Category: Steel Products

SMU's Current Steel Buyers Sentiment Index edged down this week while the future index remained flat, based on our most recent survey data.

The mill negotiation rate for all products SMU looks at fell this week, with hot rolled dropping 13 percentage points, according to our most recent survey data.

The construction sector added 11,000 jobs in September, according to the Associated General Contractors of America (AGC).

The US and European Union are expected to sign a political agreement that puts a hold on a part of the Global Arrangement on Sustainable Steel and Aluminum (GSA) regarding the decarbonization of steel and aluminum making, according to an article in The Financial Times.

US raw steel production dropped for the week ending Oct. 7, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 9.

H2 Green Steel is in talks with Canada to potentially build a new green steel project in Quebec.

Nucor was joined by Kentucky Gov. Andy Beshear for the steelmaker’s “grand opening” of its $1.7-billion Brandenburg plate manufacturing mill in the state.

A slowdown in US steel imports has yet to be seen, as total import licenses in September were about even with August’s import levels.

The total active oil and gas drilling rigs in both the US and Canada dropped this week, according to the weekly report put out by oilfield services company Baker Hughes.

Some of the movements in scrap and pig iron pricing over the past 18-24 months have been quite drastic.

Because of a series of problems encountered in Australia and the United States, Coronado and Arch have both reduced their coking coal output guidance. They also warned of higher costs. Coronado Global Resources now forecasts production between 16.2 Mt and 16.4 Mt this year, compared with a previous range of 16.8 Mt and 17.2 Mt. […]

Shipments from US steel mills ticked up in August vs. July and stayed level year over year, according to the latest monthly data from the American Iron and Steel Institute (AISI).

What has happened since the August hot rolled (HR) settlement ($767 per short ton)?

Construction spending in the US increased in August, according to the Associated General Contractors of America (AGC).

U.S. Steel is laying off ~300 workers at its Granite City Works in Illinois, a company spokeswoman told SMU on Tuesday.

US raw steel output took a downward turn during the week ending Sept. 30, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 2.

General Motors has announced layoffs at its Parma Metal Center in Ohio and Marion Metal Center in Indiana as a result of the ongoing United Auto Workers (UAW) strike.

The number of active oil and gas drilling rigs in the US dropped this week while Canada’s count increased by one, said oilfield services company Baker Hughes in its weekly report.

The United Auto Workers (UAW) president Shawn Fain is scheduled to make an announcement on Facebook Live, according to the UAW International Union's Facebook page.

While lead times for sheet again had mixed movements this week, those for plate collapsed, according to SMU’s most recent market survey.

US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.

Ford Motor Co. said on Monday that it has stopped work at its $3.5-billion project for an electric vehicle (EV) battery plant in Michigan, according to media reports.

The United Steelworkers International (USW) executive board on Tuesday appointed David McCall as the union’s new international president. He will fill the remainder of Tom Conway’s term.

Despite economic headwinds in the headlines, the near-term future could prove brighter than expected, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the Tuesday, Sept. 26, meeting of its Sheet Metal/Air Handling Council.

Domestic raw steel output was up slightly for the week ending Sept. 23, according to data released by the American Iron and Steel Institute (AISI) on Monday, Sept. 25.

Global steel production tapered off in August vs. July, according to the latest figures from the World Steel Association (worldsteel).

The United Auto Workers (UAW) union has more leverage than the Detroit Three automakers in the current strike that started Sept. 15, according to Jason Schenker, president of Prestige Economics.

The number of active oil and gas drilling rigs in the US dropped this week, while Canada’s count remains unchanged, according to the most recent data from oilfield services company Baker Hughes.

Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside. An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, […]

The LME aluminum 3-month price was up 0.8% on the morning of Friday Sept. 22. It was last seen trading at $2,238/metric tons, remaining above the $2,200/t mark for most of the past week.