Steel News

Active Gas & Oil Rig Counts in October

Friday, October 13, 2017 6:08 PM

Active Gas & Oil Rig Counts in October

The weekly U.S. rig count took a slight dip this week, according to Sept. 8 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs declined by 8 to 928 rigs, oil rigs declined 5 to 743 rigs, gas rigs fell..........

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Final Thoughts

Friday, October 13, 2017 12:00 PM

Final Thoughts

I had a whirlwind weekend having traveled to Cleveland to see family and to attend MidWest Materials' 65th anniversary. Brian Robbins and his crew did a great job paying homage to their past and current employees. The company is much di..........

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SMU Steel Distributor Inventories Rise

Thursday, October 12, 2017 8:34 PM

SMU Steel Distributor Inventories Rise

Steel Market Update (SMU) has been working with 40 flat rolled steel service centers as we develop a new index regarding flat rolled steel inventories being held at steel distributors in the United States. Based on the data collected th..........

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License Data Indicates Stubborn Import Market

Thursday, October 12, 2017 6:53 PM

License Data Indicates Stubborn Import Market

The expectation has been for a huge swing lower in the amount of flat rolled foreign steel imports coming into the United States in October. The industry is waiting for the combination of the drying up of the surge of orders placed to ..........

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Foreign vs. Domestic HR Price Comparison: Foreign Becoming Less Attractive

Thursday, October 12, 2017 5:57 PM

Foreign vs. Domestic HR Price Comparison: Foreign Becoming Less Attractive

The following calculation is used by Steel Market Update to identify the theoretical spread between foreign hot rolled steel import prices (delivered to USA ports) and domestic (USA) hot ..........

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Residuals Eroding Minimills’ Cost Advantage

Thursday, October 12, 2017 4:22 PM

Residuals Eroding Minimills’ Cost Advantage

What goes around comes around, as they say. In the case of the ferrous scrap market, what goes around and comes around again and again are residuals such as copper that complicate the steelmaking process and threaten to erode some of th..........

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Zinc Prices Soar as Zinc Traders Bullish

Thursday, October 12, 2017 3:00 PM

Zinc Prices Soar as Zinc Traders Bullish

Zinc prices continue their rally that began in early 2016, taking the metal’s price to a 10-year high and raising the cost of producing galvanized steel and other products. Zinc prices have managed to breach the psychological ceiling ..........

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Hot Rolled Futures: Modest Retreat

Thursday, October 12, 2017 2:58 PM

Hot Rolled Futures: Modest Retreat

The following article on the hot rolled coil (HRC) steel and financial futures markets was written by Jack Marshall of Crunch Risk LLC. Here is how Jack saw trading over the past week:

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Will NAFTA Round 4 Be the Knockout Blow?

Thursday, October 12, 2017 2:24 PM

Will NAFTA Round 4 Be the Knockout Blow?

The fourth round of NAFTA talks is under way in Washington with some negotiators fearing the demise of the 20-year-old agreement.

"There are several poison pill proposals still on the table that coul..........

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Tight Supply of Electrodes Jolts Stainless Minimills

Thursday, October 12, 2017 1:49 PM

Tight Supply of Electrodes Jolts Stainless Minimills

Tight supplies of graphite electrodes used in the electric arc furnace steelmaking process have raised electrode prices to the point that at least two stainless steel mills have increased their surcharges.

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