Tag: ArcelorMittal

Cleveland-Cliffs swung to a profit in the second quarter after losing money in the first.

A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the July 25 meeting of its Sheet Metal/Air Handling Council. During June’s meeting, 36% of […]

Cleveland-Cliffs swung to a profit in the second quarter after losing money in the first. The Cleveland-based steelmaker and iron ore miner predicted that the good times would continue to roll into the second half on what is said was continued strength in automotive demand. “While the performance of our automotive clients continues to improve, […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

Join us for SMU’s next Community Chat webinar with Wolfe Research managing director Timna Tanners. The webinar will be held on Wednesday, July 12, at 11 am ET. It’s free for all to attend. A recording will be available to SMU members. You can register here. We’ll talk about what Tanners describes as “the myth […]

The US Department of Commerce recently updated antidumping and countervailing duty rates on a number of different welded pipe and tube products. An SMU review of the US government’s Federal Register show the following changes by Commerce in multiple administrative reviews: Welded Line Pipe from South Korea Considering the one-year period ended Nov. 30, 2021, […]

France’s labor inspectorate has told Luxembourg-headquartered ArcelorMittal to temporarily close the hot end of its Fos-sur-Mer steel works because insufficient protection measures are exposing employees to high levels of toxic products and dust. The order will lead to the shutdown of the entire site, local media reported. The plant has been the subject of several […]

Primetals Technologies and LanzaTech announced the signing of a renewed 10-year cooperation agreement around the steel industry’s “green transition,” the companies said on Tuesday, June 27. Headquartered in London, Primetals seeks new solutions in metals production, and sustainable ways to produce steel, aluminum, and other metals, according to its website. Meanwhile, LanzaTech, with headquarters in […]

Companies should keep a watchful eye on pricing and lead times, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the June 27 meeting of its Sheet Metal/Air Handling Council. During May’s meeting, most HARDI participants thought that prices would continue to drop. Over half of the individuals thought it […]

How can SMU’s sheet prices go down shortly after a round of $50-per-ton mill price hikes? Long story short: It’s because we’re capturing both pre- and post-increase pricing in our survey as well as in calls and emails with some of you. And, as those of you who’ve been in the industry for a while […]

The US Department of Commerce’s International Trade Administration (ITA) is updating the antidumping duties on carbon and alloy cut-to-length steel plate imported from Belgium. In an administrative review of the AD duties, the ITA is considering the one-year period ended April 30, 2022. In its preliminary ruling, the agency set the weighted-average dumping margin at […]

ArcelorMittal has followed U.S. Steel and Nucor in an attempt to increase sheet prices by $50 per ton ($2.50 per cwt). The Luxembourg-based steelmaker also specified new minimum base prices: $950 per ton for hot-rolled coil (HRC) and $1,150 per ton for cold-rolled and coated products. ArcelorMittal made the price hike announcement with the opening […]

We are counting down the days until SMU’s Steel Summit Conference on Monday-Wednesday, Aug. 21-23, in Atlanta. It’s only a little over two months away. Approximately 755 people have already registered. Our discounted room blocks are almost gone. Register here. The event will again be held at the Georgia International Convention Center, a massive conference center in close […]

With the 2023 SMU Steel Summit quickly approaching, SMU is in full-blown planning mode. Our preparations have me reflecting on last year’s event and what I personally can do to better take full advantage of all the opportunities this year’s event will bring. (Note: CRU and SMU are hosting a free pre-conference webinar on Tuesday, […]

TT Iron Steel Co. Ltd. (TTIS) has signed an agreement to acquire the ArcelorMittal Point Lisas iron and steel plant in Trinidad and Tobago. Completion of the transaction is subject to approval by Trinidad and Tobago’s government, TTIS said in a release on June 7. The company said initial refurbishment and restart of the plant […]

General Motors will soon be sourcing low-carbon steel from ArcelorMittal North America. The steelmaker said it will provide the Detroit-based automaker with its XCarb™ recycled and renewably produced (RRP) steel made at its ArcelorMittal Dofasco plant in Hamilton, Ontario. Shipments are anticipated to begin in the current quarter, ArcelorMittal said in a statement. Made via […]

