Would you like to learn how to protect your business and minimize risk associated with unfavorable price changes, by figuring out what exactly is meant by “hedging a position”? Steel Market Update can help to demystify hedging so you can quickly gain a concrete understanding of hedging basics. You will also learn about terminology, market […]
I want to write a few words today about Section 232. Not for or against it. Just some reflections on a trade action that’s been with us for a lot longer than I expected. The catalyst for that reflection was a conference call the Economic Policy Institute, a Washington policy think tank, held earlier this […]
California Steel Industries (CSI) has closed its June flat rolled order book just a week after opening it. “We want to thank you for your continued support during these difficult times. … We will contact you when we open the flat rolled order book for July,” CSI said in a letter to customers dated Wednesday, […]
Section 232 tariffs should remain in place because they backstop a stable U.S. steel industry, the benefits of which will outlast a temporary price spike, a panel of industry experts and trade union members said. “These typically last six to nine months. So we can expect that these price bubbles–and that’s really what they are–are […]
JSW Steel USA’s electric-arc furnace (EAF) and slab caster are up and running, but the company has decided to keep the plant’s hot strip mill idle, a company spokesman said. JSW’s Mingo Junction, Ohio, flat-rolled steel mill will make slabs and will “continue with outside tolling,” he added. “Right now, the hot strip mill is […]
The U.S. steel market could lose one million tons of production in the months ahead because of several lengthy blast furnaces outages, and the volume of iron and steel impacted could be well over one million tons when shorter-duration electric-arc furnace (EAF) and hot strip mill outages are considered. The issue is particularly relevant because […]
Hyundai Steel has halted output on some production lines and will be approximately 1.5 months late with some shipments because of a “guerrilla strike,” according to a letter to U.S. customers. “Since the strike is still ongoing and the effect of the production suspension(s) are yet to be calculated, we cannot designate the accurate quantity […]
California Steel Industries (CSI) has opened its June flat rolled orderbook, and the West Coast slab converter has also increased prices by as much as $90 per ton ($4.50/cwt), according to market participants. “The purpose of this letter is to inform you that CSI’s June flat rolled orderbook is now open,” the company said in […]
NLMK USA has slated an approximately one-week maintenance outage in June on the melt shop and hot strip mill at its facility in Portage, Ind., a company official confirmed. The plant-wide outage is for routine semi-annual maintenance and “isn’t a big deal,” said NLMK USA Executive Vice President James Banker. The Portage electric-arc furnace (EAF) […]
FOB mills prices aren’t the only thing on the rise – so too are service center resale prices, import tags and ocean freight rates. Service centers are selling amongst each other for nearly $1,400 per ton ($70/cwt), and certain master distributors are charging that much if not more for hot band, market participants said. That’s […]
U.S. Steel expects a solid first quarter thanks to firm demand and as record high flat-rolled steel prices flow through to its bottom line. “Strong market conditions and our well-timed acquisition of Big River Steel are allowing us to drive significant earnings growth,” U. S. Steel President and Chief Executive Officer David B. Burritt said […]
AM/NS Calvert has a planned maintenance outage coming up, a company spokeswoman confirmed. The outage is expected to take place in May on the Alabama steel mill’s hot-strip mill, market participants said. The spokeswoman did not confirm when the outage would take place or on what part of the mill repairs or upgrades would be […]
Nucor’s tubular products group aims to increase prices for hollow structural sections (HSS), mechanical tubing and piling product by $125 per ton ($6.25/cwt) effective immediately. “The increase is a result of rising raw material costs, strong demand and (the) volatility of transportation costs,” the steelmaker said in a letter to customers on Thursday, March 11. Nucor […]
Ternium plans to start up its new hot-strip mill in Pesquería, outside of Monterrey, Mexico, in early June, according to market participants. The development has allowed the Latin American steelmaker to take June orders for customers in the U.S, sources said. Those tons from will be rolled from Ternium’s existing hot-strip mills, something that is […]
Hot-rolled coil import volumes from South Korea appear poised to dip in March versus February because the country is nearing its first-quarter Section 232 quota limit, according to government figures. U.S. buyers have imported 87,493.74 tonnes of South Korean hot-rolled coil from the beginning of the year through March 10, according to data from U.S. Customs and […]
