Steel News

Hot Rolled Futures: Reaching New Near-Term Lows

Thursday, September 28, 2017 5:49 PM

Hot Rolled Futures: Reaching New Near-Term Lows

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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September Foreign Steel Imports Trending toward 3.0 Million Ton Month

Thursday, September 28, 2017 5:23 PM

September Foreign Steel Imports Trending toward 3.0 Million Ton Month

As was mentioned in the previous issue of Steel Market Update, foreign steel imports for September continue to trend toward another 3.0 million net ton month based on SMU analysis of import license data. If imports come in around 3.0 mi..........

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ArcelorMittal to Idle Plate Rolling Mill

Thursday, September 28, 2017 4:39 PM

ArcelorMittal to Idle Plate Rolling Mill

ArcelorMittal USA will idle its rolling mill in Conshohocken, Pa., within the next year and consolidate its plate operations. Production from the mill will be transferred to the Coatesville and Burns Harbor facilities. The heat treat an..........

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Don’t Expect a Surge of Scrap from the Storms

Thursday, September 28, 2017 4:02 PM

Don’t Expect a Surge of Scrap from the Storms

Hurricanes Harvey and Irma were devastating for the many Americans still struggling to recover from the damage. But for the scrap metal market, contrary to common belief, the storms will be a mere blip.

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Schnitzer Expects Improved Results in Q4

Thursday, September 28, 2017 3:45 PM

Schnitzer Expects Improved Results in Q4

Schnitzer Steel Industries is expecting good results for its fourth quarter FY 2017, ending Aug. 31. Earnings per share are expected in the range of $0.60-$0.63, up from $0.59 in Q4 2016.

Autos and M..........

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AK Steel Rockport Workers Ratify Contract

Thursday, September 28, 2017 3:05 PM

AK Steel Rockport Workers Ratify Contract

Union members at AK Steel Rockport Works have ratified a new four-year labor agreement. The agreement covers 319 hourly production employees of the United Auto Workers (UAW) and will be in effect until Sept. 30, 2021.

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Worthington's Quarterly Earnings Slip

Thursday, September 28, 2017 2:44 PM

Worthington's Quarterly Earnings Slip

Despite a run of disruptions during its first quarter, Worthington CEO and Chairman John McConnell is optimistic about the new fiscal year.

"We believe that most of the markets we serve are healthy w..........

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Most Consumers Still Confident Despite Storms

Wednesday, September 27, 2017 8:12 PM

Most Consumers Still Confident Despite Storms

Consumer confidence took a hit in the storm-affected regions of the South, but overall remains at high levels, which is positive news for the U.S. economy.

“Consumer confidence decreased slightly i..........

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Durable Goods Stronger Than Expected

Wednesday, September 27, 2017 4:34 PM

Durable Goods Stronger Than Expected

Durable goods orders rose more than expected in August, picking up a gain of 1.7 percent versus a forecast for 1.0 percent, the U.S. Census Bureau announced today. The increase was welcomed after a 5.8 percent decline in July. A 45 perc..........

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Stelco Files for Public Offering

Wednesday, September 27, 2017 3:21 PM

Stelco Files for Public Offering

Canadian steel producer Stelco Holdings will go public with the sale of at least $150 million in shares. The company filed for an initial public offering on Wednesday with security regulators in Canada.

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