Category: Steel Products

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 […]

Domestic raw steel production rebounded in the week ended Oct. 21, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 23. US steel output increased to 1,703,000 tons, up 0.5% from 1,695,000 net tons a week earlier. Though the change was small, it’s a recovery from a three week […]

After a meeting Friday at the White House, the EU and US issued a joint statement noting no concrete movement towards a Global Arrangement on Sustainable Steel and Aluminum.

The active rig count for the week ended Oct. 20 showed increases in both the US and Canada, according to oilfield services provider Baker Hughes.

LME Aluminum Continues To Trade Under Pressure; US Midwest Premium Stays Between 19–19.5¢/lb The LME aluminum 3-month price continued to trade under pressure on the morning of 20 October and was last seen trading at $2,177/t. The US Midwest premium showed no surprise as it continued to sit between 19–19.5 ¢/lb. The UAW strikes are […]

Nucor Corp. announced it is considering installing a new rebar micro mill in the Pacific Northwest.

Annual contract negotiations between buyers and mills in the US flat-rolled steel market are picking up pace as both look to lock in volume for the coming year. As these contracts are finalized, we expect that changes in the market will impact how 2024 contracts are ultimately structured. The primary change in the market is […]

Cleveland-Cliffs said on Thursday it's targeting a minimum base price for hot-rolled steel of $800 per net ton ($40 per cwt).

Much effort has been made in examining the supply chain of commodities related to electrification: everything from copper to aluminum to critical battery materials such as lithium, nickel, and cobalt. One overlooked material, however, is electrical steel.

Nucor Corp. aims to raise base prices for hot-rolled coil to a minimum of of $800 per ton ($40 per cwt).

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.

Subcontractors for U.S. Steel in Indiana stole ~20 million pounds of scrap valued at ~$2 million over a two-year period.

Steel Dynamics, Inc. (SDI) announced changes to its management team in a press release on Tuesday.

U.S. Steel, in collaboration with DuPont, announced on Tuesday a new product, COASTALUME™, engineered specifically for coastal environments.

Manufacturing activity decreased in New York in October, according to the most recent Empire State Manufacturing survey. The headline general business index fell to -4.6 in October from 6.5 points in September. The new orders index dipped nine points month over month to -4.2, while the shipments index dropped 11 points to 1.4. Twenty-four percent […]

Raw steel production in the US declined slightly in the week ending Oct. 14, according to data released by the American Iron and Steel Institute (AISI) on Monday, Oct. 16.

Heating and cooling equipment shipments in the US ticked up in August, according to newly released data from the Air Conditioning, Heating, and Refrigeration Institute (AHRI). Shipments in August totaled 1.9 million units, compared to 1.7 million units reported in July. Shipments were up 15% month over month (MoM) but down 2% year over year […]

The latest data from oilfield services provider Baker Hughes shows the number of active rotary rigs in the US and Canada bounced back during the week ended Friday, Oct. 13.

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.