Severe winter weather across much of the U.S. has slowed commerce to a crawl in many areas, including disruptions to steel production and shipments that could linger for days. The National Weather Service warned Tuesday that the major winter storm responsible for producing big snow and ice accumulations in parts of the central and eastern […]
Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop, a virtual event, on Tuesday and Wednesday, May 11-12. This workshop was conducted in person for many years and has trained more than 1,000 individuals within the steel industry. We took the workshop into our virtual platform in […]
Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop, a virtual event, on Tuesday and Wednesday, May 11-12. The Steel 101 steel training workshop was conducted in person for many years and has trained more than 1,000 individuals within the steel industry. We took the workshop into […]
Wild swings in steel prices have become the norm rather than the exception during the 21st Century. It is not unusual to see prices move $40 to $100 per ton over a matter of days, and to double (or halve) in just a few months. How does a company that buys and sells steel manage the […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
The Congressional Steel Caucus–in a bi-partisan show of unity–has asked President Joe Biden to keep Section 232 tariffs and quotas in place. The request comes as the Biden administration has acknowledged that a review of trade policies enacted by former President Donald Trump is ongoing. “The review is underway of the previous administration’s trade policy […]
Every other week Steel Market Update conducts a detailed analysis of the flat rolled and plate steel markets. We invite close to 600 individuals associated with manufacturing, distribution, steel mills, trading companies and suppliers to those industries. We intentionally weight the invitations toward end users and steel distribution companies since they are the largest buyers […]
The next Steel 101 Virtual Workshop: Introduction to Steel Making and Market Fundamentals will take place on Feb. 9-10, with an upcoming workshop planned for May, if you can’t make these dates. If you are considering attending or sending some of your employees, there are still limited places available for next week, so you can register online. […]
The next Steel 101 Virtual Workshop: Introduction to Steel Making and Market Fundamentals will take place on Feb. 9-10, with an upcoming workshop planned for May, if you can’t make these dates. If you are considering attending or sending some of your employees, there are still limited places available for next week, so you can register online. […]
It might be T-shirt weather before steel buyers in Canada have access to spot tons of sheet and plate, according to market participants. The three main Canadian sheet suppliers–Algoma, Stelco and ArcelorMittal Dofasco–are largely sold out through May and are in some cases out as far as June. And when it comes to plate, Canada’s […]
Multiple major North American automakers have or will temporarily halt production because of a semiconductor shortage, something that could have an impact on steel and scrap prices. General Motors will effectively stop production at three assembly plants–one each in the United States, Canada and Mexico–next week because of a semiconductor shortage, the company confirmed. GM […]
Dr. Walter Kemmsies, managing partner at the Kemmsies Group, is bullish on the steel market for 2021. In comments during Tuesday’s virtual Tampa Steel Conference 2021, Kemmsies estimated a minimum metals demand of 218 million tons from 2021 to 2025, most of which will be steel. That is an additional 20 million tons in each of […]
Worthington Industries has sold its oil and gas equipment business to an affiliate of Ten Oaks Group, the company said. The deal includes operations in Bremen, Ohio, and Tulsa, Okla. Worthington said it would keep the land and lease it back to the new owners. “We’re pleased to find a family-owned buyer in Ten Oaks […]
The following article on the hot rolled coil (HRC), scrap and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week: Hot Rolled Price and forecast volatility continue to plague the ferrous markets, but how close are we to the top? Hot rolled […]
We continue to receive registrations for the 32nd annual Tampa Steel Conference to be held virtually next week on Feb. 2. We expect over 400 attendees once the conference opens. Here are some of the companies that registered just this week, those with an asterisk (*) next to their name means they have more than one person […]
I received a call from Cleveland-Cliffs in response to an inquiry I had made a couple of weeks back regarding the #6 blast furnace at their Cleveland steel mill. Cliffs wanted to make sure I understand as the #6 blast furnace comes back online that it is not to increase production, only to replace the […]
Steel training workshops are a good way to learn something new, to help motivate yourself or your employees, to meet new people and develop new sources and contacts within the industry. SMU has developed excellent programs from the basics about how steel is made, bought and sold, and the market forces that move prices, all […]
Steel training workshops are a good way to learn something new, to help motivate yourself or your employees, to meet new people and develop new sources and contacts within the industry. SMU has developed excellent programs from the basics about how steel is made, bought and sold, and the market forces that move prices, all […]
Earlier this week I received a note from one of our readers regarding the plate price index and the changes we recently made to the index (FOB Mill vs. Delivered pricing). We were asked how we are accomplishing this, and how do our members reconcile the historical data that was based on delivered pricing versus […]
“If you’ve tried to buy steel in the last six months, it’s a very frustrating climate,” said one member of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call this morning. HARDI is a trade group representing wholesalers who supply galvanized and other products to the construction/HVAC market. Demand is strong […]
Forecasts of weakness in commercial construction have not played out as analysts expected, at least not yet, contend members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI). Robust demand for HVAC and other galvanized steel products has shown no signs of abating, said members of the wholesale trade group during their monthly conference call […]
The Biden administration could act fast on a big infrastructure bill if the Senate is quick to approve the president-elect’s Cabinet, the head of the American Iron and Steel Institute (AISI) said. “By sometime this spring, I think we could have a major infrastructure bill done,” AISI President and Chief Executive Officer Kevin Dempsey said […]
By CRU Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor U.S. long product prices continued to surge into the month of February due to ongoing market tightness and strong demand. Imports remain too costly to seriously consider for the majority of buyers, given high international steel prices coupled with costly shipping rates and tariffs. Rebar […]
You may be thinking about participating in one of our upcoming Steel 101: Introduction to Steel Making & Market Fundamentals workshops, but wonder what it’s like to learn virtually. If you have school age kids, you already know that so many of us have adapted to online learning. Here at SMU, we’ve had to pivot […]
You may be thinking about participating in one of our upcoming Steel 101: Introduction to Steel Making & Market Fundamentals workshops, but wonder what it’s like to learn virtually. If you have school age kids, you already know that so many of us have adapted to online learning. Here at SMU, we’ve had to pivot […]
Update on Tampa Steel Conference registrations: We are moving past 250 registered attendees for the Feb. 2 virtual conference. We fully anticipate the 32nd annual Tampa Steel Conference will attract 350-400+ attendees from manufacturing, distribution, steel mills, trading companies, logistics companies, ship lines, port facilities, toll processors and suppliers to those industries. You can learn more about the […]
The latest SMU Market Survey results are now available on our website to all Premium members. After logging in at SteelMarketUpdate.com, visit the Analysis tab and look under the “Survey Results” section for “Latest Survey Results.” The historical survey results presentations also are available in the Survey Results section for “Survey Results History.” If you […]
At least two domestic steel and manufacturing lobbying groups have denounced the violence that temporarily halted the certification of President-elect Joe Biden’s victory over incumbent Donald Trump. National Association of Manufacturers President and Chief Executive Officer Jay Timmons said President Trump should be removed from office after a mob stormed the U.S. Capitol on Wednesday […]
Quality information is KEY…in steel and in life. I have been struggling on how to deal with what I saw Wednesday at the U.S. Capitol. We cannot allow thugs to attack the workings of our democracy. At the same time, we should hold those who spread disinformation to the public accountable for the disservice they […]
Flat rolled steel prices have started the new year strong, jumping by another $25-55 per ton and taking the benchmark hot rolled price above $1,000, within sight of the record high of $1,070 per ton seen in 2008. With steel still in tight supply and ferrous scrap prices likely to increase again in January, Steel […]