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 […]
There has been a debate which goes back to the 1930’s regarding what “Buy American” means when it comes to steel products. The issue is whether those mills who do not make steel, such as NLMK USA (in their Pennsylvania plant) and California Steel Industries as well as the former ThyssenKrupp plant in Calvert, Alabama […]
More flat rolled steel mills have joined in and raised flat rolled steel prices over the past couple of days. On Friday, April 4th USS/POSCO sent a letter to their customers advising them that flat rolled steel base prices would rise by $30 per ton ($1.50/cwt) on all products. UPI opened their June order book […]
In our Thursday evening issue, we published an article regarding recent price increase announcements out of Nucor, California Steel Industries (CSI), and AK Steel. We incorrectly stated the increase out of CSI as $40.00/cwt for all products, when it was really a $40 per ton increase. We apologize for the error. The image below is […]
Yesterday (Wednesday the 19th) Nucor announced a price increase on their new orders and listed base prices of $33.00/cwt on hot rolled, $39.50/cwt on cold rolled, and $39.50/cwt on galvanized. These are the same levels that ArcelorMittal, NLMK USA, and Severstal announced earlier in the week. California Steel Industries (CSI) also announced an increase on […]
ThyssenKrupp AG finances are beginning to improve. Earnings before interest and tax (EBIT) more than doubled to €247 million ($338 million) in the first quarter FY 2013-2014 (ending Dec. 31, 2013). Net debt dropped to €4.6 billion ($6.3 billion) from €5 billion ($6.8 billion) the previous quarter. ThyssenKrupp’s gearing ratio (net debt to equity) was […]
SMU Price Momentum Indicator ended the month of December where it began, indicating higher flat rolled steel prices over the next 30 days. The domestic steel mills did not disappoint as they raised base price levels to $35.00/cwt on hot rolled and $40.50/cwt on cold rolled and coated (plus extras, FOB mill) for the mills […]
California Steel Industries (CSI) opened their February order book and became the first domestic mill to announce a new round of flat rolled price increases. In a letter to their customers dated December 13, 2013 the mill advised, “Due to changing market conditions, California Steel Industries is increasing transaction prices by a minimum of the […]
California Steel Industries (CSI) and U.S. Steel Posco (UPI) became the first domestic mills to raise flat rolled steel prices as they opened their order books for the month of January 2014. CSI was the first to release their letter informing their customers that “due to changing market conditions” the mill was increasing their transaction […]
AK Steel announced the election Mark G. Essig and Vicente Wright to its Board of Directors effective Nov. 1, 2013. Mark Essig is currently CEO of FKI Security group and has held several senior executive positions in the steel industry including executive vice president at AK Steel from 1991 to 1998. Vicente Wright served as […]