Expanded Technologies, Inc., Marietta, Ga., which specializes in the manufacture of light gage expanded metals, is among the growing number of American companies that is sharing the tax windfall with employees. “As a result of the Tax Cut and Job Act recently enacted by the Trump administration, we are pleased to announce that ETI will […]
Steel Market Update has been pulling out all of the stops as we prepare to host the fastest growing and the largest steel conference in North America at the end of August. This year’s SMU Steel Summit Conference is expected to attract 750+ executives in manufacturing, service centers, steel mills, trading companies, toll processors and […]
Steel Market Update has been pulling out all of the stops as we prepare to host the fastest growing and the largest steel conference in North America at the end of August. This year’s SMU Steel Summit Conference is expected to attract 750+ executives in manufacturing, steel service centers, steel mills, steel trading companies, toll […]
In December, total construction spending expanded by 1.4 percent year over year. Viewed in the longer term, however, the growth rate is slowing. The growth of total construction on a rolling 12-month basis year over year slowed every month in 2017. On a rolling three-months basis, growth improved in October and December. On this three-month […]
Construction employment and average hourly wages climbed in January, according to an analysis of government data by the Associated General Contractors of America. The industry gained 36,000 jobs in January for total construction employment of 7,099,000. Compared to January 2016, jobs were up 226,000 or 3.3 percent. Average hourly earnings in the industry climbed to […]
Bank of America Merrill Lynch sees market conditions lining up for a strong first quarter with hot rolled coil prices that could even hit $800 per ton. “Even without Section 232 support, a weaker U.S. dollar, good demand, Chinese supply curtailments and recent trade case action can support prices well through the second half,” predicts […]
Driven by the need for intelligent connected devices in industrial and commercial applications, the number of connected Internet of Things (IoT) devices globally will grow to more than 31 billion in 2018, according to new analysis from business information provider IHS Markit. The commercial and industrial sector, powered by building automation, industrial automation and lighting, […]
Construction spending increased for the fifth consecutive month in December, but an infrastructure bill is needed to address growing deficiencies in transportation, water and wastewater infrastructure, says the Associated General Contractors of America in an analysis of new government data. “Construction spending ended the year on a high note, with gains over November levels for […]
Gerdau SA is divesting its Beaumont, Texas, wire rod mill and two downstream operations, Beaumont Wire Products and Carrollton Wire Products, to reduce its footprint in the U.S. long products market. Optimus Steel LLC will acquire the facilities for $92.5 million in a deal to close by the end of the year. The sale is […]
U.S. Steel announced Jan. 31 that the president of its tubular products segment, David J. Rintoul, plans to retire effective Feb. 28. Graphite electrode company GrafTech announced concurrently that Rintoul will join the company as President and CEO effective March 1. Rintoul, currently senior vice president – tubular business and president of tubular products, began […]
Steel Market Update publisher John Packard is excited about this year’s SMU Steel Summit Conference. The pieces of the puzzle are carefully fitting into place. As always, our program will be cutting edge as we address issues of the day, as well as those that will change the steel and manufacturing industries in the weeks, […]
For those who were hoping President Trump’s State of the Union address last night might provide some clarity on U.S. trade policy, perhaps even a brief mention of NAFTA or Section 232, his remarks were a disappointment. The only time he mentioned “steel” was in describing “the steel in America’s spine” in overcoming the challenges […]
Nucor’s Plate Mill Group announced a $50 per ton price increase today, Jan. 29, on all new orders for carbon, alloy and heat-treated plate, effective immediately on all unconfirmed orders. This latest increase follows three earlier announcements by Nucor ranging from $30 to $50 per ton on plate since mid-November. {loadposition reserved_message}
NLMK USA notified customers today, Jan. 29, that it was increasing base prices on all products by $30 per ton, effective immediately, due to continued strong order placement. NLMK produces hot rolled, hot rolled pickled and oiled, cold rolled and galvanized products. This is the fourth price increase announced by NLMK in the last three […]
SSAB Americas notified customers today, Jan. 29, that it is increasing transaction prices on steel plate products by a minimum of $50 per ton, effective immediately on all new noncontract orders. The increase will apply to As-Rolled Mill Plate, Cut-To-Length Plate >72”, Hot Rolled Coils >72”, as well as Normalized and Quenched & Tempered Plate. […]
