The American Institute for International Steel reports that steel imports dropped sharply from October to November, falling below their year-ago level. The United States imported 2.76 million net tons of steel in November, 11.4 percent less than the preceding month and 1.6 percent less than the previous November. Imports from the three biggest suppliers of […]
The January buy period saw ferrous scrap prices move significantly higher, lending support to recent mill price increases. While February is historically a down month for scrap, sources predict that February prices will be as high or even higher than January’s. January ferrous markets ended higher by $30 per gross ton for obsolete grades and […]
President Trump’s plan to revive the coal industry received a blow on Monday when the Federal Energy Regulatory Commission rejected a proposal by Energy Secretary Rick Perry to subsidize certain power plants. Perry’s proposal on grid reliance and reliance pricing recommended regional transmission organizations and independent system operators compensate plants that maintain 90-day fuel supplies […]
Steel Market Update anticipates conducting five Steel 101 workshops during calendar year 2018. Our January workshop scheduled for Mobile, Ala., later this month is sold out. Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop will be held in Merrillville, Ind., on March 28-29, 2018. The two-day session will include […]
The Nucor Plate Group has increased transaction prices on all new orders for carbon, alloy and heat-treated plate by $50 per ton, effective immediately on any new or unconfirmed orders. Nucor’s Jan. 5 price hike follows on a $50 per ton increase announced Dec. 6 and a $40 per ton increase announced Nov. 15 on […]
Following on the $40 per ton price hikes by most domestic mills earlier this week, ArcelorMittal USA announced the following minimum prices on its carbon steel sheet products today: hot rolled, $720/ton; cold rolled, $900/ton; and hot-dipped galvanized, $900/ton. The new prices are effective immediately on all new and unconfirmed orders with ArcelorMittal USA and […]
AK Steel and NLMK USA raised spot market base prices on all carbon flat-rolled steel prices by $40 per ton today, matching similar $40 hikes on hot rolled, cold rolled and galvanized steel products yesterday by Nucor and U.S. Steel. All four companies said the increase is effective immediately on new orders and will not […]
Olympic Steel’s commitment to ethical behavior is as much about how employees should treat each other as it is about how the company should conduct business with the outside world, says company Chairman and CEO Michael Siegal. Employees communicate periodically with customers and vendors, but they interact with each other every day, so what happens […]
The American Iron and Steel Institute welcomed Canada’s integrated steel company Stelco to its membership at AISI’s recent board meeting in Washington, D.C. “With its significant presence in North America, Stelco will be a great partner in our continued advocacy to fight unfairly traded foreign imports and level the playing field for the North American […]
Union Partners announced the acquisition of Heidtman Steel’s Automotive Steel Technical Center in Gibraltar, Mich. Union will use the steel testing and research facility to bring new advanced high-strength and ultra-high-strength steels to the marketplace. The acquisition also provides the opportunity for future expansion to over 150,000 square feet at the company’s existing Gibraltar facility. […]
The year 2017 proved a bit “odd” as the threat of political action against foreign steel worked against the domestic steel mills. Early in the year, newly crowned President Trump authorized the U.S. Department of Commerce, led by former steel magnate Wilbur Ross, to investigate if the steel industry is essential to the U.S. for […]
Construction firms are encouraged by recent regulation cuts and passage of the tax reform bill. The Associated General Contractors of America notes that firms are adding jobs in anticipation of stronger market conditions in 2018. Between October and November, 39 states added construction jobs. Forty states added construction jobs between November 2016 and November 2017. […]
Domestic steel orders are strong and flat roll prices are on the rise, which means demand from the mills is likely to push ferrous scrap prices higher in January. “All things are pointing up for ferrous scrap,” said a dealer in the Northeast. Obsolete grades should rise in higher proportions than primes, but all grades will […]
The ArcelorMittal Georgetown wire rod steelworks will get new life under Liberty House, part of the global metals and energy group GFG Alliance, which announced on Monday it has completed the acquisition of Georgetown. The mill includes an electric arc furnace with a capacity of 540,090 metric tons per year and a 680,000-ton annual capacity […]
Union workers at AK Steel Dearborn have ratified a new contract covering 1,180 employees through July 31, 2021. Hourly production and maintenance workers at Dearborn are represented by the United Auto Workers, Local 600. AK Steel CEO Roger Newport said, “We are pleased to have reached an agreement with our hourly employees at Dearborn Works. […]
