ArcelorMittal is showing interest in buying the bankrupt India mill Bhushan Steel. Bhushan has a strong presence in the automotive steel market and has a production capacity of 5.6 million metric tons annually. Its debt is estimated at about $6.9 billion. Acquisition of Bhushan would give ArcelorMittal a foothold in India’s auto-grade steel market, which […]
On Tuesday of this week, ArcelorMittal USA announced new “minimum” base pricing on hot rolled, cold rolled and galvanized products. On Wednesday, Nucor and North Star BlueScope followed with increase announcements of their own of $40 per ton ($2.00/cwt). This morning (Thursday), NLMK USA emailed a letter to their customers advising of their intention to […]
The Steel Market Update (SMU) Steel Buyers Sentiment Index market cycle appears to have bottomed as buyers and sellers of flat rolled steel were slightly more optimistic than what we collected at the beginning of the month. We measured the single data point for those responding to our flat rolled steel market trends questionnaire this […]
On Monday of this week, Steel Market Update began collecting data for our mid-October flat rolled steel market trends analysis. We invited over 600 companies to participate in our questionnaire. The vast majority of the respondents are either service centers or manufacturing companies. Based on the data collected we found that prior to any of […]
Late this afternoon, the Nucor Sheet Group sent a written note to customers advising them of a $40 per ton ($2.00/cwt) price increase on spot orders of hot rolled, cold rolled and galvanized steel. This follows the announcement by ArcelorMittal USA yesterday, taking spot base prices to $625 per ton on hot rolled and $825 […]
ArcelorMittal USA began advising their customers late this evening of their intention to raise flat rolled steel base prices. In an internal memo sent to the ArcelorMittal commercial team the mill advised, “All new opportunities for hot rolled, cold rolled and coated sheet products that require delivery in the 4th Quarter of 2017 should be […]
ArcelorMittal USA began advising their customers late on Tuesday (October 17, 2017) of their intention to raise flat rolled steel base prices. In an internal memo sent to the ArcelorMittal commercial team the mill advised, “All new opportunities for hot rolled, cold rolled and coated sheet products that require delivery in the 4th Quarter of […]
Flat rolled steel prices continued their slow slog south (prices are moving lower). The pace has not accelerated, but there are questions as to whether some of the mills are cutting “quiet” deals in order to fill their fourth-quarter order book without giving the steel away. One service center put it to us this way: […]
Prior to the ArcelorMittal USA price increase announcement, Steel Market Update analysis of steel prices found flat rolled steel prices continuing their slow slog south (prices are moving lower). The pace has not accelerated, but there are questions as to whether some of the steel mills are cutting “quiet” deals in order to fill their […]
As the afternoon turned into evening, I began hearing rumors that a flat rolled price increase would be announced “soon.” I heard from a service center who was texting us from his car (a definite no-no) telling SMU that a yet to be named (by us) mill was moving prices. We are still waiting for […]
Zinc prices continue their rally that began in early 2016, taking the metal’s price to a 10-year high and raising the cost of producing galvanized steel and other products. Zinc prices have managed to breach the psychological ceiling of $3,000 per metric ton, which stalled rallies in November 2016 and February 2017. Breaking this ceiling […]
Some key price levels have been left in the dust when it comes to flat rolled and plate prices. On Friday of this past week, Steel Market Update (SMU) reduced the lower end of the range on hot rolled and our average dropped below $600 per ton. This week our HRC took a hit on […]
ArcelorMittal reports that a portion of its mill in Calvert, Ala., suffered minor damage over the weekend due to a small, localized tornado related to Hurricane Nate. The company halted production on Friday night for safety reasons, but resumed operations Sunday afternoon. No injuries were reported, and there was no damage to production lines or […]
ArcelorMittal reports that a portion of its mill in Calvert, Ala., suffered minor damage over the weekend due to a small, localized tornado related to Hurricane Nate. The company halted production on Friday night for safety reasons, but resumed operations Sunday afternoon. No injuries were reported, and there was no damage to production lines or […]
This evening I received a note from a reliable source advising me that AM/NS Calvert had been hit by a tornado associated with Hurricane Nate on Saturday. The information provided noted there was damage to the administration building, a storage building and some power lines on the property. There was no mention of any injuries. […]
