United Auto Workers and the Big Three automakers opened 2019 contract talks last week with ceremonial handshakes. Negotiations, however, have the potential to become contentious as auto workers seek a bigger share of company profits. “We invested in you, now it’s your turn to invest in us,” said United Auto Workers President Gary Jones at […]
Steel Market Update, in partnership with the Steel Manufacturers Association, is now accepting nominations for the new SMU NexGen Leadership Award. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North […]
By CRU Principal Analyst Josh Spoores Sheet price movements have varied across the major markets since mid-June. There were slight gains in China and South East Asia, while prices in Europe were primarily steady m/m. However, for all other markets including North & South America, CIS, India and Japan, prices were lower by 3-9 percent […]
Ferrous scrap prices for July settled down $10 per ton in the Western Pennsylvania/Ohio/Indiana markets, stayed sideways in the southern markets, and saw a combination of the two at points west, reported Steel Market Update sources. “This is a far cry from recent expectations of down $20-30/GT and represents what I believe is the bottom […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Canada’s Stelco, Hamilton, Ontario, has begun shipping fully processed, annealed cold-rolled sheet after investing more than $30 million in a new batch annealing facility. With completion of this project, Stelco will now be able to offer these high-quality products to the automotive, appliance, service center and pre-painted steel markets. These products have historically commanded higher […]
Worthington Industries, Inc., reported net earnings of $153.5 million for its 2019 fiscal year ended May 31, down 21 percent from earnings of $194.8 million in the prior year. Earnings were hurt by inventory holding losses from declining steel prices, among other factors. Sales for the year totaled $3.76 billion, up from $3.58 billion last […]
ArcelorMittal is taking the lead on a new steel industry certification standard called ResponsibleSteel, which will set a single, global standard for the “mine to metal” steel value chain. The standard will enable steel producers to prove their production processes and products meet rigorously defined standards across a broad range of social, environmental and ethical […]
By Chris Houlden, CRU Research Manager CRU held its annual Steel Briefing in New York City on June 17. This Insight summarizes the key takeaways from papers presented by CRU North America market specialists Josh Spoores and Ryan McKinley. • Up to 20 Mt of new hot-rolling and over 8 Mt of steelmaking capacity could come […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
There were many questions raised earlier this week about the announced new steelmaking and rolling capacities and whether those projects would indeed continue through completion. The questions came during various steel meetings held by analysts, steel mills, CRU and others in New York City. I participated in three events and found the question brought up […]
Two of the biggest steel companies in the U.S. are expecting earnings to decline in the second quarter. Nucor and Steel Dynamics both cite lower shipments and inventory destocking as contributing factors. In guidance released on Monday, Nucor forecast earnings in the range of $1.20 to $1.25 per diluted share compared to $1.63 per share […]
By CRU Principal Analyst Chris Asgill Scrap supply has continued to outpace demand in most of the key scrap supply markets and CRU’s metallics price indicator (CRUmpi) has fallen a further 4.2 percent m/m to 231.2 (see chart). This is the lowest level for the indicator since June 2017. The depth of U.S. scrap price weakness surprised the […]
2019 SMU NexGen Leadership Award – Frequently Asked Questions Question: What is the purpose of the award? Answer: To recognize the contributions being made by younger people in various roles in manufacturing, fabrication, steel distribution, steel mills, trading companies – essentially any company that handles mild carbon (coil, sheet or plate) or automotive steels. Steel […]
2019 SMU NexGen Leadership Award – Frequently Asked Questions Question: What is the purpose of the award? Answer: To recognize the contributions being made by younger people in various roles in manufacturing, fabrication, steel distribution, steel mills, trading companies – essentially any company that handles mild carbon (coil, sheet or plate) or automotive steels. Steel […]
