immediately. The steelmaker’s new ex-works base price for cut-to-length Grade A36 plate is now $1,090 per ton, up from $1,020 per ton a month ago. The new base price for quenched-and-tempered A514 Grade B is $1,340 per ton, up from $1,270 per ton in […]