In an effort to keep our readers as up to date as possible, we are adding some information to the steel mill maintenance schedule that we originally produced last week. The table did not change, but we did receive information from ArcelorMittal that we wanted to pass along. We received the following details regarding maintenance […]
Flat rolled steel prices continue to “drift,” with some items drifting lower, some staying the same and cold rolled actually increasing by $5 per ton. One commercial officer at a steel mill told SMU that in his view the range has shrunk for the products they produce. Even so, “We are finding business, and it […]
SMU Price Momentum Indicator is now at “lower,” meaning flat rolled steel spot prices are expected to move lower over the next 30 to 60 days. Steel prices have begun to retreat with benchmark hot rolled beginning the month at $630 per ton ($31.50/cwt) and ending the month down $20 to $610 per ton ($30.50/cwt). […]
Two new hot strip mills are in the works for the Mexican steel industry. Both ArcelorMittal and Ternium announced plans this week to make investments in their facilities to meet growing demand. The announcements coincide with decrees by Mexican President Enrique Peña Nieto creating three special economic zones that offer tax breaks to companies investing […]
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 and inspection operation will continue at Conshohocken using steel rolled by the sister facilities. The decision to idle the […]
When asked to comment on spot flat rolled steel prices this week, the president of a medium-sized service center told SMU, “Drifting. Demand seems down.” He went on to report that even with AK Steel and ArcelorMittal reporting extending lead times, the market “feels soft.” Other steel buyers reported that their perception of the market […]
A minor fire at the ArcelorMittal Burns Harbor plate mill caused a shutdown in operations on Friday. The fire began in the control room for one of the 160-inch shear lines. Firefighters responded to the incident from five area fire departments, said spokeswoman Mary Beth Holford. Paramedics evaluated two employees for smoke inhalation, but both […]
On Friday, Steel Market Update (SMU) adjusted our Price Momentum Indicator to Lower from Neutral. It is our opinion that flat rolled steel prices will move lower over the next 30 days for the following 10 reasons: First, when the head of commercial of a domestic steel mill tells SMU that “transaction pricing cannot go […]
Thyssenkrupp and Tata Steel have signed a preliminary agreement to merge their European steel activities in a 50/50 joint venture. The new entity will be named Thyssenkrupp Tata Steel and will be based in the Netherlands. The new company will have a workforce of about 48,000 at 34 locations. Major hubs of operations will be […]
The U.S. Department of Commerce announced its affirmative preliminary determinations in the countervailing duty investigations of imports of cold-drawn mechanical tubing from China and India. Commerce determined exporters of cold-drawn mechanical tubing from China and India received countervailable subsidies of 33.31 to 35.69 percent, and 3.04 percent and 8.09 percent, respectively. Commerce will instruct U.S. […]
Zinc is once again trading above $1.40 per pound ($1.42 as of 3:30 PM ET) and the smaller steel mills and converters are wondering why U.S. Steel, ArcelorMittal USA and Nucor haven’t made the move to higher zinc coating extras on galvanized steel? We have seen four mills make changes on their “spot” new orders: […]
Despite recent price increase announcements from major domestic mills and imports that are trending lower, wholesalers and distributors who sell galvanized steel products to the HVAC market don’t expect much change in lead times or pricing until there’s some resolution to the Section 232 and Vietnam circumvention trade actions pending in Washington. In the monthly […]
Weakening federal vehicle fuel economy standards would not relieve the auto industry of burdensome regulation, but rather would hurt job growth, as well as the environment, maintains the BlueGreen Alliance (BGA), a coalition of American labor unions and environmental organizations whose mission is to “work together to solve today’s environmental challenges in ways that create […]
ArcelorMittal is not expecting a big bump in business anytime soon due to the hurricane damage in Texas and the Southeast. “That will take a while to pass through,” said Wendell Carter, vice president and general manager of the steelmaker’s Indiana Harbor mill. Carter responded to questions during a media tour of the East Chicago, […]
Flat rolled steel average prices are once again “mixed” as some items have dropped, some have remained the same and some rose last week compared to the previous week. We received numbers from Platts, SteelBenchmarker and our own steel index late last week and we found hot rolled down $5 on SMU, up $7 on […]