U.S. Steel has closed its $774 million deal for the remaining stake in electric-arc furnace steelmaker (EAF) Big River Steel. “Taking a page from the Big River Steel playbook, we are closing on this world competitive green steel asset purchase under budget and ahead of schedule,” said U.S. Steel President and Chief Executive Officer David […]
Tex-Isle Inc. plans to build a new electric-resistance welded (ERW) pipe mill with annual capacity of 350,000 tons per year near Steel Dynamics Inc.’s (SDI’s) new flat-rolled mill in Sinton, Texas. The new pipe mill is scheduled to open in Robstown, Texas, in the third quarter of this year and will be adjacent to Tex-Isle’s […]
Plate prices usually carry a premium to hot-rolled coil tags – but that typical relationship has been turned upside down since early October. The question now: Could price hikes of at least $140 per ton announced by some North American plate mills last week help narrow the gap? The Numbers SMU’s hot-rolled coil price currently […]
The U.S. steel industry has enough capacity to meet demand even if the Biden administration passes a big infrastructure bill, said the top executive of the nation’s biggest steelmaker. The United States “desperately needs” an infrastructure package worth “more than $1 trillion,” and Nucor hopes such a bill will be passed in the early days […]
U.S. steel lobbying groups and the United Steelworkers union want the administration of President-elect Joseph Biden to keep Section 232 tariffs and quotas in place. The steel groups and the union think the protections are necessary because of global steel overcapacity and because of the economic impact of the Covid-19 pandemic, according to a recent […]
Most new U.S. flat-rolled electric-arc furnace steelmaking capacity won’t start up until the second half of this year, which could have big implications for spot hot-rolled coil prices. The back-ended nature of the capacity add means the market might sustain hot-rolled coil prices of $1,000 per ton or more longer than many buyers believe, industry sources […]
Big River Steel is running the new, second line at its steel mill in Osceola, Ark., at close to 90% of its rated capacity. “Big River Steel expected and has had another record startup in terms of its second furnace and caster,” said a company spokesperson in an email to Steel Market Update. The company […]
The U.S. electric-arc furnace steelmaking industry is eager to work with the administration of President-elect Joe Biden to craft better trade, infrastructure and manufacturing policies, the head of the Steel Manufacturers Association said. And those efforts could be fruitful given Biden’s moderate positions on those issues and the moderation that will be necessary to effectively […]
The Canada Border Services Agency has hit heavy plate from Germany and Taiwan with dumping margins as high as 80.6%. CBSA slapped German steelmaker AG der Dillinger Hüttenwerke with a dumping margin of 6.3% on its exports of heavy plate to Canada. All other German exporters face a dumping margin of 68.6%, according to a […]
Boomerang Tube has laid off 150 people at its mill in Liberty, Texas, because of a “rapid spike” in steel prices as well as in COVID-19 infections, according to documents filed with state labor officials. The layoffs were effective on Dec. 23, 2020, and affected approximately 50 salaried and 135 hourly employees, according to Worker Adjustment […]
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 […]
Evraz North America (NA) has followed Nucor in increasing plate prices by at least $140 per ton ($7/cwt). The steelmaker said that the increase was effective immediately and that it applied equally to all carbon, high-strength low-alloy, hot-rolled coil, normalized, and quenched-and-tempered products, according to a letter to customers Jan. 6. “We reserve the right […]
NLMK USA and striking workers at its operations in western Pennsylvania appear no closer to a labor accord than they were more than four months ago. And the two sides remain at loggerheads despite near-record hot-rolled coil prices and despite slab being available following the reset of the Section 232 quota on Brazilian semi-finished goods. […]
Metal coater AZZ Inc. has acquired privately held hot-dip galvanizing and zinc electroplating company Acme Galvanizing Inc. The deal, terms of which were not disclosed, includes all of Milwaukee-based Acme’s assets. The deal will extend the reach of Fort Worth, Texas-based AZZ into the Midwest, the company said. “With the acquisition of Acme, AZZ enhances […]
Nucor and SSAB Americas have raised plate prices sharply higher to ring in the New Year. Effective immediately, Nucor’s new ex-works base price for cut-to-length grade A36 plate is $940 per ton ($47/cwt), up $140 per ton from $800 per ton on Dec. 14, according to letters to customers dated Tuesday, Jan. 5. The new […]
U.S. steel producers are worried that a change to the Section 232 exclusion process could gut the Trump administration’s signature trade act. The focus of concern: The Commerce Department’s potential adoption of “General Approved Exclusions” (GAEs) into the Section 232 exemption process. “If permitted to stand, the GAEs will effectively eliminate Section 232 tariffs on […]
Brazil’s annual Section 232 slab quota has reset, a move that is likely to at least partially relieve a supply squeeze that has sent U.S. sheet prices to their highest point in more than 12 years. Brazil’s Section 232 slab quota for 2021 is approximately 3.86 million tons, according to information from U.S. Customs and […]
Brazil’s annual Section 232 slab quota has reset, a move that is likely to at least partially relieve a supply squeeze that has sent U.S. sheet prices to their highest point in more than 12 years. Brazil’s Section 232 slab quota for 2021 is approximately 3.86 million tons, according to information from U.S. Customs and […]
JSW Steel USA has begun to recall workers at its idled sheet mill in Mingo Junction, Ohio, as well as at its idled plate and pipe mills in Baytown, Texas, the company’s top executive said. “We still intend to start up both facilities in March,” JSW Steel USA CEO Mark Bush told Steel Market Update […]