Category: Steel Products

Steel Market Update’s Steel Demand Index remains in contraction territory despite marginal improvement, according to our latest survey data.

Mixed trends were observed in prices of ore-based metallics as demand stayed subdued in Europe and the US. Buying activity had been limited in the US due to several upcoming mill outages and ahead of the UAW strike. However, prices have found stability despite declines in prices of prime grades of scrap. In the CIS, […]

The number of active oil and gas drilling rigs in the US and Canada increased this week, according to the most recent data from oilfield services company Baker Hughes.

The LME aluminum 3-month price was broadly stable on the morning of Sept. 15 and was last seen trading near $2,208 per tonne.

The spread between hot-rolled coil (HRC) and galvanized sheet base prices widened throughout the summer as hot rolled prices declined faster than those of galvanized.

Nucor expects third-quarter earnings to be lower sequentially and on-year, the steelmaker said in earnings guidance on Thursday.

The overall steel mill negotiation rate jumped 14 percentage points this week vs. the last market check, with plate's rate rising by eight percentage points, according to SMU's most recent survey data.

Hot-rolled coil (HRC) futures prices fell after our last column published Aug. 17, putting in recent lows around $25-$30 per ton lower than the week prior

Turkish scrap import prices rose due to conclusion of several deals towards the end of last week as key buyers and sellers re-entered the market.

Domestic scrap prices for shredded and HMS were sideways in September vs. August. However, busheling fell precipitously during the month, according to scrap sources surveyed by SMU.

As the deadline for a United Auto Workers (UAW) strike nears, the vast majority of market participants polled by SMU expect union workers will strike.

The United Auto Workers (UAW) union is preparing a “strategic strike,” targeting specific plants at all three of the Detroit  automakers, according to a report in the Detroit Free Press.

US steel exports declined in July for a third consecutive month but remained elevated compared to recent years.

Steel Dynamics Inc. (Inc.) has entered into a long-term agreement with Array Technologies to provide a fixed supply of coil for the solar tracking equipment maker’s US projects.

Domestic steel production declined for the week ending Sept. 9, the third consecutive drop, according to data released by the American Iron and Steel Institute (AISI) on Monday, Sept. 11.

Domestic heating and cooling equipment shipments shifted down in July, according to newly released data from the Air Conditioning, Heating, and Refrigeration Institute (AHRI).

Automaker Stellantis presented what it said was a "strong" contract offer to the United Auto Workers (UAW) union on Friday. The union's initial reaction was not positive.

The US rotary rig count bounced back up this week, while Canada's shifted down, according to the latest data from oilfield services company Baker Hughes.

The LME aluminum three-month price was broadly stable again on the morning of Sept. 8 and was last seen trading at $2,180 per tonne.

The hot rolled (HR) forward curve has rebounded following the Labor Day weekend. The index this week surprised a few folks as it barely slid double figures and remains above $750 per short ton (ST).

US imports look to have fallen to their lowest monthly level so far this year, based on August import license data compiled by the US Department of Commerce.

H2 Green Steel said it has raised ~€1.5 billion (USD$1.6 billion) in equity to finance the company’s large-scale green steel plant in Boden, Sweden, and Europe’s first “giga-scale electrolyzer.”

Steel shipments in the US were down year over year and sequentially in July, according to the latest data from the American Iron and Steel Institute (AISI).

Sweden’s H2 Green Steel has signed an agreement with Brazilian miner Vale to jointly study the feasibility of developing green industrial hubs in Brazil and North America.

Domestic raw steel production was slightly down last week as the South showed the largest regional decline, according to data released by the American Iron and Steel Institute (AISI) on Monday, Sept 5.

Sheet prices declined again this week amid persistent concerns about a potential strike at union-represented automakers.

President Biden downplayed the prospect of a strike by the United Auto Workers (UAW) union in comments on Monday, according to a report by Detroit’s WXYZ’s news.

Turkish scrap import prices have remained relatively stable over the past two weeks due to slow trade activity. This was partly due to the holiday on August 30. CRU’s latest price assessment for HMS1/2 80:20 is $368 /metric ton CFR, up $1 /metric ton week-over-week (WoW) and up $21 /metric ton month-over-month (MoM). The holiday […]

US and Canadian rig counts both dropped last week, according to the latest data from oilfield services company Baker Hughes. Active rigs in the US fell to 631 as of Sept. 1, down by one from the previous week. US oil rigs remained unchanged week over week at 512, while gas rigs fell by one […]

Olympic Steel said Leah M. Kiley has been promoted to the role of general manager for the company’s Minneapolis plate processing facility.