As we worked through pricing data this week, it was evident that much of the spot buying has occurred over the past couple of months. In our HARDI steel conference call this morning, those on the call who reported their inventory levels told the group they were either carrying inventories that were higher than normal […]
By CRU Analyst James Campbell, from the Steel Sheet Products Market Outlook 2019 was a bad year for the steel industry. Prices and margins collapsed and, outside of China, demand contracted. However, the combination of a new restocking cycle and reduced output in many markets allowed producers to raise prices and margins at the end […]
As widely expected, Nucor was the first to announce another $40 increase in flat rolled steel prices Wednesday, followed closely by ArcelorMittal USA, NLMK USA, California Steel Industries, USS-POSCO Industries and Algoma Steel. This represents the fifth round of price hikes by the major mills since late October totaling around $190 per ton. In a […]
The following article discussing the global ferrous derivatives markets was written by David Feldstein. As an independent steel market analyst, advisor and trader, we believe he provides insightful commentary and trading ideas to our readers. Note that Steel Market Update does not take any positions on HRC or scrap trading, and any recommendations or comments […]
By CRU Analysts, from CRU’s Bulk Ferroalloys Monitor U.S. finished steel prices have risen following price increase announcements that found support from service center restocking. Adding to this price support was the scrap market, where scarcer supply and increased mill demand put prices on an upward trajectory. Some steel products have enjoyed quicker price gains […]
For those of you who stretched out the Christmas, Hanukkah and New Year’s Holidays and are just returning to your offices – Happy New Year and welcome to the decade that promises to make the last 10 years look tame. Steel Market Update will return to our normal market analysis schedule this week, and we […]
First issue of the New Year. For that matter, today is the first issue of the new decade. It will probably take awhile to get used to 2020 vs. 2019. Of course, with the political climate and it being an election year, maybe we will have 2020 ingrained in our heads sooner rather than later. […]
An explosion caused by a water and molten iron reaction at ArcelorMittal Indiana Harbor on Dec. 27 resulted in fire and damage to the #4 furnace. A spokesperson for ArcelorMittal said the company is assessing the damage to determine a timeline for repairs and the duration of the outage at IH 4 SP. ArcelorMittal will […]
Welcome back from the Christmas Holidays. This is the 149th Executive level issue of Steel Market Update produced during calendar year 2019. It is also anticipated to be the last Executive issue prior to the New Year. On Monday we will publish our last Premium issue of the year, our 49th for 2019. Christmas and […]
As widely expected, Nucor and U.S. Steel raised their flat rolled prices by $40 per ton on Monday, effective immediately on new spot orders, following on a comparable announcement by ArcelorMittal USA on Friday. NLMK USA is reported to be following suit, but has not issued a written announcement. USS-POSCO Industries (UPI) raised its base […]
Affirming that steel imports from Vietnam have been circumventing U.S. antidumping and countervailing duties, the Department of Commerce on Monday upheld its preliminary AD/CVD rates on imports of galvanized and cold rolled sheet from Vietnam manufactured with hot- or cold-rolled substrate from Korea and Taiwan. Steel products produced in Korea and Taiwan, shipped to Vietnam […]
ArcelorMittal and Nippon Steel have completed their acquisition of Essar Steel Limited. The new joint venture will be called ArcelorMittal Nippon Steel India Limited (AM/NS India). ArcelorMittal will hold a 60 percent share of the new entity and Nippon 40 percent. Aditya Mittal, President and CFO of ArcelorMittal, has been appointed Chairman of AM/NS India, […]
On Friday afternoon of this past week, ArcelorMittal USA began advising their flat rolled clients of their intention to raise sheet prices by $40 per ton. AMUSA customers were advised by phone and by email that base prices of hot rolled, cold rolled and coated products would increase effective immediately. At the same time, AMUSA […]
After declining for much of 2019, steel prices have moved up substantially in the last two months. Will the trend continue into 2020? Flat rolled steel producers raised prices three times during October and November for a total of $110 per ton. (Editor’s note: ArcelorMittal USA announced an additional $40 flat rolled increase on Friday. […]
Environmental damage and health issues have been a recurring theme in coverage of U.S. steel mills in the past few years. The issues, whether stemming from aging equipment or unanticipated accidents, are costing steel companies millions in repairs, penalties and lost production. U.S. Steel agreed on Dec. 4 to an $8.5 million tentative settlement in […]
