Category: Region

GrafTech International Ltd. gained sequential improvement in the second quarter.

Economic activity in the US manufacturing sector contracted for the ninth month in a row in July, according to the latest report on business from the Institute for Supply Management (ISM).

US Midwest premium has continued to trend lower. Slack end-use demand is the main driver as the CME backwardation holds for dates further out in 2023. Lower freight and weak LME prices lower the replacement costs of aluminum and thus lower the floor for the premium.

Rig counts in the US and Canada are back down this week according to to the latest data from oilfield services company Baker Hughes.

US steel imports look to have fallen significantly during the month of July, based off license data from the US Department of Commerce collected through July 31.

The summer cycle has brought more focus around the uncertainty of where HR prices are headed.   Spot indexes continue to bleed lower despite price hikes from sheet mills. Market talk is of still lower prices as the gap grows between the slow-moving index versus expectations for HR future prices declines. (The index likely reflects smaller, […]

Klöckner & Co. reported a positive cash flow in its latest earnings release. Despite a tough economic climate, it is leaning on its strengths to weather a moderately unfavorable outlook.

The spread between US and offshore hot-rolled coil (HRC) prices has narrowed to its lowest level since mid-February, when domestic prices were still trending upwards, according to SMU’s latest foreign vs. domestic price analysis.

Latin American steelmaker Ternium remains optimistic that positive trends in the Mexican market will help it to continue increasing its market share.

While Ternium is expecting an increase in shipments in the current quarter, a decrease in earnings is also anticipated due to lower international steel prices and higher unit costs.

Our sheet prices are down again this week. Some of you think it’s a sign of something ominous, others think it’s just a case of seasonality. It might help to step back and put things in perspective.

Kloeckner Metals Corp. has completed the acquisition of National Material of Mexico.

Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings. The Chicago-based service center group reported net income of $38 million in Q2’23, down 81% from $196 million a year earlier on revenue that fell 23% to $1.34 billion. “Shifting consumer spending patterns, higher interest rates, […]

Ryerson said it expected demand to weaken in the near term after it reported a slump in second-quarter earnings.

Mexican steelmaker Altos Hornos de México (AHMSA) said there could be an “indefinite” delay to the restart of production because of a blockade by activists.

Mexican steelmaker Altos Hornos de México (AHMSA) said there could be an “indefinite” delay to the restart of production because of a blockade by activists. The company said its steel plants in Monclova, Coahuila state, were blockaded by activists of the Sindicato Nacional Minero (National Mining Union), which represents AHMSA’s striking workers, according to a […]

Mexican steelmaker Ternium could benefit if the US places new steel tariffs on Mexico, according to New York-based investment firm Morgan Stanley. “First, if the US were to levy tariffs on steel imports from Mexico, we believe the government of Mexico would likely respond with a similar measure. Second, due to its product mix, Ternium would likely benefit […]

The rig count roller coaster continues, with numbers dropping in the US but inching up in Canada this week, according to the latest data from oilfield services company Baker Hughes. The total US rig count dipped to 664 active rigs as of July 28, down five from the week prior. Active oil rigs in the US decreased […]

An unusual clash of powerful forces is in full swing over tin mill products. An antidumping petition was filed against eight countries in January of this year, while an anti-subsidy petition was filed against imports of tin mill products from China at the same time.

There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300. The event is […]

There is a lot going on at SMU right now. We’re going to be rolling out a new website over the next few days. We’ve also got more than 1,200 people registered to attend Steel Summit this year, putting us on pace to potentially break last year’s attendance record of nearly 1,300.

An unusual clash of powerful forces is in full swing over tin mill products. This flat-rolled steel product is used to make “tin cans” that hold a huge array of food products and other metal containers sold throughout the world. Tin mill products are generally made from cold-rolled steel that is coated with tin or […]

The rig count roller coaster continues, with numbers dropping in the US but inching up in Canada this week, according to the latest data from oilfield services company Baker Hughes. The total US rig count dipped to 664 active rigs as of July 28, down five from the week prior. Active oil rigs in the US decreased […]

Mexican steelmaker Ternium could benefit if the US places new steel tariffs on Mexico, according to New York-based investment firm Morgan Stanley. “First, if the US were to levy tariffs on steel imports from Mexico, we believe the government of Mexico would likely respond with a similar measure. Second, due to its product mix, Ternium would likely benefit […]

Most metal formers predict business conditions will remain stable over the next three months, according to the July 2023 Precision Metalforming Association (PMA) Business Conditions Report. PMA’s July report said that 55% of the metal-forming companies the association surveyed expect no change in general economic activity in the next three months vs. 58% in June. Thirty-four […]

A preliminary count of imports during the month of June shows little changes from SMU’s previously reported import license analysis. Total imports were 2,792,674 net tons in June’s preliminary count by the US Department of Commerce. As SMU reported earlier this month, that’s the highest level imports have been over the past year. Flat-rolled imports […]

ArcelorMittal’s earnings increased sequentially in the second quarter of 2023, but fell on-year, with recent acquisitions in Brazil, Texas, and Mexico contributing to underlying performance. The Luxembourg-based steelmaker posted net income of $1.86 billion in Q2’23, up 70% from $1.1 billion in the prior quarter, but down 59% from $4.49 billion a year earlier on […]

The US HRC Futures market has been on a roller-coaster ride since our last update (green). In early July, the front month futures contracts surged significantly as news of Steel Dynamics Inc.’s (SDI’s) Sinton, Texas, mill outage trickled through the market (blue).

ArcelorMittal’s earnings increased sequentially in the second quarter of 2023, but fell on-year, with recent acquisitions in Brazil, Texas, and Mexico contributing to underlying performance.

The US HRC Futures market has been on a roller coaster ride since our last update (green). In early July, the front month futures contracts surged significantly as news of Steel Dynamics Inc.’s (SDI’s) Sinton, Texas, mill outage trickled through the market (blue). However, the futures quickly reversed course and experienced a sharp decline, following […]