Nucor posts lower Q1 profits, predicts dip in Q2 too
Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.
Nucor’s earnings slipped in the first quarter of this year, but the company said it launched key growth initiatives during this time period.
Domestic raw steel production slipped last week and now stands at a four-week low, according to the American Iron and Steel Institute (AISI).
Cleveland-Cliffs Inc. continued to lose money in the first quarter, with the steelmaker blaming the loss in part on the idling of its tinplate facility in Weirton, W.Va.
ArcelorMittal plans to build a new electrical steel manufacturing facility near its AM/NS Calvert joint-venture mill in Alabama.
AZZ Inc. said it is seeing improving demand for its coil coating services as it reported a solid quarterly performance.
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.
Nucor is holding its hot-rolled (HR) coil consumer spot price (CSP) flat this week.
I was in Las Vegas last week for ISRI’s annual convention. I like Vegas. I’ve had some fun there over the years. (I was married there nearly 20 years ago. We’re still together.) And last week was no exception.
So let’s start with the big news from Sin City. When the recycled materials industry meets for the big event next year, it will be under the banner of “ReMA” – not “ISRI”.
Workers at Volkswagen’s assembly plant in Chattanooga, Tenn., have voted overwhelmingly to join the United Autoworkers (UAW) union.
More than 3,600 ballots were cast, with 73% of Chattanooga workers voting to join the UAW and only 27% voting against unionization, per the UAW.
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. […]
Steel is a foundation of the global economy. It is an essential raw material for nearly every industry, from automotive and construction to transportation, machinery, and energy.
Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.
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 […]
Foreign cold-rolled (CR) coil remains less expensive than domestic product, according to SMU’s latest check of the market.
Drilling activity increased in the US but declined in Canada, according to the latest data from Baker Hughes.
Here’s a roundup of the latest news in the global aluminum market from our colleagues at CRU. Biden calls for tripling of Chinese steel and aluminum tariffs President Joe Biden is calling on the US Trade Representative (USTR) to consider increasing the existing section 301 import duty on Chinese steel and aluminum three-fold. The current […]
Nucor has appointed Nicole B. Theophilus to the newly created position of EVP of talent and human resources, effective April 29.
To the surprise of many — myself included — flat-rolled steel prices appear to be in a holding pattern… again. This is not familiar territory for hot-rolled (HR) coil, at least not over the past few years. Its pricing volatility (as my colleague Michael Cowden has noted in past columns) may rival the elastic moves […]
It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!!
While general economic conditions across the US improved slightly over the last six weeks, activity in the manufacturing sector was weak, according to the Fed’s latest Beige Book report.
Prices of steelmaking raw materials have moved in different directions over the last 30 days, according to Steel Market Update’s latest analysis.
A lot of economists were predicting a recession last year. Ken Simonson, chief economist for The Associated General Contractors of America (AGC), wasn’t one of them.
US hot-rolled (HR) coil has become gradually more expensive than offshore hot band in recent weeks, as stateside prices have stabilized while imports moved lower.
In this Premium analysis we cover North American oil and natural gas prices, drilling rig activity, and crude oil stock levels.
Metalformers expect economic activity to remain level over the next three months, according to the April Business Conditions Report from the Precision Metalforming Association (PMA).
North American auto assemblies ticked up in March vs. the prior month, according to LMC Automotive data. While assemblies were up month on month (m/m), they are down 4.5% year on year (y/y).
The Biden administration on Wednesday announced measures to support the domestic steel industry.
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
Russel Metals Inc.’s planned purchase of seven service centers in western Canada from Samuel, Son & Co. has been delayed.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.