On Wednesday, February 22, 2017, California Steel Industries (CSI) sent a letter to their customers advising them of their intention to adjust their extras used when pricing galvanized steels in various thicknesses and coating weights. LME Zinc pricing has been on a tear over the past year as it has moved from $0.80 per pound […]
North Star Bluescope Steel reported underlying EBITDA in the first half of FY 2017 of $180.2 million, an increase of 178 percent from 1H FY 2016 . Sales revenue was US$ 598.7 million. The mill operated at 100 percent capacity in the first half and benefited from lower conversion costs, particularly in utilities. Shipments for […]
On Monday, California Steel Industries (CSI) advised their customers that their March 2017 order book is now open and that transaction (spot) pricing would be increasing by $40 per ton on hot rolled, hot rolled pickled & oiled, cold rolled and galvanized steel products produced by the mill. California Steel began increasing prices as they […]
On Friday California Steel Industries (CSI) and later in the day UPI (USS-POSCO Industries) increased base prices on flat rolled products produced by each mill. California Steel was the first mill to move, raising prices on hot rolled by $100 per ton, HRP&O by $100 per ton ($5.00/cwt) and cold rolled and coated by $120 […]
USS/POSCO, the joint venture conversion mill located in California, was the first of the domestic steel mills to raise prices as they opened their January order book. UPI (USS/POSCO Industries) informed their customers last Thursday (November 10th) of their intention to increase their base prices by $30 per ton ($1.50/cwt). At the same time UPI […]
On Friday morning US Steel got the ball rolling by announcing a $30 per ton price increase on all spot sales of flat rolled steel (hot rolled, cold rolled and coated products). Before the afternoon was out two other steel mills followed: Nucor and California Steel Industries. On Monday a number of mills were heard […]
On Friday morning US Steel became the first domestic steel producer to announce a flat rolled steel price increase. Later in the day Nucor and California Steel Industries (CSI) followed with similar announcements. SMU expects other steel mills to follow with announcements of their own as this new week gets underway. On October 21, 2016 […]
The Vietnam steel industry is between the proverbial rock and hard place. U.S. steel manufacturers claim that Vietnamese exporters are party to China’s circumvention of antidumping and countervailing duties on cold rolled steel and are calling for AD duties to match those on China products. Vietnam’s influx of Chinese steel is also a concern for […]
Steel Market Update spoke with two sources regarding the most recent complaint filed by the domestic mills against Vietnam and China for circumvention of duties (China) on cold rolled and CORE (corrosion resistant steels such as galvanized and Galvalume) products. One of the tenants behind the accusations made by the domestic steel mills is the […]
A note to those of you who are registered for our 6th Steel Summit Conference but have yet to make room reservations. The room block at the Marriott Gateway Hotel (our host hotel) is sold out. The hotel may have a few rooms left but they will most likely be at the full rack rate. […]
California Steel Industries, Inc. (CSI) announced that Marcelo Botelho will be the new president and CEO of CSI, effective August 1, following the retirement of Toshiyuki Tamai. Botelho most recently served as Controller Global Director at Vale S.A. His background also includes positions in the utility, aerospace, and aluminum industries in Brazil. Tamai will retire […]
What we like to hear for our member companies: One of the largest service centers in the U.S. told us earlier this week after registering for our Steel Summit Conference, “Our guys tell me your conference is very good, I’m looking forward to attending. Also, several mills tell me that your conference is turning into […]
Steel Market Update was speaking with a trader on the West Coast about the USS/POSCO $150 per ton ($7.50/cwt) price increase announcement made late last week. The expectation is for California Steel Industries (CSI) to open their order books early this week. The trader shared a story about the steel market that existed in 2004 […]
In a letter to their customers, West Coast flat rolled conversion mill USS/POSCO announced a $150 per ton ($7.50/cwt) price increase on hot rolled pickled & oiled, cold rolled and galvanized steel. The price announcement is effective immediately as the mill has now opened their August order book. West Coast buyers explained to Steel Market […]
California Steel Industries (CSI) opened their July flat rolled order book this week. The mill moved prices up by $80 per ton compared to the previous month. We are investigating exactly what that means to buyers. We understand that the mill is on a strict allocation to their regular customers. We expect the mill to […]
