Liberty Steel, part of the GFG Alliance, will start recruiting workers for its recently acquired mill in Georgetown, S.C. The company hopes to restart production in the second quarter, following maintenance and upgrade of equipment and rampup of its electric arc furnace to full capacity as soon as feasible. Over the remainder of 2018, Liberty […]
Last week ended with a bang. Steel Market Update received an invitation to participate in a press conference as Department of Commerce Secretary Wilbur Ross told the world that the DOC had found that imports of foreign steel negatively impact the steel and aluminum industries, which are necessary in the United States for national security […]
Flat rolled and plate steel prices have been on the rise and are expected to continue climbing in the coming weeks. Yesterday, Nucor announced a new $50 per ton ($2.50/cwt) base price increase on plate. Steel Market Update anticipates flat rolled sheet prices will soon follow. With the latest Nucor announcement on plate the total […]
Flat rolled and plate steel prices have been on the rise and are expected to continue climbing in the coming weeks. Yesterday, Nucor announced a new $50 per ton ($2.50/cwt) base price increase on plate. Steel Market Update anticipates flat rolled sheet prices will soon follow. With the latest Nucor announcement on plate the total […]
It appears that the market is being set for the next round of flat rolled price increases. With benchmark hot rolled averaging $745 per ton, which is essentially at the levels suggested by ArcelorMittal USA in their last announcement, then there is nothing to stop another increase. I heard from a buyer earlier this week […]
Steel prices continue their march higher, and we are seeing a very strong market on hot rolled coil right now. With the strength of HRC, we are seeing a return to more normal price spreads between hot rolled, cold rolled and coated base pricing. Prices appear to be heading to even loftier levels with steel […]
ArcelorMittal Mexico has contracted with Primetals Technologies for the construction of a new hot strip mill at Lázaro Cárdenas. Primetals will erect the hot strip mill and a hot skin pass mill, including power supply, mechanical equipment, drives and automation. The mill is designed for an annual capacity of 2.5 million metric tons of hot […]
It is not enough to know a steel mill’s base price. When doing a comparison of galvanized transaction pricing, a steel buyer must understand the extras being added to the base price as well as freight and other considerations that could impact the total delivered cost to your facility. During our Steel 101 workshop we […]
ArcelorMittal’s NAFTA segment saw crude steel production decrease 5.2 percent to 5.6 million metric tons in the fourth quarter due to operational issues in Mexico, planned maintenance at Dofasco, and a slower U.S. market. Steel shipments declined 8.9 percent to 4.2 million metric tons, primarily driven by lower volumes in flat and long products. Sales […]
Responding to strong demand in the New Year and the market’s apparent acceptance of higher price tags, the major mills have announced another round of price increases on plate and flat rolled products. For most mills, this is the fourth increase they’ve announced in the past three months. On Monday, Nucor’s Plate Mill Group announced […]
The Nucor Sheet Mill Group informed customers on Friday of this past week, that it is raising base prices on new orders by a minimum of $30 per ton on hot rolled, cold rolled and galvanized products. Nucor’s latest hike follows a $40 per ton increase the steelmaker announced on flat rolled spot prices early […]
The Nucor Sheet Mill Group informed customers today, Friday, that it is raising base prices on new orders by a minimum of $30 per ton on hot rolled, cold rolled and galvanized products. Nucor’s latest hike follows a $40 per ton increase the steelmaker announced on flat rolled spot prices early this month. On Thursday, […]
West Coast steel mills California Steel Industries (CSI) and USS-POSCO Industries (UPI) announced further flat roll price increases yesterday, Jan. 24. Today, ArcelorMittal USA began advising their flat rolled customers of a change in their minimum base price levels on hot rolled, cold rolled and coated steels. CSI told customers that due to changing market […]
ArcelorMittal announced that it will invest CAD $70 million (U.S. $56.8 million) in its Contrecoeur, Quebec, wire rod and bar facilities. Two reheating furnaces will be replaced at Contrecoeur-East wire rod mill and its Contrecoeur-West steel bar mill. The furnaces will increase the company’s rolling capacity by 100,000 metric tons with greater efficiency and reduced […]
ArcelorMittal USA is in the process of changing up production at its Cleveland mill. The company plans to transfer the production of cold-rolled annealed steels produced at ArcelorMittal Cleveland to its operations in East Chicago and Burns Harbor, Ind. The product transfer plan is in development with targeted completion by the end of June. While […]