New rounds of flat rolled price increases began on Friday with ArcelorMittal USA and NLMK USA taking the lead at $40 per ton. My expectation is the other mills will follow on Monday and Tuesday of this week. Watch lead times – with some of the mills they are beginning to stretch. Steel Dynamics has […]
The Nucor Plate Mill Group informed customers today, Dec. 10, that it has increased transaction prices on all new orders for carbon, alloy and heat-treated plate by a minimum of $50 per ton, effective immediately. Nucor’s move follows a similar announcement by SSAB Americas on Friday. Sources tell SMU that ArcelorMittal has also followed suit, […]
Editor’s note: Steel is the largest producer of global industrial CO2 emissions. So, as stemming climate change takes on ever greater urgency, steelmakers are challenged to find production methods that emit fewer greenhouse gases. New technologies in development range from improving process efficiency to carbon capture to using hydrogen instead of coal as fuel. Following […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor Sheet prices in the U.S. have risen at a strong rate, yet the underlying volume behind the prices is near the lowest level for the year. This low volume may be attributed to the holiday-shortened week, but more likely it reflects the fact […]
By CRU Senior Analyst Ryan Smith and Senior Consultant Sarah Macnaughton, from CRU’s Crude Steel Market Outlook Climate change is moving up the political agenda and putting increasing pressure on heavy industry to reduce their CO2 emissions. As the largest producer of global industrial CO2 emissions, the steel sector has a clear role to play in meeting […]
Last week U.S. Steel and ArcelorMittal USA announced a third round of price increases. This week Nucor and Algoma followed suit. Not every mill has followed their lead, however. As a result, there are still some holes out there. Where, why and from whom are the questions of the day, which we can’t answer at […]
Nucor’s Sheet Mill Group and Canada’s Algoma Steel have matched last week’s price increases by U.S. Steel and ArcelorMittal USA. Nucor informed customers on Monday that is has increased based prices on new orders of hot rolled, cold rolled and galvanized steel by a minimum of $30 per ton ($1.50/cwt). LIkewise, Algoma notified its flat […]
Nucor’s Plate Mill Group informed customers on Monday that it is raising prices on carbon and alloy plate and on heat-treated plate by a minimum of $40 per ton. The increase is effective on new orders accepted for January production. Nucor’s move follows on SSAB’s announcement on Friday that it was increasing transaction prices for […]
U.S. Steel and ArcelorMittal USA raised flat rolled by an additional $30 per ton ($1.50/cwt) on Friday as the mills seek to maintain the upward momentum on steel prices. Other mills are likely to follow suit. The latest announcements follow on two earlier increases of $40 per ton in late October and early November. U.S. […]
U.S. Steel and ArcelorMittal USA raised flat rolled by an additional $30 per ton ($1.50/cwt) on Friday as the mills seek to maintain the upward momentum on steel prices. Other mills are likely to follow suit. The latest announcements follow on two earlier increases of $40 per ton in late October and early November. U.S. […]
The domestic steel mills were busy on Friday with SSAB USA announcing a $40 per ton price increase on steel plate, and then U.S. Steel coming out with a $30 per ton price increase on flat rolled. The SSAB increase was the second on plate this month. Flat rolled has seen three price increase announcements […]
The domestic steel mills were busy on Friday with SSAB USA announcing a $40 per ton price increase on steel plate, and then U.S. Steel coming out with a $30 per ton price increase on flat rolled. The SSAB increase was the second on plate this month. Flat rolled has seen three price increase announcements […]
The mills may have announced two increases in flat rolled steel prices in the past month, but you couldn’t tell from comments by members of the Heating, Air Conditioning & Refrigeration Distributors International. The distributors of galvanized steel to the HVAC sector report little impact on prices so far, though demand remains healthy despite some […]
The first U.S.-flagged Great Lakes bulk carrier to be built in more than 35 years will be made from steel supplied by ArcelorMittal Burns Harbor. The carrier was commissioned by Interlake Steamship Company and will be built by Fincantieri Bay Shipbuilding. A ceremony celebrating the first cut of steel for the new vessel was held at […]
Today I was on a conference call with steel buyers associated with HARDI, the trade organization whose members sell galvanized steel and other products to mechanical contractors. We have an article about the call in this evening’s issue, but there was one fact that was brought up by multiple executives: the price increases “have not […]