Cleveland-based Majestic Steel USA, Inc., has acquired Titan Metal Service, Inc., a Tampa, Fla., service center and processor. The acquisition expands Majestic’s business in the coated flat-rolled market and extends its reach in the Southeast, particularly the growing Florida market, the company said. “We are happy to welcome Titan Metal Service to the Majestic Steel USA […]
I took our coated numbers down pretty hard this week. I had been collecting lower numbers over the past few weeks. However, they would pop up sporadically. Come and go for no reason other than a mill decided that the order was too good to pass up, that it fit a hole or that at […]
It has been a beautiful weekend in Austin, Texas, where I spoke earlier today (Sunday) at the annual HARDI conference. I spoke at the steel council, which consists of HVAC wholesalers who sell galvanized sheet/coil products, manufacturers supplying the wholesalers and a couple of service centers who sell galvanized sheet and coil to the wholesalers. […]
For almost eight years, Steel Market Update has been working in conjunction with the U.S. and Canadian steel mills on a basic steel training workshop for those involved in the flat rolled, plate and long product steel industries. We have trained in excess of 600 individuals ranging from people on their first day on the […]
Both Steel Market Update and the CRU Group forecast lower steel prices next year. With a new North America free trade agreement soon to be signed, the U.S. is likely to lift or modify the Section 232 tariffs on Canada and Mexico, opening the borders to more imports and adding to the downward pressure on […]
For almost eight years, Steel Market Update has been working in conjunction with the U.S. and Canadian steel mills on a basic steel training workshop for those involved in the flat rolled, plate and long product steel industries. We have trained in excess of 600 individuals ranging from people on their first day on the […]
We did not collect as many low price data points on hot rolled this week as we did last. We did see erosion at the upper end of the range as most offers appear to be trending below $800 per ton. Steel buyers continue to worry about the basic laws of supply and demand. There […]
Steel Dynamics made big news on Monday, announcing it will construct a new $1.8 billion electric arc furnace flat roll steel mill in the United States. The mill will have an annual production capacity of approximately 3 million tons and the capability to produce the latest in advanced high-strength steels. The facility will include value-added […]
Few of the steel buyers canvassed by Steel Market Update this week expect flat roll prices to rise significantly in the first quarter. Most anticipate prices stabilizing or continuing to trend downward, especially if the Trump administration lifts the Section 232 tariffs on imports from Canada and Mexico. The promise of increased supplies from the […]
Lead times for most flat rolled steel products are at or near their shortest of the year. Lead times for steel delivery are a measure of demand at the mill level—the shorter the lead time, the less busy the mill. The less busy the mill, the more likely they are to negotiate on price. Responses […]
Steel mills remain open to price negotiations on hot rolled, cold rolled and coated products, but not plate, report buyers canvassed by Steel Market Update this past week. Steel Market Update tracks how buyers and sellers of flat rolled and plate steel characterize price negotiations with the mills. The steelmakers’ greater willingness to compromise on […]
Last week, Steel Market Update conducted our mid-November analysis of the flat rolled and plate steel market trends. During the process, we reviewed demand, lead times, negotiations, service center spot pricing, steel pricing and a myriad of other important issues of interest to buyers and sellers of hot rolled, cold rolled, galvanized, Galvalume and plate […]
Flat rolled steel prices dropped again this week. One of our domestic steel mill sources told us this afternoon, “Everything is down about a buck from last week.” This source went on to say that the U.S. steel mills are producing more and exporting less. The net result being there is more supply available. Here […]
Steel buyers can be fickle people. They are tasked with keeping their company in product, and that those purchases be competitively priced at the time they are used. This is a daunting task when markets ebb and flow, and even more difficult when the government decides to become a major player in determining who will […]
The U.S. Department of Commerce has released import license data for the months of October and November through the 13th of the month. October foreign steel imports are expected to reach 3 million net tons on the back of almost 900,000 net tons of semi-finished steels (mostly slabs going to the domestic steel mills). It […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories through September. Table 1 shows total supply to the market in three months through September and in 12 months through September for the four product groups and the 16 subcategories. Supply to the market is the total of domestic […]
Flat rolled steel prices dropped this week based on our analysis of the market. Benchmark hot rolled coil dropped $5 per ton and is now averaging $800 per ton ($40.00/cwt). We saw even larger negative price movements in cold rolled, galvanized and Galvalume steels. Plate prices, however, were flat and the expectation of plate steel […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
This evening’s price and price momentum discussion comes after a number of conversations held with flat rolled steel service center CEO’s and a trading company executive on Thursday and Friday of last week. The words “mud” and “murky” were prominent as the steel distributors try to figure out where things are headed as we enter […]
Most buyers tell Steel Market Update that flat rolled mills are open to price negotiations on hot rolled, cold rolled and coated steel products. The notable exception is plate. Two out of three respondents to SMU’s latest market trends questionnaire report that plate mills will not compromise on price, while one-third have found some wiggle […]
Lead times for Galvalume and plate products shortened up a bit in the past two weeks, but otherwise lead times for flat rolled products have seen little change in October or November, despite the price hike announcements by the major mills. Lead times for steel delivery are a measure of demand at the mill level—the […]
Flat rolled steel prices continue to vacillate as we saw the low end of our range on benchmark hot rolled coil improve by $20 per ton. We are aware of a couple end-of-the-year deals that are below our range, but we feel at this point they are limited and not available to the greater market. […]
U.S. steel imports for October are likely to fall just below 3 million tons when the Census data is final, based on license data from the Department of Commerce. The total is roughly in line with the 12-month moving average for imports, but up more than 30 percent from September. Imports of semi-finished steel, mostly […]
Except for plate, which held its own at around $1,000 a ton, steel prices generally weakened further in October, continuing a decline that began this summer. Steel Market Update data in the table below shows that the benchmark hot rolled coil price dipped below $800 per ton after sliding by about $45 during the month. […]
Flat rolled steel prices have stalled, despite the increase announcements out of many of the domestic steel mills. Plate steel spot prices, on the other hand, continue to remain firm in December with an expectation of a $40 price increase being collected in January. Steel Market Update canvassed the flat rolled and plate steel buyers […]
Flat rolled steel prices have stalled, despite the increase announcements out of many of the domestic steel mills. Plate steel spot prices, on the other hand, continue to remain firm in December with an expectation of a $40 price increase being collected in January. Steel Market Update canvassed the flat rolled and plate steel buyers […]
As expected in a market where foreign suppliers must pay a 25 percent tariff (50 percent for those in Turkey), steel imports into the United States are down 11 percent for the year to date. Unexpected were the increases in imports of hot rolled sheet and plate. Steel Market Update’s analysis of Commerce Department data […]
The U.S. Department of Commerce released updated foreign steel import data for September and October yesterday, with the September figure down to 2.2 million tons and the October trend remaining over 3 million tons. Prior to this week, the September total was hovering around 2.7 million to 2.9 million net tons. Our October trend is […]
Registration is now open for the first Steel 101 workshop of the New Year (2019). The first Steel 101: Introduction to Steel Making & Market Fundamentals workshop in the New Year will be held in Starkville, Miss., on Jan. 29-30, 2019. This workshop will be special as we will be touring the SDI Columbus EAF […]
Flat rolled steel buyers are advising Steel Market Update that lead times have extended about one week since the recent price announcements. The mills continue to ask about their competition and to negotiate, which is not a sure-fire sign of strength or conviction in the new increases. Plate is a different animal and continues to […]