Final thoughts
To the surprise of few if any, prices are in a holding pattern – a trend not seen since late December. The pause comes largely in response to a pricing notice blitz from mills late last week.
To the surprise of few if any, prices are in a holding pattern – a trend not seen since late December. The pause comes largely in response to a pricing notice blitz from mills late last week.
Prices of most steelmaking raw materials have moved lower over the last 30 days, according to Steel Market Update’s latest analysis.
Join SMU’s next Community Chat webinar with Barry Zekelman, executive chairman and CEO of Zekelman Industries – the largest independent steel pipe and tube manufacturer in North America. The webinar will be on Wednesday, March 20, at 11 a.m. ET. It’s free for all to attend. A recording will be available to SMU members. You can register here.
Sheet and plate prices were mostly flat this week – largely in response to the mill price blitz from last week – pausing the downtrend they’d been on for the better part of 2024.
What does it mean to be a domestic steelmaker in the 21st century? Of course, that idea is open to interpretation. The vibrancy of the US industry is a testament to that. Between integrateds, EAFs, how to approach decarbonization, downstream ventures, American innovation goes in many directions.
Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.
India’s JSW Steel has selected steel industry veteran Robert Simon as CEO of JSW Steel USA.
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.
The United Auto Workers (UAW) executive board has voted to start a new “solidarity project” to support auto workers in Mexico.
Kimberly A. Fields, current president of specialty metals producer ATI, has been named president and CEO of the Dallas-based company, effective July 1. Fields has served as COO of ATI since 2022 and president since July 2023. Prior to joining the company in 2019, she worked for IDEX Corp., Evraz, and GE. Fields will succeed […]
SunCoke Energy Inc. announced the retirement of its current CEO and the appointment of a new leader on Friday.
Canada will soon require steel imports to report “country of melt and pour” information.
Canadian steelmaker Stelco swung to a loss in the fourth quarter as revenue declined due to decreased shipping volume and average selling prices.
What a difference a month makes. There are a few full bulls left in the room, but their numbers are dwindling. We’ll release results of our full steel market survey tomorrow afternoon. I took a sneak peak at the data on Thursday. And more people than I expected think that US hot-rolled (HR) coil prices will be in the $700s per short ton (st) two months from now. Vanishingly few think prices will be above $1,000/st in mid-April.
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.
ArcelorMittal swung to a loss in the fourth quarter largely because of costs associated with a deadly coal mining disaster last year in Kazakhstan. The Luxembourg-based steelmaker sold its Kazakhstan operations in December and no longer owns and operates coal mines as a result of the move, according to comments released along with earnings data on Thursday.
SBQ producer Alton Steel Inc. (ASI) has appointed a new chief executive.
I thought Nippon Steel’s $14.1-billion deal for U.S. Steel might become a political football in this year’s presidential election. Now there is little doubt that it will after Trump told reporters in Washington, D.C., earlier this week that he would “absolutely” block the transaction – and that he would do so “instantaneously.”
The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR.
Steel Dynamics Inc.’s (SDI’s) top executive sees hot band demand remaining strong in 2024, which should support pricing.
The capacity for EAF steelmaking is growing both in the US and abroad. Ferrous scrap supply has never been more important. A lot of people have viewed the scrap industry as old-fashioned and resistant to change. However, the same forces affecting the steel and other industries are also at play in recycling.
America is increasing a society run by regulations. Businesses and individuals deal with a host of agencies that control transportation, the environment, labor regulation, securities, competition and, of course, international trade; the list goes on and on. We are also a litigious society, dependent on neutral tribunals to resolve disputes. Who decides who is right […]
US service center flat-rolled steel inventories surged in December with the seasonal slowdown in shipments. At the end of December, service centers carried 64.8 shipping days of supply, according to adjusted SMU data, up from 54 days in November.
The Global Steel Climate Council (GSCC) was formed to advance the steel industry's climate strategy. And its intentions are clear: establish standards and advocate for carbon emission reductions by industry members.
I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity.
Flat rolled distributor Mill Steel Co. announced the appointment of a new CFO on Jan. 9.
The new year represents an opportunity to capitalize on America’s leadership position in free market principles, steel industry modernization, and global efforts to create a lower carbon future for the steel industry. Steel Manufacturing Association (SMA) members are poised to lead the way.
After a brief decline in the price of scrap for the Turkish market, which peaked in December at approximately $424 per metric ton (mt) for HMS 80/20, the market has bottomed at $405/mt on cargoes from Europe.
New Reibus CEO Temy Mancusi-Ungaro and company President Chris Shipp will join SMU for the inaugural Community Chat of 2024 on Wednesday, Jan. 10, at 11 am ET. You can register here.
Cleveland-Cliffs has appointed private-equity executive Ron Bloom to its board of directors, effective immediately.