Steel Market Update’s next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop will be held in Merrillville, Ind., on March 28-29, 2018. The two-day session will include a tour of the NLMK USA steel mill. • Do you have new employees who would benefit from learning about steel making (EAF and Integrated Process), […]
Our team has been working diligently on our 2018 SMU Steel Summit Conference. We have expanded the space we are using at the Georgia International Convention Center, we have changed the space that will be used for breaks and for our exhibitors, and we have expanded the audio/visual segment of the program as we continue […]
Both flat rolled and plate steel distributors saw only a very modest drop in inventories as of the end of July. Inventories continue to be “balanced” at 2.7 months of supply on flat rolled and 2.1 months of supply on plate, according to Steel Market Update’s proprietary inventory data. Flat Rolled Spread Tightens Although our […]
Ratner Steel has purchased a new 5/8th-inch 76-inch-wide stretcher leveler from Red Bud Industries for its Osceola, Ark., service center, to be delivered in fourth-quarter 2018. “We are very excited with this new opportunity,” said Mark Ratner, owner and CEO. “Our belief is that this region of the country has significant potential for a flat […]
Mark Sendar has joined CENTRIA, a producer of architectural metal wall and roof systems, as the new Vice President of Sales. Sendar has 20 years of leadership in sales, distribution, pricing and customer care at Overhead Door Corp., most recently as Vice President, Customer Care, Pricing & Events and Oracle CX Solution Lead. “It’s rare […]
Olympic Steel has signed a new $400 million credit agreement that gives the service center additional resources for future growth. “The increased borrowing capacity and more favorable terms provided by this agreement underscore the confidence our lenders have in our business. The low-cost capital structure enhances our flexibility and positions us well for both internal […]
The United States, European Union and Japan have issued a joint statement agreeing to work together in the World Trade Organization and elsewhere to address excess capacity in key sectors. Cecilia Malmström, European Commissioner for Trade, Hiroshige Seko, Minister of Economy, Trade and Industry of Japan, and Ambassador Robert E. Lighthizer, United States Trade Representative, […]
AK Steel was the latest mill to climb on the price-hike bandwagon with its announcement yesterday of a $30 per ton increase on spot market base prices for all carbon flat-rolled steel product, effective immediately on new orders. AK Steel’s move follows on similar announcements in the past several days from other leading steelmakers, including […]
This analysis breaks down the imported tonnage of six flat rolled products into the district of entry and the source country. We believe that misinformation (or lack of) about regional import volumes is often used to influence purchase decisions. Our intent with this analysis is to describe in detail what is going on in a […]
USS-POSCO is the latest flat roll mill to announce a price increase. In a letter to customers today, the mill said that, effective immediately, it is raising base prices on all sheet products by a minimum of the following: Hot Rolled P&O, $30 per net ton; Cold Rolled, $30 per net ton; and Galvanized, $30.00 […]
ArcelorMittal, California Steel Industries, NLMK USA and U.S. Steel all announced $30 per ton price increases on Friday. Their announcements follow on a similar hike by Nucor earlier this week. In a letter to customers, U.S. Steel’s North American Flat-Rolled Sales Organization stated that, effective immediately, it was increasing base pricing for all new flat-rolled […]
Construction employment increased to its highest level in November since 2008, said the Associated General Contractors after analyzing new government data. Construction employment totaled 6,955,000 in November, a gain of 24,000 for the month and 184,000 over 12 months. The year-over-year growth rate in industry jobs was nearly twice the 1.4 percent rise in total […]
On the heels of Wednesday’s $50 per ton increase on carbon plate prices, Nucor today announced an additional $30 per ton increase on hot rolled, cold rolled and galvanized steel products. In a letter to customers, Nucor’s Sheet Mill Group said the price increases are effective immediately on new and unconfirmed orders. SSAB Americas and […]
Steel Dynamics said it is pleased with Commerce Department’s affirmative determination in the circumvention investigation against flat roll steel from China processed into cold roll and corrosion-resistant steel in Vietnam. In a preliminary ruling, Commerce determined that the processing done by Vietnamese companies to Chinese substrate was not sufficient to change the steel’s country of […]
The Department of Commerce issued an affirmative final determination in the antidumping investigation of carbon and alloy steel wire rod imports from Belarus, the Russian Federation and the United Arab Emirates. The following dumping margins were assigned: Belarus: 280.02 percent Russia: 756.93 percent for Abinsk Electric Steel Works Ltd. and JSC NLMK-Ural, and 436.8 percent […]