For the 1,078 individuals who attended our conference on Monday through Wednesday of this week—first, we thank you for your business, your support, your kind words and for carrying the message back to your respective companies. We had a great conference. There can always be improvements. We constantly strive for perfection, so look for an […]
Steel Market Update is pleased to announce the recipient of the first SMU NexGen Leadership Award is Meredith Meade at Tempel Steel Company. Ms. Meade was presented her award by Steel Manufacturers Association CEO Philip Bell. SMA sponsored this year’s award, which attracted 21 highly qualified nominees from 18 companies. The finalists for the award were Ms. […]
The steel industry enjoyed a profitable first half of 2018 due to a strong economy and tariffs on imports that drove up domestic prices. The welcome windfall prompted several companies to commit large investments toward expansion and modernization of their facilities. In all, about 31 million net tons of new steel capacity could potentially come […]
Written by: John Packard, President & CEO, Steel Market Update Seven days to go… Seven days before the beginning of the 2019 SMU Steel Summit Conference in Atlanta. I have spoken to almost every single speaker, interfaced with the CRU Events team in London as well as our SMU team. All is going as planned. […]
The upturn in steel prices appears to have some staying power as both service centers and their manufacturer customers reported rising prices in the first half of July, according to findings from Steel Market Update’s latest market trends questionnaire. As seen in the chart below, the majority of service centers (54 percent) said they are […]
U.S. Steel is planning a fundamental change in the way it goes to market, informing its salesforce this week that it will no longer use index-based pricing effective with its 2020 contracts. Should other mills follow suit, the move has wide-ranging implications for steel prices and the way contracts are negotiated. In an Aug. 13 […]
As with any mill announcement, be it price, changes in production or in the case of the U.S. Steel’s announcement about how they are going to handle contracts going forward, there are always mixed opinions from steel buyers and from the other steel mills. This afternoon, Steel Market Update, as an index provider, spent a […]
Nearly 1,000 executives are registered with just two weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our 9th […]
Distributors of galvanized steel to the HVAC sector are paying higher prices to their suppliers, but having difficulty collecting the increase from their contractor customers, reported members of the Heating, Air Conditioning & Refrigeration Distributors International during their monthly conference call earlier today. Since HARDI’s last call, domestic flat rolled mills have announced three price […]
It is now three weeks to go before the beginning of the 2019 SMU Steel Summit Conference in Atlanta (Aug. 26-28). We want to remind everyone that the CME Group is hosting a Price Risk Management Workshop just prior to the opening of the conference on Monday at 10:30 a.m. Please find the link to […]
It is now three weeks to go before the beginning of the 2019 SMU Steel Summit Conference in Atlanta (Aug. 26-28). We want to remind everyone that the CME Group is hosting a Price Risk Management Workshop just prior to the opening of the conference on Monday at 10:30 a.m. Please find the link to […]
Steel Market Update is pleased to announce we have closed the nomination process for the 2019 SMU NexGen Leadership Award, and we have 21 solid candidates. Steel Market Update and the Steel Manufacturers Association want to say “well done” to each of the candidates and their nominating company. The judges will be reviewing the nominations […]
Editor’s note: In the following commentary, economist Alan Beaulieu reports on the coming slowdown in the U.S. economy. Beaulieu, the president of ITR Economics, will be a featured speaker at the Steel Market Update Steel Summit Aug. 26-28 in Atlanta. Click here for more information and to register. The U.S. economy, as measured by Industrial […]
Nucor’s Plate Group notified customers on Friday that it is raising the price of carbon and alloy plate and heat-treated plate by a minimum of $40 per ton ($2/cwt), effective immediately on all new spot orders. “In recent weeks, plate pricing has fallen to unsustainable levels. While end-use demand and project business remains stable, the […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
Steel Market Update and the Steel Manufacturers Association are committed to promoting youth and encouraging more young people to consider careers in the steel and manufacturing industries. The 2019 SMU NexGen Leadership Award is just one of the ways we are recognizing the existing talent within the industry. There is still time to get in […]
Following the lead of most of the other flat rolled mills, NLMK USA informed customers yesterday that it is raising spot prices on all products by a minimum of $40 per ton. Nucor, U.S. Steel and USS-POSCO Industries also announced $40 increases this week. ArcelorMittal USA released higher minimum base prices of $630 per ton […]
This week we solicited input from steel buyers (and steel mills) regarding their reaction to the third round of price increases, which was kicked off by ArcelorMittal USA yesterday. On June 24, Nucor announced the first of the latest round of mill price increases on spot flat rolled steel. Nucor advised that hot rolled, cold […]
Nucor’s Sheet Mill Group informed customers today that it is increasing base prices on new orders of flat rolled steel by an additional $40 per ton ($2/cwt), effective immediately. The announcement marks the third $40 increase by the market-leading steelmaker in the past month. The $40 price hike applies to all unconfirmed orders of hot […]
ArcelorMittal USA is the latest mill to increase flat rolled steel prices, announcing new minimum base prices in a letter to customers on Monday. Effective immediately, the company set its minimum price for hot rolled sheet at $630 per short ton, and cold rolled and coated products at $800 per short ton. If the mill […]
I had a long conference call this morning with the events team in London regarding the ongoing arrangements being made for the 2019 SMU Steel Summit Conference. I think those attending this year’s event will be very pleased with the cosmetic changes, more exposure for sponsors and exhibitors, networking opportunities and the availability to information […]
Steel Market Update has been analyzing service center inventories for two years now. With our acquisition by the CRU Group, we expanded the breadth and depth of our coverage. Our new Service Center Inventories Index will be rolled out to the public at the 2019 SMU Steel Summit Conference in Atlanta at the end of […]
By Fouad Egbaria, MetalMiner Editor’s note: The following article, Chatting with CRU’s Josh Spoores Ahead of the 2019 SMU Steel Summit, originally appeared in MetalMiner’s July 18 edition. Those in the steel sector will have a chance to learn about all of the trends impacting the steel industry during the upcoming SMU Steel Summit, scheduled […]
The 2019 SMU Steel Summit Conference Events App is now available for all registered attendees, sponsors and exhibitors to download and use. With the app, everything is at your fingertips: a detailed conference agenda, speaker information, a complete list of the attendees, sponsors, exhibitors, in-conference polling, and more. You can take notes as you go, […]
Steel Market Update, in partnership with the Steel Manufacturers Association, is now accepting nominations for the new SMU NexGen Leadership Award. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North […]
Nine business days left for you to nominate a young person from your company for the 2019 SMU NexGen Leadership Award. The deadline is by the end of business on August 1, 2019. The benefits of receiving this award are huge for the person who ultimately wins. A mentorship day with SDI CEO Mark Millett, […]
On Oct. 8-9, 2019, Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop in Cincinnati, Ohio. This workshop will include a tour of the Nucor Steel Gallatin Mill. Attendees get to work with our experienced instructors and to interact with others coming from different market sectors and […]
California Steel Industries is the latest mill to raise flat rolled steel prices. In a letter to customers on Wednesday, the Fontana, Calif.-based steelmaker said transaction prices for hot rolled, P&O, cold rolled and galvanized steels would increase by $40 per ton ($2/cwt) effective immediately. CSI’s move follows on similar announcements this week from Nucor, […]
As widely expected, U.S. Steel and NLMK USA notified customers Wednesday that they have increased flat rolled steel prices by $40 per ton, following on similar announcements by Nucor and ArcelorMittal the day before. All total, U.S. steelmakers have raised prices for hot rolled, cold rolled and galvanized steels by $80 per ton in the […]