Cleveland-Cliffs and AK Steel Holdings surprised the market this morning, announcing the merger of their two companies. Under a definitive merger agreement, Cleveland-Cliffs will acquire all the issued and outstanding stock of AK Steel at $3.35 per share or $1.1 billion. Cliffs Chairman and CEO Lourenco Goncalves will lead the expanded organization and AK Steel […]
This morning President Trump tweeted that due to currency manipulation by Brazil and Argentina, he intends to place 25 percent tariffs on steel from both countries, and a 10 percent tariff on aluminum. His tweet has created a great deal of confusion in the U.S. steel markets. Steel Market Update is attempting to help calm […]
A water pipe break at U.S. Steel Gary Works has resulted in the shutdown of all furnaces at the facility due to safety concerns. Said U.S. Steel spokeswoman Amanda Malkowski, “On November 27, U.S. Steel reported a service water leak that caused flooding at our Gary Works facility near our blast furnace operations. As a […]
U.S. Steel and ArcelorMittal USA raised flat rolled by an additional $30 per ton ($1.50/cwt) on Friday as the mills seek to maintain the upward momentum on steel prices. Other mills are likely to follow suit. The latest announcements follow on two earlier increases of $40 per ton in late October and early November. U.S. […]
On Friday morning, SSAB announced another steel plate price increase. In a letter emailed to customers, SSAB advised their intention to raise “transaction prices by a minimum of $40 per ton effective immediately for all new non-contract orders.” The increase, which is the second $40 increase announced by SSAB so far this month, applies to […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: As the Section 232 tariffs continue, their market effects continue to pile up. The tariffs cause effects on investment and employment, both for steel producers and their customers. Tariffs reduce imports of steel, for example, but they increase […]
Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […]
The domestic steel mills were busy on Friday with SSAB USA announcing a $40 per ton price increase on steel plate, and then U.S. Steel coming out with a $30 per ton price increase on flat rolled. The SSAB increase was the second on plate this month. Flat rolled has seen three price increase announcements […]
It’s not too soon to save the date for next year’s SMU Steel Summit 2020, set for Aug. 24-26 in Atlanta. Just click the image below for details. We are delighted to announce details of the 10th SMU Steel Summit, which will again be held in Atlanta in 2020. Widely regarded as the premier steel […]
As part of our process of strengthening Steel Market Update’s services, we have made some additions and improvements. After reviewing our subscription models and receiving feedback from our valued customers, we have streamlined our membership options. We believe these changes will be beneficial for our members and allow for greater access to the service. The […]
There is one constant to our SMU Steel 101: Introduction to Steel Making & Market Fundamentals Workshop – just about everyone who takes the workshop enjoys it and sees the value in the subject matter being taught. This has resulted in many of our past attendees working their way up within their company’s management structure. […]
There is one constant to our SMU Steel 101: Introduction to Steel Making & Market Fundamentals Workshop – just about everyone who takes the workshop enjoys it and sees the value in the subject matter being taught. This has resulted in many of our past attendees working their way up within their company’s management structure. […]
Although too early to be called a trend, the latest readings in Steel Market Update’s Steel Buyer’s Sentiment Index show a slight uptick in optimism following recent price increase announcements by the mills. The goal of the index is to measure how buyers and sellers of steel feel about their company’s ability to be successful […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The world has grown accustomed to the World Trade Organization. A world without a means to settle disputes through negotiations or, if agreement is impossible, binding dispute resolution, is a hallmark of the WTO system. From 1948 to […]
Needle coke and graphite electrode availability has been under pressure since 2017 following substantial financially and environmentally driven capacity closures, particularly in China. With prices under pressure in 2019, and margins rapidly falling, the graphite electrode and needle coke markets appear to be at a crossroads with many questions about the future for these markets. […]
