Algoma Steel Inc. aims to raise sheet and plate prices by $40 per ton ($2/cwt) effectively immediately for new spot orders. The price hike applies equally to hot-rolled coil, cold-rolled coil, as-rolled plate and heat-treated plate, the Canadian flat-rolled steelmaker said in letters to customers on Friday, March 5. Published extras will also be applied to […]
JSW Steel USA will resume melting and slab casting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, the week of March 7, the company’s top executive said. The steelmaker has also decided to begin the process of restarting its pipe mill in Baytown, Texas, JSW Steel USA CEO Mark Bush told Steel Market […]
Companhia Siderúrgica do Pecém (CSP) has delayed a scheduled shutdown of its blast furnace until the second half of 2021, a company spokeswoman said. The Brazilian steelmaker had originally planned to undertake the shutdown, necessary to implement “processes improvement,” in the second quarter of this year. “The initial date was postponed mainly due to the […]
Biden administration Commerce Secretary Gina Raimondo described Section 232 tariffs on imported steel and aluminum as “effective” on Thursday. “The data show that those tariffs have been effective,” Secretary Raimondo said in an interview with MSNBC. Raimondo’s comments are important because trade policies such as Section 232, which Trump rolled out in March 2018, fall […]
Flat-rolled steel imports to the United States rebounded in February, weighing in at their highest monthly total in more than a year. Hot-rolled imports, meanwhile, hit their highest point in more than two years, according to Commerce Department figures. And the trend is only just getting started, according to some market participants. The U.S. was […]
General Motors has extended production shutdowns at three North American plants because of a continuing microchip shortage. In addition, the automaker said it would take downtime at its Gravatai plant in Brazil. “Our intent is to make up as much production lost at these plants as possible,” a GM spokesman said on Wednesday, March 3. […]
SSAB Americas raised some eyebrows in the steel market when it officially announced a “scrap collar” along with an $80-per-ton ($4/cwt) plate price increase earlier this week. The move, while not unheard of in the steel market, is not necessarily typical for standard spot market plate orders, some buyer sources said. An SSAB Americas spokeswoman […]
SSAB Americas raised some eyebrows in the steel market when it officially announced a “scrap collar” along with an $80-per-ton ($4/cwt) plate price increase earlier this week. The move, while not unheard of in the steel market, is not necessarily typical for standard spot market plate orders, some buyer sources said. An SSAB Americas spokeswoman […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
United Steelworkers (USW) union members have voted to ratify a new labor contract with NLMK USA, ending a strike that began more than six months ago. There were 276 votes cast in favor of the new four-year contract and 103 against it, USW District 10 Staff Representative Todd Clary told Steel Market Update on Monday, March […]
United Steelworkers (USW) union members have voted to ratify a new labor contract with NLMK USA, ending a strike that began more than six months ago. There were 276 votes cast in favor of the new four-year contract and 103 against it, USW District 10 Staff Representative Todd Clary told Steel Market Update on Monday, March […]
SSAB has increased plate prices by $80 per ton ($4/cwt) for U.S. customers and C$100 per ton for customers in Canada. The price hike is effective immediately and applies to all new non-contract orders of as-rolled mill plate, cut-to-length plate more than 72 inches wide, hot rolled coils more than 72 inches wide, normalized plate […]
U.S. Trade Representative (USTR) nominee Katherine Tai expressed support for Section 232 tariffs on imported steel and aluminum, characterizing the duties as a “legitimate tool in the trade toolbox.” The prospective top U.S. trade negotiator also signaled that the U.S.-Mexico-Canada Agreement (USMCA) – the replacement to the North American Free Trade Agreement (Nafta) – would […]
The semiconductor shortage that has forced North American automakers to temporarily halt production at some assembly plants has spilled into the home appliance industry as well. The situation is severe enough that the Association of Home Appliance Manufacturers (AHAM), a lobbying group, has warned about potential re-allocations of semiconductors from that sector to others. There […]
