UPI made downward revisions to most of its galvanized coating extras on Monday, with new extras going into effect immediately. Over the last few weeks, Steel Dynamics, NLMK USA, Wheeling-Nippon, and US Steel also revised their coating extras. SMU provides an updated comparison of mill galvanized coating extras in the Resources section of our website, comparing […]
Raw steel production by US mills recovered last week after declining for two straight weeks. Despite the increase, mill utilization rates remained below the 80% mark for a third consecutive week. Domestic capacity utilization rose to 79.6% while mill production totaled 1,754,000 net tons in the week ending July 23, reported the American Iron and […]
Nucor made downward revisions to most of its galvanized coating extras on Friday, with new extras going into effect Sept. 3, 2022. “Consistent with our practice to monitor the cost of zinc, we have revised our galvanized coating weight extras effective with orders acknowledged for week ending September 3, 2022,” a Nucor press release reads. “Price […]
The spread between hot-rolled coil (HRC) and prime scrap prices is back on the downward trend seen prior to the Russia-Ukraine war, according to Steel Market Update data through this week. The HRC-scrap spread peaked last September, falling to an 18-month low in early March and briefly rebounding through May. The latest spread is nearly […]
SMU’s average hot-rolled coil prices dropped below $900 per ton ($45 per cwt) for the first time since December 2020. And some sources, citing short lead times and spotty demand, said they see little reason for the trend to reverse in the short term. SMU’s hot-rolled coil prices now stand at $875 per ton ($43.75 […]
US Steel made downward revisions to their galvanized and Galvalume coating extras on Monday, with new extras going into effect Sept. 4, 2022. Earlier this month, Steel Dynamics, NLMK USA, and Wheeling-Nippon also revised their galvanized coating extras. SMU provides an updated comparison of mill galvanized coating extras in the Resources section of our website, […]
Raw steel production by US mills slipped last week, shrinking for the second straight week and keeping mill utilization rates below the 80% mark for just the second time since early April. Domestic capacity utilization fell to 78.9%—its lowest mark year-to-date—while mill production totaled 1,738,000 net tons in the week ending July 16, reported the […]
Startup company Altex Tube LLC is setting up shop on the campus of Steel Dynamics Inc.’s flatrolled sheet mill in Columbus, Miss. Altex’s new, $100 million HSS and mechanical tube mill will manufacture black and pre-galvanized steel tubing ranging in size from 1–6 inches square and 1.25–7.625 inches round, up to 48 feet in length […]
Kaiser declares force majeure due to an inability to secure its required magnesium Kaiser Aluminum, which operates a major aluminum can sheet rolling mill in Warrick, Ind., declared force majeure on July 8, citing its inability to obtain enough magnesium to sustain its production. Kaiser’s mill specializes in the production of food container and beverage […]
Imported sheet and plate products arrived at US ports at a slower pace in May, resulting in them accounting for a lower share of the domestic market, according to Commerce Department data. Imports’ share of US sheet and plate markets peaked in December, reaching their highest levels in the past 4.5 years. The trend was […]
Sheet prices continued to slide this week and plate prices to defy gravity. If there is an upside, it’s that the pace of sheet declines has moderated slightly. SMU’s hot-rolled coil price now stands at $910 per ton ($45.50 per cwt), down $45 per ton from $955 per ton a week ago and down $190 […]
Wheeling-Nippon Steel made downward revisions to their galvanized coating extras on Tuesday, with new extras going into effect immediately. Last week, Steel Dynamics and NLMK USA also revised their galvanized coating extras, with their new prices going into effect in August 2022. SMU provides an updated comparison of mill galvanized coating extras here in the […]
Raw steel production by US mills slipped last week, pushing utilization rates below the 80% mark for the first time since early April. Domestic capacity utilization shrank to 79.3% while mill production totaled 1,748,000 net tons in the week ending July 9, the American Iron and Steel Institute reported. US output was down 1.1% versus the […]
US apparent steel supply increased 4% from April to May, rising to 9.48 million net tons, according to the latest US Department of Commerce and American Iron and Steel Institute data. Recall that supply reached a six-year high last September at 9.92 million tons, declining each month through February. May’s supply level is now the […]
US steel exports fell 4% in May to 793,000 net tons, further declining from a 45-month high in March, according to the latest US Commerce Department data. On a 12-month moving average (12MMA), May exports have reached a 3+ year record high. Total May exports are 7% higher than levels seen one year ago. As shown […]