Decarbonization was the order of the day at the AISTech 2023 President’s Award Breakfast on Tuesday. Other issues highlighted included workforce availability and bringing more women into the steel industry. With over 1,300 attendees present at the breakfast in Huntington Place in Detroit, and hundreds more watching online, the AIST Board of Directors Awards were […]

The most recent cycle of destocking has ended, ArcelorMittal said, with first-quarter sales and shipments rising notably from the prior quarter, boosted by strength in the North American region. Those figures remain lower, however, compared to highs seen in the year-ago quarter. The Luxembourg-based global steelmaking giant posted Q1 net income of $1.096 billion, a […]

Our hot-rolled coil price slipped modestly again this week. That wasn’t a surprise given the trends we’ve outlined in our newsletters over the last few weeks – shorter lead times, increased domestic output, and mills more willing to negotiate lower prices. Declines often aren’t modest for long. Could we see bigger drops in two weeks […]

ArcelorMittal is expecting to soon bring two of its European blast furnaces (BFs) back online after two-month, unplanned outages. A spokesperson for the Luxembourg-based company told SMU that they anticipate the BFs, one in Spain and one in France, to be back up and running between the end of this month and the beginning of […]

As you make your travel plans for this summer, don’t forget about this year’s Steel Summit Conference in Atlanta. The event will again be held at the Georgia International Convention Center, a world-class conference facility adjacent to the Hartsfield-Jackson Atlanta International Airport—think low airfares and easy access. So mark your calendar for Monday-Wednesday, Aug. 21-23. The […]

I sometimes think of Steel Market Update as an early-warning system for big market moves, and our most recent survey data clearly points to a market inflection. Take these three slides from our latest steel market survey. SMU Steel Market Survey Highlights For starters, nearly half of respondents to our latest survey think lead times […]

ArcelorMittal is anticipating delays in shipments after recent incidents took down two of its European blast furnaces (BFs).  On March 22, a serious fire totally disabled BF A at its mill in Gijón, Asturias, in northeast Spain. Then, on March 30, BF HF4 at its Dunkirk plant in northern France was idled after a similar […]

Voestalpine AG is set to commission the construction of two electric-arc furnaces (EAFs) in Austria. The Linz, Austria-based company said the approval stage has been reached allowing for the investment of around €1.5 billion ($1.62 bilion) to construct one EAF in Linz and another in Donawitz. As part of its “greentec steel” plan, the plant and […]

Imports of hot-rolled coil (HRC) are becoming more attractive as US mills continue to drive domestic prices higher. The price advantage domestic HRC had enjoyed over offshore hot band as recently as five weeks ago swung negative, mirroring dynamics seen more than a year ago, according to Steel Market Update’s latest foreign vs. domestic price […]

Flat-rolled steel prices continue to rise in response to repeated mill pricing announcements, a trend we’ve seen nearly weekly since Monday, Nov. 28, 2022. Hot-rolled coil (HRC) prices have surged by $490 per ton – a 78% jump – since Cleveland-Cliffs and US Steel kicked off the craze with $60-per-ton price hikes. On Monday, Cliffs […]

ArcelorMittal has completed the acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) for approximately $2.2 billion. Located in the state of Ceará in northeast Brazil, CSP produces slab and operates a 3-million-ton capacity blast furnace. “This is a very exciting strategic acquisition for ArcelorMittal,” ArcelorMittal CEO Aditya Mittal said in a statement. “It enables us to capture steel […]

The price advantage domestic hot-rolled coil (HRC) had enjoyed over offshore hot band has evaporated as US mills drive prices higher, according to Steel Market Update’s latest foreign vs. domestic price analysis. Nucor and ArcelorMittal last week announced a target price $1,150 per ton ($57.50 per cwt) for HRC. Market contacts have told SMU that some […]

We’ve just seen the biggest week-over-week increase in hot-rolled coil prices since the frenzy following Russia’s invasion of Ukraine last year. SMU’s hot-rolled coil (HRC) price is up $140 per ton ($7 per cwt) week over week. That’s our biggest such gain since prices jumped $210 per ton in mid-March of last year at the height of […]

Aggressive mill price increases are pushing flat-rolled tags up at a sharp clip, rivaling the spike seen in response to the war in Ukraine last March. On Friday, Nucor came out with yet another notice – up an extra $150 per ton ($7.50 per cwt) and setting a new base price for hot band of […]