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.
Steel buyers remain highly optimistic for their businesses’ chances for current and future success, according to SMU’s latest Steel Buyers’ Sentiment Indices.
This piece was first published by SMU’s nonferrous sister publication, Aluminum Market Update. To learn about AMU, visit their website or sign up for a free trial. An automotive supplier plans to turn a former steel mill site in Alabama into a facility to produce aluminum and plastic components for US automakers. Taiwan-based Minth Group Limited said the $430 million […]
SMU’s latest steel buyers market survey results are now available on our website to all premium members.
When nations eye their trade policy these days, are they only seeing tariffs? It might seem that way, especially after reading a presidential executive order or five over the last year. But is the condition spreading?
As spot prices for hot- and cold-rolled coils edge higher, mill capacity utilization rates hover below 80%, raising concern among some market participants.
Steel mill lead times extended to multi-year highs on both sheet and plate products this week.
Most steel buyers report that domestic mills are unwilling to negotiate price on new sheet and plate spot orders.
Zekelman Industries reported paying out CA$30,000 (~US$21,845) in rewards to Canadians who reported the use of foreign steel in public works projects.
Apparent steel supply increased from December to January, but remains on the low side compared to recent years.
US service centers’ flat-rolled steel supply declined for a second consecutive month in February, with shipping days of supply slipping to 52.2 on an adjusted basis, according to SMU data.
Prices for both sheet and plate products climbed higher this week, with some rising to multi-year highs, according to SMU's latest market canvass.