Steel buyers have returned from the 4th of July Holiday ready and willing to buy steel. Steel Market Update spoke with a number of commercial people at various steel mills who told us they were receiving an increasing amount of inquiries and orders. One of the conversion mills told us earlier today that their order […]
The sense, the tone of the market, is that prices are firming a bit. The slide we experienced over the past few weeks (modest as it was) has been moderating and shrinking in size. That is the sense that we have been receiving as we spoke to both buyers and steel mills over the past […]
The Detroit scrap market settled on Monday with cut grades (such as heavy melt or HMS) rising by $10 per gross ton and shredded scrap by $15 per gross ton. Prime grades, such as #1 busheling traded sideways compared to last month. Our scrap sources are telling us that the best deals made (from a […]
Many within the steel industry are looking toward Washington, D.C. to right was has been perceived as a wrong committed by South Korea against the OCTG manufacturers and supporting domestic steel mills. According to the US Department of Commerce website, the final determination is supposed to be announced on Thursday of this week so we […]
Steel Market Update did not publish on Sunday evening due to the extended 4th of July holiday here in the United States. We know that there are a number of our readers who enjoy our Comparison Price Indices (CPI) articles on Sunday evening. Here is what the CPI looks like as of Monday evening: Benchmark […]
For the week ending July 5, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,853,000 net tons (NT) of raw steel, a 0.5 percent decrease over the previous week but a 0.5 percent increase over the same week one year ago. The estimated capacity utilization rate is 77.0 […]
The month began pretty much the same way it ended with one of the domestic integrated mills attempting to influence pricing by making a flat rolled steel price announcement. Early in June ArcelorMittal announced specific base price levels in an attempt to stem the slide which had already begun at that point in time. The […]
On Monday, United States Steel (USS) announced a base price increase on all new flat–rolled steel orders. The $25 per ton increase ($1.25/cwt) was to be “…applicable to all open quotations and/or negotiations where an agreement is not yet concluded….” As with most price announcements all published pricing extras were to be applied to any […]
During the month of June we saw all of the steel price indexes followed by Steel Market Update decline by double digits ($10 per ton or greater). The only exception was on plate which saw two of the three indexes taking prices higher and one remaining the same. Looking at the indices as a whole […]
For those of you who have never gone to New York City to participate in or be around the Steel Success Strategies Conference, you are missing an experience. The sheer concentration of steel mills, trading companies, service centers and manufacturing companies as well as scrap, logistics, shipping, toll processors, equipment can be overwhelming. After spending […]
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […]
Steel imports in May increased 7.4 percent from April to 4 million net tons, a 41.5 percent increase over May imports in 2013. The year-to-date total is now 17.5 million net tons, 31.7 percent higher than the same period last year. Steel imports have been a headline issue for the steel industry in the last […]
Something has to give. US Steel announced during the month of June the closure of two of their OCTG production facilities. The McKeesport facility has a capacity of 315,000 tons of OCTG per year while the Bellville operation capacity is 100,000 tons of OCTG on an annual basis. Total US Steel production capacity of oil […]
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of May 2014. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates. Total raw steel production for the […]
The latest steel import census data has preliminary imports at 4,016,437 net tons in May, the highest tonnage levels seen since 2006. May represents a 7.4 percent increase over the previous month and an increase of 1,178,145 tons or 41.5 percent compared to May 2013. Foreign steel now represents 28 percent of the steel market. […]
The HRC futures market has been stuck in a rut over the past couple of weeks in terms of both volumes and price volatility. The market remains backwardated with the spot price now at 670 and the July futures value around 650, Q3 630 and Q4 630. While prices in the physical market have softened […]
Steel Market Update participates in a number of social forums including one of our own which is hosted on LinkedIn. Our LinkedIn group name is: Steel Market Update and if you are a LinkedIn member you are invited to join. We received the following questions after posting one of our articles about May imports on […]
We are moving deeper into a holiday week and, with the exception of US Steel, all is quiet on the western (and eastern for that matter) front. The US Steel announcement of a $25 per ton base price increase on spot flat rolled prices has created some interest within the steel community. However, we are […]
On Monday, United States Steel (USS) announced a base price increase on all new flat–rolled steel orders. The $25 per ton increase ($1.25/cwt) was to be “…applicable to all open quotations and/or negotiations where an agreement is not yet concluded….” As with most price announcements all published pricing extras were to be applied to any […]
For those buying coated products, zinc prices have been rising and by the end of the month of June were reported by the LME to be $1.0045 per pound. This is the first time zinc has exceeded $1.00 per pound since September 2011 just prior to the adjustment of the galvanized coating extras in January […]
For the week ending June 28, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,863,000 net tons (NT) of raw steel, a 0.9 percent decrease over the previous week but a 2.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 77.5 […]
With the exception of Platts, the balance of the steel indexes followed by Steel Market Update dropped slightly with benchmark hot rolled coil now averaging $667 per ton, down $4 per ton for the week. When looking at cold rolled Platts was unchanged, SMU was up $5 per ton to $785 per ton with CRU […]
The American Iron & Steel Institute (AISI) reported their final raw steel production numbers for the month of May 2014. This estimation is different than the weekly raw steel production as it is based on 75 percent of the domestic mills reporting vs. 50 percent for the weekly estimates. Total raw steel production for the […]
Steel imports in May increased 7.4 percent from April to 4 million net tons, a 41.5 percent increase over May imports in 2013. The year-to-date total is now 17.5 million net tons, 31.7 percent higher than the same period last year. Steel imports have been a headline issue for the steel industry in the last […]
Our ferrous scrap sources are advising Steel Market Update that June saw the bottom to scrap prices and July will see prices move sideways (no change) to as much as up $20 per gross ton. If scrap prices do indeed rise by as much as $20 per ton, this could be important for steel buyers […]
Steel Market Update participates in a number of social forums including one of our own which is hosted on LinkedIn. Our LinkedIn group name is: Steel Market Update and if you are a LinkedIn member you are invited to join. We received the following questions after posting one of our articles about May imports on […]
Steel Market Update spent an extraordinary amount of time on today’s price ranges and averages. There has been a lot written recently about demand supporting prices and the lack of supply supporting prices. However, the deeper we dug the more questions we began to ask about what is real and what is a little murky. […]
The latest steel import census data has preliminary imports at 4,016,437 net tons in May, the highest tonnage levels seen since 2006. May represents a 7.4 percent increase over the previous month and an increase of 1,178,145 tons or 41.5 percent compared to May 2013. Foreign steel now represents 28 percent of the steel market. […]
For the week ending June 21, 2014, the American Iron & Steel Institute (AISI) reported that the U.S. steel industry produced 1,880,000 net tons (NT) of raw steel, a 1.6 percent increase over the previous week and a 3.1 percent increase over the same week one year ago. The estimated capacity utilization rate is 78.2 […]
The SMU Comparison Price Indices saw prices dropping on all products except plate products. Benchmark hot rolled coil saw pricing drop anywhere from $2 per ton (CRU) to $10 per ton (Platts). The HRC average dropped $6 per ton for the week to $670 per ton. Cold rolled also dropped on all of the reporting […]