Category: Region

For the week ended Nov. 10, active rig counts in the US dropped while inching up in Canada, according to Baker Hughes.

There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.

ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.

Several past columns in SMU have included comments about the futures forward curve, using terms like contango and backwardation

Hot-rolled coil (HRC) tags continue to rally in the US, broadening the price disparity between domestic and imported offshore product.

Canadian flat-rolled steelmaker Stelco recorded a drop in third quarter profits on lower steel prices and sales volumes. The Hamilton, Ontario-based company predicted that volumes would be lower still in the fourth quarter. But it also said that financial results would improve next year on higher prices and longer lead times.

It was sort of like the UAW strike. It started out small. Then got big fast. Below is a timeline of the steelmakers’ target HRC prices since the spot market bottomed out in late September.

Declining demand and a challenging economic environment impacted Gerdau’s shipments in North America during the third quarter.

The Dodge Momentum Index (DMI) increased in October thanks to stronger commercial activity, according to the latest Dodge Construction Network (DCN) data.

Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource has acquired a 55-acre rail-served tract near the Port of Houston to expand its metal recycling operations along the Gulf Coast.

You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]

The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne.

Baker Hughes' active rig counts for the week ended Nov. 3 dropped in the US but remained steady in Canada.

The American steel industry is the backbone of the US economy and produces the cleanest steel in the world.

There was consensus that steel prices would crash on the UAW strike and then rebound just as sharply once the union and the “Big Three” automakers reached tentative deals.

Klöckner & Co. said it has agreed to acquire South Carolina-based fabricator Industrial Manufacturing Services (IMS) through US subsidiary Kloeckner Metals Corp.(KMC).

Klöckner & Co. posted a narrower net loss in the third quarter as the Duisburg, Germany-based service center group touted the expansion of its North American footprint.

Construction spending edged higher in September, but a shortage of workers continues to constrain project completion rates, according to the Associated General Contractors of America (AGC).

US hot-rolled coil (HRC) tags moved higher again this week, widening the gap in pricing between imported offshore product.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.

Manufacturing activity in the US contracted once again during the month of October.

Latin American flat-rolled steelmaker Ternium is seeing strong demand in Mexico, its main market. With its new mill in Pesquería, Mexico, up and running, more lines there set to come online, and the company now holding an increased stake in Brazilian mining and steel company Usiminas, Luxembourg-based Ternium is optimistic about the future direction of the company.

Ryerson saw lower sales and shipments in the third quarter and is anticipating further declines in the last quarter of the year.

Canadian union Unifor has reached a tentative agreement with automaker Stellantis, ending the strike at all member-represented facilities.

SSAB reported lower earnings in the third quarter on weaker demand in Europe that was only partially offset by solid demand for plate in North America.

The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023.

The active rig count for the week ended Oct. 27 inched up in the US but edged down in Canada, according to oilfield services provider Baker Hughes.

These were the headlines hot off the press Wednesday night:

Mill lead times for flat-rolled products pushed out this week once again across the board.

ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.