The wheels are moving and things are happening that are going to affect the momentum behind this market. First, there are new price increase announcements being made, first out of California and now by ArcelorMittal USA, which has put new base prices into the market. Second, Big River Steel put their customers on allocation for […]
Future automotive trends reinforce the role of steel, says Greg Ludkovsky, vice president of global R&D for ArcelorMittal. In the following commentary, Ludkovsky contends that steel offers the optimal balance of strength, performance and mass reduction with the least impact on the environment compared to aluminum and other materials: While sales of battery electric vehicles […]
Future automotive trends reinforce the role of steel, says Greg Ludkovsky, vice president of global R&D for ArcelorMittal. In the following commentary, Ludkovsky contends that steel offers the optimal balance of strength, performance and mass reduction with the least impact on the environment compared to aluminum and other materials: While sales of battery electric vehicles […]
Steel plate prices are rising as demand tightens and lead times lengthen. On Thursday of this past week, Steel Market Update published an article containing comments from steel buyers in both flat rolled and plate steel products. One comment sparked a discussion between one of the domestic steel mills and SMU (and indirectly with the […]
As we collected hot rolled, cold rolled, galvanized, Galvalume and plate prices earlier this week, we asked a number of questions trying to get reactions from the steel buyers. We asked how high steel prices could go (using hot rolled as the benchmark) and what were the key drivers affecting prices right now. Here are […]
A handful of carbon steel plate mills have followed Nucor’s lead and announced price increases of $50 per ton today, effective immediately on all new or unconfirmed orders. All extras will remain unchanged. Evraz North America increased transactional prices on all carbon, HSLA, Hot Rolled Coil, Normalized, and all Quenched & Tempered products including Armor […]
A handful of carbon steel plate mills have followed Nucor’s lead and announced price increases of $50 per ton today, effective immediately on all new or unconfirmed orders. All extras will remain unchanged. Evraz North America increased transactional prices on all carbon, HSLA, Hot Rolled Coil, Normalized, and all Quenched & Tempered products including Armor […]
Anticipation is building over the Commerce Department’s Section 232 report, which is finally due to the White House in the next few days. Will its recommendations to the president on trade action to protect the national security prove to be a bombshell or a bust? Proponents of new tariffs or quotas on steel imports have […]
We have had companies contact us already regarding when registration will open for the 2018 SMU Steel Summit Conference. We will be working on the Steel Summit section of the website tomorrow (Wednesday) with the hope to open up registration for the Aug. 27-29, 2018, event on Friday of this week. We will also open […]
On Wednesday, Jan. 3, 2018, Nucor announced a $40 per ton price increase on all spot flat rolled products produced at their steel mills. Their announcement was quickly followed by similar announcements on hot rolled, cold rolled and coated steels (galvanized and Galvalume) by U.S. Steel, NLMK USA and AK Steel. On Friday of this […]
Following on the $40 per ton price hikes by most domestic mills earlier this week, ArcelorMittal USA announced the following minimum prices on its carbon steel sheet products today: hot rolled, $720/ton; cold rolled, $900/ton; and hot-dipped galvanized, $900/ton. The new prices are effective immediately on all new and unconfirmed orders with ArcelorMittal USA and […]
The fire at AK Steel helped some buyers to accept the price levels being suggested by the domestic mills. Steel Market Update heard from a number of sources that offer prices were in many cases close to the levels suggested by ArcelorMittal USA in their most recent price announcement: $720 per ton hot rolled ($36.00/cwt) […]
The following article on the hot rolled coil (HRC) futures markets was written by David Feldstein. As the Flack Global Metals Director of Risk Management, Dave is an active participant in the hot rolled futures market, and we believe he provides insightful commentary and trading ideas to our readers. Besides writing futures articles for Steel […]
The ArcelorMittal Georgetown wire rod steelworks will get new life under Liberty House, part of the global metals and energy group GFG Alliance, which announced on Monday it has completed the acquisition of Georgetown. The mill includes an electric arc furnace with a capacity of 540,090 metric tons per year and a 680,000-ton annual capacity […]
ArcelorMittal’s new headquarters in Luxembourg will be a testament to the strength and beauty of steel. The primarily steel and glass structure designed by Wilmotte & Associés will “showcase the diverse benefits of steel over other building materials,” said ArcelorMittal in a press release. Approximately 5,000 to 7,000 metric tons of steel produced in Luxembourg […]