Next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop: Jan. 8-9, 2020, in Ontario, Calif. Next Mill Tour: California Steel Industries, Fontana, Calif. This will be our 30th Steel 101 Workshop since inception. The Steel Market Update Steel 101: Introduction to Steel Making & Market Fundamentals Workshop has trained close to 1,000 people […]
Next Steel 101: Introduction to Steel Making & Market Fundamentals Workshop: Jan. 8-9, 2020, in Ontario, Calif. Next Mill Tour: California Steel Industries, Fontana, Calif. This will be our 30th Steel 101 Workshop since inception. The Steel Market Update Steel 101: Introduction to Steel Making & Market Fundamentals Workshop has trained close to 1,000 people […]
Nucor and U.S. Steel raised prices on their flat rolled products by $40 per ton ($2/cwt) today, following on similar announcements by ArcelorMittal and NLMK USA yesterday. The mills are hoping to reverse the slide that has taken the benchmark price of hot rolled steel from more than $700 per ton to less than $500 […]
Speculation that steel prices were near the bottom and the mills were contemplating a price increase has proven out as ArcelorMittal became the first to hike flat rolled prices today by $40 per ton. Other mills are expected to follow. ArcelorMittal informed its commercial team today that it is raising base prices on light flat […]
By John Packard, President & CEO, Steel Market Update On Monday, I spoke to the North American Steel Alliance (NASA) in Chicago. My comments centered on a wide variety of proprietary indices Steel Market Update produces–our flat rolled and plate indices, SMU Sentiment Index, SMU Service Center Inventories and Shipments data, Mill Lead Times and […]
Two out of three service centers responding to Steel Market Update’s market trends questionnaire last week admit they are lowering spot prices to secure sales in the current market environment. Based on feedback from their customers, that figure (67 percent) may be conservative. As seen in the chart below, none of the service center executives […]
U.S. Steel announced today a joint venture partnership agreement under which it has taken the first step towards acquiring Big River Steel through the purchase of a 49.9 percent ownership interest at a purchase price of approximately $700 million in cash, with a call option to acquire the remaining 50.1 percent within the next four years. […]
Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […]
Virgin steel is made with iron ore, coke and limestone. It was done that way, and only that way, for many decades. Then along came the “mini” mills. So-called minimills recycle ferrous scrap, mixing it with pig iron or other iron units and melting it down in large electric arc furnaces to produce new steel. […]
Steel Market Update’s analysis of flat rolled and plate inventories and shipments, reported earlier this week to data providers and Premium subscribers, shows flat rolled inventories of 55.8 days of supply, and plate inventories of 52.1 days, as of the end of August. Service center flat rolled inventories remained elevated, while plate saw a reduction […]
Any upward momentum the mills may have seen from their price increases earlier this summer has apparently run its course. Service centers are no longer supporting higher prices, according to findings from Steel Market Update’s latest market trends questionnaire. As seen in the chart below, none of the service center executives responding to SMU’s poll […]
On Jan. 7-8, 2020, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Ontario, Calif. This workshop will include a tour of the California Steel Industries mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader understanding of: How steel […]
On Jan. 7-8, 2020, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Ontario, Calif. This workshop will include a tour of the California Steel Industries mill. Why do companies send employees to our Steel 101 workshops? Because they receive a broader understanding of: How steel […]
Do plans by U.S. mills to add millions of tons of new steelmaking capacity over the next few years make a price-killing supply glut inevitable? That’s a question very much open to debate, as shown by the spirited exchange between three leading analysts during Steel Market Update’s Steel Summit Aug. 28 in Atlanta. Despite some […]
CHARLOTTE, N.C., Sept. 6, 2019 /PRNewswire/ — Nucor Corporation (NYSE: NUE) announced today that John J. Ferriola, 67, will retire as Chairman and Chief Executive Officer (CEO) on December 31, 2019 and that the Board of Directors elected Leon J. Topalian, 51, to be President and Chief Operating Officer, effective September 5, 2019, and to […]