Category: Region

What impact could the war in Iran have on the steel raw materials supply chain and prices?

Sheet and plate prices were flat or modestly higher this week, continuing a trend we’ve seen since the beginning of Q4. The big question: How much longer can the trend hold?

Winter is over now and the scrap landscape is looking a bit less challenging.

POSCO has reiterated its interest in expanding in the US market. The South Korean steelmaker also confirmed it remains in talks with Cleveland-Cliffs Inc.

U.S. Steel has confirmed the restart of the B blast furnace at its Granite City Works near St. Louis.

Raw steel production recovered for the second-consecutive week and is now just 14,000 short tons below the four-year high production rate witnessed in mid-February.

Could we see prices continue to inch higher, plateau, and then start to slide back? A lot hinges on whether and how long it takes mills to catch up on orders.

Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.

The latest count of operational drilling rigs declined in both the US and Canada this week, according to recently released data from Baker Hughes.

CR imports from Germany, Italy, and Japan on a landed basis remain much more expensive than domestic product. But South Korean imports remain competitive, in theory, even with the 50% Section 232 tariff.

APAC steel prices are expected to rise due to high energy and freight costs stemming from the Middle East conflict. Imports will remain subdued in the EU due to rising freight rates but are expected to pick up marginally in the USA.

U.S. Steel confirmed it is in the process of restarting one of its two Granite City Works blast furnaces. Local media reports suggest iron- and steelmaking will have resumed over weekend.

We just wrapped up another Steel 101 workshop. But this time, we had the privilege to take the most hands-on industry workshop on steelmaking and market fundamentals abroad.

Worthington Steel reported steady progress on its planned acquisition of Kloeckner & Co., calling the deal a major strategic step as steel markets show early signs of tightening in the US and remain under pressure in Europe.

Most steel buyers see prices continuing to inch higher on stable or improving demand. But some are concerned higher energy prices stemming for the Iran war could dent the overall economy.

The US Department of Commerce has launched two trade investigations to determine if certain corrosion-resistant (CORE) steel imports are being transshipped through Indonesia to avoid paying anti-dumping and countervailing duties (AD/CVDs).

The price gap between US hot-rolled coil (HR) and landed offshore product remained within a tight band this week. The dynamic continues as both stateside and offshore prices have trended higher.

Worthington Steel reporter lower FY Q3 earnings on what its CEO described as "challenging" macroeconomic conditions.

The galvanized sheet market continued to tighten in March as distributors and service centers reported firm demand, low inventory levels, and rising transportation costs. Participants on the monthly HARDI sheet metal and air-handling call on Wednesday described a market defined by constrained supply and steady upward pricing pressure.

Sheet prices continue to inch higher. And people who once thought hot-rolled coil (HR) prices couldn’t go above $1,000 are now saying $1,100 doesn’t seem out of the question.

The pace of sheet and plate price increases slowed this week, with most products holding at some of the highest levels seen in over a year.

The bulk scrap export market into Turkey is starting to form after several weeks of inactivity.

Mexico’s Ministry of Economy issued a preliminary ruling in its anti-dumping case on hot-rolled steel from China and Vietnam. The government found evidence of price discrimination and imposed provisional duties on a wide range of hot-rolled flat products, including coils, sheet, strip, and plate.

The public will soon have the opportunity to request Section 232 tariff coverage on imports of automobile parts.

Domestic mill production was estimated at 1.78 million short tons last week, near the four-year high set one month ago.

The layoffs at Algoma Steel’s integrated facility went into effect today. Going forward, it will use the electric arc furnace (EAF) for producing its steel.

A precipitous decline in nonbuilding starts led to an overall slowdown in total construction starts from January to February, even as the nonresidential and residential sectors showed marked improvement.

Construction spending edged down slightly in January, slipping for the first time in three months.

Oil and gas drilling in the US was basically steady in the week ended March 20, based on Baker Hughes' latest report on the number of rotary rigs in operation. Drilling in Canada, however, continued to slide, with the country seeing a steep decline in its rig count.

Plate market sources say the week has been quiet, but that overall, business remains consistent.