Tag: Construction

US housing starts ticked up through April following March’s dip, according to the latest data release from the US Census Bureau.

President Biden announced an increase in tariffs this week on Chinese EVs, semiconductors, batteries, solar cells, steel, and aluminum.

The recent decline in US hot-rolled (HR) coil and longs prices has further restricted demand for imported material. Despite the decline in US sheet prices, CR coil and HDG imports remain attractive. While demand for imports of longs products has been limited, buyers have increased imports of wire products to avoid wire rods’ higher tariffs. […]

Mexican steelmaker Talleres y Aceros (TYASA) broke ground this month on the construction of a new special bar quality (SBQ) rolling mill in the state of Veracruz.

SMU surveyed our market contacts this week about steel prices, demand, and the overall marketplace. Below are some of the buyers' responses in their own words to help you get a feel for current and future market conditions. Demand is a big topic of discussion currently. Is it steady, falling, or on the upswing with summer construction heating up? As you can see from the answers below, it depends on who you ask. One buyer’s response sums it up pretty well: “I still see the marketplace as soft/stable with some segments busy, while others tread water.”

What's the tea in the steel industry this week? Here's the latest SMU gossip column! Just kidding... kind of. Yes, some of the comments we receive in our weekly flat-rolled market steel buyers' survey are honestly too much to put into print. Some make us laugh. Some make us cringe. Some are cryptic. Most are serious. We appreciate them all. Below are some highlights from our survey results this week. Some of the comments that we can share with you are also included, in italics, in the buyers' own words, with minimal editing on our part.

The Inflation Reduction Act (IRA) appropriated more than $4 billion to the General Services Administration (GSA) and Federal Highways Administration (FHWA) for “Buy Clean” programs. The statute makes clear that GSA and FHWA purchases under these programs are limited to those with “substantially lower” emissions. There is no ambiguity in that requirement. The Environmental Protection Agency (EPA) has defined “substantially lower” to mean products with the lowest 20% of embodied emissions when compared to similar materials.

Steel Market Update’s Steel Demand Index fell eight points, and back into contraction territory, an indication demand might be slipping as prices have trended lower, according to our latest survey data.

Japanese steelmaker JFE Holdings will invest abroad as part of a drive to lift income, says group president Yoshihisa Kitano.

Steel prices trickled lower across the month of April for both sheet and plate products.

Stelco reported a positive start to 2024 in its first-quarter earnings report on Thursday. And with steady demand and a stable market, the Canadian flat-rolled steelmaker is optimistic for the remainder of the year.

Thyssenkrupp Materials Services is continuing its expansion in North America. It announced the opening of a new steel service center in Sinton, Texas, to primarily serve the automotive, HVAC, and construction markets.

A surge in data center project planning pushed the Dodge Momentum Index (DMI), a leading indicator for the nonresidential construction sector, higher in April.

Construction spending in the US in March was basically steady from the previous month but showed notable year-on-year (y/y) growth.

Hybar has big plans for entering the American steel market. Although it is the newest player in the US rebar market, the startup is led by an experienced, nimble, and ambitious team, and backed by investors with deep pockets. Industry titan and Hybar CEO David Stickler joined SMU Managing Editor Michael Cowden on Wednesday’s Community Chat to update the SMU community on the company’s first mill, and its grand plans for the future.

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market chatter.

An important economic indicator for the nonresidential construction industry declined in March to its lowest point in more than three years.

What a difference a month makes. In late March, it seemed like the US hot-rolled (HR) coil market was poised to cycle upward. Large buyers had re-entered the market and placed big orders earlier in the month. Several outages were underway or upcoming. And expectations were that lead times would continue to extend. Cliffs said […]

Reliance Inc.’s earnings slumped in the first quarter of 2024, but the company expects better than normal seasonal recovery in demand in the second quarter.

Steel Dynamics Inc. (SDI) executives said the company's Sinton, Texas, sheet mill should be able to increase melt capacity after an outage earlier this month. Sinton should see "additional improvements in production" after taking "several maintenance days in April," Barry Schneider, SDI president and COO, said in a Q1 earnings conference call on Wednesday.

Hybar CEO David Stickler will be the featured speaker on the next SMU Community Chat webinar on Wednesday, May 1, at 11 a.m. ET. The live webinar is free. A recording will be available to SMU members. You can register here.

Steel Dynamics Inc.'s (SDI's) earnings fell in the first quarter of 2024 as the company cited steel order volatility early in the quarter and lower scrap prices.

Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]

AZZ Inc. said it is seeing improving demand for its coil coating services as it reported a solid quarterly performance.

Steel is a foundation of the global economy. It is an essential raw material for nearly every industry, from automotive and construction to transportation, machinery, and energy.

While general economic conditions across the US improved slightly over the last six weeks, activity in the manufacturing sector was weak, according to the Fed’s latest Beige Book report.

A lot of economists were predicting a recession last year. Ken Simonson, chief economist for The Associated General Contractors of America (AGC), wasn’t one of them.

The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

The steel market appears to be finding a new, higher normal with the shocks of the pandemic and the Ukraine in the rearview mirror. The good news: a more profitable and consolidated post-Covid US steel industry has been able to invest in operations. That includes efforts to decarbonize. The bad news: That “new normal” could be tested. Because it’s not just domestic sheet prices that have been volatile. Geopolitics are too.

Following a strong February, US housing starts eased through March to a seven-month low, according to the most recent data from the US Census Bureau.