Category: Region

Hot-rolled (HR) coil and plate prices continued to tick higher even as cold-rolled (CR) and coated prices came in unchanged, according to SMU’s latest check of the market.

Target Steel and Target Metal Blanking are expanding into Mexico.

The Chicago Business Barometer decreased by 6.0 points to 56.7 in June.

After the domestic scrap market wrapped up the first half of the year on a positive note, will July follow suit?

Total US raw steel output declined last week for the third-consecutive week but remains historically strong.

As all these initiatives unfold, one is left with the feeling that disruption of the global order is their primary purpose. As the old order is destroyed, it is time to think carefully about what will take its place.

Both Steel Buyers’ Sentiment Indices continue to indicate that steel buyers are confident in their companies’ prospects today, as well as in the months ahead.

Hybar LLC broke ground Friday on its second rebar mill in Osceola, Ark., accelerating one of the fastest expansion runs the US long-products sector has seen in years.

CMC’s profits more than doubled in its fiscal third quarter.

Some hot-rolled coil buyers expect continued incremental price increases from domestic mills. Others expect steeper increases, even if it risks inviting imports.

The London Metal Exchange (LME) cash aluminum settlement price fell 12% between June 2 and June 18 after reaching its highest level in more than four years, while the US Midwest Premium moved lower from record highs established in late May.

Cold-rolled coil prices moved higher in the US this week, as offshore prices trended lower. Imports are, as a result, increasingly more competitive, even with the 50% Section 232 tariff.

“Ohio Strip Steel reflects who we are today and where we’re going,” the Dover, Ohio-based company said.

Consolidation continues in the HSS (hollow structural sections) sector, with two big deals announced just this month.

Steel mill lead times remained extended this week on both sheet and plate products. Current production times three to four weeks longer than levels seen last summer.

During Worthington Steel’s fiscal fourth-quarter earnings call on June 25, company executives cited interest rates as a market headwind.

Domestic steelmakers told the Congressional Steel Caucus that strong trade enforcement and Section 232 tariffs continue to drive higher production, new investment, and facility restarts nationwide.

Steel buyers negotiation rates remain at or near historic lows across most sheet and plate products.

The American Institute of Architects (AIA) said architecture billings showed signs of cooling in May, with the headline index reading notably below 50.

SMU’s average price for domestic HR was $1,145 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices moved down, largely maintaining a trend seen since late April.

The company announced an investment of more than $90 million for its steel shop in Koppel, Pa., and its seamless pipe manufacturing plant in Ambridge, Pa.

The investment will install a new quench-and-tempering line at the facility, which manufactures seamless pipe and tube.

Galvanized sheet buyers and distributors report that strong demand and constrained supply persist, exerting upward pressure on prices.

US sheet prices continue to move higher on extremely limited spot availability, solid demand, and extended lead times.

Mexico’s federal government is moving to implement its new steel-industry promotion pact. Officials held a high-level plenary session to align public procurement plans with domestic steel capacity.

Wells Fargo Managing Director Timna Tanners will join Steel Market Update (SMU) and Aluminum Market Update (AMU) for a Community Chat on Wednesday, June 24, at 11 am ET.

US raw steel production has eased over the past month following the multi-year high seen in May, according to recent American Iron and Steel Institute (AISI) data

CRU: Tight market balance will drive up US steel plate prices, while weak demand and lower CBAM costs will pull European prices down. Weather risks will shape Asian markets, from Chinese rain disruptions to uneven Indian monsoons.

Leeco Steel has announced changes to two regional operational manager positions.

Nucor announced on Monday, June 22, that its consumer spot price (CSP) for hot-rolled coil will be $1,130 per short ton for the week, up $5/st from last week.