On Monday, Dec. 7, both NLMK and California Steel Industries notified customers of an upward revision to their galvanized steel coating extras. A letter from CSI stated, “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective January 2021.” NLMK and CSI are the first mills to revise […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor U.S. Steel announced the full buyout of Big River Steel this week, while Cleveland-Cliffs closed on its acquisition of ArcelorMittal’s U.S. assets. In any other week, these headlines would drive the news flow for steel buyers and sellers. However, news this week remains […]
California Steel Industries notified customers on Monday that its February order book is now open and it is increasing transaction prices on its flat rolled products. CSI increased pricing on spot orders of hot rolled and P&O by $50 per ton, and on orders for cold rolled and galvanized by $70 per ton, effective immediately. […]
California Steel Industries has opened its January order book with a considerable bump in prices. CSI notified customers on Monday that it has increased transaction prices on its flat rolled products by $90-100 per ton. Effective immediately, unconfirmed orders for hot rolled, P&O and galvanized increase by $90 per ton, while cold rolled prices increase […]
By Principal Consultant Josh Spoores, from CRU’s Steel Sheet Products Monitor North American sheet prices have continued to surge after bottoming this past August. For HR coil, prices have been assessed at $712 /s.ton. Since Aug. 12, these prices have gained $237 /s.ton, or 63%. This is the fastest percent gain over three months in […]
Steel Market Update has had conversations/communications with Robert Miller, CEO and James Banker, Jr., Executive Vice President of NLMK USA as we endeavor to learn more about the status of the strike against the Farrell, Pennsylvania facility, status of slabs for the Farrell mill, and gain a better understanding of the general flat rolled steel […]
California Steel Industries notified customers on Monday, Sept. 21, that it has raised prices on its flat rolled products by $60-70 per ton ($3.00-3.50/cwt) due to changing market conditions. Effective immediately on all unconfirmed orders, prices for hot rolled, P&O and galvanized have increased by a minimum of $60 per ton, while cold rolled is […]
Last Thursday, USS-POSCO notified customers of a revision to its galvanized steel coating extras. UPI advised customers the new extras will apply on all new orders effective immediately. UPI is the fifth mill to revise its galvanized coating extras recently, following Steel Dynamics, California Steel Industries, Nucor and U.S. Steel. SMU has done an analysis […]
On Wednesday, U.S. Steel notified customers of a revision to its galvanized and galvannealed steel coating extras. USS advised customers, “The cost to procure zinc for our Hot Dipped Galvanized products has increased significantly in recent weeks, with the average LME zinc price now above the current coating weight tables that we put in place […]
Last Friday, Nucor notified customers of a revision to its galvanized coating extras. Nucor advised customers, “Consistent with our practice to monitor the cost of zinc, we have revised our galvanized coating weight extras effective with new orders acknowledged for the week ending Oct. 10, 2020.” Nucor is the third mill to revise its galvanized […]
Following on a similar move by the plate mills earlier in the week, flat rolled mills announced price changes Wednesday and Thursday ranging from $40 to $60 per ton. Nucor’s Sheet Mill Group notified customers today, Aug. 27, that it has increased base prices on new orders of hot rolled, cold rolled and galvanized steel […]
California Steel Industries notified customers on Wednesday that it will be raising the extra charge for galvanized coatings due to an increase in the market price of zinc. CSI advised customers: “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective beginning with orders placed for October shipment […]
California Steel Industries has appointed Shinji Tanaka as President and Chief Executive Officer. He will replace Marcelo Botelho Rodrigues who completed his four-year term on Aug. 1, 2020. Tanaka joined CSI in January 2020 as the Executive Vice President of Engineering and Continuous Improvement following a 21-year career at JFE Steel in Japan. At JFE […]
We have passed through 700 registered attendees for this year’s SMU Virtual Steel Summit Conference. Activity has been high and we are confident we will reach our 800+ registered attendee goal. We will be the largest steel conference (live or virtual) in North America this calendar year. Those who have seen our platform are excited. […]
We have passed through 700 registered attendees for this year’s SMU Virtual Steel Summit Conference. Activity has been high and we are confident we will reach our 800+ registered attendee goal. We will be the largest steel conference (live or virtual) in North America this calendar year. Those who have seen our platform are excited. […]