Orders for metal cutting machines and metalforming and fabricating machines saw their lowest April rate since 2016. The Association for Manufacturing Technology reports manufacturing technology orders totaled $344.6 million in April, a decline of 16.5 percent from March and 17.6 percent year-over-year. For the first four months of this year, orders were down 11.6 percent […]
Liberty Steel has announced the acquisition of Johnstown Wire Technologies, a producer of value-added carbon and alloy wire, in Johnstown, Pa. The acquisition will give Liberty the capacity to manufacture a range of high-value carbon and alloy wire products for multiple end markets including the infrastructure, automotive, utility and consumer sectors. The Johnstown operations will […]
Have you considered nominating that young up-and-comer in your organization for Steel Market Update’s NexGen Leadership Award? Deadline for nominations is Aug. 1. This is the first year for the award, which is designed to recognize truly exceptional emerging leaders, age 35 and under, for their extraordinary achievements. The honor is open to individuals employed in […]
The Georgia International Convention Center (www.gicc.com) as well as the three Gateway Hotels (Marriott, Renaissance and SpringHill Suites) are all conveniently located at the first stop of the free SkyTrain out of the Atlanta International Airport (ATL). The second stop on the SkyTrain is for car rentals. Our overflow hotel – the Atlanta Airport Marriott […]
2019 SMU Steel Summit Conference – A Sneak Peek – Day 1 Written by: John Packard, President & CEO, Steel Market Update RE: 2019 SMU Steel Summit Conference, August 26-28, 2019 – Location: Georgia International Convention Center, Atlanta, GA The Georgia International Convention Center (www.gicc.com) as well as the three Gateway Hotels (Marriott, Renaissance and […]
The Steel Market Development Institute (SMDI), a business unit of the American Iron and Steel Institute (AISI), presented awards for achievement and service to the North American steel industry at the institute’s General Meeting in Washington this week. Recipients were Dr. Grant Thomas of AK Steel, Eric Petersen, formerly of AK Steel, and Edward Pleet […]
As one perk of the award, the winner of the SMU NexGen Leadership Award will have a once in a lifetime opportunity to spend the day with one of the most interesting and accomplished CEOs in the steel industry, Mark Millett, Co-Founder, President and CEO of Steel Dynamics Inc. Mark D. Millett is President and […]
As one perk of the award, the winner of the SMU NexGen Leadership Award will have a once in a lifetime opportunity to spend the day with one of the most interesting and accomplished CEOs in the steel industry, Mark Millett, Co-Founder, President and CEO of Steel Dynamics Inc. Mark D. Millett is President and […]
The Coalition of American Metal Manufacturers and Users issued the following statement on the one-year anniversary (June 1) of full implementation of the Section 232 tariffs on steel and aluminum imports: The Coalition of American Metal Manufacturers and Users (CAMMU) is encouraged by the termination of Section 232 steel and aluminum tariffs on Mexico and […]
May turned out to be a good month for several automakers. Fiat Chrysler, Toyota and Nissan all reported year-over-year gains. Fiat Chrysler posted a 2 percent gain in May, its first monthly increase since January, while Toyota jumped 3.2 percent and Nissan 0.1 percent. Automotive News estimates that General Motors sales increased 1.2 percent in […]
Promises of steel tariff relief were short-lived for Mexico as President Trump’s latest tariff move adds new penalties and dashes hopes for quick ratification of the USMCA. Trump announced on Thursday that 5 percent tariffs will be imposed June 10 on all Mexican goods, including steel, until such time that Mexico stops the influx of […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: President Trump announced his intention to impose new tariffs on imports from Mexico on Thursday afternoon. Beginning June 10, 5 percent tariffs will be imposed on all imports of goods from Mexico. On the first of July, the […]
Steel Market Update, in partnership with the Steel Manufacturers Association, is now accepting nominations for the new SMU NexGen Leadership Award. The award is designed to recognize and celebrate the excellence of emerging leaders within the greater steel community. As an industry publication and supplier of market intelligence, and host of the premier steel conference in North […]