Tag: EAF

Over the last several years, I have noticed widening spreads between #1 Heavy Melting Steel (ISRI 201) and Shredded (ISRI 210,211), as well as Plate & Structural (ISRI 232).

Evraz North America said there was no impact on production from a fire that broke out at its Pueblo., Colo., steel mill on Friday.

They say all’s fair in love and war. But that doesn’t seem to be the case in steel. Being deemed “unfair” could get you slapped with shiny new Section 232 tariffs these days. Then again, “unfair” implies a judge. And people on opposing sides seldom agree with the judgment. Such seems to be the current case between the US and Mexico.

AHMSA’s new investors, Argentem Creek Partners, have plans for a potential staggered restart of operations at the Mexican steelmaker.

Directors of Swedish steelmaker SSAB have decided to replace blast furnace-based steelmaking at Lulea with a ‘green steel’ mini-mill process.

Steel Dynamics Inc. (SDI) has announced new roles for current executives James Anderson and Chad Bickford. SDI said James Anderson will take over responsibility and oversight for the company's long products group, effective May 1.

SMU latest' steel market survey paints the picture of sheet market that has hit bottom and begun to rebound. Lead times are extending again after stabilizing earlier this month. Mills are far less willing to negotiate lower sheet prices - even if there are still deals to be had on plate, according to the steel buyers we canvassed.

I can’t really define “Bidenomics” because it is so filled with contradictions. It seems to aim to increase manufacturing output in the United States. But not all increases are created equal.

Cleveland-Cliffs Inc. has plans to replace the blast furnace at its Middletown Works in Ohio with a direct-reduced iron (DRI) plant and two electric melting furnaces (EMFs).

Algoma Steel said in guidance on Monday that an unplanned outage at its blast furnace in January will “significantly” impact its fiscal fourth-quarter results.

With Earth Day almost a month away, the world’s attention often turns to the manufacturing sector with calls for greener production processes.

U.S. Steel expects higher earnings in the first quarter of this year vs. the previous quarter.

Prices of most steelmaking raw materials have moved lower over the last 30 days, according to Steel Market Update’s latest analysis.

Reaction to the price announcements last week by domestic mills varied just a little depending on who you were speaking to. I heard rumblings before the announcements that a price hike of $100 per short ton (st) was coming. After the announcements were made, I had some questions as to whether they were increases at all.

A Detroit-area mill entered the scrap market on Thursday offering down $70 per gross ton (gt) on #1 busheling. And Nucor announced a minimum base price of $825 per short ton (st) for hot-rolled (HR) coil. What's the best way to interpret would could be read as contradictory trends?

Hot rolled (HR) futures have been on a bit of a hot streak recently, while busheling futures have been more in the “not” category.

What are folks in the steel industry talking about at present? Respondents to SMU’s mini-survey this week shared some of their thoughts with us about what's going on in the market. Rather than summarizing their responses, here’s some of what they had to say in their own words.

Flat-rolled steel prices have been running downhill in a hurry since the beginning of the year. In some ways, it's no surprise because other indicators have also been pointing lower for some time. Lead times have been contracting since the beginning of the year and are now below the five-week mark for hot-rolled (HR) coil for the first time since September. Mills are more willing to negotiate lower prices, and early reports seem to indicate that scrap might settle lower again in March.

Sheet and plate prices this week continued the downward trend they’ve been on for most of 2024. Some market sources predicted that a wave of spring maintenance outages would help to stabilize lead times and prices in the weeks ahead – especially should service center inventories, high at the beginning of the year, come down meaningfully.

A clear consensus has emerged among respondents to SMU’s latest steel market survey that hot-rolled (HR) coil prices will bottom this month or in April. Seventy-five percent of respondents to our latest survey think that prices will find a floor before May as the chart below shows:

When it comes to finding ways to reduce emissions in steel manufacturing, we are in the all-of-the-above camp.

What are some “Black Swans” to watch out for? With the war in Ukraine entering its third year, your mind might understandably move to conflicts overseas. Here is one closer to home to consider: US trade relations with Mexico taking a turn for the worse. I mention that because the Office of the United States Trade Representative (USTR) dropped a (virtual) bombshell earlier this month.

Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.

Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.

While seaborne trade has been challenging due to weak global steel production, demand for ferrous scrap in the US remains strong, according to Sims Ltd.

The CRUmpi declined by 1.7% month over month (m/m) to 325.2 in February, compared to a 4.3% m/m increase in February 2023.

What's the steel market talking about at present?

Algoma Steel has restarted its blast furnace and resumed steelmaking at its mill in Sault Ste. Marie, Ontario.

Weak demand and pricing for graphite electrodes combined with higher costs are forcing GrafTech to implement cost-cutting procedures and reduce production across its facilities.

Sheet prices have fallen again this week on shorter lead times, higher imports, and potentially higher inventories. (We’ll see for sure when we release our service center shipment and inventory data next week.) I remember reporting almost exactly the same thing about a month ago and getting a fair amount of pushback. Not so much these days.