Category: Steel Products

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.

The active rig count for the week ended Oct. 27 inched up in the US but edged down in Canada, according to oilfield services provider Baker Hughes.

CRU forecasts a stronger year for steel sheet demand in 2024 than in 2023 as growth continues in Asia and a recent period of contraction in the West ends.

Steel buyers said mills are less willing to budge on spot pricing for sheet products, but plate bucked this trend, according to SMU’s most recent survey data.

U.S. Steel on Thursday announced that it would increase spot prices for steel sheet by another $100 per ton.

Global steel production dropped in September for a third consecutive month, according to the latest figures from the World Steel Association (worldsteel). Approximately 149.3 million metric tons of crude steel were produced globally in September. That’s a 2.1% decline from the estimated 152.6 million metric tons produced in August. September’s production was down 1.5% from September […]

Members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) were bullish at the Tuesday, Oct. 24, meeting of its Sheet Metal/Air Handling Council.

US apparent supply increased to 8.65 million net tons in August, up 5% compared to 8.24 million tons July, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).  Apparent steel supply is determined by combining domestic steel mill shipments and finished US steel imports, then deducting total […]