We are beginning to see a new push away from a fragmented steel mill supply base as closures of capacity coupled with the recent acquisition of ThyssenKrupp Steel USA by ArcelorMittal/Nippon Steel Sumitomo Metals Corporation (AM/NS Calvert) are reducing the number of players and the tons in the game. Over the past two years we […]
Reasons: The first reason being the limited number of buyers who admitted they had actually placed any tonnage since the flat rolled price increases were announced. Second, was the vast difference between northern fully integrated mills, mini-mills and conversion mill spot pricing. We need to remember all three groups are part of our index and […]
The U.S. Department of Commerce reported Preliminary Census Data for February 2014 steel imports into the United States. Total steel imports (all products) were reported to be 3,250,176 net tons which is an increase of 30 percent year over year and well above both the 12 month and 3 month moving average. As you can […]
I have been asked about the rumor mill surrounding coated products and especially the Asian 4 exporting countries. The Asian 4 are: China, India, Taiwan and South Korea. Steel Market Update is aware that at least one mill has been pushing for dumping suits on coated products. We understand that not all mills favor the […]
As our regular readers know, Steel Market Update projects imports of foreign flat rolled sheet, plate and oil country tubular goods (OCTG) as well as semi-finished (mostly slabs) steels for the month in progress. The projection is based on U.S. Department of Commerce license data which can be misleading and our projection should also be […]
Steel Market Update began our latest analysis of the flat rolled steel market on Monday of this week. We found mill lead times remained very similar to those reported at the beginning of March. The ArcelorMittal flat rolled steel price announcement was not made until late Monday afternoon and by then 50 percent of the […]
As mentioned in the Lead Times article, SMU began the process of analyzing the flat rolled steel market early on Monday morning – prior to any flat rolled price increase announcements being made. More than likely the survey results regarding mill negotiations represented by the graphic below are going to have about half the respondents […]
Late on Monday afternoon, ArcelorMittal moved to raise spot flat rolled steel pricing. In an email to their customers, AM reported that, “Inventories on sheet products appear to be in balance of slightly lean compared to our second quarter consumption forecast. As a result, we are quite surprised by the recent erosion in pricing that […]
In an email sent late in the afternoon on Monday, March 17th, ArcelorMittal USA announced a price increase on all of their new flat rolled orders, with specific base prices at $33.00 for hot rolled, $39.50 for cold rolled, and $39.50 for galvanized. The mill justified their increase by stating “Despite the recent drop in […]
There are always reasons behind the domestic steel mills’ attempt to push flat rolled steel prices. One of the reasons, and the one we believe is being exercised by those mills who have already made price announcements, is prices have moved too low too fast. Based on Steel Market Update data, benchmark hot rolled coil […]
The indexes are beginning to spread out, especially on benchmark hot rolled coil pricing. Steel Market Update saw HRC prices down $15 per ton this past week, SteelBenchmarker was $16 per ton lower (but they only produce prices twice per month), CRU down $5 and Platts held the line even with the previous week. The […]
The partnership between ArcelorMittal and Nippon Steel & Sumitomo Metal Corp (NSSMC) has created a new sales entity for a portion of the flat rolled produced at what was once ThyssenKrupp Steel USA in Calvert, Alabama. The new 50/50 joint venture mill, renamed AM/NS Calvert, will have two sales groups much like I/N Tek which […]
Takashi Imura, General Manager US Flat Rolled Division for Metal One, announced that with the purchase of the ThyssenKrupp Steel USA steel mill in Calvert, Alabama by Nippon Steel & Sumitomo Corporation and ArcelorMittal the new company: AM/NS Calvert has nominated Metal One to sell their flat rolled steel products. Metal One has been involved […]
Steel Market Update has been aware for awhile that at least one, and probably more than one, domestic steel mill has been trying to convince the rest of the industry to support dumping suits on coated products. This would most likely include galvanized and Galvalume steels. The countries being mentioned include China, India, Taiwan and […]
The rumor mill has been buzzing for a number of months about the potential for flat rolled steel dumping suits on galvanized and Galvalume steels. The focus of attention seems to be on China, India, Taiwan and South Korea as being the major offenders. However, Steel Market Update, which has a long background in coated […]
