Category: Steel Products

Raw steel production in the US inched up in the week ended Nov. 18, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 20.

The Architecture Billings Index (ABI) reading from the American Institute of Architects (AIA) and Deltek showed a decline for the fifth consecutive month in October. The index dropped to 44.3 in October, 0.5 points below 44.8 in September – and marking the lowest score since December 2020. The ABI is a leading economic indicator for […]

Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]

The active rig counts for week ended Nov. 17 were up in the US, while the Canadian counts declined, according to Baker Hughes.

The US plate market has been rather quiet over the past couple of weeks since Nucor Corp. caught many off guard with a $140-per-ton price cut.

The iron ore price has been rising from the $118 /dry metric ton (DMT) level seen in the last edition, initially due to greater optimism in China after the government’s RMB 1 trillion fiscal stimulus announcement. The price has gotten some extra support from concerns over supply, though the current price level is not backed by […]

Nucor executives discussed the specifics of the company's 'net-zero by 2050 strategy' during a webcast on Nov. 14.

Raw steel production in the US decreased in the week ended Nov. 11, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 13.

Domestic heating and cooling equipment shipments declined in September, according to the latest data released from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

CRU’s analysis shows that 7–12 million metric tons of additional steel demand will be generated following the issuance of RMB1 trillion bonds by the central government of China. The immediate impact of this is that market confidence has improved, which has supported prices. The additional steel demand is expected to materialize over 2024 and 2025. […]

For the week ended Nov. 10, active rig counts in the US dropped while inching up in Canada, according to Baker Hughes.

The London Metal Exchange (LME) aluminum 3-month price is moving down again on the morning of Nov. 10 and was last seen trading at $2,225 per metric ton. The US Midwest premium remained steady for the third week in a row, suggesting a bottom might have been hit. Trading activity is picking up for the […]

Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.

ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.

Lead times for most sheet products were pushed out even further this week as domestic prices continue to rise. Plate lead times, meanwhile, contracted on falling prices and waning demand.

Nucor Corp. announced this morning that it is joining Cleveland-Cliffs, aiming to increase prices for hot-rolled steel (HRC) and heavy gauge hot-rolled products, effective immediately.

September shipments from American steel mills decreased vs. shipments in August, according to the latest monthly data from the American Iron and Steel Institute (AISI).

On Nov. 6, the US General Services Administration (GSA) announced $2 billion in funding for 150 construction projects that use cleaner construction materials, including steel.

Cleveland-Cliffs Inc. said on Tuesday that it had raised minimum base prices for hot-rolled coil (HRC) to $1,000 per ton ($50 per cwt).

Raw steel production in the US was down for the week ended Nov. 4, according to data released by the American Iron and Steel Institute (AISI) on Monday, Nov. 6.

You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]

GrafTech International reported a bumpy third quarter. But despite the challenges, the company said it's certain that improvement is on the horizon.

Baker Hughes' active rig counts for the week ended Nov. 3 dropped in the US but remained steady in Canada.

Northwest Pipe reported declining third-quarter earnings but remains upbeat about its fourth-quarter performance.

Arkansas-based metals processor Boyd Metals, is expanding its footprint at its Little Rock, Ark., facility.

Ryerson Holding Corp, has acquired non-ferrous metals distributor TSA Processing.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, the UAW strike, and what people were talking about in the market.

Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.

The decline in imports from August to September was more pronounced than license applications suggested earlier this month.

Ford Motor Co. said the United Auto Workers' (UAW) strike has shaved ~80,000 vehicles from production.