At least two U.S. tube mills plan to increase prices for non-energy tubulars by $125 per ton ($62.50/cwt) effective immediately, according to letters to customers. North of the border, meanwhile, Welded Tube of Canada aims to increase prices on hollow structural sections (HSS) and mechanical tubing by $160 per ton CAD, also effective immediately. Atlas […]
Allegheny Technologies Inc. (ATI) is converting slabs for two domestic mills and one Brazilian steelmaker, according to market participants. ATI is re-rolling slabs for Brazilian steelmaker Companhia Siderúrgica Nacional (CSN) as well as for U.S. steelmakers JSW Steel USA and NLMK USA, sources told Steel Market Update. The issue is relevant because the United Steelworkers […]
Availability from domestic sheet mills is getting worse again after briefly improving last month, according to some market participants. The trend follows winter storms taking out production at electric-arc furnace (EAF) producers in the southern U.S. in February and ahead of a raft of upcoming maintenance outages in the second and third quarter, sources said. […]
Availability from domestic sheet mills is getting worse again after briefly improving last month, according to some market participants. The trend follows winter storms taking out production at electric-arc furnace (EAF) producers in the southern U.S. in February and ahead of a raft of upcoming maintenance outages in the second and third quarter, sources said. […]
Altos Hornos de México (AMSA) has resumed normal operations at its No. 5 blast furnace following a temporary outage last month, a company spokesman said. The No. 5 furnace had to stop for two days because of severe weather and a natural gas shortage. The Mexican flat-rolled steelmaker last month said that it had lost […]
Altos Hornos de México (AMSA) has resumed normal operations at its No. 5 blast furnace following a temporary outage last month, a company spokesman said. The No. 5 furnace had to stop for two days because of severe weather and a natural gas shortage. The Mexican flat-rolled steelmaker last month said that it had lost […]
Algoma Steel Inc. aims to raise sheet and plate prices by $40 per ton ($2/cwt) effectively immediately for new spot orders. The price hike applies equally to hot-rolled coil, cold-rolled coil, as-rolled plate and heat-treated plate, the Canadian flat-rolled steelmaker said in letters to customers on Friday, March 5. Published extras will also be applied to […]
JSW Steel USA will resume melting and slab casting at its electric-arc furnace (EAF) sheet mill in Mingo Junction, Ohio, the week of March 7, the company’s top executive said. The steelmaker has also decided to begin the process of restarting its pipe mill in Baytown, Texas, JSW Steel USA CEO Mark Bush told Steel Market […]
Biden administration Commerce Secretary Gina Raimondo described Section 232 tariffs on imported steel and aluminum as “effective” on Thursday. “The data show that those tariffs have been effective,” Secretary Raimondo said in an interview with MSNBC. Raimondo’s comments are important because trade policies such as Section 232, which Trump rolled out in March 2018, fall […]
Flat-rolled steel imports to the United States rebounded in February, weighing in at their highest monthly total in more than a year. Hot-rolled imports, meanwhile, hit their highest point in more than two years, according to Commerce Department figures. And the trend is only just getting started, according to some market participants. The U.S. was […]
General Motors has extended production shutdowns at three North American plants because of a continuing microchip shortage. In addition, the automaker said it would take downtime at its Gravatai plant in Brazil. “Our intent is to make up as much production lost at these plants as possible,” a GM spokesman said on Wednesday, March 3. […]
SSAB Americas raised some eyebrows in the steel market when it officially announced a “scrap collar” along with an $80-per-ton ($4/cwt) plate price increase earlier this week. The move, while not unheard of in the steel market, is not necessarily typical for standard spot market plate orders, some buyer sources said. An SSAB Americas spokeswoman […]
SSAB Americas raised some eyebrows in the steel market when it officially announced a “scrap collar” along with an $80-per-ton ($4/cwt) plate price increase earlier this week. The move, while not unheard of in the steel market, is not necessarily typical for standard spot market plate orders, some buyer sources said. An SSAB Americas spokeswoman […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]
NLMK USA expects United Steelworkers (USW) union members at its steel mill in Farrell, Pa., to return to work on Monday, March 8, a company official said. The steelmaker plans to ramp up its hot mill in western Pennsylvania in March. April will see downstream facilities resume normal operating rates, NLMK USA Executive Vice President […]