January prepainted flat rolled steel imports increased over both the previous month and the same month one year prior. The four prepainted products tracked by Steel Market Update rose a combined 18,188 net tons (NT) or 86.6 percent over the previous month and were up 16,236 NT or 70.7 percent over January 2013 tonnage. In […]
Our Premium Level members have access to a special report we create from various data points and end up with import data by product, by port of arrival (USA) and by country of origin. Prior to this month we were keeping tabs on hot rolled imports, cold rolled imports, galvanized imports and Galvalume (other metallic) […]
One of our readers sent me an article produced by another steel-related publication about the state of Kentucky offering financial incentives to AK Steel. The Kentucky Industrial Revitalization Act is being extended with one of the hopes that AK Steel will use the incentives to help reline the Ashland blast furnace. The question asked by […]
Flat rolled steel prices moved lower over the past week. The biggest move was in hot rolled which dropped by $15 per ton pushing our average on benchmark hot rolled coil pricing to $620 per ton ($31.00/cwt). Here is how we are seeing prices this week: Hot Rolled Coil: SMU Range is $600-$640 per ton […]
Zinc and aluminum prices are something to keep an eye on when you’re involved with coated products such as galvanized or Galvalume steels. At current zinc price levels, the amount of zinc needed to coat 0.060″ thick G90 coil costs approximately $1.98 per cwt (based on zinc calculation shared with SMU from a domestic coating […]
Total steel imports in January were 3,205,246 net tons (NT), the highest levels Steel Market Update has recorded since we began keeping track of monthly import data in mid-2009. January tonnage is a 27.9 percent increase over December figures and well above both the three month moving average (3MMA) and twelve month moving average (12MMA). […]
Domestic mill lead times continue to be better than they were at this time last year. Hot rolled lead times averaged 3.94 weeks, according to our survey respondents. This is better than the 3.28 week average of one year ago. Cold rolled lead times were reported to be at an average of 6.08 weeks (4.65 […]
There are situations at two mills which are causing sleepless nights for some flat rolled steel buyers. AK Steel, through the loss of their Ashland blast furnace, is helping tighten the Midwest market and keeping steel prices from plunging perhaps further than they may have otherwise. As one of our steel sources put it to […]
Steel prices were flat to slightly lower this week based on direct contact with buyers and our ongoing flat rolled steel market survey results. Here is how we are seeing prices this week: Hot Rolled Coil: SMU Range is $620-$650 per ton ($31.00/cwt- $32.50/cwt) with an average of $635 per ton ($31.75/cwt) FOB mill, east […]
The domestic steel mills did not announce any flat rolled steel price increases during the month of February. The last price increase announcement was made by USS/POSCO to their West Coast customers on January 30th. The last announcement on the East Coast was ArcelorMittal Dofasco which adjusted prices to take into account the lost value […]
During the fourth week of February Steel Market Update conducted our third monthly forecast projecting the number of foreign imports due into the United States during the month of February. What Steel Market Update does each week (except the first week of the month) is to review the U.S. Department of Commerce import license data […]
The table below provides a quick look at the status of important commodity inputs used in the steel making or coating process (zinc and aluminum are used to make galvanized and Galvalume, etc.):
Steel Market Update follows a number of flat rolled steel price indexes and all of the indexes that reported to SMU this week saw benchmark hot rolled prices declining this past week. Three indexes reported double digit reductions in their HRC averages (Steel Orbis did not supply prices for this past week) and the average […]
Steel Market Update (SMU) Steel Buyers Sentiment Index averaged +39.5 which was down from the +43.5 reported during the month of January. Our SMU Price Momentum Indicator went from Neutral to Lower as we adjusted our indicator to reflect the dropping steel prices which we expect to continue over the next 30 days. Benchmark hot […]
The U.S. Department of Commerce recently released updated import statistics including preliminary January figures. According to the latest data, total steel imports in January were 3,172,481 net tons (NT), up 26.6 percent compared to the 2,506,795 NT imported in December. Total February imports are projected to be 3,012,761 NT, a 5.0 percent decrease over January. […]