Nucor Tubular Products announced on Monday a $27.2 million expansion for its Trinity, Ala., division that will include new production, finishing, processing and packaging equipment, and hiring of additional workforce to support the new operations. The expansion will allow Nucor Tubular Products to produce 1″ through 8″ A135/795 sprinkler pipe Schedule 10 and Schedule 40; […]
Steel Market Update, in partnership with the Steel Manufacturers Association, is now accepting nominations for the new SMU NexGen Leadership Award. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North […]
Lodging is filling up fast for Steel Market Update’s Steel Summit, scheduled for Aug. 26-28 in Atlanta. We are working to extend our room blocks at the nearby event hotels, but in some cases full racks rates of nearly $400 per night may apply. Event hotels include the Atlanta Airport Marriott Gateway, SpringHill Suites Gateway, […]
Steel Market Update, in partnership with the Steel Manufacturers Association, is now accepting nominations for the new SMU NexGen Leadership Award. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North […]
U.S. steelmakers have announced plans to reinvest their recent windfall profits in various mill upgrades and expansions, which in total could add 20 million tons of capacity to the market. How will all that new steelmaking capacity impact steel supplies and prices in the next five years? The experts disagree. Some believe it’s inevitable that […]
U.S. steelmakers have announced plans to reinvest their recent windfall profits in various mill upgrades and expansions, which in total could add 20 million tons of capacity to the market. How will all that new steelmaking capacity impact steel supplies and prices in the next five years? The experts disagree. Some believe it’s inevitable that […]
Steel Market Update is pleased to announce the new SMU NexGen Leadership Award in partnership with the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North America, SMU is […]
Nucor Corp. and AK Steel were each recognized as a Supplier of the Year for Non-Fabricated Steel at General Motors’ 27th annual awards ceremony in Detroit on May 15. Recipients are chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Winners were selected based on performance criteria in Product Purchasing, […]
Rail transport is a critical link in getting steel to market. With domestic mills cranking out steel at more than 80 percent of their capacity, are the railroads struggling to keep up? “People assume our business should be booming, but it’s not as straightforward as one would think,” said JR (Jim) Schaaf, Group Vice President […]
On Friday, May 17, President Trump concurred with findings by the Commerce Department that imports of automotive vehicles and parts threatened to impair national security. As a result, the President directed the U.S. Trade Representative to pursue negotiation of agreements with the EU and Japan, and any other country the Trade Representative deems appropriate, to […]
The Washington Post reports that the U.S. has agreed to lift steel and aluminum tariffs on Mexico and Canada in 48 hours in return for tougher measures to prevent Chinese steel from entering the U.S. via Canada or Mexico. According to sources, the agreement does not include previously discussed quotas for the two North American […]
Registrations continue for the 2019 SMU Steel Summit Conference, with nearly 500 individuals representing 213 companies registered. Here is a listing of the companies registered as of Thursday afternoon. Note that those companies with an * after their name means more than one person is attending. If your company is missing, or if you have […]
Steel Market Update is pleased to announce the new SMU NexGen Leadership Award in partnership with the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North America, SMU is […]
Steel Market Update is pleased to announce the new SMU NexGen Leadership Award in partnership with the Steel Manufacturers Association. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North America, SMU is […]
By Paul Lowrey Editor’s note: Paul Lowrey is an industry consultant and president of Steel Research Associates, LLC. He will be a featured speaker at the upcoming Steel Market Update Steel Summit Aug. 26-28 in Atlanta. Click here for more information and to register for the summit. Recent announcements of new flat rolled capacity have […]
By Paul Lowrey Editor’s note: Paul Lowrey is an industry consultant and president of Steel Research Associates, LLC. He will be a featured speaker at the upcoming Steel Market Update Steel Summit Aug. 26-28 in Atlanta. Click here for more information and to register for the summit. Recent announcements of new flat rolled capacity have […]
Ferrous scrap prices are down again in May by roughly $30 for obsolete grades and $40 for prime grades, report Steel Market Update sources. May marks the fourth month this year that has seen scrap prices decline. With the mills reportedly cranking out steel at over 80 percent of their capacity, the apparent weakness in […]
Construction employment increased by 33,000 jobs in April and by 256,000 or 3.5 percent over the past 12 months, while the number of unemployed jobseekers with construction fell to a record low for April, according to an analysis of new government data by the Associated General Contractors of America. Association officials said the unavailability […]
When I was in Atlanta, the questions on the minds of the members of the Association of Specialty Cold Rolled Steel Producers were connected to trying to get a better handle on this market. The questions were less about the direction of flat rolled prices, but rather why are steel prices tumbling with Section 232 […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The Bureau of Industry and Security (BIS), the Commerce office handling the 232 steel tariff exclusion requests, recently denied requests from California Steel Industries (CSI), Allegheny Technologies, Inc. (ATI) and Novolipetsk Steel (NLMK). As users of semifinished steel, […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: President Trump’s Twitter finger twitched on Sunday. He announced via his favorite social media platform that he has grown tired of China’s stalling. He will increase the 10 percent tariffs on goods imported from China to 25 percent […]
Like the mills, service centers enjoyed robust returns in 2018. With one quarter in the books, it appears this year is setting up to be more challenging. Steel Market Update has recruited three of the industry’s top distribution execs to share their perspectives on steel demand in 2019 during SMU’s Steel Summit Aug. 26-28 in […]
Like the mills, service centers enjoyed robust returns in 2018. With one quarter in the books, it appears this year is setting up to be more challenging. Steel Market Update has recruited three of the industry’s top distribution execs to share their perspectives on steel demand in 2019 during SMU’s Steel Summit Aug. 26-28 in […]
We thought it would be a good idea to share the agenda of a typical Steel 101: Introduction to Steel Making & Market Fundamentals workshop so you can get a feel for what we cover. Our instructors each have decades of steel experience as metallurgists, purchasing experts, sales, marketing and market intelligence. Our next workshop […]
Nucor Corporation announced today that Chief Digital Officer and Executive Vice President, R. Joseph Stratman, plans to retire on June 8, 2019 after more than 29 years of service with Nucor. Mr. Stratman began his career with Nucor in 1989 as Controller of Nucor Building Systems-Indiana. He then served as Controller of Nucor-Yamato Steel Company, […]
Editor’s note: The following analysis by Alex Lawson of Law 360 describes the American Institute for International Steel’s position on its filing Monday with the U.S. Supreme Court. The legal push to strike down the Cold War-era law used by President Donald Trump to set tariffs on national security grounds unexpectedly shifted to the U.S. […]
By CRU Analyst Michelle Liu Turkish prices have continued to fall, down $7 /t w/w for the week ending Friday, April 12, to $305 /t CFR for HMS 80:20. Warmer weather has increased supply in the U.S. and Europe, placing downward pressure on scrap prices there. This was compounded by reduced scrap demand on both […]
The steel industry is on the brink of a capacity boom as mills reinvest their record profits in dozens of mill additions and upgrades. What will that mean for steel supply and prices in the coming years? Who better to answer that question than the chief executives from four of North America’s leading steel producers—JSW […]
The steel industry is on the brink of a capacity boom as mills reinvest their record profits in dozens of mill additions and upgrades. What will that mean for steel supply and prices in the coming years? Who better to answer that question than the chief executives from four of North America’s leading steel producers—JSW […]
We saw weakness in a number of the products we index this week. We are not seeing a collapse of the market, and as we discuss in another article in tonight’s issue, there are regional and product differences. The various products are not working in concert right now. We moved our Price Momentum Indicators on […]