Commercial Metals Company, a long products producer, is adding a third micro mill that will make merchant bar quality products through a continuous production process that will utilize renewable energy. “We are excited by the tremendous promise of CMC’s third micro mill. This is a smart growth initiative that feeds the large underlying West Coast […]
Mill shipments and supply of sheet products began to turn around in June. This analysis based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce. The analysis summarizes total steel supply by product from 2008 through June 2020 and year-on-year changes. The […]
Steel Market Update is pleased to share this Premium content with Executive subscribers. For more information on how to upgrade to a Premium subscription, email Info@SteelMarketUpdate.com. July was the ninth consecutive month where imports were down by more than 20 percent compared to the same month last year, according to the latest Commerce Department data. […]
Learning to do more with less during the COVID crisis is bringing structural changes to ArcelorMittal, said Aditya Mittal, president and CFO of the world’s largest integrated steel and mining company, during today’s second-quarter report to analysts and investors. Without offering specifics about which assets will be affected in pursuit of cost savings, Mittal said […]
The trough for steel volume, particularly for flat rolled steel, has passed and the second half looks promising, said Steel Dynamics CEO Mark Millett. Back orders are strong and order intake rates have picked up due to increasing demand as businesses resume operations following COVID-19 shutdowns. “It is still not possible to determine the full […]
NLMK Group reported a 2 percent year-over-year increase in sales during the second quarter of 2020 for total sales of 4.4. million metric tons. The increase was attributed to higher exports of slab and pig iron. Sales declined 3 percent from Q1 2020. Overall steel output declined to 3.9 million tons as a result of […]
By CRU Analysts Irina Melkonyan and Iris Speelmanns, from CRU’s Steel Sheet Products Market Outlook Russia is among the biggest steel exporters in the world, delivering to a wide range of destinations. However, steel demand in all regions diminished as the world was hit by Covid-19 and most steel producers globally have struggled. Unlike steelmakers […]
Total rolled product imports in June were down by 25.4 percent on a three-month moving average (3MMA) basis, year over year. This was the eighth consecutive month in which imports declined by more than 20 percent compared to the same month last year. This early look at June’s import volume is based on Commerce Department […]
We are seeing further erosion in flat rolled steel pricing this week with the possible exception of Galvalume. Our sources are advising that hot rolled numbers are being offered in the low $400’s for tons. As capacity reopens at integrated mills, the possibility exists for HRC prices to breach the $400 per ton level for […]
As expected, ferrous scrap prices declined in July, adding downward pressure to already weak finished steel prices. Steel Market Update sources report that obsolete scrap traded down $10-20 per ton, while prime grades were lower by $40 across the country. Scrap supplies have increased at a greater rate than steel production, say the experts, which […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor In the U.S. Midwest market this week, sheet prices were somewhat mixed with HR coil near steady w/w while HDG coil fell by $19 /s.ton to $650 /s.ton and CR coil inched up by $4 /s.ton to $697 /s.ton. Our full HDG coil price, reflecting […]
Imports of rolled products through May, year over year, were not affected by the pandemic, but the longer-term decline continued, according to the latest Commerce Department data. Year over year, total rolled product imports in May were down by 24.8 percent on a three-month moving average (3MMA) basis. This was the seventh consecutive month where […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Long Products Monitor U.S. domestic long product prices were forced lower across the board as demand weakness caused by the Covid-19 pandemic combined with a substantial m/m decline in scrap prices. Construction activity in many states was either curtailed or prohibited entirely as local governments took measures […]
By CRU Research Manager Paul Butterworth and Analyst Alexander Ordosch, from CRU’s Global Steel Trade Service The global Covid-19 outbreak has resulted in sharply falling steel demand all over the world. For the steel industry, it is a challenging task to reduce production levels as ~75 percent of global output is produced through the BF/BOF, […]
Steel Market Update is please to share this Premium content with Executive members. For information on how to upgrade to a Premium subscription, email Info@SteelMarketUpdate.com. Total rolled product imports in March were down by 25.6 percent on a three-month moving average (3MMA) basis year over year. This was the fifth consecutive month where imports were […]
Total rolled product imports in April were down by 26.3 percent year over year on a three-month moving average (3MMA) basis. This was the sixth consecutive month where imports declined by more than 20 percent compared to the same month last year. This early look at April’s import volume is based on Commerce Department license […]
Schnitzer Steel Industries, a metals recycler and long products producer, posted revenue of $439 million for the second quarter of FY 2020. Net income was $4.5 million for the quarter, improving from a $7 million loss in Q1 but down significantly from income of $13 million in Q2 2019. Autos and Metals Recycling achieved operating […]
By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor In the U.S. Midwest market, sheet prices were split this week. The price of HR coil fell $21 /s.ton to $561 /s.ton while CR and HDG coil prices fell by only $1-$3 /s.ton to $770 and $747 /s.ton, respectively. The spread between HDG coil and […]
By CRU Research Manager Paul Butterworth, from CRU’s Steel Monitor CRU has massively downgraded forecast GDP growth in China to 1-2 percent for 2020 and we now expect the USA and Eurozone to fall into recession. Global GDP growth is now expected to be 1 percent for the year, an effective global recession. While economic […]
Mill shipments of sheet products in January were the highest since August 2019. This analysis is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce (DoC). This month we are producing a new report for long products and will follow this […]
Demand for long products declined by 3.5 percent in the three months through January, but rebar was up by 9.6 percent. This analysis is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce (DoC). It summarizes total steel supply by product […]
Imports of rolled products have declined every month since May 2018 year over year with the greatest declines in each month December 2019 through February 2020. Total rolled product imports in February were down by 26.7 percent on a three-month moving average (3MMA) basis. This follows the 26.3 percent decrease in December and 29.6 percent […]
In spite of the widely reported decline in import volume, import market share increased in the second quarter. Last week we reported that June was the eighth consecutive month in which imports were down by more than 20 percent compared to the same month last year. This has not been the case for import market […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January 2020, imports’ share of the total sheet products has been 14.5 percent, down from 21.4 percent in 2015. The import share of HRC has been below 10 percent since January 2019. The most striking finding in this […]
Key Market Indicators show that the improvement in market trends in December and January translated to a jump in the present situation in February. This report is designed to be a big picture summary of data on which we have reported in detail during the month. In it we summarize 36 data streams that describe […]
In three months through December, demand for total rolled products declined by 6.1 percent. This Premium analysis by Steel Market Update is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce (DOC). It is meant as a more in-depth look compared […]
This report examines the import share of sheet, plate, long and tubular products and 16 subcategories. Since January 2019, the import market share of total sheet products has been below 15 percent with an 11-month average of 14.0 percent. The import share of HRC has been below 10 percent since January 2019. The most striking […]
Written by Senior Analyst Ryan McKinley. More in-depth regional analysis found in CRU’s Metallics Monitor. The CRU metallics price indicator (CRUmpi) fell by 8.9 percent m/m to 203.7 (see chart) following price falls in nearly every market. Supply outpaced demand due to mild winter conditions in much of the northern hemisphere. Key exceptions were Russian scrap and ore-based […]
Imports of steel rolled products have declined every month since May 2018, year over year, with the greatest decline in January 2020, according to government data. Total rolled product imports in January were down by 35.5 percent on a three-month moving average (3MMA) basis. This follows the 27.8 percent decrease in November on the same […]
ArcelorMittal posted a net loss of $1.9 billion for the fourth quarter of 2019. In comparison, the global steelmaker posted a loss of $539 million in Q3 and a net profit of $1.19 billion in Q4 2018. For the entire year 2019, ArcelorMittal posted a net loss of $2.5 billion compared to net income of […]