U.S hot-rolled coil import volumes are at their highest level in at least two years–and import data for February is not yet complete. The U.S. is poised to import at least 162,357.3 metric tonnes of hot-rolled coil in February, according to import license data last updated by the Commerce Department on Wednesday, Feb. 24. That […]
U.S hot-rolled coil import volumes are at their highest level in at least two years–and import data for February is not yet complete. The U.S. is poised to import at least 162,357.3 metric tonnes of hot-rolled coil in February, according to import license data last updated by the Commerce Department on Wednesday, Feb. 24. That […]
JSW Steel USA resumed operations at its Baytown, Texas, plate and pipe mill on Feb. 25–earlier than expected, the company’s top executive said. And the steelmaker remains on track to begin melting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, in March, JSW Steel USA CEO Mark Bush told Steel Market Update. “We […]
JSW Steel USA resumed operations at its Baytown, Texas, plate and pipe mill on Feb. 25–earlier than expected, the company’s top executive said. And the steelmaker remains on track to begin melting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, in March, JSW Steel USA CEO Mark Bush told Steel Market Update. “We […]
Evraz North America has followed Nucor in increasing plate prices by at least $70 per ton ($3.50/cwt). The steelmaker said that the increase–$90 CAD for customers north of the border–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 letters to customers on Feb. […]
U.S. crude steel production fell sharply in January 2021 versus the same month last year even as production rose in most other major steelmaking nations, according to figures from the World Steel Association. And with domestic supplies scarce, some buyer sources have told Steel Market Update that they are taking a closer look at the […]
Nucor has increased plate prices by $70 per ton ($3.50/cwt) effective immediately. The steelmaker’s new ex-works base price for cut-to-length Grade A36 plate is now $1,090 per ton, up from $1,020 per ton a month ago. The new base price for quenched-and-tempered A514 Grade B is $1,340 per ton, up from $1,270 per ton in […]
Nucor has increased plate prices by $70 per ton ($3.50/cwt) effective immediately. The steelmaker’s new ex-works base price for cut-to-length Grade A36 plate is now $1,090 per ton, up from $1,020 per ton a month ago. The new base price for quenched-and-tempered A514 Grade B is $1,340 per ton, up from $1,270 per ton in […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held on Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
Preston Pipe Partner Rick Preckel will be the speaker at Steel Market Update’s next Community Chat webinar. The webinar will be held on Wednesday, March 3, at 11 a.m. ET and is free to those looking to learn more about the interplay between the steel and energy markets. Joining Rick will be SMU Senior Editor […]
President Joe Biden has signed an executive order officially implementing a U.S. supply chain review for critical products such as semiconductors – a lack of which has led to widespread automotive production outages. “Recent shortages of automotive semiconductor chips have forced slowdowns at car manufacturing plants, highlighting how shortages can hurt U.S. workers,” the White House said […]
Nucor is assessing damage and a timetable for repairs after a fire on a direct-reduced iron (DRI) conveyor belt system at its flat-rolled steel mill in Ghent, Ky., the company said. “The fire was quickly extinguished by local area fire departments, and there were no injuries as a result of the fire,” a Nucor spokeswoman […]
Algoma Steel has struck an arc at its second ladle metallurgy furnace (LMF), a move expected to increase capacity by approximately 100,000 tons per year, the company said. The second LMF – officially No.2 LMF – has annual capacity of 2.1 million tons and complements the Canadian flat-rolled steelmaker’s No.1 LMF. The addition of a second LMF […]
California Steel Industries (CSI) has closed its May order booked for flat-rolled steel just a week after opening it. “We want to thank you for your continued support during these difficult times. … We will contact you when we open the Flat Rolled order book for June,” CSI said in a Feb. 23 letter to […]
The U.S. Commerce Department has preliminarily increased anti-dumping margins on several major Japanese hot-rolled coil suppliers. Commerce calculated preliminary anti-dumping margins of 11.70% for Nippon Steel, Japan’s largest steelmaker, and 6.8% for Tokyo Steel Manufacturing. Nippon Steel and Tokyo Steel were the mandatory respondents in the case. But a litany of Japanese steel suppliers–including JFE […]