Category: Steel Products

Total steel exports rebounded 6% in April, rising to 842,000 short tons (st) according to the latest US Department of Commerce data.

Sufficient inventories resulting in softer demand continued to drag down US longs prices this month. Furthermore, lower scrap prices in May added to the downward pressure and expectations for June scrap are turning increasingly bearish. Import interest was also limited, particularly as competition among domestic producers rose.

Domestic steel shipments ticked up month over month (m/m) in April but were down year over year.

S drill rig activity held steady last week, remaining near two-year lows according to the latest update from Baker Hughes

The US OCTG Manufacturers Association (USOMA) announced that the US Customs and Border Protection (CBP) agency made an initial affirmative determination of duty evasion practices.

US drill rig activity eased further last week, receding to levels last seen at the start of 2022 according to the latest update from Baker Hughes

Steel Market Update’s Steel Demand Index fell five points to a 12-month low and moving further into contraction territory, according to our latest survey data.

The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if […]

From integrated to EAF, from hot-dipped galv to cold-rolled sheet, to the reputable vacuum tank degasser, the steel industry definitely has its own jargon. And we know our readers know that lingo backwards and forwards. Rather than test you on it, we thought we'd do something different.

U.S. Steel’s board of directors has published a letter accusing Cleveland-Cliffs of a campaign of “misinformation” intended to “derail the transaction” of Japan’s Nippon Steel Corp. (NSC) to buy the Pittsburgh-based steelmaker. However, Cliffs has clapped back, with a release rebutting USS’ allegations.

Big River Steel (BRS) made upward revisions to most of its galvanized coating extras this week, with new extras going into effect July 6.

Tenaris is blaming unfairly traded OCTG imports flooding the US market for its decision to lay off approximately 170 employees.

Domestic raw steel production continued to ramp up through last week, now up to a six-week high according to the latest release by the American Iron and Steel Institute (AISI).

Drilling activity ticked up in the US but declined in Canada during the week ended May 17, according to the latest release from Baker Hughes.

Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.

The Biden administration announced a series of actions on Tuesday targeting China’s "unfair" trade policies. These actions will, among other things, make imports of steel and aluminum from the Asian nation even more prohibitive.

Nucor chose to hold its consumer spot price (CSP) for hot-rolled (HR) coil steady this week after stunning the market last week with a significant price decline. The steelmaker said in a letter to customers on Monday morning that its $760-per-short-ton (st) CSP base price for HR coil is effective immediately. The price is unchanged from the CSP announced on May 6 but down $65/st from $825/st April 29.

Offshore cold-rolled (CR) coil prices remain much less expensive than domestic product, even as domestic prices have slipped to a six-month low, according to SMU’s latest check of the market.

March 2024 represents the third highest monthly steel import rate seen over the prior year.

Drilling activity declined in the US but increased in Canada, according to the latest data from Baker Hughes.

US steel mill shipments dropped in March on-year but were up from February, according to the most recent figures from the American Iron and Steel Institute (AISI).

Northwest Pipe’s profits more than doubled in the first quarter on-year, as the company expects a strong remainder of the year in both its steel pressure pipe and precast segments.

Latest AA extrusion shipment report shows persistently weak demand The US Aluminum Association released its latest shipment report for extruded products. According to the report, shipments in March 2024 totaled 383.2 million pounds, representing a drop of 10.6% y/y but a rise of 4.5% m/m. For the YTD period through March, total shipments are now […]

The number of active rigs in the US is now at the lowest level seen in over two years, while Canadian rigs have fallen to a four-month low.

Foreign cold-rolled (CR) coil remains much less expensive than domestic product, according to SMU’s latest check of the market.

Steel imports held steady in March, up just 1% from February according to preliminary Census data released earlier this week.

Cleveland-Cliffs is working on a solution for its recently idled mill in Weirton, W.Va., that will address pent-up demand for transformers, increase the need for its electrical steel, and get its workforce back to work.

Zekelman Industries will invest up to $120 million to expand the manufacturing capabilities and product offerings of its Atlas Tube subsidiary in Mississippi County, Ark.

Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]

After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]