Steel exports grow in April to an eight-month high
Total steel exports rebounded 6% in April, rising to 842,000 short tons (st) according to the latest US Department of Commerce data.
Category: Region
SMA, MSCI: USMCA vital to North America as long as rules followed
The USMCA is an important trade agreement, as long as the member countries honor its requirements. These were the sentiments echoed by top officials of the Steel Manufacturers Association (SMA) and Metals Service Center Institute (MSCI) during a press conference at their annual meeting last week in Scottsdale, Ariz.
Deacero breaks ground on mini-mill in northern Mexico
Mexican steelmaker Deacero recently broke ground on a $600-million mini-mill in Ramos Arizpe, Coahuila, in northern Mexico.
Dodge Momentum Index keeps rising in May
Interest rate stability and growing owner and developer confidence helped push the Dodge Momentum Index (DMI) higher in May.
HR futures: Spot market drops below Nucor CSP, could trade action reverse that?
Let’s start by asking this: Were the proclamations that Nucor’s published index prices would drift lower with the reality of a bear market for flat rolled ultimately a bit premature with the benefit of hindsight?
Active rig count update: US down, Canada up
Oil and gas drilling activity in the US ticked down last week, remaining near a two-year low, according to the latest update from Baker Hughes. In contrast, the Canadian count inched higher and is now at a 10-week high.
US CR prices still more expensive than imports
Offshore cold-rolled (CR) coil prices remain notably cheaper than domestic product. That remains the case even as US CR coil prices continue to tick lower.
Alacero taps new leaders at top
Alacero has named new top leaders to help guide the Latin American steel association through its ongoing transformation and modernization process.
Final thoughts
It feels like the summer doldrums arrived a little earlier than usual this year. I know there had been rumors of a price hike. The prospect of a sharply lower June scrap trade probably didn't help the chances of that actually happening.
SMU survey: Buyers' Sentiment Indices jump back up
SMU’s Steel Buyers’ Sentiment Indices both rebounded sharply this week, according to our most recent survey data.
SMU survey: Summer slowdown brings short to normal mill lead times
Movements in steel mill lead times were mixed this week, according to our latest steel buyers survey results. Service centers and manufacturers reported short to average production times, little changed from our last report.
Domestic and offshore HRC prices inch closer to parity
US hot-rolled (HR) coil prices ticked down again this past week, nearly reaching parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $730 per short ton (st) on average based on SMU’s latest check of the market on Tuesday, June 4. Domestic HR coil prices are now […]
SMU survey: Most sheet, plate buyers find mills more flexible on price
Steel buyers found mills more willing to negotiate spot pricing this week on all products SMU tracks with the exception of Galvalume, according to our most recent survey data.
Davey: ArcelorMittal to continue to invest, expand in North America
ArcelorMittal plans to continue to invest and expand its operations in North America, a senior company executive said in an exclusive interview with SMU. “People were talking about our demise in North America or maybe our exit. And I want to emphasize that nothing could be further from the truth,” said Brad Davey, executive vice president and head of corporate development at the company.
Protest forces shutdown of ArcelorMittal Mexico’s blast furnace
Steel production at ArcelorMittal Mexico has been interrupted due to an “illegal protest” and blockade outside the company’s mill in Lazaro Cardenas, Mich. Some Sindicato Minero union members, dissatisfied with the profit-sharing payments they received, have been obstructing access to the mill since Friday, May 24. As a result, ArcelorMittal had to stop blast furnace […]
ISM: Manufacturing activity contracts further in May
US manufacturing activity contracted in May for the second month in a row, according to the latest report from the Institute for Supply Management (ISM). After a brief expansion in March, ISM’s manufacturing index has since returned to contraction, where the manufacturing sector has been for 18 of the last 19 months. The ISM Manufacturing […]
Beige Book shows slight economic growth across US
Economic growth was modest, at best, from April through early May in most economic districts observed by the Federal Reserve.
SMU Steel Summit 2024: The countdown is on!
We’re just a few months away from SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference.
Domestic CR prices remain well above imports
Offshore cold-rolled (CR) coil prices remain significantly cheaper than domestic product. That remains the cause even as US CR coil prices continued to tick lower. All told, US CR prices are now 17.6% more expensive than imports. While still high, that premium is down from 19.4% last week and down from 31.5% in early January.
Active rig count update: US flat, Canada rises
S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes
Strike threatens ArcelorMittal Mexico’s blast furnace ops
A strike outside the ArcelorMittal Mexico plant in Lazaro Cardenas, Michoacán, is threatening to impact blast furnace operations at the mill.
Chicago Business Barometer fell to four-year low in May
The Chicago Business Barometer tumbled lower in May, now at the lowest measure recorded since May 2020 according to Market News International (MNI) and the Institute for Supply Management (ISM).
CRU: Sheet price stability seen in most regions outside of the US
Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]
HR futures: Waiting for a new trend to emerge
Week over week, the futures curve saw minimal change.
Burns Harbor port undergoing significant infrastructure expansion
The major steel-handling port in Burns Harbor, Ind., is getting substantial infrastructure upgrades.
Metalformers’ business outlook worsens
Most metalformers expect economic activity to be level to down over the next three months, according to the May Business Conditions Report from the Precision Metalforming Association (PMA).
Domestic and offshore HRC prices nearly even
US hot-rolled (HR) coil prices ticked down further this past week, moving closer to parity with offshore hot band prices on a landed basis. This week, domestic HR coil tags were $750/st on average based on SMU’s latest check of the market on Tuesday, May 28.
CRU aluminum news roundup
The LME 3-month price for aluminum was broadly stable on the morning of May 24 and, at the writing of this article, was last seen trading at $2,627 per metric ton. The price fell sharply during the week from its recent peak amid hawkish comments from Fed officials, as indicated in the minutes of the […]
US CR tags move lower, still much higher than imports
Offshore cold-rolled (CR) coil prices remain a cheaper option over domestic product, even as US CR coil prices tick lower, according to SMU’s latest check of the market.
SMU survey: Mills less willing to talk price on HRC, other products mixed
Hot rolled buyers found mills less willing to negotiate spot pricing this week, while other products SMU tracks were mixed, according to our most recent survey data.