The COVID-19 pandemic is not stopping CEO Lourenco Goncalves. “We are back on track and ready to fulfill our vision for the new Cleveland-Cliffs, which includes our mines and pellet plants, AK Steel, AK Tube, Precision Partners and our new HBI plant.” Having set his sights on the auto industry and already dedicating more than […]
The COVID-19 pandemic is not stopping CEO Lourenco Goncalves. “We are back on track and ready to fulfill our vision for the new Cleveland-Cliffs, which includes our mines and pellet plants, AK Steel, AK Tube, Precision Partners and our new HBI plant.” Having set his sights on the auto industry and already dedicating more than […]
Is that the sun rising, or a speeding train…? 17 Days to Go for Start of 2020 SMU Virtual Steel Summit Conference. The number of executives from manufacturing, distribution, steel mills, trading companies, toll processors, banks, trucking companies, scrap companies, paint companies and suppliers to the industry is now in the mid-600’s heading toward 700 […]
On August 24 through the 26th Steel Market Update will host our 10th SMU Steel Summit Conference. Unlike past years the conference will not be held in Atlanta but rather on our virtual platform. We have close to 650 registered executives from over 200 companies. We anticipate many more registrations in the days to come […]
California Steel Industries notified customers on Monday that it will be lowering the extra charge for galvanized coatings due to declines in the market price of zinc. CSI advised customers: “Due to changing zinc costs, our Galvanized Coating Extras have been revised. These changes will be effective beginning with orders placed for August shipment and […]
Sheet prices in the U.S. Midwest market fell by $5-9 /s.ton, w/w with HR coil losing the most, assessed at $560 /s.ton. These prices reflect transactions from last week, which were primarily conducted ahead of recently announced mill price increases. While prices fell, the overall volume component fell at a faster rate. Until the price […]
Lourenco Goncalves is well known for speaking his mind. As an unconventional thinker and investor, he has put himself, and his company, at the center of the changes that are transforming the steel industry—and not for the first time in his career. The Chairman, President and CEO of Cleveland-Cliffs, Inc., will be a keynote speaker […]
Steel Market Update’s 31st Steel 101: Introduction to Steel Making & Market Fundamentals Workshop, set for Merrillville, Ind., on March 31 and April 1, is now taking registrations. We will be working out of the Hilton Garden Inn in Merrillville, a short drive away from the NLMK Portage steel mill, which we will tour on […]
As widely expected, Nucor was the first to announce another $40 increase in flat rolled steel prices Wednesday, followed closely by ArcelorMittal USA, NLMK USA, California Steel Industries, USS-POSCO Industries and Algoma Steel. This represents the fifth round of price hikes by the major mills since late October totaling around $190 per ton. In a […]
I want to take a moment to thank John Walburg and the entire California Steel Industries team for their support of our Steel 101 workshop, which we just completed. The Fontana, Calif., steel mill tour was the highlight for many of our Steel 101 workshop attendees, and I want to personally thank CSI for allowing […]
John Packard is traveling…. As always, the holiday break put the brakes on buying, making it a challenge to gauge steel prices in the first week of 2020. But it appears the upward price momentum has continued into the New Year. Steel Market Update’s survey of the market over the past two days shows flat […]
Happy Holidays! I expect this week to be a tad on the slow side as buyers and sellers of steel celebrate Hanukkah and Christmas. One year ago, benchmark hot rolled prices were averaging $745 per ton ($37.25/cwt), down from the cycle peak achieved the week of July 23, 2018, at $915 per ton ($45.75/cwt). Since […]
By CRU Prices Analyst George Pearson, from the CRU Steel Sheet Products Monitor Sheet prices in the U.S. were mixed this week. HR coil at $555 was steady w/w, falling by $2 /s.ton, while CR and HDG coil products gained $26-30 /s.ton w/w after steadying last week. For HR coil, overall volume has picked back […]
Affirming that steel imports from Vietnam have been circumventing U.S. antidumping and countervailing duties, the Department of Commerce on Monday upheld its preliminary AD/CVD rates on imports of galvanized and cold rolled sheet from Vietnam manufactured with hot- or cold-rolled substrate from Korea and Taiwan. Steel products produced in Korea and Taiwan, shipped to Vietnam […]
New rounds of flat rolled price increases began on Friday with ArcelorMittal USA and NLMK USA taking the lead at $40 per ton. My expectation is the other mills will follow on Monday and Tuesday of this week. Watch lead times – with some of the mills they are beginning to stretch. Steel Dynamics has […]