Nucor Sheet Mill Group got the flat rolled pricing ball rolling earlier today as they advised their customers by emailed letter that base prices will rise on new spot orders by a minimum of: Hot Rolled: $20 per ton ($1.00/cwt)Cold Rolled: $30 per ton ($1.50/cwt)Galvanized: $30 per ton ($1.50/cwt) Nucor did not advise of any […]
USS/Posco (UPI) and California Steel both sent out letters over the past few working days advising their customers of their intention to raise prices on spot flat rolled orders. On December 11, 2015 USS/Posco sent out a letter announcing $40 per ton. On Monday, December 14, 2015 California Steel Industries (CSI) opened their February order […]
The Department of Commerce said Wednesday that it will proceed on AD/CVD investigations of imports of corrosion-resistant steel products from China, India, Italy, Korea, and Taiwan. A petition to investigate the products was filed on June 3, 2015 by US Steel, Nucor, ArcelorMittal USA, AK Steel, Steel Dynamics, and California Steel Industries. The products covered […]
The “not if but when” question has been settled as the long awaited trade case filing on galvanized steel finally occurred on Wednesday. Six domestic steel mills submitted a petition to the Department of Commerce asking for the imposition of anti-dumping and countervailing duties on certain corrosion-resistant steel products from China, the Republic of Korea, […]
WASHINGTON, DC –The Board of Directors of the American Iron and Steel Institute (AISI) today elected three new members to its Board of Directors. Lourenco Goncalves, Chairman, President and CEO of Cliffs Natural Resources, Inc.; Roger K. Newport, Senior Vice President, Finance and CFO of AK Steel Corporation; and Conrad J. Winkler, President and CEO […]
To cap off its 30th anniversary, California Steel Industries, Inc. (CSI) announced production of the first pipe from the new electrical resistance welded (ERW) pipe mill at CSI Tubular Products (CSITP). The announcement coincided with celebration, invitation-only tour of the $100 million pipe mill at CSITP. The new mill will feature API (American Petroleum Institute, […]
On Monday, Nucor announced their intention to acquire Gallatin Steel and its approximately 1.8 million tons of hot rolling capacity. Today, AK Steel and Steel Dynamics (SDI) completed the purchase of the Severstal North America assets. The biggest pieces of the Severstal deal are the Dearborn steel mill, which went to AK Steel, and the Columbus […]
On Monday, Nucor announced their intention to acquire Gallatin Steel and its approximately 1.8 million tons of hot rolling capacity. On Tuesday, AK Steel and Steel Dynamics (SDI) completed the purchase of the Severstal North America assets. The biggest pieces of the Severstal deal are the Dearborn steel mill, which went to AK Steel, and the […]
One of the west coast steel mills, California Steel Industries (CSI), has advised their customers that, “Due to changing market conditions, effective immediately, California Steel Industries is increasing transaction prices by a minimum of the following: Hot Rolled = $25.00/tonP&O = $25.00/tonCold Rolled = $25.00/tonGalvanized = $25.00/ton” The letter was dated August 13, 2014. […]
For those of you who don’t realize it – Steel Market Update is conducting our mid-July market analysis this week. I have added a couple of questions about the sale of the Dearborn and Columbus steel mills. I will send out a reminder email first thing in the morning on Wednesday. If you receive an […]
With the 1st of July not coming until Tuesday and Friday being a holiday in the United States, I have decided to hold off our next flat rolled steel market analysis until next Monday, July 7th. That means we will produce our first survey for the month of July next week and then the second […]
The terms Buy America and Buy American are not interchangeable. CSI Executive VP, Finance & Administration Brett Guge explains the difference: “The longstanding historical standard for direct government procurement is “Buy American,” which requires only that the steel products used in government projects must have been “substantially transformed” in the U.S. “Buy America,” on the […]
The “Buy America” plan for federally subsidized projects is problematic for two major U.S. steel mills owned by foreign companies. The push to use American sourced steel products in infrastructure projects is keeping NLMK USA and California Steel Industries (CSI) out of the running for bids on projects—a problem the companies are hoping to rectify […]
The “Buy America” plan for federally subsidized projects is problematic for two major U.S. steel mills owned by foreign companies. The push to use American sourced steel products in infrastructure projects is keeping NLMK USA and California Steel Industries (CSI) out of the running for bids on projects—a problem the companies are hoping to rectify […]
The terms Buy America and Buy American are not interchangeable. CSI Executive VP, Finance & Administration Brett Guge explains the difference: “The longstanding historical standard for direct government procurement is “Buy American,” which requires only that the steel products used in government projects must have been “substantially transformed” in the U.S. “Buy America,” on the […]