Sheet steel prices declined last week for the eleventh week in a row, while plate prices have remained relatively stable in comparison, according to SMU’s price indices published last Tuesday. Plate prices typically carry a premium over hot rolled prices because plate is a value-added product and requires more time on the mill. SMU’s hot […]
NLMK USA made mostly downward revisions to their galvanized coating extras this week. The new extras go into effect in August 2022. Earlier this week, Steel Dynamics also revised their galvanized coating extras, with their new prices going into effect August 1, 2022. SMU provides a comparison of mill galvanized coating extras here in the […]
Century and Alcoa Close Smelter Capacity We talked about the INTALCO saga in a recent column and its inability to find competitive power to re-open this smelter. Power has again reared its ugly head and delivered another serious bite to the industry. Century Aluminum announced on June 24 that it would be immediately curtailing production […]
Luxembourg-based steel tube producer Tenaris SA is set to purchase Benteler Steel & Tube Manufacturing Corp. from Benteler North America Corp. in a deal valued at $460 million. Benteler Steel & Tube is a seamless pipe producer with production facility in Shreveport, La., that has annual capacity of 400,000 metric tons. The acquisition, which is subject […]
Final Census data reveals that May steel imports totaled 2.75 million net tons, just 17,000 tons higher than April, but down 11% from March’s 26-month high of 3.09 million tons. June import licenses are at 2.79 million tons through July 6th data, (up from 2.29 million tons last week), now in line with April and […]
Nucor is keeping plate prices flat with the opening of its August 2022 order book. The Charlotte, N.C.-based steelmaker said it would maintain plate prices, effective with new orders. All published adders and extras will be applied, the company said in a letter to customers dated June 30. In its previous letter to customers dated June 13, Nucor […]
Steel Dynamics (SDI) has lowered metallic coating extras in response to declining zinc and aluminum prices. The new extras are effective Aug. 1, 2022. They apply not only to galvanized products but also to Galvalume, Galfan, and aluminized material, the Fort Wayne, Ind.-based steelmaker said. “Since the most recent adjustment to our published metallic coating […]
Domestic sheet prices continue to slide back to levels not seen since late 2020 or early 2021. Even plate prices, which had been stable to date, are starting to show signs of cracking. SMU’s average hot-rolled coil price now stands at $955 per ton ($47.75 per cwt), down $300 per ton (24%) from early June […]
Raw steel production by US mills recovered slightly last week following declines in the prior two weeks. Domestic capacity utilization rose to 80.9% while mill production totaled 1,767,000 net tons in the week ending July 2, the American Iron and Steel Institute reported. US output was up 1% versus the week prior but 4.4% below […]
Contract talks covering more than 22,000 dock workers at 29 West Coast ports will continue past the expiration of a current agreement on July 1 at 5 p.m. PST. That’s according to a joint statement released on Friday afternoon ahead of that deadline by the International Longshore & Warehouse Union (ILWU) and the Pacific Maritime […]
Preliminary Census data shows that steel imports in May currently total 2.74 million net tons, 6,000 tons higher than April, but down 11% from March’s 26-month high of 3.09 million tons. June import licenses are now at 2.29 million tons, 16% less than April and May levels, and potentially the lowest level seen since Feb. […]
Steel Market Update’s average hot-rolled coil price has fallen below $1,000 per ton ($50 per cwt) for the first time since December 2020 – or 18 months ago. The move comes as some market participants said that a floor might be near while others said such talk was mostly wishful thinking. Our benchmark hot-rolled coil […]
Raw steel production by US mills edged down marginally last week, slipping for the second straight week. Domestic capacity utilization dipped to 80.2% while mill production totaled 1,750,000 net tons in the week ending June 25, the American Iron and Steel Institute (AISI) reported. US output was down 0.5% versus the week prior and 5.1% […]
Prices for six of the seven steelmaking raw materials tracked in this SMU analysis declined over the last 30 days, again receding from record-high levels seen 2-3 months prior. Through the latest data available as of June 23, coking coal prices decreased 28% compared to one month prior, aluminum prices fell 15%, iron ore and […]
By Greg Wittbecker, Advisor, CRU Group Century Aluminum Falls Prey to the Pitfalls of Day-Ahead Electricity Pricing When we wrote our column last week about INTALCO and the shortcomings of US energy policy, little did we know that we would see another example of this within a week. On Wednesday, June 22, Century Aluminum (CENX) […]