AK Steel announced today that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $30 per ton, effective immediately with new orders. This latest price hike follows a $40 increase announced by the steelmaker in early January. AK Steel is a producer of flat-rolled carbon, stainless […]
On Wednesday and Thursday of this past week a sold-out group of attendees and six Steel Market Update instructors, one event coordinator and a potential future instructor traveled to Mobile, Alabama to participate in the first Steel 101 workshop of 2018. The workshop was a success aided by the generosity of the SSAB plate mill […]
On Wednesday and Thursday of this past week, a sold-out group of attendees and six Steel Market Update instructors, one event coordinator and a potential future instructor traveled to Mobile, Ala., to participate in the first Steel 101 workshop of 2018. The workshop was a success, aided by the generosity of the SSAB plate mill […]
ArcelorMittal announced that it will invest CAD $70 million (U.S. $56.8 million) in its Contrecoeur, Quebec, wire rod and bar facilities. Two reheating furnaces will be replaced at Contrecoeur-East wire rod mill and its Contrecoeur-West steel bar mill. The furnaces will increase the company’s rolling capacity by 100,000 metric tons with greater efficiency and reduced […]
West Coast steel mills California Steel Industries (CSI) and USS-POSCO Industries (UPI) announced further flat roll price increases yesterday, Jan. 24. CSI told customers that due to changing market conditions it is increasing transaction prices by $60 per ton on Hot Rolled and P&O, $40 per ton on Galvanized and $30 per ton on Cold […]
Edmunds forecasts that 1,121,932 new cars and trucks will be sold in the U.S. in January for an estimated seasonally adjusted annual rate (SAAR) of 16.7 million. This reflects a 29.8 percent decrease in sales from December 2017 and a 1.4 percent decrease from January 2017. “In January, automakers are expected to pull the reins […]
Gerdau is making changes in its North American leadership. Peter Campo, president of the North American long steel division, will leave the company effective Jan. 23. Gerdau CEO Gustavo Werneck will lead operations until a new leader for the division is selected. “The recent change in our business portfolio in North America demanded a shift […]
The pile of unfinished paperwork on President Trump’s desk just got a little taller with Friday’s delivery of the Section 232 report on aluminum. It joins the Section 232 report on steel that hit the president’s desk on Jan. 11, starting the clock on a 90-day deadline for possible trade action. On Jan. 19, the […]
Construction employment continues to grow in the United States. The Associated General Contractors of America notes that 42 states added construction jobs between December 2016 and December 2017. From November to December, 32 states and the District of Columbia added jobs. “Construction employment is expanding in many parts of the country in large part because […]
Steel is a core business for the port in Tampa, Fla., which handled steel and scrap imports and exports totaling about 900,000 tons last year. Hundreds of industry executives will also pass through the port as attendees of the 29th annual Tampa Steel Conference to be hosted by Port Tampa Bay and Ports America on […]
AK Steel has promoted Christopher J. Ross to Vice President and Treasurer from his current position of AK Steel Treasurer, effective immediately. CEO Roger Newport welcomed Ross to the executive team: “This promotion brings additional strength and depth to AK Steel’s financial organization and to our senior leadership team.” Ross began his career with AK […]
Popular economist Alan Beaulieu of ITR Economics will make another appearance as a keynote speaker for Steel Market Update’s premier event, the 2018 Steel Summit Conference, set for Aug. 27-29 at the Georgia International Convention Center in Atlanta. Beaulieu will offer an insightful overview of U.S. economic trends and their implications for the steel industry. […]
AK Steel has confirmed that a ladle used in the steelmaking process at the company’s Middletown Works malfunctioned around 8 a.m. this (Saturday) morning, releasing liquid steel into the facility. The spill caused a fire that drew crews from four area fire departments who worked for over two hours to contain the blaze. A spokesperson […]
Popular economist Alan Beaulieu of ITR Economics will make another appearance as a keynote speaker for Steel Market Update’s premier event, the 2018 Steel Summit Conference, set for Aug. 27-29 at the Georgia International Convention Center in Atlanta. Beaulieu will offer an insightful overview of U.S. economic trends and their implications for those associated with […]
Future automotive trends reinforce the role of steel, says Greg Ludkovsky, vice president of global R&D for ArcelorMittal. In the following commentary, Ludkovsky contends that steel offers the optimal balance of strength, performance and mass reduction with the least impact on the environment compared to aluminum and other materials: While sales of battery electric vehicles […]