AM/NS Calvert to produce electrical steel with IRA funding
After receiving a hefty federal tax credit, the AM/NS Calvert mill plans to move into the production of non-grain oriented electrical steel (NOES).
After receiving a hefty federal tax credit, the AM/NS Calvert mill plans to move into the production of non-grain oriented electrical steel (NOES).
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.
The steel market appears to be finding a new, higher normal with the shocks of the pandemic and the Ukraine in the rearview mirror.
The good news: a more profitable and consolidated post-Covid US steel industry has been able to invest in operations. That includes efforts to decarbonize.
The bad news: That “new normal” could be tested. Because it’s not just domestic sheet prices that have been volatile. Geopolitics are too.
I’m writing these Final thoughts from the 2024 ISRI Convention and Exposition in Las Vegas. I wasn’t the only one with the good idea to attend.
Approximately 6,625 others did – a new record for the event. So, a big congratulations to ISRI.
Sheet prices varied this week. While hot-rolled (HR) coil pricing was largely flat, cold-rolled (CR) coil and tandem product pricing eased slightly reflecting the momentum shift seen last week for HR coil. SMU’s average HR coil price was flat from last week at $835 per short ton (st) – potentially emphasizing the tension between competing […]
Following a strong February, US housing starts eased through March to a seven-month low, according to the most recent data from the US Census Bureau.
Steel industry veteran Mark Bush announced he will be joining AM/NS Calvert as area manager steelmaking.
Domestic raw steel production slipped from last week’s multi-month high, according to the American Iron and Steel Institute (AISI).
US light-vehicle (LV) sales rose to an unadjusted 1.44 million units in March, up 4.6% vs. year-ago levels, the US Bureau of Economic Analysis (BEA) reported. The year-on-year (y/y) growth in domestic LV sales came in despite a 1.3% month-on-month (m/m) decline.
Bula tapped as CEO of Finland’s Blastr
Flat Rolled = 58.3 shipping days of supply Plate = 60.6 shipping days of supply Flat Rolled US service center flat-rolled steel inventories edged up in March as shipments remained low. At the end of March, service centers carried 58.3 shipping days of supply on an adjusted basis, up from 56.6 shipping days in February. […]
U.S. Steel’s No. 8 blast furnace (BF8) at its Gary Works in northwest Indiana is undergoing a 45-day maintenance outage that started on April 4.
New York state saw a continued decline in manufacturing activity in April, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York
Does the price of ferrous scrap depend on the price of finished steel product? And how much of an influence do billet and slab prices have on scrap prices?